The Global Educational Robots market is witnessing a substantial increase in revenues. The market growth attributes to the continuous progression in robotics over the past few years. Besides, advances in technologies such as AI and machine learning are transforming robots' capabilities to communicate and collaborate with humans. Moreover, increasing automation in the education sector escalates market growth.
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In its Educational Robots Market research report, Market Research Future (MRFR) asserts that the market is projected to garner a valuation of USD 1,540.28 MN by 2023. MRFR also mentions that the global educational robots market is estimated to register an impressive CAGR during the review period (2018 – 2023). The rising adoption of educational robotics for training in domestic and commercial sectors accelerates the growth of the market.
Additionally, reduced prices of robots and increased development of smaller & mobile robots influence the educational robots market growth. Furthermore, the growing trend of smart or connected online education infrastructures plays a significant role in the development of the market. Moreover, growing applications and adoption of connected autonomous education infrastructures foster market growth.
With rapid technological advances, the number of educational robots is continually growing. Conversely, the high cost associated with educational robotics implementation is a major factor projected to hamper the market growth. Nevertheless, the increasing trend of online education would support market growth throughout the review period, scaling the development of educational robots.
Global Educational Robots Market - Segmentation
The report is segmented into five dynamics;
By Component: Hardware (Sensors, CPUs, Control Systems, Actuators, others) and Software.
By Type: Humanoid and Non-Humanoid.
By Application: Formal Education (robot teachers and robot assistants) and Informal Education.
By End User: Elementary & High School Education, Higher Education, and Special Education.
By Regions: Americas, Europe, Asia Pacific, and Rest-of-the-World.
Global Educational Robots Market - Regional Analysis
North America dominates the global educational robots market. The largest market share attributes to augmented usage of the internet and smart connected devices, including tablets and mobiles. Besides, the proliferation of social media platforms and technological advancements in the region drive the growth of the market. Moreover, the sturdy research and development scenario accelerate the educational robots industry growth in North America.
The Asia Pacific region stands second in the global educational robots market. The market growth is driven by the escalating adoption of educational robots in the region. Additionally, enormous spending on research and development of robotics, AI, machine learning, and cognitive technologies increases the regional market size, driving educational robots' adoption.
Furthermore, substantial technological advances in robotics and the increasing demand for educational robots from the AM industry drive the growth of the market. Rapidly emerging APAC countries such as India and China hold a sizable share in the regional market due to the increasing investments for training in commercial and corporate activities. The Indian educational market has the maximum potential to proliferate during the forecast period.
The Europe Educational robots market has emerged as a promising market globally. European countries are initiating, transforming online education regulations, driving the regional market growth. Moreover, increasing R&D activities and modifications of robotic systems act as major tailwinds for the growth of the market. The rapid economic growth increased R&D activities, and the demand for educational robotics from the commercial sectors pushed the regional market growth.
Global Educational Robots Market - Competitive Analysis
Highly competitive, the Global Educational Robots market appears to be fragmented due to the presence of several well-established players. These players incorporate strategic initiatives such as acquisition, collaboration, partnership, expansion, and product/ technology launch to maintain their positions and gain a competitive advantage in this market.
These players focus on new product developments and geographical expansion. The market is predicted to witness relentless innovations and new products, resulting in intense competition among manufacturers.
Players leading the Global Educational Robots market are Blue Frog Robotics (France), SoftBank (Japan), Aisoy Robotics (Spain), ROBOTIS (South Korea), QIHAN Technology Co. (China), ST Robot Co. (South Korea), PAL Robotics (Spain), Hanson Robotics (Hong Kong), Probotics America (US), Ozobot & Evollve, Inc. (US), Wonder Workshop (US), Modular Robotics (US), and Makeblock, Co. Ltd (China), among others.
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