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.
In its educational robots 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.
Global Educational Robots Market- Competitive Analysis
Highly competitive, the 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 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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Global Educational Robots Market- Segmentation
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.
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