ID: MRFR/SEM/5223-HCR | February 2021 | Region: Global | 100 pages
The educational robots market is likely to enjoy a major momentum during the forecast period of 2017-2023 and owing to the trends, the market was valued USD 625.34 million and projected to reach USD 1540.28 Million by 2023. There is a huge variety in the robots that are being manufactured by the key educational robots market players followed by their deployment to conduct different kinds of educational activities. These kinds of robots are provided with the required training and education that will help them assist the research and developments undertaken during the period, as well.
Educational robots are one of the newest technological developments that will help in the enhancement of educational services and improvise the trends that will help in better understanding, concept clarity, and providing first-hand and practical experience to the students. Automation is increasing and enhancing its operations across various verticals and the education sector is one of them. A collaborative effort of automation and education services is likely to help the market achieve new heights and set new and achievable standards for providing quality education that is backed with the required skill, expertise, and knowledge to enhance the horizon of the students and other seekers of academics.
COVID 19 Analysis
The education industry has been one of the major economic sectors that have witnessed the considerable changes brought in by the pandemic. The changes are such that students have to sit home and complete their exposure. The unavailability of physical learning is barring them from gaining the first-hand experience. The switch to online classes has made students bound to online learning only and experimentation is just fixed and limited to theory and books. Due to the pandemic, the lockdown has been imposed and hence, the students are deprived of physical experience. Educational robots have been deployed but are of no use since the pandemic has hit the educational robots market operations.
However, the global regions and their governments are investing in the development of a strong and sturdy educational infrastructure that is backed with emerging technological and innovative trends. Also, the market players are manufacturing these robots that are being deployed to render a better learning experience.
Educational Robots Market Dynamics
The educational robots market service also has humanoid robots. This is the smallest market segment but is expecting to exhibit a high potential and help in majorly transforming the education service industry. These robots are further, showing their skill and excellence in the field of medicine and healthcare services. They are gaining recognition by working as companion robots. MIT’s Computer Science and Artificial Intelligence Laboratory are on the way to developing a machine learning technique that can be recognized as C-Learn. This allows the non-coders to help and teach robotic movements and tasks by helping with the basic information related to the objects that are manipulated and then, demonstrations for the robot for a single demo are organized.
Apart from the kind of momentum that is likely to be enjoyed by the humanoid robots, the cost of acquiring them lands between USD 7,000 to USD 50,000. Such an amount cannot be afforded by all. The TIAGo humanoid robot that belongs to the company named PAL Robotics from Spain, costs an approximate value of USD 50,000. The cost of acquiring these, when collaborated with the integrated costs and the cost related to the peripherals, is helping them emerge as a costly investment for education service providers and institutes.
The researchers that belong to the educational robot’s software, are intensively working on the development of methods that will help in understanding the way of transferring robot programming to another humanoid robot. Humanoids have an easy way of creating empathetic links with small children that help them in inspiring and pushing them for physical and intellectual activities for the development of their motor skills on a global scale during the forecast period that ends in 2028. Also, these robots help in developing social and emotional skills through various study means and helping the students embrace their inside thoughts and feelings.
Educational Robots Market Segmentation
The educational robotics market has been segregated all across the globe based on component, application, type, and end-user.
Based on the Component
The educational robots market has been divided all across the globe based on the component into software and hardware. The hardware dividend is further sub-divided into actuators, control systems, CPUs, sensors, and others.
Based on the Application
The market has been divided all across the globe based on the application into informal education and formal education.
Based on the Type
The market has been divided all across the globe based on the type into the non-humanoid type and humanoid type.
Based on the End-Users
The market has been divided all across the globe based on the end-users into special education, higher education, high school education, and elementary school education.
The educational robots market has been divided all across the globe based on the region into the North American region, European region, Asia-Pacific region, Latin American region, and the Middle East and African region. The largest market share in the educational robots market all across the globe is held by the North American region owing to the presence of major key players in this region. Moreover, well-established advanced technology infrastructure is another contributing factor that drives the market demand.
Being the fastest-growing region, the second-largest market share in the educational robots market all across the globe is held by the Asia-Pacific region owing to the presence of highly populated countries like China and India which drives the market demand to this region.
The third-largest market share in the educational robots market all across the globe is held by the European region owing to the presence of countries like the UK, France, Germany, and Italy that drive the market demand to this region. Moreover, high per capita income is another contributing factor.
The least market share is held by the Latin American region and the Middle East and African region owing to the presence of low infrastructure in both these regions. Low per capita disposable income is another contributing factor that restricts the market growth in these regions.
Educational Robots Market Competitive Landscape
The most prominent major key players in the educational robots market all across the globe are mentioned below:
These major key players use various strategies to sustain their market position in the Educational robots market in the global market by going for mergers, and acquisitions, by collaborating, establishing a partnership, developing a new production process, setting up a new joint venture, developing a new product line, innovation in the existing product, and many others to expand their customer base in the untapped market of the Educational robots all across the globe.
This educational robot market research report consists of the following elements mentioned below:
This market research report contains factors that drive the growth of the Educational robots market in the global market along with the factors that restrict its growth in the global market. The technical analysis during the forecasted period is mentioned. The impact of COVID 19 on the Educational robots market all across the globe is mentioned. The future growth rate in the Educational robots market during the forecasted period is estimated and mentioned.
|Market Size||USD 1,540.28 Million|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Component, Type, application, End User|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||SoftBank (Japan), BLUE FROG ROBOTICS (France), Aisoy Robotics (Spain), QIHAN Technology Co. (China), ROBOTIS (South Korea), ST Robot Co. (South Korea), Hanson Robotics (Hong Kong), PAL Robotics (Spain), Probotics America (US), Wonder Workshop (US), Ozobot & Evollve, Inc. (US), Makeblock, Co. Ltd (China), and Modular Robotics (US)|
|Key Market Opportunities||The development of humanoid robots represents a major opportunity for players in the educational robots market.|
|Key Market Drivers||
Frequently Asked Questions (FAQ) :
The central factor of increasing automation in the education sector is estimated to boost the expansion of the market.
The application, end-use, component, type, and region are the significant segments in the market.
The early implementation of the technology in the North American region is estimated to solidify their leadership position in the market.
ST Robot Co. (South Korea), Hanson Robotics (Hong Kong), ROBOTIS (South Korea), Probotics America (US), PAL Robotics (Spain), Ozobot & Evollve, Inc. (US) and Wonder Workshop (US) are the prominent contenders in the market.
The income creating capacity of the market is expected to escalate from USD 625.34 million in 2017 and is projected to upswing to USD 1,540.28 million by 2023.