Educational Robots Market by Product and Geography - Forecast and Analysis 2020-2024
- Published: Apr 2020
- Pages: 120
- SKU: IRTNTR40898
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The educational robots market size has the potential to grow by 590.82 thousand units during 2020-2024, and the market’s growth momentum will accelerate during the forecast period.
This report provides a detailed analysis of the market by product (pre-configured educational robots, reconfigurable educational robots, and humanoid educational robots) and geography (APAC, Europe, MEA, North America, and South America). Also, the report analyzes the market’s competitive landscape and offers information on several market vendors, including BLUE FROG ROBOTICS & BUDDY, fischerwerke GmbH & Co. KG, Innovation First International Inc., LEGO System AS, Makeblock, Modular Robotics Incorporated, PAL Robotics, Pitsco Inc., ROBOTIS Co. Ltd., and SoftBank Group Corp.
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Market Competitive Analysis
The market structure is fragmented. As the price of the product determines purchase, the forecast period will witness the introduction of several high-quality educational robots with extended features. Modular Robotics Incorporated, PAL Robotics, Pitsco Inc., ROBOTIS Co. Ltd., and SoftBank Group Corp. are some of the major market participants. Although the emergence of start-ups in global educational robot will offer immense growth opportunities, high cost and time consuming implementation of robots in educational curriculum will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
To help clients improve their market position, this educational robots market forecast report provides a detailed analysis of the market leaders and offers information on the competencies and capacities of these companies. The report also covers details on the market’s competitive landscape and offers information on the products offered by various companies. Moreover, this educational robots market analysis report also provides information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities.
This report provides information on the production, sustainability, and prospects of several leading companies, including:
- BLUE FROG ROBOTICS & BUDDY
- fischerwerke GmbH & Co. KG
- Innovation First International Inc.
- LEGO System AS
- Modular Robotics Incorporated
- PAL Robotics
- Pitsco Inc.
- ROBOTIS Co. Ltd.
- SoftBank Group Corp.
Educational Robots Market: Segmentation by Region
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North America accounted for the largest educational robots market share in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. The growing popularity of activity-based learning and changes in educational policies will significantly influence educational robots market growth in this region.
39% of the market’s growth will originate from North America during the forecast period. The US and Canada are the key markets for educational robots in North America. Market growth in this region will be faster than the growth of the market in other regions.
Educational Robots Market: Segmentation by Product
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Pre-configured educational robots are robotics solutions that are pre-devised and pre-programmed and are meant to be designed by the user with the help of the instruction manual provided. Programming these robotics solutions is simple and instigates interest in students about technology. Moreover, these robots are well-suited for elementary education level and are primarily used in schools as a part of curriculums or for extracurricular activities.
Market growth in this segment will be slower than the growth of the market in the reconfigurable educational robots and humanoid educational robots segment. This report provides an accurate prediction of the contribution of all the segments to the growth of the educational robots market size.
Educational Robots Market: Key Drivers and Trends
Robots that can teach programming and coding are gaining traction among students, educators, and parents across the globe because of the growing acceptance of automation at workplaces. With the increased popularity of educational robots, the market is witnessing the emergence of new start-ups with huge funding. There are also potential investors focused on aiding start-ups financially and are becoming popular among robotics industry players, besides being popular in the educational robotics industry. Additionally, educational robot vendors are using this platform to gauge the popularity of their product before entering the new market. Thus, the emergence of new start-ups will significantly influence the growth of the educational robotics market during the forecast period.
- Increased acceptance of educational robots has prompted vendors to introduce an affordable range of robots for increasing the reachability of their products.
- SoftBank Group has reduced the price of its educational robot NAO from USD 16,000 to USD 8,000 in the NAO evolution version. Similarly, new start-ups are also introducing products equipped with advanced technologies in the range of USD 200.
- Cost reduction of components used in robots help manufacturers produce affordable robots and tap new opportunities created in the education industry.
- The decline in the price of educational robots is one of the key educational robots market trends driving market growth.
- During 2020-2024, the market will grow at a CAGR of almost 28%.
Educational Robots Market: Key Highlights of the Report for the Forecast Period 2020-2024
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will drive educational robots market growth during the next five years
- Precise estimation of the educational robots market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behaviour
- The growth of the educational robots market industry across APAC, Europe, MEA, North America, and South America
- A thorough analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of educational robots market vendors
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Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
- Market size and forecast
- Market segmentation
- Geographical insights
- Competitive landscape
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Frequently Asked Questions?
- South Korea (Republic of Korea)
- Emergence of startups in global educational robot
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