Apr 17, 2020 (Reporthive Research via COMTEX) -- Chicago, United States, 2020 - The global educational robot market was valued at US$ 773.0 Mn in 2018 and is expected to reach US$ 3,386.5 Mn by 2027, with a CAGR growth rate of 18.2% in the forecast period from 2019 to 2027.
Educational Robot Market research report covers the data which is helpful for key players, software scope, market overview, market opportunities, market risk, market driving force, technological advancement, distributors, traders, dealers, research findings. The report provide predictive data regarding the future estimations for convincing market growth.
With the growing advancements in technology, the adoption of robots in various applications is also increasing. Education systems worldwide are also focusing on enhancing teaching assistants for the children by investing in advanced techniques. The adoption of educational robots is gaining traction globally for supporting and strengthening student's skills, developing their knowledge through the design, the assembly, and the action of robots.
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North America is a leading region in the global educational robot market, followed by APAC. Educators in the US have been encouraging the inclusion of STEM curriculum to address the next-gen demand for a skilled workforce, including the development of the world's next robotics as well as artificial engineering experts. However, there are several challenges, such as unequal opportunity to participate in these programs. For instance, most of the low-income schools depend on external funding to include such programs, thus lacking in introducing robots to their education system. Also, there are very few numbers of schools that have implemented robotics for every student throughout the academic year.
Top Market Key Players
Aisoy Robotics, Hanson Robotics, Lego Group, Modular Robotics, Pal Robotics, Probotics America, Qihan Technology Co. and more.....
APAC is expected to register the highest CAGR in the educational robot market during the forecast period. Developing economies such as China and India are witnessing considerable growth in their GDPs and per capita income every year. In these nations, the use of educational robots in schools is not as common as it is in developed countries worldwide. For instance, in Indonesia, there are only a few schools that have employed robots in the learning procedures; most of these are high-profile schools, such as reputable private schools or international schools.
The global educational robot market has been segmented based on type, application, and geography. Based on the type, the educational robot market is bifurcated into humanoid and non-humanoid. Based on the application, the educational robot market is segmented into primary education, secondary education, higher education, and others. Higher education includes K-11 and above. The major adopters of educational robots are universities and colleges. Various humanoid and non-humanoid are developed with a specific discipline of education. Vendors are highly focused on the higher education segment to expand its market share. Governments are also taking various initiatives to increase awareness of the benefits associated with educational robots. The higher education sector is expected to hold the major educational robot market share in 2018. Humanoid robots are the most attracted robot type in the higher education segment.
Several companies providing educational robots are coming up with advanced and efficient software and solutions. The growth of advanced technological robots is expected to furnish the revenue generation stream of the educational robot market.
Other Market Players from Value Chain:
Blue Frog Robotics, Revolve Robotics, DST Robot Co, Adele Robots, IDMind, RoboTerra, Inc., and Robobuilder Co., Ltd., among others are few other market players from value chain which are not profiled in the report, which can be included based on request.
The overall educational robot market size has been derived using both primary and secondary sources. The research process begins with exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the educational robot market. It also provides the overview and forecast for the global educational robot market based on all the segmentation provided concerning five primary reasons such as North America, Europe, Asia-Pacific, the Middle East and Africa, and South America. Also, primary interviews were conducted with industry participants and commentators to validate data and analysis. The participants who typically take part in such a process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, and external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the educational robot industry.
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