LONDON--(BUSINESS WIRE)--Technavio’s latest market research report on the global educational robots market provides an analysis of the most important trends expected to impact the market outlook from 2018-2022. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
According to Technavio market research analysts, the global educational robots market will grow at a CAGR of over 21% during the forecast period. The emergence of startups in the global educational robot market is a major factor driving the market’s growth.
Robots that can teach programming and coding are gaining traction among students, educators, and parents worldwide with growing acceptance of automation at workplaces. With the increased popularity of educational robots, the global educational robots market is witnessing the emergence of new startups with huge funding. In the last five years, companies such as Wonder Workshop, Modular Robotics, and Makeblock raised huge amount from investors such as CRV, Google Ventures, and Madrona Venture Group. This will provide huge growth momentum and drive market growth over the forecast period.
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In this report, Technavio highlights the entry of global robot industry players as one of the key emerging trends in the global educational robots market:
Entry of global robot industry players
Efforts are being made to prepare the workforce for the future, where industries will use robotics solutions for several tasks. Thus, it is imperative for vendors to ensure that workers are familiar with this advanced technology. Vendors are also concerned about the decline in the workforce with the required qualification to operate robotics solutions in end-user facilities and the shortage of technicians to undertake R&D for future robots. To overcome this challenge, renowned global robotics industry players are expected to come up with sophisticated educational robots during the forecast period, which will drive the global educational robots market.
According to a senior analyst at Technavio for robotics research, “The market has already witnessed the entry of industrial robot vendors such as ABB, FANUC, Yaskawa; and service robots industry vendors such as iRobot. These companies are offering mobile robot platforms, software packages, and training programs to facilitate an understanding of robotics and programming.”
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Global educational robots market segmentation
This market research report segments the global educational robots market by product (pre-configured and reconfigurable) and key regions (the Americas, APAC, and EMEA).
The Americas led the global educational robots market in 2017 and is expected to remain dominant during the forecast period. However, APAC is expected to witness the highest growth during the forecast period due to initiatives to promote technology-driven educational curriculum.
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