Worldwide Programmable Robots Industry to 2025 - Increasing Adoption of Robots for Educational Purposes is Driving the Market - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Programmable Robots Market - Growth, Trends, Forecasts (2020 - 2025)" report has been added to ResearchAndMarkets.com's offering.

The Programmable Robots Market is expected to grow at a CAGR of 9.66% during the forecast period. The growth of the market would be owing to increasing adoption of robots for educational purposes and continuous innovation leading to better functionality of robots.

The use of programmable robots in the education sector facilitates improvement of competencies in core areas like science, technology, engineering, and mathematics. Moreover, Honda has been continually investing research activities of programmable robots to help in development of next-generation mobility like ASIMO, walking assist devices, UNI-CUB and other technologies.

However, the spread of the Covid-19 pandemic is expected to impact the growth of the market in the shorter run. Product Innovations and new product launches are especially expected to be affected as all major economies that are major centres of consumer robotics development have been crippled by the outbreak of the virus. In the post - Covid19 scenario though the market is expected to experience a major boom as parents would increasingly prefer limited social interaction and engage their kids with robots for various purposes.

Companies Mentioned

• iRobot Corporation
• The LEGO Group
• Modular Robotics Incorporated
• RoboBuilder Co. Ltd.
• Innovation First International Inc.
• SoftBank Robotics Europe SAS
• Honda Motor Co., Ltd
• Wowwee Group Limited (Optimal Group Inc.)
• Fischertechnik GmbH
• SuperDroid Robots Inc.

Key Market Trends

Increasing Adoption of Robots for Educational Purposes

• The growing popularity of activity-based learning is expected to augment market growth in this vertical.The revolution of programmable robotics has considerably changed the nature of education at all levels, starting from Kindergarten schools to graduate universities, that have been integrating robotics driven courses in their curriculum's.
• Many vendors are undertaking intentive research and development activities to understand the need of robotics in the education sector better. Fischertechnik introduced a learning environment to understand industry 4.0 applications in vocational schools and training along with understanding research, teaching and development at universities, in companies and IT departments.
• New products are also expected to augment market growth. Leveraging AI, a new programmable robot named Luka the Owl is to be introduced in 2020, the robot will be able to read from a database of 50,000 books, to young children.

North America is Expected to Remain the Largest Market

• The demographics and emerging dynamics in education sector are expected to be one of the major drivers of the market in the region. The introduction of interactive learning courses is one of the major components driving the market.
• In the education sector in the United States, according to the Labor Department's projections, the universities in US are expected to produce only 29% of the required graduates to fill 1.4 million computer specialist job openings. Such a scenario is expected to create the need for programmable robots in this sector.
• Further, the ageing population of the country is also leading to the introduction of programmable robots in the consumer sector. ntuition Robotics will introduce ElliQ, a social robot for older adults, is currently in beta testing in the United States.

Key Topics Covered:

1 INTRODUCTION

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS

4.1 Market Overview

4.2 Market Drivers

4.2.1 Increasing Adoption of Robots for Educational Purposes

4.2.2 Continuous Innovation Leading to Better Functionality of Robots

4.3 Market Restraints

4.3.1 High Cost and Time Consuming Implementation

4.4 Porters Five Force Analysis

4.5 Assessment of Impact of Covid-19 on the Industry

5 MARKET SEGMENTATION

5.1 Component

5.1.1 Hardware

5.1.2 Software

5.2 Application

5.2.1 Entertainment

5.2.2 Education

5.2.3 Household

5.2.4 Other Applications

5.3 Geography

5.3.1 North America

5.3.2 Europe

5.3.3 Asia-Pacific

5.3.4 Rest of the World

6 COMPETITIVE LANDSCAPE

6.1 Company Profiles

7 INVESTMENT ANALYSIS

8 MARKET OPPORTUNITIES AND FUTURE TRENDS

For more information about this report visit https://www.researchandmarkets.com/r/lu74bx