Programmable Robots Market Share, Revenue and Regional Forecast To 2027
Posted by sneha patil on February 4th, 2022
According to Market Research Future (MRFR), the global programmable robots market is expected to reach USD 4 billion at a CAGR of 15% from 2017 to 2023 (forecast period). The report discusses and examines the effects of the outbreak of COVID-19 on the global programmable robots market share, including possible opportunities and threats, drivers, and risks.
Robotics has the potential to increase efficiency, transform work practices, and enhance service offerings. Robots affect every vertical industry. But building a robot is a tedious task that takes a lot of time for drilling, soldering, programming, and so on. This time-consuming task of building robots is simplified with the use of a programmable robot kit. The kit includes all the electronic and mechanical components needed to make a functional robot capable of performing elementary movements. The programming languages used are C/C++, Python, Java, C#/.NET, and Matlab. Programmable robots are autonomous robots that can be controlled by using a remote control or programmed with a set of instructions. Programmable robots with AI capabilities do not need external control. It adapts to the environment, has thinking capabilities, and execute tasks on its own.
Growing adoption of programmable robots for educational purposes to improve the learning and teaching process accelerates the growth of the market for programmable robots. In addition, the availability of an open-source platform providing customization features to program the robots and the availability of low-cost robotic kits are boosting the growth of the market for programmable robots. However, lack of awareness limits the development of the Programmable Robots Market Share
Programmable robots in education help students be highly involved in the four subject areas: science, technology, engineering, and mathematics (STEM). It helps students learn through project-based learning, hands-on learning, collaborative learning, authentic learning, and constructive learning methods that enhance the learning process. Programmable robots are also used for entertainment purposes for gaming and media. Home entertainment robots promote interaction between humans and robots. Humanoid robots, robot cats, or dogs are provided with sensors and vision to communicate with people, play games, and compete. These robots are also used as tour guides in service industries, such as theme parks or museums, to provide tourists with information and also add value as entertainment. The robots used for domestic purposes are primarily used for assistive tasks for older people.
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The global programmable robots market has been segmented based on segments such as component and applications.
The component-based segment has included hardware and software. Hardware is also sub-segmented into actuators, sensors, programmable platforms, PC interface, power source, and others.
The application-based segment of the market has included education and entertainment. The education segment is sub-segmented into schools & universities, and research institutes, whereas entertainment, is also sub-segmented into media and gaming.
North America might lead the programmable robots market during the forecast period. The crucial factor influencing the expansion of the market in this region is developed economies such as Canada and the US are spending a hefty share on research and development of robotics technology. Also, escalating adoption of robotic kits in schools, universities, and research institutes for educational purpose is an added reason motivating the growth of programmable robot market.
Asia-Pacific region might also develop at a momentous rate owing to increasing awareness of robotics in education to lift up the learning process, and emerging economies such as China, Japan and South Korea that manufacture electronic components at economical rates.
The top players in the market of programmable robots are The LEGO Group (Denmark), iRobot Corporation (US), Bossa Nova Robotics (US), RobotShop Inc. (Canada), Wowwee Group Ltd (Hong Kong), Evolution Robotics (US), Honda Motor Co., Ltd (Japan), Fischertechnik GmbH (Germany), SuperDroid Robots Inc. (US), and Sphero (US).
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Joined: December 28th, 2020
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