Educational Robots Market to Reach $5.9 Billion Globally by 2031 at a CAGR of 17.4%: AMR
Rising investment in EdTech in developing countries and increasing demand for collaborative robots in the education sector has driven the growth of the global education robot market.
PORTLAND, Oregon., September 16, 2022 /PRNewswire/ — Allied Market Research recently released a report titled, “Educational Robots Market By Type (Service Robot, Industrial Robot), By Component (Hardware, Software), By End User (Primary Education, Secondary Education, Higher Education, Others): Global Opportunities Analysis and Industry Forecast , 2021-2031″. According to the report, the global education robot industry was taken into account $1.2 billion in 2021, and should reach $5.9 billion by 2031, growing at a CAGR of 17.4% from 2022 to 2031.
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Drivers, constraints and opportunities
Rising investment in EdTech in developing countries and increasing demand for collaborative robots in the education sector has driven the growth of the global education robot market. Additionally, growing R&D related to humanoid robots to transform the service industry complements the growth of the market. However, the high cost of educational robots is hampering the growth of the market. On the contrary, the lack of interoperability standards in the educational robotics industry would open up new opportunities in the future.
- The Covid-19 pandemic has significantly affected the market, due to a major impact on major players operating in the supply chain. However, the negative impact caused by the pandemic is expected to continue for a short period.
- However, the increase in demand for IoT solutions in the education sector has boosted the demand for educational robots. Additionally, the lack of skilled labor during the pandemic and the delay or cancellation of projects due to the lockdown have added to the demand.
The service robot segment held the largest share
By type, the service robot segment held the largest share in 2021, accounting for more than three-quarters of the global education robot market, and is expected to maintain its leading position throughout the forecast period. This is due to the adoption of IoT in robots for cost effective predictive maintenance. However, the industrial robot segment is expected to register the highest CAGR of 20.2% during the forecast period. Industrial robots can collect and analyze data to improve productivity, quality of service and reliability, while reducing overall total cost of ownership,
The hardware segment dominated the market
By component, the hardware segment held the lion’s share in 2021, contributing more than two-fifths of the global educational robot market, and is expected to maintain its dominance in terms of revenue by 2031, owing to the increase in smart infrastructure solution application. in the education sector. However, the software segment is estimated to show the highest CAGR of 19.2% from 2022 to 2031, owing to the increasing need for automation and security in the education and healthcare industry. increasing use of robots in education solutions.
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Secondary Education Segment to Show Highest CAGR through 2031
By end user, the secondary education segment is expected to register the highest CAGR of 18.9% during the forecast period. Significant shift towards automation and the use of robotics in complex medical procedures. However, the higher education segment held the largest share in 2021, accounting for more than two-fifths of the global education robot market, and is expected to maintain its leading position during the forecast period. Robots provide an excellent tool for teaching engineering concepts that can be used in teaching and demonstrating a variety of individual subjects, hands-on exercises, lab classes, and project work. Practical experience encourages students and increases motivation. This is driving the growth of the segment.
North America held the largest share
By region, the market across North America dominated in 2021, holding about two-fifths of the global educational robot market. The region is expected to maintain its dominance over the forecast period. However, the market through Asia Pacific is expected to register the highest CAGR of 19.3% during the forecast period, driven by increasing demand for next-generation AI-powered education technologies in developing markets, including India, Taiwan, South Koreaand China.
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Main market players
- Fanuc Corporation
- ABB Ltd.
- YASKAWA Electric
- Universal Robots
- SoftBank Robotics Group
- Hanson Robotics
- Ubtech Robotics
- Seiko Epson
- Robot Hyulim
- Probotics America
- Aisoy Robotics
- Kinderlab Robotics
- Soap box labs
The report analyzes these key players of the global educational robots market. These players have adopted various strategies such as expansion, new product launches, partnerships and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, product portfolio, and developments of each market player.
Main benefits for stakeholders
- This report provides a quantitative analysis of market segments, current trends, estimates and dynamics of the Educational Robots Market analysis from 2021 to 2031 to identify current opportunities in the Educational Robots Market.
- Market research is offered with information related to key drivers, restraints, and opportunities.
- Porter’s Five Forces analysis highlights the ability of buyers and suppliers to enable stakeholders to make profit-driven business decisions and strengthen their supplier-buyer network.
- An in-depth analysis of the educational robot market segmentation helps to determine the existing market opportunities.
- Major countries in each region are mapped according to their revenue contribution in the global market.
- The positioning of market players facilitates benchmarking and provides a clear understanding of the current position of market players.
- The report includes analysis of regional and global Educational Robots market trends, key players, market segments, application areas and market growth strategies.
Key market segments
- service bot
- industrial robot
- robotic arms
- power source system
- Secondary education
- Higher Education
- Primary education
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Pawan Kumar, CEO of Allied Market Research, leads the organization in delivering high quality data and insights. We maintain professional relationships with various companies which helps us to extract market data which helps us to generate accurate research data tables and confirm the utmost accuracy of our market predictions. All data presented in the reports we publish are drawn from primary interviews with senior managers of large companies in the relevant field. Our secondary data sourcing methodology includes extensive online and offline research and discussions with knowledgeable industry professionals and analysts.
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