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Educational Robots: Worldwide Market Opportunity Forecast to 2023 - Huge Potential in Developing Countries - ResearchAndMarkets.com

[July 06, 2018]

Educational Robots: Worldwide Market Opportunity Forecast to 2023 - Huge Potential in Developing Countries - ResearchAndMarkets.com

The "Educational Robot Market by Component (Hardware and Software), Type (Humanoid and Non-Humanoid), Education Level (Elementary and High School Education, Higher Education, and Special Education), and Geography - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.

The educational robot market is expected to be valued at USD 778.6 Million in 2018 and is projected to reach USD 1,689.2 Million by 2023, at a CAGR of 16.8% between 2018 and 2023. The educational robot market is segmented on the basis of components into hardware and software. The hardware component is subsegmented into sensor, actuator, power source, control system/controller, and others. The other components include body material and other electronic, electrical, and mechanical components.

The educational robot market for software is expected to grow at a higher CAGR during the forecast period. As the technological advancement will lead to growing complexity in terms of features such as inter device connectivity, AI, and autonomous operations, the value of the software part in the overall educational robot market will increase more than that of hardware. Also, the software wil assist the complex functionalities to process efficiently and accurately.

The educational robot market is segmented on the basis of type into humanoid and non-humanoid. The market for humanoids is expected to grow at a higher CAGR during the forecast period. The market for low-cost humanoids is likely to gain traction in the near future owing to the projected high growth of software.

Market Dynamics

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