Global Programmable Robots market is expected to reach $8,083.61 million by 2027
GAITHERSBURG, Md., July 29, 2020 /PRNewswire/ -- According to Stratistics MRC, the Global Programmable Robots Market is accounted for $2,302.07 million in 2019 and is expected to reach $8,083.61 million by 2027 growing at a CAGR of 17.0% during the forecast period.
Some of the key players profiled in the Programmable Robots Market include Aldebaran Robotics Sas, Fischertechnik GmbH, Honda Motor Co., Ltd, Innovation First International Inc, iRobot Corporation, Modular Robotics Incorporated, Orbotix, Inc, RoboBuilder Co. Ltd, SoftBank Robotics Europe SAS, SuperDroid Robots Inc., The LEGO Group, and Wowwee Group Limited (Optimal Group Inc.).
Increasing adoption of robots for educational purposes and continuous innovation leading to better functionality of robots are the major factors propelling the market growth. However, high cost and time-consuming implementation are hampering the market growth.
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Programmable robots are types of automatic devices that normally perform functions ascribed through remote controls or specified programs. These programmable robotic kits range from PC-controlled robots to simple remote-controlled robots and further from complex robots such as humanoids to simple wheeled robots. The programmable robot is an automatic device that performs functions normally ascribed though programs or remote control. These robots help in understanding and conceptualizing the theories involved in designing and operating a robot and also help to program the robot using simple virtual programming languages such C, C++, The major consumers of these robots are students, hobbyists, and researchers.
Based on the application, the education segment is going to have a lucrative growth during the forecast period owing to the increasing adoption of programmable robots for educational purpose to enhance the learning and teaching process. Programmable robots in education help students to engage highly in the four subject areas namely science, technology, engineering and mathematics (STEM). It helps students to learn via project-based learning, hands-on learning, collaborative learning, authentic learning, and constructive learning approaches which stimulates the learning process.
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By geography, Asia Pacific is anticipated to hold considerable market share during the forecast period due to the rising awareness about the benefits of robotics and escalating adoption of robotic kits in the region. The Asia Pacific will emerge as the leading market in terms of growth owing to the growing demand from countries such as India, China, and Japan. Also, the increasing adoption of robotic kits in schools, universities, and research institutes for educational purpose is another reason driving the growth of a programmable robot market in the region.
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