New York, May 25, 2023 (GLOBE NEWSWIRE) -- Persistence Market Research estimates that a total of US$ 3.2 billion will be generated by the programmable robots market in 2023, up from US$ 2.8 billion in 2022. According to industry experts, US$ 3.2 billion will be generated in 2033, which represents a 12.1% CAGR.
The trend toward activity-based learning is increasing in popularity, it is expected that this vertical will continue to experience growth in the near future. Education at all levels has been profoundly changed by the revolution of programmable robotics, which is bringing robotics into the classroom from kindergarten to graduate school.
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With recent technological advances, robots are likely to be adopted for an expanding range of applications. Future growth opportunities are likely to be created by the integration of artificial intelligence and deep learning systems. As programmable robots have the ability to adapt to a wide variety of jobs, the demand for programmable robots is expected to increase in the future.
A new paper published in 2019 describes how scientists hope one day to program xenobots to perform useful tasks. The researchers believe that technological advances in research areas such as machine learning, soft body simulations, and bioprinting will provide an opportunity to broaden the number of potential applications for this technology in the future.
Due to the ease with which novel proteins are expressed in Xenopus cells and the ease with which synthetic biology algorithms can be developed, a wide range of applications can be developed. Scientists predicted that xenobots would be useful in medicine and other areas of research. In addition to helping treat cancer, it is also expected to maintain the cleanliness of aquatic bodies.
Key Takeaways from Market Study
- Sales of hardware components for programmable robots are expected to reach 12% in the next few years.
- According to estimates, the education application market will grow by 11.9% over the next ten years.
- By 2033, the United Kingdom's programmable robot market is expected to reach US$ 490.1 million.
- During the coming few years, the programmable robots market in Japan is predicted to grow at a CAGR of 11.5%.
- By 2033, the programmable robot market in South Korea is expected to grow to US$ 392.8 million.
"As practical learning and advanced technologies have become increasingly popular, programmable robots are expected to grow in popularity on the market. A combination of the evolution of robots and the enhancement of education systems will expand the market in the coming years,” says an analyst at Persistence Market Research.
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Market Segmentation
- By Component (Hardware, Software)
- By Application (Entertainment, Education, Household, Other)
Competitive Landscape
To drive growth in the market for programmable robots, significant investment is made in research and development. Additionally, market participants are developing new products, acquiring or merging companies, investing more, and collaborating to expand their global presence. Cost-effective products will benefit programmable robot companies in an environment of intense competition.
Top players include:
- Sphero
- RobotShop Inc.
- Yujin Robot Co. Ltd.
- WowWee Group Limited
- RoboBuilder Co. Ltd.
- Lego Group
- SoftBank Robotics
- iRobot Corporation
- Honda Motor Co., Ltd.
- Evolve Inc.
Recent Developments
- In April 2023, Carlisle High School acquired two robots (Salt and Pepper) to assist with curriculum development. Pepper was acquired with the assistance of a $55,000 supplemental education equipment grant from the Pennsylvania Department of Education. In order to market their career and technology programs to younger students, high school students brief them on what they offer.
- In May 2023, Intrinsic's Flowstate will simplify industrial robotics. As part of Open Robotics' democratization of development initiative, this platform leverages the work of the organization. As well as democratizing access to robotics, they plan to create a robotics ecosystem. As simple as establishing a website or app for a mobile device, they are building intelligent robotic solutions.
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Know More about Report Inclusions
Persistence Market Research published a new market report on the programmable robot’s market, covering a global industry analysis of 2018-2022 and forecasts for 2023 to 2033. This research report provides compelling insights on the basis of product type, application outlook, and sales channel, across all major regions.
The report also includes forecast factors and vital macroeconomic factors that are anticipated to boost the growth of the global market. It also addresses the restraints that are projected to hinder market growth, along with the latest trends and potential opportunities in the market.
For additional information on how programmable robot’s sales will increase in the near future, write to the team of expert research analysts at media@persistencemarketresearch.com
About the Electronics, Semiconductors, and ICT Division at Persistence Market Research
Expert analysis, actionable insights, and strategic recommendations – the Electronics, Semiconductor, and ICT team at Persistence Market Research helps clients from all over the globe with their unique business intelligence needs. With a repository of over 500 reports on electronics, semiconductors, and ICT, of which, 100+ reports are specific for ICT, the team provides end-to-end research and analysis on regional trends, drivers for market growth, and research development efforts in the electronics, semiconductor, and ICT industry.
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