Dublin, Nov. 22, 2023 (GLOBE NEWSWIRE) -- The "Educational Robot Market Size, Share & Trends Analysis Report By Product Type (Non-humanoid, Humanoid), By Application (Primary Education, Higher Education), By Region, And Segment Forecasts, 2023-2030" report has been added to ResearchAndMarkets.com's offering.
The global educational robot market size is expected to reach USD 5.55 billion by 2030, growing at a CAGR of 24.8% from 2023 to 2030
The growth in the market can be attributed to the increasing preference for interactive learning methods in educational institutions. These robots incorporate real-life educational models to facilitate skill acquisition and offer a wide range of information in subjects like STEAM, computer programming, linguistics, history, and geography. In addition, the incorporation of advanced mechanics, voice control, and gestures keep young students engaged while enhancing their educational experience.
This, in turn, is expected to drive the market growth over the forecast period. The rise of Artificial Intelligence (AI) technology and its integration into robotics has transformed the global education industry by providing personalized learning experiences and increased access to education while reducing the workload on teachers.
Moreover, educational robots are being programmed to suit students' individual needs, which has further improved K-12 learning, specifically for students with special needs. For instance, Children with Autism Spectrum Disorder (ASD) can be supported better by technologically advanced robots in the learning of social and communication skills. Such technological advancements are anticipated to propel the market growth over the forecast period.
In addition, the companies are entering into partnership and collaborative agreements to develop new and enhanced offerings to gain a competitive edge in the market. For instance, in February 2023, AAEON Technology Inc., a manufacturer of industrial and embedded computing platforms, partnered with PlayRobot to launch a development kit for educational robots.
This educational robot kit, developed jointly by AAEON and PlayRobot, will enable students and teachers to gain first-hand experience with AI and robotics development while introducing innovative technology to the classrooms. Such initiatives by key players are anticipated to drive the market's growth over the forecast period.
The market growth is expected to be further proliferated by favorable government initiatives across several countries. For instance, in 2022, the U.S. government increased funding for STEM activities.
The funding for Student Support and Academic Enrichment Grants increased to USD 1.3 billion, Career and Technical Education (CTE) to USD 1.4 billion, Supporting Effective Instruction State Grants to USD 2.2 billion, and 21st Century Community Learning Centers to USD 1.3 billion. This increased funding is anticipated to drive the market growth over the forecast period.
Educational Robot Market Report Highlights
- The humanoid product type segment is expected to witness a growth rate of 26.1% over the forecast period
- The segment growth is attributed to the increased product adoption due to their human-like characteristics resembling the real-life teachers
- The primary education application segment is expected to record a CAGR of 26.5% from 2023 to 2030. This is attributed to the increasing adoption of robots by educational institutions to encourage STEAM education among children aged below 10 years
- North America captured the highest market share in 2022 owing to the presence of a large number of major players and increasing investments from government organizations in robotics
Market Dynamics
Market Driver Analysis
- Ongoing Technological Advancements In Robotics
- Emphasis On Stem Education
- Investment Into Edtech By Government And Non-government Organizations
Market Restraint Analysis
- High Development Cost
- Scarcity Of Teacher Training And Upskilling Programs
Market Opportunity Analysis
- Rise In Demand For Humanoid Robots
- Increasing Numbers Of New Entrants
Industry Analysis Tools
- Porter's Analysis
- Macroeconomic Analysis
Educational Robot Market: Technology Trend
- Expanding K-12 Robotics Industry
- Cloud Robotics In Education Sector
Educational Robot Market - Regulatory Landscape
- Industry Roadmap - Evolution Of Education Robot Industry
- Educational Robot Market - Covid-19 Impact Analysis
Competitive Landscape
- Key Market Participants
- Recent Developments & Impact Analysis
- Company Categorization
- Participant's Overview
- Financial Performance
- Product Benchmarking
- Company Market Positioning
- Educational Robot Market - Company Market Share Analysis, By Region, 2022
- Company Heat Map Analysis
- Strategy Mapping
- Expansion
- Merger And Acquisition
- Collaborations
- New Product Launches
- Research And Development
Company Profiles
- Aisoy Robotics
- Blue Frog Robotics
- Lego Systems A/s
- Modular Robotics (Including Cubelets)
- Pal Robotics
- Pitsco Education Llc
- Robotis Inc.
- Softbank Robotics Group
- Rm Educational Resources Ltd. (Tts)
- Learning Resources
- Educational Insights
- Makeblock
- Artec Co. Ltd.
- Ozo Edu Inc.
- Sphero Inc.
- Wonder Workshop Inc.
- Vex Robotics Inc.
- Dobot
- Thames & Kosmos
- Wowwee Group Limited
For more information about this report visit https://www.researchandmarkets.com/r/owm5gy
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