The global educational robot market is estimated to reach a market size of US$4.150 billion by 2027 at a CAGR of 16.97% over the forecast period from the current estimate of US$1.385 billion in 2020. Educational robots include the collection of activities, educational resources, pedagogical philosophy, and physical platforms for transferring knowledge. Educational robots are increasingly adopted in K-12 schools worldwide owing to their effective interactive capability.
Increasing expenditure on research and development and the growing popularity of these robots as learning tool will drive their demand. The emergence of affordable educational robots will increase the growing demand for these robots. But during the projection period, the growing demand for educational robots will be constrained by the teaching staff's resistance to completely integrating robots into their curricula.
The hardware and software components of the global educational robot are divided into two categories. Because existing businesses were investing more money in research and development, software accounted for a large portion of the industry. Modern solutions are being created by new companies that are entering the industry in an effort to gain a larger share. Due to their widespread use in K–12 schools, the instructional kits that the firms offered accounted for a sizeable portion of the hardware market.
Due to the presence of businesses on a national and international scale, K–12 schools are thought to hold a sizable market share among end users. The budding adoption of robots in the classroom and the high market growth rate motivate several companies to enter the market. Several universities have their robotics departments, which develop proprietary robotic solutions for industrial, commercial, personal, and educational purposes. A rise in funding from universities, companies, and organizations to make groundbreaking advancements in robotics will boost the demand for robotic solutions in the coming years.
The global educational robot market is geographically segmented into North America, South America, Europe, the Middle East, Africa, and the Asia Pacific.
North America and Europe, which are both developed nations, are the main sources of demand for educational robots. The main driving forces in these areas are the early adoption of cutting-edge technology and the presence of high-income nations. The Asia- Pacific region will witness substantial growth in the coming years due to increasing disposable income, favourable government policies, and corporations offering cost-effective educational robots. The Middle East, Africa, and South American regions will witness modest growth over the forecast period.
Impact of COVID-19:
Due to widespread end-user adoption and rising investments and funding for start-ups, the global education technology business has been expanding tremendously. However, the educational robot business is suffering as more colleges and universities continue to use online tests and assessment tools, virtual classrooms, and other distance learning methods in the aftermath of the global pandemic and schools closing in many major economies. Additionally, the abrupt cessation of all economic activity in the area has affected educational robot production and has hampered its supply chain. Consequently, the COVID-19 pandemic has had a negative effect on global growth.
Frequently Asked Questions (FAQs)
Q1. What will be the global educational robots market size by 2027?
A1. The educational robots market is estimated to reach a market size of US$4.150 billion by 2027.
Q2. What is the size of the educational robots market?
A2. Educational Robots Market was valued at US$1.385 billion in 2020.
Q3. What are the growth prospects for the educational robots market?
A3. The global educational robots market is estimated to grow at a CAGR of 16.97% during the forecast period.
Q4. What factors are anticipated to drive the educational robots market growth?
A4. Increasing expenditure in the field of research and development and the growing popularity of these robots as learning tool will drive their demand.
Q5. Which region holds the largest market share in the educational robots market?
A5. North America and Europe hold a significant share of the educational robots market owing to the early adoption of cutting-edge technology and the presence of high-income nations.
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