Programmable Robots Industry, Technological Advancement, Top Key Players, Financial Overview and Forecast to 2030

 

According to Market Research Future (MRFR), the global programmable robots market is expected to reach USD 4 billion at a CAGR of 15% from 2017 to 2023 (forecast period). The report discusses and examines the effects of the outbreak of COVID-19 on the global programmable robots market, including possible opportunities and threats, drivers, and risks.

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Robotics has the potential to increase efficiency, transform work practices, and enhance service offerings. Robots affect every vertical industry. But building a robot is a tedious task that takes a lot of time for drilling, soldering, programming, and so on. This time-consuming task of building robots is simplified with the use of a programmable robot kit. The kit includes all the electronic and mechanical components needed to make a functional robot capable of performing elementary movements. The programming languages used are C/C++, Python, Java, C#/.NET, and Matlab. Programmable robots are autonomous robots that can be controlled by using a remote control or programmed with a set of instructions. Programmable robots with AI capabilities do not need external control. It adapts to the environment, has thinking capabilities, and execute tasks on its own.

Market Dynamics

Growing adoption of programmable robots for educational purposes to improve the learning and teaching process accelerates the growth of the market for programmable robots. In addition, the availability of an open-source platform providing customization features to program the robots and the availability of low-cost robotic kits are boosting the growth of the market for programmable robots. However, lack of awareness limits the development of the market.

Programmable robots in education help students be highly involved in the four subject areas: science, technology, engineering, and mathematics (STEM). It helps students learn through project-based learning, hands-on learning, collaborative learning, authentic learning, and constructive learning methods that enhance the learning process. Programmable robots are also used for entertainment purposes for gaming and media. Home entertainment robots promote interaction between humans and robots. Humanoid robots, robot cats, or dogs are provided with sensors and vision to communicate with people, play games, and compete. These robots are also used as tour guides in service industries, such as theme parks or museums, to provide tourists with information and also add value as entertainment. The robots used for domestic purposes are primarily used for assistive tasks for older people.

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Regional Analysis

The geographical analysis of the global programmable robots market is done for North America, Europe, Asia Pacific, and the rest of the world.

North America is predicted to dominate the market for programmable robots during the forecast period. Well-established economies, such as the United States and Canada, have invested a large share in research and development of robotics technology which is a significant factor influencing the market's growth in this region. Increased adoption of robotic kits in schools, universities, and research institutes for educational purposes is another reason for the development of the market for programmable robots. The Asia Pacific is expected to expand at a significant pace due to growing awareness of robotics in education to improve the learning process and emerging economies such as China, Japan, and South Korea, which produce electronic components at economical rates.

Market Segmentation

The global programmable robots market has been segmented based on components and applications.

By component, the global programmable robots market has been segmented into hardware and software. Hardware is further divided into sensors, actuators, power source, PC interface, programmable platforms, and others.

By application, the global programmable robots market has been segmented into education and entertainment. Education is further divided into schools & universities, and research institutes, whereas entertainment, is further divided into media and gaming.

Key Players

Notable players in the market of programmable robots are iRobot Corporation (US), Honda Motor Co., Ltd (Japan), The LEGO Group (Denmark), RobotShop Inc. (Canada), Bossa Nova Robotics (US), Wowwee Group Ltd (Hong Kong), Fischertechnik GmbH (Germany), Evolution Robotics (US), SuperDroid Robots Inc. (US), and Sphero (US).

Other participants include Toyota Motor Corporation (Japan), Robobuilder Co., Ltd. (South Korea), Yujin Robot Co., Ltd. (South Korea), Ozobot & Evollve, Inc. (US), SoftBank Robotics (Japan), Rouge Robotics (Canada), and VEX Robotics (US) among others.

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