Programmable Robots Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 9.66 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Programmable Robots Market Analysis
The programmable robots market is expected to register a CAGR of 9.66% during the forecast period. The growth of the market is due to the increasing adoption of robots for educational purposes and continuous innovation leading to better functionality of robots.
- The use of programmable robots in the education sector facilitates the improvement of competencies in core areas, like science, technology, engineering, and mathematics. Moreover, Honda has been continually investing in research activities for programmable robots to help in the development of next-generation mobility, like ASIMO, walking assist devices, UNI-CUB, and other technologies.
- However, the COVID-19 pandemic is expected to impact the growth of the market in the shorter run. Product innovations and new product launches are especially expected to be affected, as all major economies that are the major centers of consumer robotics development have been crippled by the outbreak of the virus. In the post -COVID-19 scenario, the market is expected to experience a major boom as parents may increasingly prefer limited social interaction and engage their kids with robots for various purposes.
Programmable Robots Market Trends
This section covers the major market trends shaping the Programmable Robots Market according to our research experts:
Increasing Adoption of Robots for Educational Purposes
- The growing popularity of activity-based learning is expected to augment market growth in this vertical. The revolution of programmable robotics has considerably changed the nature of education at all levels, starting from kindergarten schools to graduate universities, which have been integrating robotics driven courses in their curriculums.
- Many vendors are undertaking intensive R&D activities to better understand the need for robotics in the education sector. Fischertechnik introduced a learning environment to understand Industry 4.0 applications in vocational schools and training, along with understanding research, teaching, and development at universities, in companies, and in IT departments.
- New products are also expected to augment market growth. Leveraging AI, a new programmable robot named Luka the Owl is anticipated to be introduced in 2020, which can read from a database of 50,000 books to young children.
North America is Expected to Remain the Largest Market
- The demographics and emerging dynamics in the education sector are expected to be one of the major drivers of the market in the region. The introduction of interactive learning courses is one of the major components driving the market.
- In the US eduation sector, according to the Labor Department's projections, the universities in the country are expected to produce only 29% of the required graduates to fill 1.4 million computer specialist job openings. Such a scenario is expected to create the need for programmable robots in this sector.
- Furthermore, the aging population of the country is leading toward the introduction of programmable robots in the cosnsumer sector. Intuition Robotics Ltd is expected to introduce ElliQ, a social robot for older adults, which is currently in beta testing in the United States.
Programmable Robots Industry Overview
The competitive landscape of the market remains fragmented, with a number of players developing products based on various applications and specific consumer needs. Some of the recent developments in the market are as follows:-
- Jan 2020 - Lego announced the launch of its new Spike Prime robotics kit, which was designed to introduce middle school-aged students to robotics, engineering, and coding. These kits are an upgrade and more goal-oriented, as compared to the earlier introduced Mindstorms kits.
Programmable Robots Market Leaders
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The LEGO Group
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Honda Motor Co. Ltd
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SoftBank Robotics Europe SAS
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WowWee Group Limited
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Fischertechnik Company
*Disclaimer: Major Players sorted in no particular order
Programmable Robots Market Report - Table of Contents
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1. INTRODUCTION
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1.1 Study Deliverables
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1.2 Study Assumptions
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1.3 Scope of the Study
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2. RESEARCH METHODOLOGY
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3. EXECUTIVE SUMMARY
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4. MARKET DYNAMICS
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4.1 Market Overview
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4.2 Market Drivers
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4.2.1 Increasing Adoption of Robots for Educational Purposes
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4.2.2 Continuous Innovation Leading to Better Functionality of Robots
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4.3 Market Restraints
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4.3.1 High Cost and Time Consuming Implementation
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4.4 Porters Five Forces Analysis
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4.4.1 Threat of New Entrants
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4.4.2 Bargaining Power of Buyers/Consumers
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4.4.3 Bargaining Power of Suppliers
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4.4.4 Threat of Substitute Products
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4.4.5 Intensity of Competitive Rivalry
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4.5 Assessment of Impact of COVID-19 on the Industry
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5. MARKET SEGMENTATION
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5.1 Component
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5.1.1 Hardware
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5.1.2 Software
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5.2 Application
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5.2.1 Entertainment
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5.2.2 Education
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5.2.3 Household
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5.2.4 Other Applications
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5.3 Geography
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5.3.1 North America
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5.3.2 Europe
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5.3.3 Asia-Pacific
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5.3.4 Rest of the World
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6. COMPETITIVE LANDSCAPE
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6.1 Company Profiles
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6.1.1 iRobot Corporation
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6.1.2 The LEGO Group
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6.1.3 Modular Robotics Incorporated
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6.1.4 RoboBuilder Co. Ltd
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6.1.5 Innovation First International Inc.
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6.1.6 SoftBank Robotics Europe SAS
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6.1.7 Honda Motor Co. Ltd
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6.1.8 Wowwee Group Limited (Optimal Group Inc.)
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6.1.9 Fischertechnik GmbH
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6.1.10 SuperDroid Robots Inc.
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- *List Not Exhaustive
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7. INVESTMENT ANALYSIS
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8. MARKET OPPORTUNITIES AND FUTURE TRENDS
Programmable Robots Industry Segmentation
A programmable robot is a device that performs various automated functions normally ascribed though programs or remote control. These programmable robotic kits, ranging from simple remote-controlled to PC-controlled robots, are used in education, entertainment, and research, among other applications.
| Component | |
| Hardware | |
| Software |
| Application | |
| Entertainment | |
| Education | |
| Household | |
| Other Applications |
| Geography | |
| North America | |
| Europe | |
| Asia-Pacific | |
| Rest of the World |
Programmable Robots Market Research FAQs
What is the current Programmable Robots Market size?
The Programmable Robots Market is projected to register a CAGR of 9.66% during the forecast period (2024-2029)
Who are the key players in Programmable Robots Market?
The LEGO Group, Honda Motor Co. Ltd, SoftBank Robotics Europe SAS, WowWee Group Limited and Fischertechnik Company are the major companies operating in the Programmable Robots Market.
Which is the fastest growing region in Programmable Robots Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Programmable Robots Market?
In 2024, the North America accounts for the largest market share in Programmable Robots Market.
What years does this Programmable Robots Market cover?
The report covers the Programmable Robots Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Programmable Robots Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Programmable Robots Industry Report
Statistics for the 2024 Programmable Robots market share, size and revenue growth rate, created by Mordor Intelligenceā¢ Industry Reports. Programmable Robots analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
Programmable Robots Market Report Snapshots
