Educational Robot Market Size, COVID-19 Impact Analysis, Regional Outlook, Application Development Potential, Price Trend, Competitive Market Share & Forecast, 2021 – 2027
Report ID: GMI3423
Educational Robot Market Size is set to exhibit lucrative gains through 2027, driven by the expanding education industry and associated use of cutting-edge technologies in the sector. Rising focus on improving science, technology, engineering, and mathematics (STEM) education has further stimulated the demand for educational robots.
Educational robots support educators to enhance the teaching methods with the help of high computing power while enabling them to deliver lessons to modern education. Furthermore, the concept of educational robots is projected to help adopt the principle of computational thinking. Another factor influencing the adoption of education robots is the product’s ability to ease the workload of the educators while making the process convenient for both the teachers and students.
However, high initial investment in educational robots is expected to pose threat to the overall educational robot market revenue during the forecast timeline. Besides, high expenditure required for the R&D activities, aligned with high operational and maintenance cost would further challenge the education robot market expansion in the coming years. Increased reluctance from educators to use the product due to fear of losing jobs, will act as a limiting factor for the industry progression.
Nevertheless, ongoing developments in the sector are poised to propel the industry dynamics over the foreseeable time frame. For instance, Sphero recently introduced an indi learning robot for pre-kindergarten. As per the company officials, the product is designed to introduce early learners to the fundamentals of computational thinking, computer science principles, and STEAM, while encouraging imaginative play-based learning with real-life scenarios.
The hardware component segment is slated to record momentum across the overall educational robot market in the coming years. Education robotic hardware system comprises of different electronic, electrical, and mechanical components. Hardware is the integral component of any educational robot that is built for repeatability, speed, and handling large payloads. These attributes will augment the segment growth of education robot hardware.
Based on the application segment, educational robots are being increasingly used for higher education. Schools, universities, and other institutions across various countries are heavily investing in STEM learning, paving way for the development of educational robots. For secondary and higher secondary education, highly developed educational robots help students enhance their knowledge of robotics and programming. Additionally, high-cost humanoid robots, programmed to teach any subject, are also deemed useful in classrooms owing to their ability to capture students’ attention in robotics and programming classes. These robots act as an ideal link between practice and theory.
Asia Pacific educational robots market size is touted to observe significant gains through 2027, fueled by the increasing government initiatives for advancing education in the region. Technological developments in the field of robotics taken up by various industry players would further offer lucrative growth opportunities for the regional market. Education industry across various developing nations, like India and China is investing heftily in infrastructural development to reduce literacy rate, thus impelling the growth prospects of the market across these economies.
Prominent companies functioning in the global educational robot market are Wonder Workshop Inc., Makeblock, Co. Ltd, Ozobot & Evollve, Inc., Robotis Co., and Sphero Inc., amongst others. These leaders have been relentlessly working towards developing novel products in the market space. They have also been engaged in acquisitions, collaborations, and mergers to gain a competitive edge in the overall industry.
COVID-19 analysis on educational robot market growth
Although the education industry has been observing stellar growth during the COVID-19 pandemic realm, the market reported sluggish growth. This can be reasoned to the shutdown of schools and a paradigm shift to online education and classes. Moreover, a temporary halt in production of various hardware is touted to have a negative impact on the overall industry expansion.
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