Educational Robot market on a global scenario was valued at US$ 773.0 Mn in 2018; it is expected to grow at a CAGR of 18.2% during the forecast period, to reach US$ 3,386.5 Mn by 2027.
Various educational institutes are showing focus on the improvement in teaching STEM (Science, Technology, Engineering, and Mathematics) disciplines. STEM helps to learn these specific disciplines of Interdisciplinary learning. Educational robots help to improve the teaching methods for STEM disciplines. Educational robots have the high computing power and help to deliver STEM lessons to modern education. It helps to learn naturally and adopt the principle of computational thinking. Moreover, the DIY kits are boon for the educational robot markets. It enables to design and program and enhances the problem learning skills among STEM students.
In developed countries, such as the US and the UK, the educational robot has gained immense popularity as the students in schools, universities, and other institutions are completely aware of the technologies. However, in developing countries of APAC and SAM, students lack the awareness of technology-driven learning. Several schools, universities, and coaching institutions are implementing learning through robots. As the robot developers are constantly upgrading their technologies to offer robust solutions, the adoption of educational robots is continuously increasing.
The educational robot market has been derived from market trends and revenue generation factors from five different regions across the globe namely; North America, Europe, Asia Pacific, Middle East, and Africa, and South America. Asia Pacific is projected to be the fastest-growing region in the global educational robot market. Whereas, North America, followed by APAC, holds the highest market share in the educational robot market in 2018.
APAC is the fastest-growing educational robot market worldwide. The region is the biggest innovator in the consumer robot space. As the region’s most innovative robotics start-ups continue developing their products, they’re increasingly looking to expand globally. For instance, start-ups such as Makeblock have already indicated their global ambitions, and others are rapidly following. Further, in 2017, Tencent Holdings, a Chinese internet giant, has led a US$ 41 Mn funding round for Wonder Workshop, US educational robot company, as it looks for expansion in the APAC region owing to the growing demand for STEM education. The company has partnered with MindWorks Ventures as well as an education publishing company Classroom to expand its presence in Hong Kong. The company’s products are already employed in over 150 primary and secondary schools in Hong Kong.
In developing nations of APAC, the use of an educational robot in the schools is yet not as common as it is in the developed nations worldwide. For instance, in Indonesia, there are only quite a few schools that have employed robots for the learning process. Most of these are high profile schools, such as reputable private schools or international schools. Since most of the countries in the APAC region still lag basic education, the market for the educational robot is these countries are very less.
Some of the other notable players in the global educational robot market include Boyd Corporation, Aisoy Robotics, Hanson Robotics, Lego Group, Modular Robotics, Pal Robotics, Probotics America, Qihan Technology Co., Robothink, Robotis, and Softbank Robotics, among others.
Educational Robot Market - Geographic Breakdown, 2018
The report segments the global educational robot market as follows:
Global Educational Robot Market – By Type
Global Educational Robot Market – By Application
Global Educational Robot Market – By Geography
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