Programmable Robots Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The Programmable Robots Market is Segmented by Component (Hardware and Software), Application (Entertainment, Education, and Household), and Geography.

Market Snapshot

Programmable Robots Market Bar Graph
Study Period:

2018 - 2026

Base Year:

2020

Fastest Growing Market:

Asia Pacific

Largest Market:

North America

CAGR:

9.66 %

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Market Overview

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.

Scope of the Report

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

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Key Market Trends

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.
Programmable Robots Market Trends

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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 Market Growth By Region

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Competitive Landscape

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.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

      1. 4.2.1 Increasing Adoption of Robots for Educational Purposes

      2. 4.2.2 Continuous Innovation Leading to Better Functionality of Robots

    3. 4.3 Market Restraints

      1. 4.3.1 High Cost and Time Consuming Implementation

    4. 4.4 Porters Five Forces Analysis

      1. 4.4.1 Threat of New Entrants

      2. 4.4.2 Bargaining Power of Buyers/Consumers

      3. 4.4.3 Bargaining Power of Suppliers

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry

    5. 4.5 Assessment of Impact of COVID-19 on the Industry

  5. 5. MARKET SEGMENTATION

    1. 5.1 Component

      1. 5.1.1 Hardware

      2. 5.1.2 Software

    2. 5.2 Application

      1. 5.2.1 Entertainment

      2. 5.2.2 Education

      3. 5.2.3 Household

      4. 5.2.4 Other Applications

    3. 5.3 Geography

      1. 5.3.1 North America

      2. 5.3.2 Europe

      3. 5.3.3 Asia-Pacific

      4. 5.3.4 Rest of the World

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Company Profiles

      1. 6.1.1 iRobot Corporation

      2. 6.1.2 The LEGO Group

      3. 6.1.3 Modular Robotics Incorporated

      4. 6.1.4 RoboBuilder Co. Ltd

      5. 6.1.5 Innovation First International Inc.

      6. 6.1.6 SoftBank Robotics Europe SAS

      7. 6.1.7 Honda Motor Co. Ltd

      8. 6.1.8 Wowwee Group Limited (Optimal Group Inc.)

      9. 6.1.9 Fischertechnik GmbH

      10. 6.1.10 SuperDroid Robots Inc.

    2. *List Not Exhaustive
  7. 7. INVESTMENT ANALYSIS

  8. 8. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability

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Frequently Asked Questions

The Programmable Robots Market market is studied from 2018 - 2026.

The Programmable Robots Market is growing at a CAGR of 9.66% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

North America holds highest share in 2020.

  • The LEGO Group
  • Honda Motor Co. Ltd
  • SoftBank Robotics Europe SAS
  • WowWee Group Limited
  • Fischertechnik Company

Are the major companies operating in Programmable Robots Market.

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