Educational Robot Market Set to Experience Rapid Growth in the Coming Years
The educational robot market is projected to witness significant growth over the forecast period, with the market size expected to reach USD 3.2 billion by 2027, up from USD 1.4 billion in 2022, at a CAGR of 17.3%.
One of the main factors driving the expansion of this market is the rising demand for collaborative robots in both the industrial and educational sectors, along with the increase in research and development of humanoid robots that will revolutionise the service industry. Additionally, it is anticipated that the use of robots in the manufacturing sector would lead to the creation of new job opportunities, which will further expand the market for educational robots.
The expanding demand for collaborative robots in the educational and industrial sectors is one of the key factors driving the growth of the educational robot market. Cobots, or collaborative robots, are made to work alongside people, helping them complete tasks and increasing productivity. Cobots are a great option for educational and industrial environments because they are secure, simple to operate, and require little training.
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The expansion of humanoid robot research and product development is another element boosting the market for educational robots. Robots that resemble humans in both look and behaviour are called humanoid robots. They have a wide range of applications in many different areas, including healthcare, retail, and entertainment, and are created to interact with humans in a natural and intuitive way.
Robotics' growing adoption in manufacturing is also anticipated to create more job opportunities, which will fuel the market for educational robots to rise. There will be an increasing need for people with robotics and automation expertise as the manufacturing sector continues to implement these technologies.
ABB (Switzerland), FANUC (Japan), YASKAWA (Japan), KUKA (Germany), Universal Robots (Denmark), SoftBank Robotics Group (Japan), Hanson Robotics (China), ROBOTIS (South Korea), Robolink (US), UBTECH Robotics (China) are few major players in the educational robot market.
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