Impact of Covid-19 on Programmable Robots Market to Rise with Increased Spending on Emergency Products and Estimated to Growth at a CAGR of 15% by 2023

November 11 22:06 2020
Impact of Covid-19 on Programmable Robots Market to Rise with Increased Spending on Emergency Products and Estimated to Growth at a CAGR of 15% by 2023

Programmable Robots Market
Market Research Future (MRFR) highlights that the Global Programmable Robots Market 2020 is slated to grow exponentially over the review period, estimated to touch a valuation of USD 4 billion by 2023, and a healthy 15% CAGR over the review period.

Market Research Future (MRFR) report on the “Global Programmable RobotsMarket (2018-2023)” addresses the COVID-19 analysis of a critical factor affecting the market growth. MRFR reveals that the market is estimated to touch a valuation of USD 4 Billion by 2023, at a CAGR close to 15% from 2018 to 2023. Programmable robots are machines which can be remotely controlled or autonomous in nature with the help of a program kit. Machines with AI have the capability to adapt to the environment and perform repetitive tasks.

Online learning programs which offer robotics courses are the primary driver of the programmable robots market. The integration of robotics in student education programs is expected to bode well for the market. Kids from KG-12 grades with impressionable minds are drawn towards these courses and contribute towards fostering the market growth. Moreover, availability of robotic kits at low costs is another prominent market driver. Advent of deep learning and artificial intelligence can further the market growth. 

Competitive Landscape

Prominent players in the programmable robots market include Wowwee Group Ltd, The LEGO Group, Yujin Robot Co., Ltd., Honda Motor Co., Ltd, Fischertechnik GmbH, SuperDroid Robots Inc., iRobot Corporation, Toyota Motor Corporation, Robobuilder Co., Ltd., Ozobot & Evollve, Inc., Rouge Robotics, RobotShop Inc., VEX Robotics, Sphero, Evolution Robotics, Bossa Nova Robotics, and SoftBank Robotics. Investments in robotic kits is at an all-time high with venture capital firms ensuring the inflow of capital in breakthroughs. For instance, China-based Makeblock has raised close to USD 30 million in funding for creating robots and robotics kits.

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The global programmable robots market is segmented on the basis of component and applications.

  • By component, the market is segmented into hardware and software. Hardware is further sub-segmented into sensors, actuators, power source, PC interface, programmable platforms, and others.
  • By application, the market is segmented into education and entertainment. Education is further sub-segmented into schools & universities and research institutes where as entertainment is further sub-segmented into media and gaming.

Mobile applications are on an upward trajectory owing to the proliferation of smartphones. It was made popular owing to industrial automation which was controlled via applications. For instance, the Sphero Bolt cluster of robots has the ability to communicate with each other. Commands can be given to these bots via a mobile application and teaches children to create programs from stacks of code.

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Regional Analysis

Region-wise segmentation of the programmable robots market comprise North America, Europe, Asia Pacific (APAC), and Rest-of-the-World (RoW). North America is touted to be dominant in the global market standings owing to adoption of robot kits by children and college-going kids.

The APAC region is expected to expand at a stable growth rate during the forecast period owing to awareness of robotics technology in the region. Inclination of children and consumers towards robots owing to various exhibitions and fairs promoting robot use is likely to work in favor of the market.

Major Highlights of TOC Covers:

  1. Executive Summary
  2. Key Business Trends
  3. Regional Trends and Growth
  4. Product Trends
  5. End-use Trends
  6. Definition and Forecast Parameters
  7. Programmable robots Market Segmentation
  8. Programmable robots Market Landscape
  9. Vendor Matrix
  10. Company Profiles
  11. Business Overview
  12. Financial Data
  13. Product Landscape


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