Market Highlights
The global programmable robots market is expected to exhibit a strong 15% CAGR over the forecast period from 2017 to 2023, according to the latest research report from Market Research Future (MRFR). The global programmable robots market is expected to reach a valuation of USD 4 billion by 2023, according to the report. The major drivers and restraints acting on the global programmable robots market are profiled in the report. The growth trajectory of the global programmable robots market is thus explained in full detail in the report, along with an analysis of the major trends having a notable impact on the market’s trajectory. Major trends observed in the global programmable robots market are analyzed and explained in detail in the report. The operations of major players operating in the global programmable robots market are also elaborated upon in the report in order to shed sufficient light on the global programmable robots market’s competitive dynamics. The report also contains a thorough analysis of the COVID-19 pandemic’s impact on the global Programmable Robots Market Report.
Robotics has the potential to elevate efficiency, transform work practices, and enhance service offerings in various sectors. Robots are influencing every industry vertical. However, building a robot is a tedious task and consumes a lot of time for drilling, soldering, programming, and other operations. This tedious task of building robots is simplified with the use of programmable robot kits. The kit contains all the electronic and mechanical components to make functional robots capable of performing elementary movements. The languages used for programming are C/C++, Python, Java, C#/.NET and Matlab. Programmable robots are autonomous robots which can be controlled by using remote control or programmed with a set of instructions. Programmable robots with AI capabilities do not require any external control to operate. They adapt to the environment, have thinking capabilities, and perform tasks on their own.
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Top Players
The top players in the market of programmable robots are The LEGO Group (Denmark), iRobot Corporation (US), Bossa Nova Robotics (US), RobotShop Inc. (Canada), Wowwee Group Ltd (Hong Kong), Evolution Robotics (US), Honda Motor Co., Ltd (Japan), Fischertechnik GmbH (Germany), SuperDroid Robots Inc. (US), and Sphero (US).
Leading Segments
The global programmable robots market has been segmented based on segments such as component and applications.
The component-based segment has included hardware and software. Hardware is also sub-segmented into actuators, sensors, programmable platforms, PC interface, power source, and others.
The application-based segment of the market has included education and entertainment. The education segment is sub-segmented into schools universities, and research institutes, whereas entertainment, is also sub-segmented into media and gaming.
Leading Regions
North America might lead the programmable robots market during the forecast period. The crucial factor influencing the expansion of the market in this region is developed economies such as Canada and the US are spending a hefty share on research and development of robotics technology. Also, escalating adoption of robotic kits in schools, universities, and research institutes for educational purpose is an added reason motivating the growth of programmable robot market.
Asia-Pacific region might also develop at a momentous rate owing to increasing awareness of robotics in education to lift up the learning process, and emerging economies such as China, Japan and South Korea that manufacture electronic components at economical rates.
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