Programmable Robots Market Analysis
The global programmable robots market will touch USD 4.2 billion at a 15.0% CAGR by 2032, as per the recent Market Research Future report.
Drivers
Increasing Adoption in Education Sector to Boost Market Growth
The increasing adoption of programmable robots in the education sector will boost market growth in the forecast period. The rising popularity of the activity-based learning is favoring market growth. The revolution of the programmable robotics in fact has considerably altered the nature of the education system at every level right from kindergarten to universities that are using robotics driven courses on the curriculum. The use of such robots in education helps in facilitating the betterment of competencies in the core areas such as mathematics, engineering, technology, and life science.
Opportunities
Growing Demand in E-Commerce to offer Robust Opportunities
The growing demand for programmable robots in the e-commerce sector will offer robust opportunities for the programmable robots market in the forecast period for the mounting demand for such robots. Owing to increasing urbanization and rising consumer disposable income, the e-commerce sector is booming as consumers are getting more inclined to purchasing goods online. To cater to the demand of the customers on time, the use of programmable robots for various functions like sorting, picking, packing, and handling products & packages is fuelling market growth.
Besides, the increasing use of programmable robots during the COVID-19 epidemic in healthcare and telemedicine, e-commerce, and robust cybersecurity solutions also boosted market growth.
Restraints and Challenges
High Cost to act as Market Restraint
The high cost of programmable robots, concerns regarding data security, and complexity of such robots may act as market restraints over the forecast period.
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Key Players
· Eminent industry players profiled in the global programmable robots market report include iRobot Corporation,
· The LEGO Group,
· RobotShop Inc.,
· Bossa Nova Robotics,
· Honda Motor Co. Ltd,
· Wowwee Group Ltd,
· SuperDroid Robots Inc.,
· Fischertechnik GmbH,
· Evolution Robotics,
· Sphero,
· Toyota Motor Corporation,
· Yujin Robot Co. Ltd.,
· SoftBank Robotics,
· Ozobot & Evollve Inc.,
· Robobuilder Co. Ltd.,
· Rouge Robotics,
· VEX Robotics.
Market Segmentation
The global programmable robots market is bifurcated based on component and application.
By application, education will lead the market over the forecast period.
By component, software will domineer the market over the forecast period.
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Regional Analysis
North America to Command Programmable Robots Market
North America will command the programmable robots market over the forecast period for the demography & new dynamics in the education industry. Besides, the emergence of the interactive learning courses, high adoption of advanced technologies & growing need for smart automation solutions are adding to the growth of the market in the region.
Europe to Have Favorable Growth in Programmable Robots Market
Europe will have favorable growth in the programmable robots market over the forecast period. The palletizing system is used by various end use industries such as cosmetics, personal care, chemical, and pharmaceutical sectors. They are ideal for end-line packing of beverage and food owing to their high throughput rate, compact design, and low price. Germany grabbed the utmost market share followed by the UK in the region.
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