Market Scope

The Global Programmable Robots Market 2020 is on track to hold a value of USD 4 billion by the year 2023, confirms Market Research Future (MRFR). It is also projected that the market could procure a growth rate of 15% from 2018 to 2023, which is the assessment period. We will provide COVID-19 impact analysis with the report.

Top Drivers and Main Deterrents

The programmable robots market can demonstrate tremendous growth in the following years owing to the surging adoption of robots across educational institutions, especially in their academic curriculum. Leading players in the industry are mostly focused on innovation with the intention of catering to certain needs of the consumers. Many of these players are also endeavoring to achieve safety, durability, robustness and effectiveness of robots, in a bid to draw in more number of consumers. Robotic pets are becoming extremely popular and are liable to offset the growth of the Programmable Robots Market in the approaching years.

The declining cost of robots will be another growth booster in the market, in line with the increasing affordability of robotic components such as actuators and sensors, among others. Some of the most sought after types of programmable robots in the market are gadgeteer, robotic arms and advanced mobile robots. Between these, advanced mobile robots are expected to revolutionize agricultural farming, while robotic arms find extensive use in automation and industrial robotics for picking up and manipulating objects from a distance. Further, programmable robots are the best choice for disinfecting, measuring vital signs, assisting border controls and delivering food and medications, which can be ideal during the corona virus pandemic. With the rising applications, the potential of robotics can become stronger in the coming years.

The MRFR report offers an impact analysis on covid-19, which reveals that in the space of a few months, the dynamics of the semiconductor industry has changed. Considering the long-term impact of covid-19, the semiconductor industry will remain fortified, since the companies have adopted the work-from-home strategy to continue with their operations. With the increasing consumption of content on the digital platforms, the need for storage solutions for laptops, data centers and other gadgets has shot up. Therefore, although short-term impact can cause a slight inconvenience, the future growth prospects look promising for the programmable robots market.

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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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