Programmable Robots Market 2023 - Industry Insights, New Trends, Growth, And Forecast To 2033

Programmable Robots Market in terms of revenue was estimated to be worth US$ 3.2 billion in 2023 and is poised to reach US$ 10.2 billion by 2033, growing at a CAGR of 12.1% from 2023 to 2033 according to a new report published by Persistence Market Research.

The rise of activity-based learning is gaining momentum, and it is anticipated that this sector will witness ongoing expansion in the coming years. The education landscape at every stage has been significantly transformed by the advent of programmable robotics, which is now introducing robotics into educational settings, ranging from kindergarten to graduate school.

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Due to recent technological progress, it is probable that robots will find application in an increasingly diverse array of fields. The incorporation of artificial intelligence and deep learning systems is expected to generate future prospects for growth. As programmable robots possess the capacity to be versatile in performing a wide range of tasks, the demand for such robots is projected to rise in the times ahead.

The growing automation, the growing popularity of robots for educational purposes, and the rising Internet of Things technology. However, the high cost of robots is expected to hinder the growth of the market.

The robots are ideal solutions to carry out repetitive processes with accuracy and minimal errors. These robots are widely used for several applications, such as cleaning homes, business assistants, picking and sorting, and others in various residential, commercial, and industrial sectors, which propels the programmable robots market.

Programmable robots within the market refer to autonomous devices capable of executing specific functions or tasks with inherent thinking capabilities. These robots find utility across diverse domains, including entertainment and education. Notable examples of such programmable robots, like Cozmo, Vector, Jibo, Misty II, and Anki Vector, are designed for household use, featuring an array of sensors, cameras, and microphones. In residential settings, these robots serve multiple functions, encompassing activities such as playing music, setting alarms, delivering weather updates, engaging in games, capturing photos, recognizing faces, and more. As a result, the extensive application of these robots in residential contexts is on the rise, enabling homeowners to tackle intricate tasks. This increased adoption of programmable robots for residential purposes is a driving force behind the growth of the programmable robots market.

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The growing adoption of robots for education and research is the driver for Programmable Robots Market:

Programmable robots serve as a dynamic resource for enhancing Science, Technology, Engineering, and Mathematics (STEM) education, making it more engaging and enjoyable for children and students of various age groups. These robotic tools support young learners in comprehensively understanding the realms of electronics, coding, engineering, and computer science, enabling them to cultivate essential cognitive abilities like mathematical and computational thinking from an early age. These cognitive skills empower them to approach and resolve a wide spectrum of problems methodically. Educational programmable robots such as LEGO Mindstorms, Sphero, Dash and Dot,Ozobot, and VEX Robotics are examples of this category, controllable via smartphones or tablets and equipped with sensors and cameras. These robots facilitate students in honing their capacities for analytical, critical, practical, and creative thinking, which in turn drives their integration into research and educational settings, further fueling the growth of the programmable robots market.

The significant rise in awareness regarding practical learning stands out as a primary factor expected to drive substantial growth in the programmable robots market. Moreover, the evolution of programmable robots has revolutionized the educational landscape for students across all age groups, spanning from kindergarteners to university graduates. To enhance cognitive skills and foster learning in children and students, governments, schools, and universities are actively incorporating robotics education into their curriculum. Numerous educational robotics (ER) initiatives have been deployed with the aim of instructing and inspiring learners of various age brackets. For instance, Fischertechnik's educational environment offers teaching materials and kits for STEM, technology, and programming, facilitating learning and comprehension of various industry 4.0 applications in various educational institutions and training programs. This kind of utilization of programmable robots and the promotion of robotics initiatives further drive the adoption and evolution of robots, thereby contributing to the growth of the programmable robots market.

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Programmable Robots Market: Segmental Overview

The Programmable Robots Market can be categorized by its components, namely hardware and software. In the year 2023, the hardware segment dominated the programmable robots market, holding the most significant share, and it is expected to exhibit the highest Compound Annual Growth Rate (CAGR) throughout the forecast period.

In terms of its applications, the programmable robots market is divided into three categories: entertainment, research & education, and other applications. The "other" category claimed the largest market share in the programmable robots market in 2023, and it is projected to experience the most substantial CAGR during the forecast period.

Regarding geographical segmentation, the market is separated into regions such as North America, Europe, Asia Pacific, Middle East and Africa, and South America (SAM). In 2023, the North American segment led the programmable robots market in terms of market share. Conversely, the Asia Pacific region is expected to record the highest CAGR within the programmable robots market throughout the forecast period.

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