The global educational robot market size is expected to reach $5,55-billion by 2030, growing at a CAGR of 24,8% from 2023 to 2030, according to a new study by Grand View Research.
The growth in the market can be attributed to the increasing preference for interactive learning methods in educational institutions.
These robots incorporate real-life educational models to facilitate skill acquisition and offer a wide range of information in subjects like STEAM, computer programming, linguistics, history, and geography.
In addition, the incorporation of advanced mechanics, voice control, and gestures keep young students engaged while enhancing their educational experience.
This, in turn, is expected to drive the market growth over the forecast period.
The rise of artificial intelligence (AI) technology and its integration into robotics has transformed the global education industry by providing personalized learning experiences and increased access to education while reducing the workload on teachers.
Moreover, educational robots are being programmed to suit students’ individual needs, which has further improved K-12 learning, specifically for students with special needs.
In addition, the companies are entering into partnership and collaborative agreements to develop new and enhanced offerings to gain a competitive edge in the market.
The market growth is expected to be further proliferated by favorable government initiatives across several countries.
Highlights of the Educational Robot Market Report include:
* The humanoid product type segment is expected to witness a growth rate of 26,1% over the forecast period.
* The segment growth is attributed to the increased product adoption due to their human-like characteristics resembling the real-life teachers.
* The primary education application segment is expected to record a CAGR of 26,5% from 2023 to 2030. This is attributed to the increasing adoption of robots by educational institutions to encourage STEAM education among children aged below 10 years.
* North America captured the highest market share in 2022 owing to the presence of a large number of major players and increasing investments from government organisations in robotics.