Europe’s Educational Robot Market is Expected to Grow at a CAGR of over 20.7% During 2021-2028 – ResearchAndMarkets.com
According to a new market research study on “Europe Educational Robot Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Type and Application,” is expected to reach US$ 927.73 million by 2028 from US$ 248.12 million in 2021. The market is estimated to grow at a CAGR of 20.7% from 2021 to 2028. The report provides trends prevailing in the Europe educational robot market along with the drivers and restraints pertaining to the market growth. Use of robots for autism is the major factor driving the growth of the Europe educational robot market. However, the huge capital required for research & development of robots hinder the growth of the Europe educational robot market.
Europe is one of the key regions for the growth of the educational robot market with the presence of many developed countries such as Germany, UK, France, Italy, Norway, and Sweden, where education spending is quite high in comparison to other regions coupled with high investments in robotic startups. Also, the high adoption of advanced technology solutions in various industries makes this region an ideal market for the growth of educational robot market. All these countries are characterized by the presence of large number of companies, especially in the education technology sector. Presently, Russia, UK, Spain, Italy, Germany, Turkey, and France are some of the major countries that are affected in a negative manner due to COVID-19 outbreak. Due to COVID-19 outbreak, the governments in various European countries have imposed lockdowns/movement restrictions and closed the educational institutions to contain the outbreak. This is expected to negatively impact the demand for educational robots from these institutions. Moreover, the rapid spread of the covid-19 infection has also disrupted the supply chain of the market thereby negatively impacting the growth of the market.
The market for educational robot market is segmented into type, application, and country. Based on type, the educational robot market is segmented into humanoid and non-humanoid. In 2020, the non-humanoid segment held the largest share Europe educational robot market. Based on application the educational robot market is categorized into primary education and secondary education, higher education and others In 2020, the higher education segment held the largest share Europe educational robot market. Based on the country the educational robot market is categorized into Germany, France, Italy, UK, Russia, Rest of Europe.
Aisoy Robotics; Lego System A/S; PAL Robotics; Sanbot Innovation Technology. Ltd; SoftBank Robotics Group Corp. are among the leading companies in the Europe educational robot market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2016 Aisoy Robotics announced its joint venture with UMH Researchers to further expand its competencies of their robot-assistant for treating children suffering from autism spectrum disorder (ASD).