Market research firm ResearchAndMarkets.com has released a report suggesting that the global educational robot market will grow to US$3.2bn (£2.8bn) by 2027.
The report forecasts a growth from US$1.4bn (£1.25bn) in 2022 to US$3.2bn by 2027 at a CAGR of 17.3%.
According to the research, software is set to be the fastest growing segment of the educational robot market during this forecast period.
New software solutions are being developed for use in industrial and service robots, with industrial robots requiring preventive maintenance due to the operation of multiple robots simultaneously.
Tests of how 5G can be used for the networking of industrial robots are becoming increasingly common, with T-Mobile and InDro Robotics recently collaborating on a trial using 5G for surveillance and inspection bots.
Artificial intelligence (AI) is key to the functioning of humanoid robots in areas such as movement, speech recognition and object identification; as a result, the market for software components is expected to grow quickly during the mentioned period.
Humanoid robots represent a niche but dedicated portion of the market, according to the report, and can be key to catering to the education of children with different educational needs. Collaborative robot technology has also shown potential in the support of differently abled people.
The report also outlines Europe as the second fastest growing market for educational robots during the forecast period.
UK universities, due to their English-dominant curriculum, can often be attractive for international students interested in pursuing robotics, according to ResearchAndMarkets.com.
The company also claims that the UK’s education sector has experienced shifts towards digital learning environments. This, in addition to the strong robotics sectors in countries like Germany and Italy, are a few of the driving factors enabling growth of this market in Europe.
