The global programmable robots market is estimated to grow at a healthy pace within the forecast period of 2016 to 2024 on account of the increasing adoption of robots in various educational institutions as many of them are including robots in their academic curriculum. Players in this field are focusing hard on innovation so as to cater to the specific needs of the consumers. Players are also striving to achieve durability, safety, effectiveness, and robustness of robots. While robotic toys are not so much in demand these days, robotic pets have become popular and will act as an offset for the robotic toys market.
The decreasing price of robots will also be one of the reasons behind their increased adoption. The reduction in the price of robots is anticipated to be a result of a significant drop in the prices of robotic components such as sensors and actuators, among others. Some of the programmable robots are advanced mobile robots, gadgeteer, and robotic arms. Of these, advanced mobile robots may help in revolutionizing agricultural farming. Robotic arms are used in industrial robotics and automation to pick up and manipulate objects at a distance.
There are some factors that prove to be a challenge for market players in the global programming robots industry. One of the key restraining factors s that once programmed, these robots continue to operate in the same manner even if there is a need for change in the task to be performed, during emergencies. However, the fact that they can be used for various applications such as industrial controlling, mobile robotics, and also for spacecraft applications, will ensure a continued demand for programmable robots even in the future.
Global Programmable Robots Market: Overview
Programmable robots are types of automatic devices that normally perform functions ascribed through remote controls or specified programs. These programmable robotic kits range from PC-controlled robots to simple remote controlled robots and further from complex robots such as humanoids to simple wheeled robots. These robots aid in conceptualizing and understanding the theories that are used for the purpose of designing and operating robots and further augments in programming the robots with the help of easy virtual programming languages such as Java, C++, and C and also helps the users to have a wells structured mindset towards solving problems. The prime users of these programmable robots are researchers, hobbyists, and students. Programmable robots are also used for driving cars and as robotic pets among the several other applications of them.
The market intelligence report is a comprehensive review of the growth trail in terms of current, historical, and future scenarios of the global programmable robots market. It offers an evaluation of the aspects that are expected to influence the development of the market and the primary trends have also been specified in the research study. The research study also offers a broad lookout on the vendor landscape of the market through Porter’s five forces analysis. The research publication provides references of mergers and acquisitions, the research and development activities, specifics on licensing and collaborations. The report probes into the strategies related to marketing, shares, and product portfolio of the key participants in the global programmable robots market.
Global Programmable Robots Market: Trends and Opportunities
With the rising technological advances in robotics, various types of robotics are currently becoming operational in the global market. Incessant innovations in the technology of artificial intelligence and the advent of deep learning systems is bolstering the growth of the global programmable robots market. The demand for programmable robots is likely to intensify over the forthcoming years owing to the versatility of programmable robot that makes it viable for them to adapt to any kind of job, however, it is still dependent on the operational and programming skills of the user. At present, these programmable robots are employed in several applications such as cleaning homes, business assistants, and some others are employed in various end-use industries. These programmable robots are also a considered as a significant asset in the military sector for the purpose of locating and destroying armed explosives and other dangerous things.
Global Programmable Robots Market: Regional Analysis
The global programmable robots market has been segmented into Europe, North America, Latin America, Asia Pacific, and the Middle East and Africa. At present, North America holds the leading share in the market. Nevertheless, it has been projected that Asia Pacific will emerge as the leading market in terms of growth over the next couple of years owing to the growing demand from countries such as India, China, and Japan.
Global Programmable Robots Market: Companies Mentioned in the Report
The leading companies in the global programmable robots market are Orbotix Inc., RobotShop Inc., Yujin Robot Co. Ltd., WowWee Group Limited, RoboBuilder Co. Ltd., Lego Group, and Honda Motor Co. Ltd. among others.
This research report analyzes this market on the basis of its market segments, major geographies, and current market trends. Geographies analyzed under this research report include
- North America
- Asia Pacific
- Middle East and Africa
- Latin America
This report gives you access to decisive data such as:
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for the coming years
Key highlights of this report
- Overview of key market forces propelling and restraining market growth
- Up-to-date analyses of market trends and technological improvements
- Pin-point analyses of market competition dynamics to offer you a competitive edge
- An analysis of strategies of major competitors
- An array of graphics and SWOT analysis of major industry segments
- Detailed analyses of industry trends
- A well-defined technological growth map with an impact-analysis
- Offers a clear understanding of the competitive landscape and key product segments
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
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- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
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The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
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