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Programmable Robots Market will grow at 14.20% CAGR to exceed 3.03Bn, Globally By 2022

News   •   Jan 19, 2018 07:17 EST

A robot which is also called a droid is a machine especially one programmable by a computer. A robot is capable of carrying out a complex series of actions automatically. Robots can be guided by an external control device or the control may be embedded within. Robots may be constructed to take on human form but most robots are machines designed to perform a task with no regard to how they look. A robot which can be programmed for a given task then reprogrammed for others known as programmable robots. Each programmed set of steps may involve any number of complex and repetitive tasks which is also called as a reprogrammable robot.

Programmable robots are used in programming like Java, C, C++ and many others.

According to the report, the programmable robots market was valued 1,369.37 million in 2016 and is expected to reach around USD 3.03 Billion by 2022, at a CAGR 14.20% for the forecast period from 2017 to 2022.

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Adoption of robots in research, military, and manufacturing industries along with use in educational sector drives the growth of programmable robots market. The however high initial cost for the design and development of the robot is the major restraints for the programmable robots market. Moreover, inadequate awareness in the developing countries is also expected to hamper the growth of the market. Nevertheless, constantly ongoing research and development for technological advancement and features are likely to open new opportunities for the programmable robots market in near future.

The global programmable robots market is segmented into application, type, and regions. The application segment covered under this study includes entertainment, education sectors, household, research, and machinery. The type segment for programmable robot market includes hardware and software. The market is analyzed based on five regions namely North America, Europe, Asia-Pacific, Latin America and the Middle East and Africa.

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The leading companies in the global programmable robots market are Honda Motor Co., Ltd., The LEGO Group, Aldebaran Robotics Sas, Innovation First International, Inc., Wowwee Group Limited, Orbotix, Inc., Evollve, Inc., Bossa NOVA Robotics, Inc., Robobuilder Co., Ltd., Robotshop, Inc., Romotive, Inc. and Yujin Robot Co., Ltd..

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