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.

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.

A robot is an electromechanical machine operated by electronic circuitry or computer program. They can be autonomous or semi-autonomous. The study that deals with the operation, construction, design, and application of robots is called robotics. The programmable robot is a mechanical device that functions through remote control or programs and can also be PC controlled. Programmable robots are used in programming like Java, C, C++ and many others. Most of the time end users are students and researchers among others. The market for programmable robots is anticipated to expand at a CAGR of 14.20% during the forecast period from 2017 to 2022 and market is expected to reach approximately 3037.51 million in terms of revenue by 2022.

The programmable robots market players have been focusing on the innovations in terms of technological advancements to cater to the specific needs of several consumers and to increase the safety, durability, and robustness of these robots.

Increasing adoption of robots in the education sector and research sector stimulates the growth of educational robots is one of the key drivers which drive the growth of the programmable robot market. The high initial cost of the design and development of the robot is the major restraints for the programmable robots market. Improving the durability and robustness of programmable robots can be one of the challenges for the programmable robots market.

The global programmable robots market is segmented into application, type, and regions. The application segment which 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.

The major participants which includes 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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