HOME Research Insight SoftBank (Japan) and ROBOTIS (South Korea) are the Most Players in the Educational Robot Market

SoftBank (Japan) and ROBOTIS (South Korea) are the Most Players in the Educational Robot Market

The educational robot market is expected to grow from USD 778.6 Million in 2018 to USD 1,689.2 Million by 2023, at a CAGR of 16.8% between 2018 and 2023. The educational robot market is highly competitive with the presence of numerous big and small players. The market is largely dominated by the companies in APAC, followed by those in Europe and the US. While the big players dominate the market through their brand image, the small players offer low-cost components and generate pricing pressure in the market. As of 2017, the educational robot market was dominated by SoftBank (Japan), ROBOTIS (South Korea), PAL Robotics (Spain), Hanson Robotics (Hong Kong), QIHAN Technology Co. (China), DST Robot Co. (South Korea), Probotics America (US), Wonder Workshop (US), Aisoy Robotics (Spain), and BLUE FROG ROBOTICS (France), among many others.

Most players have adopted the strategies of product launches and expansions to expand their product portfolio, sales, and distribution network and to strengthen their market share and position in the overall educational robot market. Other adopted strategies include agreements, acquisitions, and partnerships. These strategies have been adopted to achieve growth and to stay competitive in the educational robot market. The increasing demand for technically advanced robots with high teaching capabilities and the emergence of several new industrial and service applications encouraged companies to adopt these strategies.

SoftBank (Japan) is a holding company engaged in the management of its group companies. It provides information technology and telecommunications services. The company was founded in September 1981 and has its headquarters in Tokyo, Japan. The company operates its business through the following segments: Domestic Telecommunications, Sprint, Yahoo Japan, Distribution, Arm, and Others. Softbank has established SoftBank Robotics Group (formerly SoftBank Robotics Holdings) as an intermediate holding company within the SoftBank Group to oversee robotics businesses both in Japan and abroad. The companies under the SoftBank Robotics Group umbrella develop robots and are dedicated to continued research in the field of robotics and related products and services. The company offers humanoid robots Nao and Pepper for the educational robot market. In June 2017, the group entered into an agreement to acquire Boston Dynamics (US) and Schaft (Japan) from Alphabet (US). In June 2015, SoftBank entered into an agreement with Alibaba (China) and Foxconn (Taiwan) to invest in Softbank’s robotics business.

ROBOTIS (South Korea) is a robotic solution provider engaged in the manufacturing, marketing, and sale of humanoid robots for various groups, ranging from K-16 to research institutions and industries. The company was founded in 1999 and is based in Seoul, South Korea. It has presence in the Americas. The company’s product portfolio includes ROBOTIS Kidslab, ROBOTIS Academy, ROBOTIS Dynamixel System, robot parts, controller, manipulator, and software. ROBOTIS focuses on strengthening its core areas to increase its market share in the smart servos, industrial actuators, manipulators, open-source humanoid platforms, educational robotic kits, humanoids, TurtleBot, and tech toys space. In the field of educational robotics, the company has made different R&D, as well as strategic collaborations, with various institutes and organizations, such as Purdue University (US), Virginia Polytechnic Institute and State University (US), Penn Engineering (US), Open Source Robotics Foundation (ROS, US), and Intel (US). Also, the company focuses on product launch; for instance, in May 2017, ROBOTIS introduced “TurtleBot3” at the 2017 IEEE ICRA Conference in Singapore.

Related Reports:

Educational Robot Market by Component (Hardware and Software), Type (Humanoid and Non-Humanoid), Education Level (Elementary and High School Education, Higher Education, and Special Education), and Geography - Global Forecast to 2023

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