Sports Robotic Kit Market Analysis By Weight (Light Weight (Up to 20 Lbs), Middle Weight (21 – 40 Lbs), Heavy Weight (Above 40 Lbs)), By Sales Channel (Online Sales, Offline Sales), By End User (Individual, Institutes, Professional), and Region – Global Insights 2023 to 2033
Rockville, May 03, 2023 (GLOBE NEWSWIRE) — A 10-year projection from 2023 to 2033 is provided in Fact.MR’s recent study on the Sports Robotic Kit Market. Other details include significant market-shaping aspects including drivers, constraints, and opportunities. The market is segmented into product type, payload capacity, robot axes, application, end user, and region to make the information for a clear understanding of key trends.
Fact.MR – A Market Research and Competitive Intelligence Provider: According to Fact.MR, the global sports robotic kit market is likely to reach a valuation at US$ 397.9 million in 2023 and is expected to grow at a CAGR of 13.6% during the forecast years of 2023-2033. The increasing disposable income of the parents has created the demand for smart sports equipment for the kids.
Using robotics kits, students can work in teams to solve a problem or accomplish a common goal. This is a great way to improve teamwork skills. By bringing a variety of strengths, knowledge, and concepts to the problem-solving process, online learning creates opportunities. The need to rely on one another and the unique contribution made by considering various ideas enhance social and communication skills.
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The increased participation in STEM (Science, Technology, Engineering, and Mathematics) related activities is also influenced by a growing interest in robots and coding and programming. The majority of the robots host hands-on coding challenges that give students the chance to work together to solve real-world problems. This gives students more chances to improve their teamwork skills.
Because of technical improvements, product designers are also producing novel products at affordable pricing. As a result, as sports robotic kits advance in sophistication over the ensuing years, the market for sports robotic kit is anticipated to grow significantly over the course of the forecast period.
Key Takeaways from Market Study
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The global sports robotic kit market is projected to reach the valuation US$ 1,424.2 million by 2033.
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The market witnessed 8.9% CAGR between 2018 and 2022.
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Light weight (up to 20 lbs) sub-segment will dominate the market with US$ 100.7 million valuation in 2023.
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By sales channel, online sales will dominate the market with 63.1% market share in 2023.
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Based on region, demand for sports robotic kit is expected to increase in North America & East Asia with an impressive CAGR of 23.4% and 27.2%, respectively during the forecasted period.
Extensive Application of Sports Robotic Kits in End Users Provides Robust Opportunities for Sales in Coming Years; Says a Fact.MR analyst.
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Competitive Landscape
Manufacturers must distinguish their products using cutting-edge technology and distinctive items in order to prosper in such a competitive climate. In order to maintain market positions in this competitive environment, product prices may need to be reduced, which could negatively impact manufacturer’s profit margins.
Fact.MR has provided detailed information about the price points of key manufacturers of sports robot kit positioned across regions, sales growth, production capacity, and speculative technological expansion, in the recently published report.
Major Key Players are:
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Andymark
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Battlekits
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Fingertech Robotics
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Ozo Edu, Inc
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Sphero
Market Development
The market is totally consolidated and the market players are going with both organic and inorganic market strategy to grow with the competition in the market. Customized goods and services are being offered by manufacturers, which is escalating market rivalry. Industrial sensor development are the focus of automation solution vendors. They are enticing suppliers for automation solutions to make investments in R&D and new product development. In addition, supply and demand imbalances, technological advancements, and service delivery innovations are some of the elements upending the global market for sports robotic kit.
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Segmentation of Sports Robotic Kit Market Research:
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By Weight:
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Light Weight (Up to 20 Lbs)
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Middle Weight (21 – 40 Lbs)
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Heavy Weight (Above 40 Lbs)
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By Sales Channel:
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Online Sales
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Company / Brand Website
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E-commerce Website
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Offline Sales
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Modern Trade Channel
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Electronic Stores
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Specialty Stores
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Others
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By End User:
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Individual
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Institutes
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Professional
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By Region:
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North America
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Latin America
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Europe
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East Asia
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South Asia & Oceania
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Middle East & Africa
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