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Global Mechatronics and Robotics Courses Market Key Insights
During the forecast period of 2022-2031, the global mechatronics and robotics courses market is expected to reach an estimated value of ~USD 2.5 billion by 2031, by expanding at a CAGR of ~8%. The market further generated revenue of ~USD 1.8 billion in the year 2021. Major key factors propelling the growth of the mechatronics and robotics courses market worldwide are the increasing number of students and the original equipment manufacturer’s increased demand for mechatronics and robotics (OEM).
Market Definition of Mechatronics and Robotics Courses
Engineering disciplines including electronics, mechanical engineering, computer engineering, telecommunications engineering, systems engineering, and control engineering are all combined in the scientific field of mechatronics. Computers and processors used in electronics assist in monitoring and controlling. High-end electromechanical systems are made possible by the integration of these electronic and mechanical components. These electromechanical components are used in medical devices, autonomous automobiles, and autonomous transportation.
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Global Mechatronics and Robotics Courses Market: Growth Drivers
The growth of the global mechatronics and robotics courses market can majorly be attributed to the launch of several advanced mechatronics and robotics products by the key players operating in the market. For instance, Neato Robotics, Inc. updated its software on September 02, 2021, enabling Google Assistant voice instructions to be understood by Neato robots. Multiple languages are also supported by this integration.
On the other hand, the market growth can also be attributed to several technological advancements and innovations occurring in the field of mechatronics and robotics are also projected to drive the market growth. For instance, ABB announced its membership in the Open Manufacturing Platform (OMP) on July 6, 2021. By enabling greater value-based robotic automation for businesses, OMP hopes to foster manufacturing innovation and hasten the digital transition.
The global mechatronics and robotics courses market is also estimated to grow majorly on account of the following:
Global Mechatronics and Robotics Courses Market: Restraining Factor
The two biggest constraints limiting market expansion are a lack of equipment in the educational environment and the high cost of courses.
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Global Mechatronics and Robotics Courses Market Segmentation
The portion of the online course that has seen the most growth is expected to do so over the next years due to the pandemic’s widespread popularity. The universities offering online degrees in mechatronics and robotics and making the educational process simple for students are to blame for the segment’s expansion. Additionally, the rising acceptance of online degrees and their strong employment prospects are expected to fuel the sector’s expansion. Three-quarters of US educational institutions, or 76%, depended on these online platforms. Rising online institutions raise the demand for mechatronics and robotics courses.
Owing to manufacturing businesses’ rapid adoption of mechatronics and robotics technology and increased student demand for formal mechatronic and robotic courses, Europe held the greatest market share in 2021. For instance, 28 percent of EU residents between the ages of 16 and 74 reported taking online courses in 2021. The region’s need for mechatronics and robotics courses is growing along with the number of online students.
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The market research report on global mechatronics and robotics courses also includes the market size, market revenue, Y-o-Y growth, and key player analysis applicable for the market in North America (U.S., and Canada), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), and Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa).
Key Market Players Featured in the Global Mechatronics and Robotics Courses Market
Some of the key players in the global mechatronics and robotics courses market are Arm Limited, Bosch Rexroth AG, Hennepin Technical College, ABB Ltd., Novatech Robo Pvt Ltd., Neato Robotics, Inc., Siemens, KUKA AG, YASKAWA ELECTRIC CORPORATION, and Mechatronics Labs S.r.l. among others.
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