The global assistive robotics market hit a significant milestone in the year 2018 and is expected to proliferate all across the globe. The industry registered a significant mark of $4.1 billion in 2019 and is expected to grow at a compound annual growth rate of 22.3% between the years 2019 to 2024. The industry is marked by several factors and poses a significant threat to mundane human labor. The rising globalization, coupled with automation, has worked in favor of the industry.
Market by Top Assistive Robotics Companies, this report covers
1. Kinova Robotics
2. Focal Meditech
3. SoftBank Robotics
5. Intuitive Surgical
6. Ekso Bionics
7. Ubtech Robotics
8. Barrett Technology
9. Rewalk Robotics
When it comes to assistive robotics, there is a slew of factors that affect the growth prospects of the industry. The growth of assistive robots is factored by the use of robots in hospitals to perform remote surgeries or provide a helping hand during operations. Furthermore, the robots find a place in military activities and hence prove to be a valuable asset to the users. The assistive robots also find a lucrative option in the hospitality industry and thus has been growing aggressively.
However, despite the growth opportunities, the industry is looked at with skeptic’s eyes. The fear of loss of jobs, coupled with excessive pricing, has hurt the growth potential of the industry. However, the analysts remain positive about the growth opportunities and hence has attracted the attention of significant investors all across the globe. The industry is still in its nascent stages, and the intensive research and development are expected to hurt the growth sentiments of the industry.
The assistive robotics industry can be segmented into several leading factors, with each factor playing a crucial role in the growth of the sector. These segmentations enable one to have a view on the industry from multiple lenses and hence cannot be ignored at all costs. Some of the significant factors based on which the industry is segmented into are by type, mobility, and application. Based on mobility, the robotics industry is segmented into stationary and mobile. Based on type, the industry is segmented into physically assistive robots, socially assistive robots, and mixed assistive robots. On the other hand, assistive robot technology finds its application in functions like elderly assistance, industrial help, surgical procedures, and several others.
The assistive robotics industry has a global presence but has the lion share in the Asia Pacific region. The rise in the geriatric population, coupled with the shortage of trained health care workers, has helped the industry grow by leaps and bounds. On the other hand, North America and Europe show significant growth potentials too. The use of assistive robots for military applications and in the healthcare industry has worked in favor of the industry.
In a recent news, the government of United Kingdom is planning to fund “care robots” in order to help the aging population. A lot many countries, like Japan, have been facing similar challenges for which the government has come into play. This, in turn, will boom the growth potentials of the assistive robotics industry.
Table of Contents –Analysis of Key Points
1 Market Overview
2 Manufacturers Profiles
3 Global Assistive Robotics Sales, Revenue, Market Share and Competition by Manufacturer (2017-2018)
4 Global Assistive Robotics Market Analysis by Regions
5 North America Assistive Robotics by Country
6 Europe Assistive Robotics by Country
7 Asia-Pacific Assistive Robotics by Country
8 South America Assistive Robotics by Country
9 Middle East and Africa Assistive Robotics by Countries
10 Global Assistive Robotics Market Segment by Type
11 Global Assistive Robotics Market Segment by Application
12 Assistive Robotics Market Forecast (2019-2025)
13 Sales Channel, Distributors, Traders and Dealers
14 Research Findings and Conclusion
List of Tables and Figures
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