Analysis on the Global Assistive Robotics Market 2019-2024: Socially & Physically Assistive Robots - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Nov 13, 2019--
The “Assistive Robotics Market - Growth, Trends, and Forecast (2019 - 2024)” report has been added to ResearchAndMarkets.com’s offering.
The assistive robotics market is expected to register a CAGR of 21% over the forecast period of 2019-2024.
Recent breakthroughs in robotics and artificial intelligence will accelerate the synthesis of man and machine. Japanese android maker predicts that highly intelligent, self-aware and helpful around the house, the robots of the future could look and act just like humans and even become their friends.
A rise in the geriatric population drives the market. According to United Nations, data from the world population says that by 2050, one in six people in the world will be over age 65 (16%), up from one in 11 in 2019 (9%). Considering this data, at the age of 65 or above, it shows higher symptoms of mild cognitive impairment (MCI) or early dementia. This says that the demand for assistive robotics will increase in the future.
The adoption of robot-assisted surgery is driving the market. Surgeons who use the robotic system find that for many procedures it enhances precision, flexibility, and control during the operation and allows them to better see the site, compared with traditional techniques. According to the Accenture survey in the United States in 2018, the random base surveys for more than 2000 respondents say that 46% of those aged 18-34 prefer robot-assisted surgery and the market penetration is high in the United States, where Spinal surgery is a common symptom. This enhances the demand for robot-assisted surgery and will show high growth in the coming years globally.
Lack of social awareness about the benefits of adopting assistive robotic systems is restraining the market to grow. This can challenge the market especially for elderly assistance where their uneven perceptions regarding robot machines may hinder them to take its service advantages.
Key Market Trends
Socially Assistive Robots (SAR) Holds a Significant Share in the Market
North America Accounts for a Significant Market Share
The assistive robotics market is highly competitive and consists of several major players. In terms of market share, few of the major players currently dominate the market. These major players with a prominent share in the market are focusing on expanding their customer base across foreign countries. Key players are Kinova, Ekso Bionics Holdings Inc., Cyberdyne Inc., etc.
Recent developments in the market are:
Key Topics Covered
1.1 Study Assumptions
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Rise in the Geriatric Population
4.2.2 Adoption of Robot-Assisted Surgery
4.3 Market Restraints
4.3.1 Lack of Social Awareness About the Benefits of Adopting Assistive Robotic Systems
4.4 Value Chain Analysis
4.5 Industry Attractiveness - Porter’s Five Force Analysis
5 MARKET SEGMENTATION
5.1 By Types
5.1.1 Socially Assistive Robots
5.1.2 Physically Assistive Robots
5.1.3 Other Types
5.2.1 North America
5.2.4 Latin America
5.2.5 Middle East & Africa
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.2 Ekso Bionics Holdings Inc.
6.1.3 Cyberdyne Inc.
6.1.4 Focal Meditech B.V.
6.1.5 ReWalk Robotics Inc.
6.1.7 Fourier Intelligence Co. Ltd.
6.1.8 F&P Robotics AG
6.1.9 Axosuits SRL
6.1.10 Hyundai Motors
7 INVESTMENT ANALYSIS
8 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/rvvwyk
View source version on businesswire.com:https://www.businesswire.com/news/home/20191113005638/en/
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INDUSTRY KEYWORD: TECHNOLOGY OTHER TECHNOLOGY
SOURCE: Research and Markets
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PUB: 11/13/2019 11:27 AM/DISC: 11/13/2019 11:27 AM