Assistive Robotics Market by Mobility, Type (Physically, Socially, Mixed Assistive), Application (Elderly Assistance, Companionship, Handicap Assistance, Surgery Assistance, Industrial, Defense, Public Relations), and Geography - Global Forecast to 2024
The assistive robotics market size is expected to grow from USD 4.1 billion in 2019 to USD 11.2 billion by 2024, growing at a CAGR of 22.3% during the forecast period.
The assistive robotics market is experiencing strong growth, driven by the rising demand for technologies that support individuals with disabilities, elderly care, and rehabilitation needs. As societies face aging populations and a shortage of healthcare workers, assistive robots are becoming essential in providing physical aid, improving mobility, and enhancing quality of life for those who need support in daily tasks. Key trends fueling this market include advancements in AI and machine learning, which enable robots to better understand and adapt to individual user needs, as well as the integration of robotics in smart home environments for added safety and convenience. Additionally, innovations in sensors and mobility technologies are enhancing the capabilities of assistive robots, allowing them to perform complex tasks with higher precision and responsiveness. With ongoing research and increasing awareness of the benefits of assistive robotics, the market is poised for continued growth, offering transformative solutions for personal and healthcare assistance worldwide.
The increasing incidences of strokes and spinal cord injuries are one of the key factors driving the growth of assistive robotics market. The rising insurance coverage for medical exoskeletons and robotic surgeries is another factor driving market growth.
Stationary robots to dominate assistive robotics market during forecast period
Stationary robots are expected to hold the largest market share of the assistive robotics in 2019 and are projected to dominate the market during the forecast period. Stationary assistive robotic systems are those which are fixed in one position. These robotic systems perform their tasks at a fixed location and are used mostly in households and medical applications. Surgical robots, along with robotic manipulators, dynamic arm supports, and meal supports come under the category of stationary assistive robots. The rising demand for surgical robots across the world is expected to drive the market for stationary assistive robots in manufacturing.
Assistive Robotics Market Segmentation
Market for physically assistive robots to grow at highest CAGR during forecast period
Physically assistive robots aid individuals suffering from medical conditions and injuries that limit the upper body or lower body movements. These robots are also used in rehabilitation centers to provide rehabilitation to recovering individuals who had suffered neurological and spinal cord injuries. The increasing cases of spinal cord injuries leading to an increase in the adoption of exoskeleton robots in rehabilitation centers, and by individuals with disabilities is likely to drive the market for physically assistive robots during the forecast period.
Market for handicap assistance application to grow at highest CAGR during 2019–2024
The market for handicap assistance application is expected to grow at the highest CAGR during the forecast period. Assistive robotic systems assist the disabled. With an increase in the number of people suffering from stroke and spinal cord injuries across the world, the application of these robotic systems for handicap assistance is likely to rise at a significant rate. Also, there has been an increase in the acceptance of exoskeletons by people suffering from disabilities for personal use as well as for rehabilitation purposes. This is further expected to propel the market for the handicap assistance application during the forecast period.
Assistive Robotics Industry Regional Analysis
Market in APAC is expected to grow at highest CAGR during forecast period
The assistive robotics market in APAC is expected to grow at the highest CAGR during 2019-2024. The market in APAC is expected to be driven by the shortage of trained care workers, coupled with the rising geriatric population. With the number of elderly on the rise at an unprecedented rate and the lack of caretakers, the market for assistive robots in this region is likely to grow at a significant pace in coming years. Japan is expected to hold the largest market share of the assistive robotics during 2019–2024, while the market in China is expected to grow at the highest CAGR during the forecast period.
Top Assistive Robotics Companies - Key Market Players
Major companies in the assistive robotics market are Kinova Robotics (Canada), Focal Meditech (Netherlands), Cyberdyne (Japan), Intuitive Surgical (US), ReWalk Robotics (Israel), SoftBank Robotics (Japan), Ekso Bionics (US), Ubtech Robotics (China), Barrett Technology (US), Hyundai (South Korea), Stryker (US), Hocoma (Switzerland), Blue Frog Robotics (France), DreamFace Technologies (US), Double Robotics (US), Fourier Intelligence (China), CT Asia Robotics (Thailand), F&P Robotics (Switzerland), Axosuits (Romania), Japet Medical Devices (France), Hanson Robotics (Hong Kong), Motorika (US), and Rex Bionics (New Zealand). Apart from these, Intuition Robotics (Israel) and Mojin Robotics (Germany) are few of the emerging companies in the assistive robotics market.
Kinova Robotics offers a broad range of assistive robotic solutions for critical medical conditions related to spine and muscles. The company has been growing significantly over the past five years. According to the Canadian Business, Kinova Robotics is among the top 25 fastest growing manufacturing companies in Canada. The company plans to expand its business in the coming years by gathering funds from various ventures. For instance, in September 2017, the company raised a funding of USD 25 million backed by investors such as Fonds Manufacturier Québécois S.E.C. II, KTB Network (South Korea), BDC Venture Capital (Canada), and Foxconn (Taiwan) for enhancing its products and expanding its business further.
Assistive Robotics Market Report Scope:
|
Report Metric |
Details |
|
Market size available for years |
2016–2024 |
|
Base year |
2018 |
|
Forecast period |
2019–2024 |
|
Units |
Value (USD) and Volume (Units) |
|
Segments covered |
Mobility, Type, Application, and Region |
|
Geographic regions covered |
North America, APAC, Europe, and RoW |
|
Companies covered |
Kinova Robotics (Canada), Focal Meditech (Netherlands), Cyberdyne (Japan), Intuitive Surgical (US), ReWalk Robotics (Israel), SoftBank Robotics (Japan), Ekso Bionics (US), Ubtech Robotics (China), Barrett Technology (US), Hyundai (South Korea), Stryker (US), Hocoma (Switzerland), Blue Frog Robotics (France), DreamFace Technologies (US), Double Robotics (US), Fourier Intelligence (China), CT Asia Robotics (Thailand), Intuition Robotics (Israel), Mojin Robotics (Germany), F&P Robotics (Switzerland), Axosuits (Romania), Japet Medical Devices (France), Hanson Robotics (Hong Kong), Motorika (US), and Rex Bionics (New Zealand). |
This report categorizes the assistive robotics market based on mobility, type, application, and region.
Assistive Robotics Market, by Mobility:
- Stationary
- Mobile
Market, by Type:
- Physically Assistive Robots
- Socially Assistive Robots
- Mixed Assistive Robots
Assistive Robotics Market, by Application:
- Elderly Assistance
- Companionship
- Handicap Assistance
- Surgery Assistance
- Industrial
- Defense
- Public Relations
- Others (Construction; Space; Agriculture; Education; and Sports and Fitness)
Market, by Region:
-
North America
- US
- Canada
- Mexico
-
Europe
- UK
- Germany
- France
- Italy
- Rest of Europe
-
APAC
- China
- Japan
- South Korea
- Rest of APAC
-
RoW
- Middle East & Africa
- South America
Recent Developments in Assistive Robotics Industry
- In April 2019, Cyberdyne started offering Hybrid Assistive Limb (HAL) lower limb type to A. Zarate General Hospital (Philippines). The introduction of HAL in the Philippines is expected to enhance the company’s geographic footprints in the APAC region.
- In January 2019, Ubtech Robotics launched new versions of Walker and Cruzer, the two humanoid robots, at CES 2019. The latest version of Walker robot comes with enhanced ability to grasp and manipulate objects and improved self-balancing, while the Cruzr robot comes with an improved arm movement and powerful processor.
- In October 2018, Ekso Bionics collaborated with Willmott Dixon (UK), a construction company, to provide EksoVest, an upper-body exoskeleton that supports the arms during lifting. This collaboration is expected to enhance the company’s presence in the United Kingdom.
Key Questions Addressed in the Report
- As new applications and opportunities emerge in sectors such as industrial, defense, and public relations, will the Top 4 vendors continue to dominate or will any new entrants with superior technical knowhow grab their market shares?
- In the value chain analysis of the assistive robotics ecosystem, what are the primary phases, and which phase(s) contributes the maximum value?
- In recent times, there has been an increase in the adoption of robot-assisted surgeries. What are the major advantages and disadvantages of robot-assisted surgeries over manual ones? Also, which are the major governmental bodies regulating these robotic surgical systems in various markets?
- From 2011, the US and Europe have been continually losing market shares to China in attracting annual shipments, will the trend reverse as on-shoring picks up and which native companies are set to benefit the most and how?
- What are the various standards and certifications that the players operating in the assistive robotics market need to comply with?
Frequently Asked Questions (FAQ):
Why there is increasing need of robots for assistive applications? Which type of robot is expected to drive the growth of the assistive robotics market in the next 5 years?
Increasing prevalence of strokes and spinal cord injuries across the world has resulted in an increasing need for robots for assistive applications. Assistive robots are classified into physically assistive robots, socially assistive robots, and mixed assistive robots. Among these, market for physically assistive robots is expected to grow at the highest CAGR during the next 5 years.
Which are the major companies in the assistive roboticsmarket? What are their major strategies to strengthen their market presence?
Kinova Robotics (Canada), Focal Meditech (Netherlands), SoftBank Robotics (Japan), Cyberdyne (Japan), and Intuitive Surgical (US) are the key companies in the assistive robotics market. Product launches and partnerships are the major strategies adopted by these players to strengthen their market presence.
Which region is expected to witness significant demand for various assistive robots in the coming years?
The assistive robotics market has been segmented into 4 major regions across the world, namely, North America, Europe, Asia Pacific, and Rest of the World. Among these regions, market in Asia Pacific is expected to witness highest CAGR in coming years. The growth of the market in Asia Pacific is likely to be propelled by the increasing elderly population and the lack of elderly attendants in the region.
Which are the major assistive applications adopting robots?
The major applications adopting assistive robots are surgery assistance, public relations, handicap assistance, elderly assistance, companionship, industrial, and defense among others.
What are the opportunities for the current players and new entrants in the assistive robotics market to widen their revenue streams?
Increase in funding worldwide for research on assistive robotics is one of the major opportunity for the players in the market. Various governments are taking initiatives for the development of assistive robotics technology. Major market players in the assistive robotics market too are investing heavily in the research of assistive robotics. Also, rise in geriatric population globally is another opportunity that current market players and new entrants can tap on. .
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Table of Contents
1 Introduction (Page No. - 16)
1.1 Study Objectives
1.2 Definition
1.3 Study Scope
1.3.1 Years Considered
1.4 Currency
1.5 Stakeholders
2 Research Methodology (Page No. - 19)
2.1 Research Data
2.1.1 Secondary Data
2.1.1.1 Key Data From Secondary Sources
2.1.2 Primary Data
2.1.2.1 Key Data From Primary Sources
2.1.2.2 Breakdown of Primaries
2.1.3 Secondary and Primary Research
2.1.3.1 Key Industry Insights
2.2 Market Size Estimation
2.2.1 Bottom-Up Approach
2.2.2 Top-Down Approach
2.3 Market Breakdown and Data Triangulation
2.4 Research Assumptions and Limitations
2.4.1 Assumptions
2.4.2 Limitations
3 Executive Summary (Page No. - 28)
4 Premium Insights (Page No. - 31)
4.1 Attractive Market Opportunities in Assistive Robotics Market
4.2 Market, By Type
4.3 Market, By Mobility
4.4 Market in APAC, By Application vs Country
4.5 Market, By Application
4.6 Market, By Country
5 Assistive Robotics Market Overview (Page No. - 34)
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Increasing Prevalence of Strokes and Spinal Cord Injuries
5.2.1.2 Rising Insurance Coverage for Medical Exoskeletons and Robotic Surgeries
5.2.2 Restraints
5.2.2.1 Necessity to Abide Various Standards and Certifications, Especially in Medical Industry
5.2.3 Opportunities
5.2.3.1 Increase in Funding Worldwide for Research on Assistive Robotics
5.2.3.2 Rise in Geriatric Population Globally
5.2.4 Challenges
5.2.4.1 Lack of Social Awareness About Benefits of Adopting Assistive Robotic Systems
5.2.4.2 Risk of Injuries and Accidents Associated With Assistive Robots
5.3 Value Chain Analysis
6 Assistive Robotics Market, By Mobility (Page No. - 40)
6.1 Introduction
6.2 Stationary
6.2.1 Stationary Assistive Robotic Systems are Mostly Used in Household and Medical Applications
6.3 Mobile
6.3.1 Mobile Assistive Robotic Systems are Majorly Used in Applications Such as Elderly Assistance and Companionship
7 Assistive Robotics Market, By Type (Page No. - 46)
7.1 Introduction
7.2 Physically Assistive Robots
7.2.1 Increasing Cases of Spinal Cord Injuries and the Shifting Focus of Governments on Exoskeletons in the Defense Sector is Likely to Drive the Market for Exoskeleton Robots
7.3 Socially Assistive Robots
7.3.1 Rise in the Elderly Population is Expected to Act as A Key Driving Factor for Growth of Market for Companion Robots
7.3.2 Increasing Applications of Artificial Intelligence is Likely to Be Major Driving Factor Impelling Growth of Public Relation Robots
7.4 Mixed Assistive Robots
7.4.1 Elderly Care Robots are Used to Provide Comprehensive and Cost-Effective Support to Elderly
7.4.2 Surgical Robots Account for A Large Share of Assistive Robotics Market Due to Increasing Number of Laparoscopic Surgeries Globally
7.4.2.1 Laparoscopic Robotic Systems
7.4.2.2 Orthopedic Robotic Systems
7.4.2.3 Neurosurgical Robotic Systems
8 Assistive Robotics Market, By Application (Page No. - 56)
8.1 Introduction
8.2 Surgery Assistance
8.2.1 People are Moving Toward Adoption of Robot-Assisted Surgeries Due to Various Advantages They Offer
8.3 Public Relation
8.3.1 Deployment of Assistive Robots for Public Relation Applications is on Rise and is Expected to Garner Significant Market Share in Coming Years
8.4 Handicap Assistance
8.4.1 With Technological Advancements and Evolution of Artificial Intelligence, Deployment of Assistive Robotic Systems in Healthcare Industry has Become Easy
8.5 Elderly Assistance
8.5.1 Demand for Assistive Robots for Elderly Care Application is Likely to Grow at Substantial Rate, Enhancing Opportunity of Mobility and Promoting Independence
8.6 Industrial
8.6.1 Due to Their Numerous Advantages, Various Manufacturing Companies have Started Adopting Assistive Technologies on Large Scale
8.7 Companionship
8.7.1 With People Across World Living Longer, and Most of Them Staying Alone, Assistive Robots Can Be Deployed as Companions to Help Senior Citizens Stay Mentally and Socially Engaged
8.8 Defense
8.8.1 Use of Exoskeletons has Helped Reduce Metabolic Cost and Helped Soldiers Carry Heavy Armors
8.9 Others
9 Geographic Analysis (Page No. - 83)
9.1 Introduction
9.2 North America
9.2.1 US
9.2.1.1 US Held Largest Share Market in North America in 2018
9.2.2 Canada
9.2.2.1 Canada to Record Highest CAGR in Overall Market During Forecast Period
9.2.3 Mexico
9.2.3.1 Mexico to Witness Accelerated Demand for Assistive Robots Due to Rise in Neurological Diseases and Increase in Geriatric Population
9.3 Europe
9.3.1 UK
9.3.1.1 UK Accounted for Largest Share of European Market in 2018
9.3.2 Germany
9.3.2.1 Germany to Witness Growing Demand for Assistive Robots Due to Favorable Reimbursement Policies
9.3.3 France
9.3.3.1 French Market to Adopt Assistive Robotic Systems Primarily for Companionship and Defense Applications
9.3.4 Italy
9.3.4.1 Italy to Witness Highest CAGR in European Market
9.3.5 Rest of Europe (RoE)
9.3.5.1 Increasing Adoption of Physically Assistive Robots to Improve Quality of Life Will Boost Demand in RoE
9.4 Asia Pacific (APAC)
9.4.1 Japan
9.4.1.1 Japan Held Largest Share of Market in APAC in 2018
9.4.2 China
9.4.2.1 Market in China to Grow at Highest CAGR in APAC During Forecast Period
9.4.3 South Korea
9.4.3.1 Financial Support of South Korean Government to Develop Surgical Robots Likely to Propel Market Growth
9.4.4 Rest of APAC
9.4.4.1 Rise in Adoption of Robots in Healthcare Industry to Fuel Growth of Market in RoAPAC
9.5 Rest of the World
9.5.1 Middle East and Africa
9.5.1.1 Middle East and Africa Held Larger Share of Market in RoW
9.5.2 South America
9.5.2.1 South America to Witness Higher CAGR in Market During Forecast Period
10 Competitive Landscape (Page No. - 98)
10.1 Overview
10.2 Market Ranking Analysis: Assistive Robotics Market, 2018
10.3 Competitive Leadership Mapping
10.3.1 Visionary Leaders
10.3.2 Dynamic Differentiators
10.3.3 Innovators
10.3.4 Emerging Companies
10.4 Strength of Product Portfolio (25 Players)
10.5 Business Strategy Excellence (25 Players)
10.6 Competitive Situations and Trends
10.6.1 Product Launches
10.6.2 Partnerships, Collaborations and Joint Ventures
10.6.3 Expansions
10.6.4 Contracts and Agreements
11 Company Profiles (Page No. - 108)
(Business Overview, Products Offered, Recent Developments, SWOT Analysis, and MnM View)*
11.1 Key Players
11.1.1 Kinova Robotics
11.1.2 Focal Meditech
11.1.3 Softbank Robotics
11.1.4 Cyberdyne
11.1.5 Intuitive Surgical
11.1.6 EKSO Bionics
11.1.7 Ubtech Robotics
11.1.8 Barrett Technology
11.1.9 Rewalk Robotics
11.1.10 Hyundai
11.2 Other Players
11.2.1 Stryker Corporation
11.2.2 Hocoma
11.2.3 Blue Frog Robotics
11.2.4 Dreamface Technologies
11.2.5 Double Robotics
11.2.6 Fourier Intelligence
11.2.7 CT Asia Robotics
11.2.8 Intuition Robotics
11.2.9 Mojin Robotics
11.2.10 F&P Robotics
*Details on Business Overview, Products Offered, Recent Developments, SWOT Analysis, and MnM View Might Not Be Captured in Case of Unlisted Companies.
12 Appendix (Page No. - 138)
12.1 Discussion Guide
12.2 Available Customizations
12.3 Related Reports
12.4 Author Details
List of Tables (68 Tables)
Table 1 Assistive Robotics Market, By Mobility, 2016–2024 (USD Billion)
Table 2 Assistive Robotic Market, By Mobility, 2016–2024 (Thousand Units)
Table 3 Market for Stationary Robots, By Type, 2016–2024 (USD Million)
Table 4 Market for Stationary Robots, By Type, 2016–2024 (Thousand Units)
Table 5 Market for Mobile Robots, By Type, 2016–2024 (USD Million)
Table 6 Market for Mobile Robots, By Type, 2016–2024 (Thousand Units)
Table 7 Market, By Type, 2016–2024 (USD Million)
Table 8 Assistive Robotics Market, By Type, 2016–2024 (Thousand Units)
Table 9 Physically Assistive Robotic Market, By Application, 2016–2024 (USD Million)
Table 10 Market, By Type, 2016–2024 (USD Million)
Table 11 Market, By Type, 2016–2024 (Thousand Units)
Table 12 Socially Assistive Robotics Market, By Application, 2016–2024 (USD Million)
Table 13 Mixed Assistive Robotic Market, By Type, 2016–2024 (USD Million)
Table 14 Market, By Type, 2016–2024 (Thousand Units)
Table 15 Market, By Application, 2016–2024 (USD Million)
Table 16 Assistive Robotics Market for Surgical Robots, By Type, 2016–2024 (USD Million)
Table 17 Assistive Robotic Market for Surgical Robots, By Type, 2016–2024 (Units)
Table 18 Market, By Application, 2016–2024 (USD Million)
Table 19 Market for Surgery Assistance Application, By Region, 2016–2024 (USD Million)
Table 20 Market for Surgery Assistance Application in North America, By Country, 2016–2024 (USD Million)
Table 21 Market for Surgery Assistance Application in Europe, By Country, 2016–2024 (USD Million)
Table 22 Market for Surgery Assistance Application in APAC, By Country, 2016–2024 (USD Million)
Table 23 Market for Surgery Assistance Application in RoW, By Region, 2016–2024 (USD Million)
Table 24 Market for Public Relations Application, By Region, 2016–2024 (USD Million)
Table 25 Assistive Robotics Market for Public Relations Application in North America, By Country, 2016–2024 (USD Million)
Table 26 Assistive Robotic Market for Public Relations Application in Europe, By Country, 2016–2024 (USD Million)
Table 27 Market for Public Relations Application in APAC, By Country, 2016–2024 (USD Million)
Table 28 Market for Public Relations Application in RoW, By Region, 2016–2024 (USD Million)
Table 29 Market for Handicap Assistance Application, By Region, 2016–2024 (USD Million)
Table 30 Market for Handicap Assistance Application in North America, By Country, 2016–2024 (USD Million)
Table 31 Market for Handicap Assistance Application in Europe, By Country, 2016–2024 (USD Million)
Table 32 Market for Handicap Assistance Application in APAC, By Country, 2016–2024 (USD Million)
Table 33 Market for Handicap Assistance Application in RoW, By Region, 2016–2024 (USD Thousand)
Table 34 Market for Elderly Assistance Application, By Region, 2016–2024 (USD Million)
Table 35 Market for Elderly Assistance Application in North America, By Country, 2016–2024 (USD Million)
Table 36 Market for Elderly Assistance Application in Europe, By Country, 2016–2024 (USD Million)
Table 37 Market for Elderly Assistance Application in APAC, By Country, 2016–2024 (USD Million)
Table 38 Market for Elderly Assistance Application in RoW, By Region, 2016–2024 (USD Million)
Table 39 Market for Industrial Application, By Region, 2016–2024 (USD Million)
Table 40 Market for Industrial Application in North America, By Country, 2016–2024 (USD Million)
Table 41 Market for Industrial Application in Europe, By Country, 2016–2024 (USD Thousand)
Table 42 Market for Industrial Application in APAC, By Country, 2016–2024 (USD Million)
Table 43 Market for Industrial Application in RoW, By Region, 2016–2024 (USD Thousands)
Table 44 Market for Companionship Application, By Region, 2016–2024 (USD Million)
Table 45 Market for Companionship Application in North America, By Country, 2016–2024 (USD Million)
Table 46 Market for Companionship Application in Europe, By Country, 2016–2024 (USD Million)
Table 47 Market for Companionship Application in APAC, By Country, 2016–2024 (USD Million)
Table 48 Assistive Robotics Market for Companionship Application in RoW, By Region, 2016–2024 (USD Million)
Table 49 Assistive Robotic Market for Defense Application, By Region, 2016–2024 (USD Million)
Table 50 Market for Defense Application in North America, By Country, 2016–2024 (USD Million)
Table 51 Market for Defense Application in Europe, By Country, 2016–2024 (USD Thousand)
Table 52 Market for Defense Application in APAC, By Country, 2016–2024 (USD Thousand)
Table 53 Market for Defense Application in RoW, By Region, 2016–2024 (USD Thousand)
Table 54 Market for Other Applications, By Region, 2016–2024 (USD Thousand)
Table 55 Market for Other Applications in North America, By Country, 2016–2024 (USD Thousand)
Table 56 Assistive Robotics Market for Other Applications in Europe, By Country, 2016–2024 (USD Thousand)
Table 57 Assistive Robotic Market for Other Applications in APAC, By Country, 2016–2024 (USD Thousand)
Table 58 Market for Other Applications in RoW, By Region, 2016–2024 (USD Thousand)
Table 59 Market, By Region, 2016–2024 (USD Million)
Table 60 Market in North America, By Country, 2016–2024 (USD Million)
Table 61 Market in Europe, By Country, 2016–2024 (USD Million)
Table 62 Market in APAC, By Country, 2016–2024 (USD Million)
Table 63 Market in RoW, By Region, 2016–2024 (USD Million)
Table 64 Market Ranking, 2018
Table 65 Product Launches, 2018
Table 66 Partnerships and Collaborations, 2018
Table 67 Expansions,2018
Table 68 Contracts and Agreements, 2016–2018
List of Figures (40 Figures)
Figure 1 Segmentation of Assistive Robotics Market
Figure 2 Assistive Robotics Market: Research Design
Figure 3 Market: Bottom-Up Approach
Figure 4 Assistive Robotic Market: Top-Down Approach
Figure 5 Data Triangulation
Figure 6 Market for Mobile Assistive Robots to Grow at A Higher CAGR During Forecast Period
Figure 7 in Terms of Value, Mixed Assistive Robots to Hold Largest Share of Market By 2024
Figure 8 Handicap Assistance Application to Exhibit Highest CAGR in Market During Forecast Period
Figure 9 North America to Hold Largest Share of Market By 2019
Figure 10 Increasing Insurance Coverage for Medical Exoskeletons and Robotic Surgeries to Drive Growth Market During Forecast Period
Figure 11 Market for Physically Assistive Robots to Grow at Highest CAGR During Forecast Period
Figure 12 in Terms of Volume, Mobile Robots to Hold Larger Share of Market By 2019
Figure 13 Surgery Assistance Application to Hold Largest Share of Market in APAC By 2019
Figure 14 Surgery Assistance Application to Hold Largest Share of Market By 2019
Figure 15 US to Hold Largest Share of Market By 2019
Figure 16 Market: Drivers, Restraints, Opportunities, and Challenges
Figure 17 World Population Above 60 Years By 2050
Figure 18 Value Chain Analysis of Assistive Robotic Ecosystem: R&D and Manufacturing Phases Contribute Maximum Value
Figure 19 Market, in Terms of Value, for Mobile Robots to Grow at Higher CAGR During Forecast Period
Figure 20 Market for Physically Assistive Robots, in Terms of Value, to Grow at Highest CAGR During Forecast Period
Figure 21 Surgical Robots Expected to Dominate Mixed Assistive Robots Market During Forecast Period
Figure 22 Market for Handicap Assistance Application to Grow at Highest CAGR During Forecast Period
Figure 23 Market for Public Relations Application in APAC to Grow at Highest CAGR During Forecast Period
Figure 24 Market for Elderly Assistance Application in APAC to Grow at Highest CAGR During Forecast Period
Figure 25 Market for Companionship Application in APAC to Grow at Highest CAGR During Forecast Period
Figure 26 Assistive Robotics Market for Other Applications in APAC to Grow at Highest CAGR During Forecast Period
Figure 27 Canada to Register Highest CAGR in Global Assistive Robotics Market During Forecast Period
Figure 28 APAC to Witness Highest CAGR in Assistive Robotic Market During Forecast Period
Figure 29 Snapshot of Market in North America
Figure 30 Snapshot of Assistive Robotic Market in Europe
Figure 31 Snapshot of Market in APAC
Figure 32 Market in South America to Grow at Higher CAGR During Forecast Period
Figure 33 Players in Assistive Robotic Market Adopted Product Launches as Their Key Strategy for Business Expansion From 2016 to 2018
Figure 34 Assistive Robotics Market (Global) Competitive Leadership Mapping, 2018
Figure 35 Market Witnessed Significant Growth From 2016 to 2018
Figure 36 Cyberdyne: Company Snapshot
Figure 37 Intuitive Surgical: Company Snapshot
Figure 38 EKSO Bionics: Company Snapshot
Figure 39 Rewalk Robotics: Company Snapshot
Figure 40 Hyundai: Company Snapshot
The study involved four major activities in estimating the current size of the assistive robotics market. Exhaustive secondary research has been done to collect information about the market, the peer market, and the parent market. Validating findings, assumptions, and sizing with industry experts across the value chain through primary research has been the next step. Both top-down and bottom-up approaches have been employed to estimate the complete market size. After that, market breakdown and data triangulation methods have been used to estimate the market size of segments and subsegments.
Secondary Research
The research methodology used to estimate and forecast the assistive robotics market begins with capturing data on revenues of the key vendors in the market through secondary research. This study incorporates the use of extensive secondary sources, directories, and databases such as Hoovers, Bloomberg Businessweek, Factiva, and OneSource to identify and collect information useful for the technical, market-oriented, and commercial study of market. Vendor offerings have also been considered to determine the market segmentation. This entire research methodology includes the study of annual and financial reports of top players, presentations, press releases, journals, paid databases, trade directories, regulatory bodies, and safety standard organizations.
Primary Research
The assistive robotics market comprises several stakeholders, such as suppliers, system integrators, suppliers of standard components, software providers, and original equipment manufacturers (OEMs) in the supply chain. Several primary interviews have been conducted with market experts from both demand (commercial application providers) and supply (equipment manufacturers and distributors) sides across four major regions: North America, Europe, APAC, and RoW to gather both qualitative and quantitative information. Following is the breakdown of primary respondents.
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Market Size Estimation
Both top-down and bottom-up approaches have been used to estimate and validate the overall size of the assistive robotics market. These methods have also been used extensively to estimate the size of various market subsegments. The research methodology used to estimate the market size includes the following:
- Key players in major applications and markets have been identified through extensive secondary research.
- The industry’s supply chain and market size, in terms of value and volume, have been determined through primary and secondary research processes.
- All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.
Data Triangulation
After arriving at the overall market size using the estimation processes as explained above, the market was split into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics of each market segment and subsegment, data triangulation, and market breakdown procedures have been employed, wherever applicable. The data has been triangulated by studying various factors and trends from both the demand and supply sides.
Report Objectives
- To describe and forecast the assistive robotics market, in terms of value, segmented based on mobility, type, application, and region
- To describe and forecast market, in terms of volume, segmented based on mobility and type
- To describe and forecast the market size, in terms of value, for various applications with regard to four main regions: North America, Europe, Asia Pacific (APAC), and RoW
- To provide detailed information regarding drivers, restraints, opportunities, and challenges influencing the growth of the market
- To provide a comprehensive overview of the value chain pertaining to the assistive robotics ecosystem
- To strategically analyze micro markets with respect to individual growth trends, prospects, and contribution to the total market
- To analyze opportunities in the market for various stakeholders by identifying high-growth segments of market
- To benchmark players within the market using proprietary "Competitive Leadership Mapping" framework, which analyzes market players on various parameters within the broad categories of business and product strategy
- To strategically profile key players and comprehensively analyze their market position in terms of ranking and core competencies, along with detailing the competitive landscape for market leaders
- To analyze competitive developments such as acquisitions, product launches, and research and developments in the assistive robotics market
Available Customizations
With the given market data, MarketsandMarkets offers customizations according to the company’s specific needs. The following customization options are available for the report:
Product Analysis
- Product matrix that gives a detailed comparison of the product portfolio of each company
Company Information
- Detailed analysis and profiling of additional market players (up to 5).
Growth opportunities and latent adjacency in Assistive Robotics Market