Assistive Robotics Market Report 2021: Technology, Application, Types, End-User, Geography, Competitive Analysis and the Impact of Covid-19 with Analysis 2021-2030

In a recently published report, Assistive Robotics report for till 2030. The report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to regain 25% by the end of 2021- Positive Growth in the economic demand and supply.

U S Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mention the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Assistive Robotics products.

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Moreover, increase in ICT spending around the globe for hardware, software, services, new technologies and telecom among others is also anticipated to contribute to the growth of the market in the coming years. The spending on new technologies recorded around USD 0.6 million in 2018 and is further estimated to reach close to USD 1.3 million by 2023. The total ICT spending around the globe further recorded close to USD 5 million in 2019 and is further.

Global Assistive Robotics Market is valued approximately at USD 4.10 Billion in 2019 and is anticipated to grow with a healthy growth rate of more than 22.30% over the forecast period 2020-2027. A robot is a mechanical and digital smart agent that uses to perform the specific project robotically as consistent with the programming of an agent or via faraway manipulation. An assistive robot uses for appearing a venture for persons with a disability, the older human beings, babies and for business purposes. Incapacity folks can control the functioning of the assistive robots with the help of a far off. An assistive robotic is having sensors and clever algorithms to talk with individuals, to navigate autonomously and to come to a decision independently.

The global pandemic of COVID-19 has adverse effect on robotics market due to the slowdown in manufacturing of robots and insufficient supply of essential raw materials. As many governments across major economies such as United States, China, India, and Germany etc. affected by coronavirus announced lockdown to preserve spread of virus. Whereas, the rise in prevalence of geriatric population and essential component of assistive robotics in assisting older populations is driving the growth of market over the forecast years. For instance: According to World Health Organization, the number of people aged 65 or older is projected to grow from an estimated 524 million in 2010 to nearly 1.6 billion in 2050. Additionally, rising insurance coverage for medical exoskeletons and robotic surgeries is the factor propelling the growth of market over the forecast years. However, necessity to abide various standards and certifications, especially in medical industry is hampering the growth of market over the forecast years.

The regional analysis of global Assistive Robotics Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the rising insurance coverage for medical exoskeletons and robotic surgeries. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027. Factors such as rise in growth of geriatric population would create lucrative growth prospects for the Assistive Robotics Market across Asia-Pacific region.

Major market player included in this report are:
Kinova Robotics
Focal Meditech
Softbank Robotics
Intuitive Surgical
EKSO Bionics
Ubtech Robotics
Barrett Technology
Rewalk Robotics

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and Mobility offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Mobility:

By Type:
Physically Assistive Robots
Socially Assistive Robots
Mixed Assistive Robots

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By Application:
Surgery Assistance
Handicap Assistance
Elderly Assistance
Public Relation

By Region:
North America

Asia Pacific
South Korea
Latin America
Rest of the World

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