Assistive Robotics Market

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, at a CAGR of 22.3% during the forecast period. 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.

Assistive Robotics Market

Stationary robots to dominate assistive robotics market during forecast period

Stationary robots are expected to hold the largest share of the assistive robotics market 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.

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 Market

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 market during 2019–2024, while the market in China is expected to grow at the highest CAGR during the forecast period.

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 Quιbιcois S.E.C. II, KTB Network (South Korea), BDC Venture Capital (Canada), and Foxconn (Taiwan) for enhancing its products and expanding its business further.

Scope of the Report:

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

Assistive Robotics 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)

Assistive Robotics 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 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

  1. 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?
  2. In the value chain analysis of the assistive robotics ecosystem, what are the primary phases, and which phase(s) contributes the maximum value?
  3. 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?
  4. 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?
  5. What are the various standards and certifications that the players operating in the assistive robotics market need to comply with?

To speak to our analyst for a discussion on the above findings, click Speak to Analyst

Table of Contents

1 Introduction (Page No. - 15)
    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. - 18)
    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
    2.2 Secondary and Primary Research
           2.2.1 Key Industry Insights
    2.3 Market Size Estimation
           2.3.1 Bottom-Up Approach
           2.3.2 Top-Down Approach
    2.4 Market Breakdown and Data Triangulation
    2.5 Research Assumptions and Limitations
           2.5.1 Assumptions
           2.5.2 Limitations

3 Executive Summary (Page No. - 28)

4 Premium Insights (Page No. - 32)
    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 By Country
    4.5 Market, By Application
    4.6 Market, By Country

5 Market Overview (Page No. - 36)
    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. - 43)
    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. - 48)
    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. - 60)
    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. - 86)
    9.1 Introduction
    9.2 North America
           9.2.1 US
                    9.2.1.1 US Held Largest Share of 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 Assistive Robotics 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 Assistive Robotics 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. - 101)
     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
             10.3.5 Strength of Product Portfolio (25 Players)
             10.3.6 Business Strategy Excellence (25 Players)
     10.4 Competitive Situations and Trends
             10.4.1 Product Launches
             10.4.2 Partnerships, Collaborations and Joint Ventures
             10.4.3 Expansions
             10.4.4 Contracts and Agreements

11 Company Profiles (Page No. - 110)
     11.1 Key Players
             11.1.1 Kinova Robotics
                        11.1.1.1 Business Overview
                        11.1.1.2 Products Offered
                        11.1.1.3 Recent Developments
                        11.1.1.4 SWOT Analysis
                        11.1.1.5 MnM View
             11.1.2 Focal Meditech
                        11.1.2.1 Business Overview
                        11.1.2.2 Products Offered
                        11.1.2.3 Recent Developments
                        11.1.2.4 SWOT Analysis
                        11.1.2.5 MnM View
             11.1.3 SoftBank Robotics
                        11.1.3.1 Business Overview
                        11.1.3.2 Products Offered
                        11.1.3.3 Recent Developments
                        11.1.3.4 MnM View
             11.1.4 Cyberdyne
                        11.1.4.1 Business Overview
                        11.1.4.2 Products Offered
                        11.1.4.3 Recent Developments
                        11.1.4.4 SWOT Analysis
                        11.1.4.5 MnM View
             11.1.5 Intuitive Surgical
                        11.1.5.1 Business Overview
                        11.1.5.2 Products Offered
                        11.1.5.3 Recent Developments
                        11.1.5.4 SWOT Analysis
                        11.1.5.5 MnM View
             11.1.6 Ekso Bionics
                        11.1.6.1 Business Overview
                        11.1.6.2 Products Offered
                        11.1.6.3 Recent Developments
                        11.1.6.4 MnM View
             11.1.7 Ubtech Robotics
                        11.1.7.1 Business Overview
                        11.1.7.2 Products Offered
                        11.1.7.3 Recent Developments
                        11.1.7.4 MnM View
             11.1.8 Barrett Technology
                        11.1.8.1 Business Overview
                        11.1.8.2 Products Offered
                        11.1.8.3 Recent Developments
                        11.1.8.4 MnM View
             11.1.9 Rewalk Robotics
                        11.1.9.1 Business Overview
                        11.1.9.2 Products Offered
                        11.1.9.3 Recent Developments
                        11.1.9.4 SWOT Analysis
                        11.1.9.5 MnM View
             11.1.10 Hyundai
                        11.1.10.1 Business Overview
                        11.1.10.2 Products Offered
                        11.1.10.3 Recent Developments
                        11.1.10.4 MnM View
     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

12 Appendix (Page No. - 134)
     12.1 Discussion Guide
     12.2 Knowledge Store: Marketsandmarkets’ Subscription Portal
     12.3 Available Customizations
     12.4 Related Reports
     12.5 Author Details


List of Tables (68 Tables)

Table 1 Assistive Robotics Market, By Mobility, 2016–2024 (USD Million)
Table 2 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 Robotics, By Application, 2016–2024 (USD Million)
Table 10 Socially Assistive Robotics, By Type, 2016–2024 (USD Million)
Table 11 Socially Assistive Robotics, By Type, 2016–2024 (Thousand Units)
Table 12 Socially Assistive Robotics, By Application, 2016–2024 (USD Million)
Table 13 Mixed Assistive Robotics, By Type, 2016–2024 (USD Million)
Table 14 Mixed Assistive Robotics, By Type, 2016–2024 (Thousand Units)
Table 15 Mixed Assistive Robotics, By Application, 2016–2024 (USD Million)
Table 16 Market for Surgical Robots, By Type, 2016–2024 (USD Million)
Table 17 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 Market for Public Relations Application in North America, By Country, 2016–2024 (USD Million)
Table 26 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 Market for Companionship Application in RoW, By Region, 2016–2024 (USD Million)
Table 49 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 Assistive Robotics for Defense Application in Europe, By Country, 2016–2024 (USD Thousand)
Table 52 Assistive Robotics for Defense Application in APAC, By Country, 2016–2024 (USD Thousand)
Table 53 Assistive Robotics for Defense Application in RoW, By Region, 2016–2024 (USD Thousand)
Table 54 Assistive Robotics for Other Applications, By Region, 2016–2024 (USD Thousand)
Table 55 Assistive Robotics for Other Applications in North America, By Country, 2016–2024 (USD Thousand)
Table 56 Assistive Robotics for Other Applications in Europe, By Country, 2016–2024 (USD Thousand)
Table 57 Assistive Robotics for Other Applications in APAC, By Country, 2016–2024 (USD Thousand)
Table 58 Assistive Robotics for Other Applications in RoW, By Region, 2016–2024 (USD Thousand)
Table 59 Assistive Robotics, 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 Assistive Robotics Market Ranking, 2018
Table 65 Product Launches, 2016–2018
Table 66 Partnerships and Collaborations, 2016–2018
Table 67 Expansions, 2016–2018
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 Assistive Robotics Market: Bottom-Up Approach
Figure 4 Assistive Robotics 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 of 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 in 2019
Figure 14 Surgery Assistance Application to Hold Largest Share of Market in 2019
Figure 15 US to Hold Largest Share of Assistive Robotics 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 Assistive Robotics, 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 Market for Other Applications in APAC to Grow at Highest CAGR During Forecast Period
Figure 27 Canada to Register Highest CAGR in Global Market During Forecast Period
Figure 28 APAC to Witness Highest CAGR in Market During Forecast Period
Figure 29 Snapshot of Assistive Robotics Market in North America
Figure 30 Snapshot of Assistive Robotics Market in Europe
Figure 31 Snapshot of Assistive Robotics Market in APAC
Figure 32 Market in South America to Grow at Higher CAGR During Forecast Period
Figure 33 Players in Assistive Robotics 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 Assistive Robotics 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 the assistive robotics 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.

Assistive Robotics Market

To know about the assumptions considered for the study, download the pdf brochure

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 the assistive robotics 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 the assistive robotics 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).
Report Code
SE 7298
Published ON
Aug, 2019
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