The global robotics wheelchairs market was valued at USD 80 million in 2019, expanding at a CAGR of 10% during the forecast period, 2021 – 2028. The growth of the market is attributed to the increasing number of elderly population and physically disabled people across the globe.
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Manual wheelchairs bring about dependency on others for daily needs and regular actions. This dependency can be eliminated with help of robot wheelchairs, as these wheelchairs can be controlled with the help of joysticks and do not require another other’s assistance. Robotic wheelchairs can be transformed right into a mattress and can be controlled with the help of the Internet of Things (IoT).
Robotic wheelchairs have increased the capability of wheelchairs. Integration of latest technologies such as IoT and inclusion of smart sensors and navigational mapping have made robotic wheelchairs a self-sustained solution. The addition of voice command to manipulate the mobility of robot wheelchairs is an upcoming innovation of the market. Voice control could be very useful.
The Research Institute for Central Mechanical Engineering under the Council of Scientific and Industrial Research developed an autonomous intelligent robotic wheelchair that has motorized automatic braking, autonomous path planning, obstacle detection capability, floor level detection, and a small turning radius for mobility.
Market Trends, Drivers, Restraints, and Opportunities:
Increasing innovation and rising investment investments in the development of advanced robotic wheelchairs, which can augment their capability and flexibility are propelling the market growth. Rising numbers of accidents can be a driver for the market growth. Increasing disposable income is one of the major drivers of the growth of the market. High cost of robotics wheelchairs can restrain the market growth. The COVID-19 had disrupted the manufacturing industry. This, in turn, had negatively impacted the supply chain, which had impeded the market growth. However, the market is expected to recover soon. The wide range of options available for next-generation robotic wheelchair products is expected to boost the sales, boosting the market growth.
Robotic Wheelchairs Market Segment Insights
Commercial Segment anticipated to grow at a rapid rate
Based on applications, the market is segmented into the residential and commercials. The residential segment dominated the market with a market share of around 80% in 2020. However, the commercial segment is anticipated to expand at a rapid pace during the forecast period. This is due to the increasing adoption of robotic wheelchairs at airports, hospitals, tourist places, and social service homes.
Retail Segment to exhibit a high CAGR
In terms of distribution channels, the robotic wheelchairs market is segregated into retail and e-commerce. The retail segment dominated the robotics wheelchair market owing to the presence of sales associates in the retail store, which eases buying decisions for the consumer. On the other hand, the e-commerce segment is anticipated to exhibit a high CAGR owing to the increasing penetration of smartphones and Internet, which is spurring the growth of the e-commerce segment.
North America to account a large market share
On the basis of regions, the market is categorized as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America dominated the market with a share of more than 30% in 2020. This is attributed to the rising geriatric population and early adoption of latest technologies. The market in the Asia Pacific is anticipated to expand at a CAGR of 10% during the forecast period. Increasing investment in the R&D activities to develop robotic wheelchair targeting consumers in emerging economies such as India and China is expected to propel the market growth in the region.
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Synopsis:The scope of the global Robotic Wheelchairs Market was priced by US$ 75.8 million in 2018.
It is likely to record a CAGR of 9.4% during 2019 to 2025 and is projected to touch a value of US$ 142.6 million by the completion of 2025.
These wheelchairs are furnished with assistive equipment, controllers and sensors to accomplish movement.Drivers:Increasing cases of momentary and perpetual movement disability, increasing elderly people, and overweight persons who are unable to take part in doings that needs even movement are motivating the demand for robotic wheelchairs.
It has been witnessed that on an average persons in the nation states like Spain, Italy, Singapore, Australia and Japan pass more than six years of their life time having incapacities that have an allotted span of more or less 70 years.
The use of manually driven wheelchairs for everyday purposes and normal activities outcomes in dependency on others.Request Sample Copy of This Market Research @ https://www.millioninsights.com/industry-reports/robotic-wheelchairs-market/request-sampleThis is inspiring the companies to present robotic wheelchairs those are flexible to be transformed into a bed, do not necessitate help from others, and can be organized by means of the assistance of Wi-Fi or mobile applications.
These aspects will motivate the development of the robotic wheelchair market for the duration of the forecast.Classification:The global robotic wheelchairs industry can be classified by Sales Network, Application Type of Product and Region.
The scope of the global Robotic Wheelchairs Market was priced by US$ 75.8 million in 2018.
It is likely to record a CAGR of 9.4% during 2019 to 2025 and is projected to touch a value of US$ 142.6 million by the completion of 2025.
These are the better-quality types of physical driven wheelchairs.
These wheelchairs are furnished with assistive equipment, controllers and sensors to accomplish movement.
Request free sample to get a complete analysis of top-performing companies @ https://www.millioninsights.com/industry-reports/robotic-wheelchairs-market/request-sample Key Players:Whill Inc., UPnRIDE Robotics Ltd., Otto bock SE & Company, Meyra GmbH, Invacare Corporation, DEKA Research & Development, Matia Robotics Growth Drivers: Increasing cases of momentary and perpetual movement disability, increasing elderly people, and overweight persons who are unable to take part in doings that needs even movement are motivating the demand for robotic wheelchairs.
The increasing populace of physically immobilized persons will be one of the principal motivator for the development of the global robotic wheelchairs industry.
The report provides a detailed and extensive analysis on global Robotic Wheelchairs Market by Fast.MR Market Research , that can be used to obtain a thorough understanding of the Robotic Wheelchairs Industry, including the latest developments in the studied market .The report mainly studies the market size of Robotic Wheelchairs Products/Services, recent trends and status of growth, as well as investment opportunities, market dynamics (such as growth drivers, restraints), and industry news updates (such as mergers, acquisitions, and investments).The efficiency of the product/service will be further optimized by technical advancement and development, making it more broadly used in downstream applications.Our research analysts have carefully examined both the positive and negative factors affecting the Robotic Wheelchairs Market.
The current pandemic situation of COVID-19 has adversely affected the market, our analysts have covered- up all possible impacts of it that is going to affect the Robotic Wheelchairs Market during post COVID-19 period.
Important segments have been developed and analyzed to facilitate sound business decisions.
This section reveals high-growth market segments and understands how the market will expand over the forecast period.Regional Analysis:-North America (U.S. & Canada).-Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Rest of Europe).-Asia Pacific (China, India, Japan, South Korea, Indonesia, Taiwan, Australia, New Zealand, and Rest of Asia Pacific).-Latin America (Brazil, Mexico, and Rest of Latin America).-Middle East & Africa (GCC, North Africa, South Africa, and Rest of Middle East & Africa).Aim of the study:The study provides a detailed competitive landscape along with comprehensive analysis of product line, product innovation, technological development, business models, market share and size of global Robotic Wheelchairs Market.
The report covers a study of recent industry trends, including product releases, mergers, acquisitions, alliances, joint ventures and collaborations.
The study provides a futuristic understanding of business scenario for the 2020-2025 forecast period.Leading players of Robotic Wheelchairs Market are as follows:The market research report provides analysis of major & niche key market players in global Robotic Wheelchairs Market based on their sales & revenue, market served, products, regional growth, and other factors.
