New Robotic Wheelchairs Market Research Report by Technavio Predicts Almost $240 Million Growth During 2020-2024 | Technavio

Technavio has announced its latest market research report titled Global Robotic Wheelchairs Market 2020-2024 (Graphic: Business Wire)

LONDON--()--The new robotic wheelchairs market research from Technavio indicates neutral growth in the short term as the business impact of COVID-19 spreads.

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"One of the primary growth drivers for this market is the increasing population of physically disabled people,” says a senior analyst for the industrials industry at Technavio. Vendors should focus on growth prospects in the fast-growing segments while maintaining their positions in the slow-growing segments. As the markets recover, Technavio expects the robotic wheelchairs market size to grow by USD 240.36 million during the period 2020-2024.

Robotic Wheelchairs Market Segment Highlights for 2020

  • The robotic wheelchairs market is expected to post a year-over-year growth rate of 4.92%.
  • Based on the end-user, the residential segment led the market in 2019.
  • The market growth in the segment will be significant over the forecast period.

Regional Analysis

  • 36% of the growth will originate from the Europe region.
  • The market growth in Europe is driven by the increased flexibility of robotic wheelchairs.
  • Germany is one of the key markets for robotic wheelchairs in Europe.

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Notes:

  • The robotic wheelchair market size is expected to accelerate at a CAGR of over 16% during the forecast period.
  • The robotic wheelchairs market is segmented by end-user (Residential and Commercial) and geography (North America, Europe, APAC, MEA, and South America).
  • The market is concentrated due to the presence of a few established vendors holding significant market share.
  • The research report offers information on several market vendors, including DEKA Research and Development Corp., Honda Motor Co. Ltd., Matia Robotics, Merits Health Products Co. Ltd., MEYRA, Ottobock SE & Co. KGaA, Ramp USA Inc., Sunrise Medical LLC, UPnRIDE Robotics Ltd., and WHILL Inc.

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Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

Release Summary

The Robotic Wheelchairs Market will grow by $ 240.36 mn during 2020-2024

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/