LONDON--(BUSINESS WIRE)--The new robotic wheelchairs market research from Technavio indicates neutral growth in the short term as the business impact of COVID-19 spreads.
Get detailed insights on the COVID-19 pandemic crisis and recovery analysis of the robotic wheelchairs market.
"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.
- 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.
Click here to learn about report detailed analysis and insights on how you can leverage them to grow your business.
Related Reports on Industrials Include:
Global Robotic Simulator Market- The robotic simulator market is segmented by deployment (on-premises and cloud-based) and geography (APAC, Europe, North America, MEA, and South America). Click Here to Get an Exclusive Free Sample Report
Global Robotic Weeding Machines Market- The robotic weeding machines market is segmented by product (hardware, software, and service) and geography (APAC, Europe, MEA, North America, and South America). Click Here to Get an Exclusive Free Sample Report
- 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.
Register for a free trial today to access 17,000+ market research reports using Technavio's SUBSCRIPTION platform
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.