Robotic wheelchairs market is expected to register a robust growth in the near future and reach of US$ 6,073.9 mn by 2026. Robotic wheelchairs are an advanced version of conventionally used electric wheelchairs, also known as power wheelchairs. The robotic wheelchairs are laden with artificial intelligence and sensors. These chairs can automatically detect obstacles in path, navigate accordingly, and enhance the user experience multifold by allowing them to experience life without having to worry about the burden of the chair.
The robotic wheelchair market is expected to register robust growth as artificial intelligence has already made forays through automatic driving capabilities and inspires confidence in consumers today. Additionally, growing big data analytics provide users an edge that is simply too difficult to obtain on their own. For example, Google recently introduced a receptionist AI which can have conversations in real time and book appointments, hotel reservations on behalf of people easily. This technology promises to save considerable amount of time, money, and provides additional mobility, much appreciated by handy-capped individuals.
Robotic Wheelchairs Market: Aging Population May Taste a Sweet Victory
Major markets like North America and Europe are witnessing a significant rise in the elderly population. The elderly population is prone to suffering from limited mobility for various reasons. Growing cases of knee injuries, strokes, paralysis, and obesity are expected to increase these mobility related ailments in the near future. Additionally, countries like the US are witnessing a growing favorable push towards fair and balanced reimbursement mechanisms.
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The robotic wheelchairs market products make a strong case for several individuals with limited mobility. Without the automated support, these individuals can require manual support, which is both expensive and can reduce the quality of their lives. Hence, rising aging population coupled with other factors such as rising disposable incomes, various advancements in automation are expected to create several opportunities for growth in the robotic wheelchairs market.
On the other hand, high costs of the robotic wheelchairs are expected to limit growth of the robotic wheelchairs market. Despite the favorable reimbursement policies, high costs continue to pose a problem for the growth of the robotic wheelchairs market.
In terms of geography, the report classifies the market into North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and South America. The regions are analyzed in terms of value of the robotic wheelchairs market. Furthermore, prominent countries covered in the report include the U.S, Canada, Germany, the U.K., France, China, India, Japan, GCC, South Africa, and Brazil.
Global Robotic Wheelchairs Market: Scope of the Study
The report highlights key developments in the robotic wheelchairs market. Porter’s Five Force Analysis, which identifies bargaining power of suppliers, bargaining power of buyers, threat from new entrants, threat from substitutes, and degree of competition, is also included in the report. Value chain analysis that shows work flow in the robotic wheelchairs market and identifies raw material providers and distribution channels of this industry is also covered in the report.
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Segment trends and regional trends have been added in the report. It also covers segmentwise incremental opportunity analysis and countrywise econometric analysis. The countrywise econometric analysis shows a country’s economic information, which includes population, GDP, consumer spending per capita, disposable income per capita, and purchasing power parity. Furthermore, the report covers competition matrix of key players in the scope of study.
Incremental opportunity analysis identifies and compares a segment’s attractiveness on the basis of CAGR and market share index across North America, Europe, Asia Pacific, Middle East & Africa, and South America. The analysis has also been provided for each segment in terms of drive type, application, and distribution channel.