Fremont, California, December 18, 2019: According to a new market intelligence report by BIS Research – Global Roboticare Market: Analysis and Forecast, 2019-2029 – the global roboticare market was valued at $408.6 million in 2018 and is estimated to reach $2,574 million by 2029 at a CAGR of 18.27% from 2019 to 2029. The future growth of the global roboticare market is expected to be driven by factors such as growing aging population and rising incidences of physical disabilities. However, the market’s growth is subject to several challenges including ethical concerns, for instance the fear of emotionally intelligent robots replacing human beings for companionship for those using such robots. Globally, the roboticare products are aimed at assisting the patients and healthcare professionals for care in form of emotional and rehabilitation support. The demand for robots has been on a rise worldwide since the evolution of the concept of robots, and their usage has also increased in multiple sectors including healthcare. The rapid pace of innovations in artificial intelligence, increasing demand for assistance in rehabilitation, and a global dearth of nurses for personal care are factors that have also led to an increased demand of the roboticare products. According to Abdul Wahid Khan at BIS Research, “In 2018, North America held the largest market share and constituted over 38.1% of the global revenue, owing to the increasing geriatric population and awareness regarding specialized treatment centers for rehabilitation.” Research Highlights:
The report also profiles leading players such as Sony Corporation, Soft Bank Group, and Samsung Electronics. Katalyst Technologies has worked extensively in robotics and worked with enterprises to implement emerging technologies for their digital transformation, which can help them get a competitive edge and disrupt the dynamics of the market. We have worked with technologies like 3D Printing for manufacturing and automotive industry, AI in healthcare, and our tech experts have consulted enterprises for integrating high-growth applications for strategic business growth. What distinguishes Katalyst Technologies is our 360-degree offerings for not just integrations and implementations, but also our professional strategic consulting and actionable inputs for the success of our clients. Contact our experts for a free business growth strategy discussion today!
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