Tag: robotics

Steady stream of innovation to attract funding from diverse industries and drive growth opportunities, finds Frost & Sullivan’s TechVision team

London – 31 May, 2017 – Robotic exoskeletons are rapidly breaking out of the realm of sci-fi, finding application across varied industries, including healthcare, military, sports, robotics, construction, logistics, warehouse and industrial automation. Their exceptional ability to rehabilitate patients with physical or neurological disorders, or enhance the wearer’s physical strength, efficiency, performance capability and functionality, is encouraging research institutes and technology developers to constantly innovate solutions and techniques. Exoskeletons can also be integrated with artificial intelligence, predictive analytics, virtual reality and haptics to deliver a truly futuristic solution.

“In addition to medical benefits, robotic exoskeletons augment the wearer’s physical strength and allow them to lift very heavy weights without using machinery,” noted Frost & Sullivan TechVision Research Analyst S. Kasthuri Jagadeesan. “Currently, the industrial automation industry employs back support suits, power gloves and tool holding exoskeletons to improve worker efficiency, as well as reduce fatigue and stress.”

Emerging Robotic Exoskeleton Technologies is part of Frost & Sullivan’s TechVision (Advanced Manufacturing Automation) Growth Partnership Service programme. The study analyzes the present degree of applicability of robotic exoskeletons and the recent innovations that will have a tremendous impact across industries. It presents a technology road map and determines the impact, growth, adoption rate and role of robotic exoskeletons between 2017 and 2022. By 2022, the wide-scale adoption of robotic exoskeleton technologies is anticipated to increase significantly.

Click here for complimentary access to more information on this analysis and to register for a Growth Strategy Dialogue, a free interactive briefing with Frost & Sullivan’s thought leaders.

Robotic exoskeletons have found substantial application in safety and security industries as well, as they can be used by first responders during dangerous evacuation and rescue situations. Due to these advantages, the military and healthcare industries are investing heavily in the research and development (R&D) of this technology.

Despite the interest shown by a few stakeholders, funding is often tight, partly due to the high R&D costs, while the high cost of implementation is proving a deterrent to mainstream adoption. Once the robotic exoskeleton technology stabilizes and more innovative, segmented solutions are introduced, there will be greater industry and academic participation in technology development and adoption.

“Segmented robotic exoskeletons efficiently perform and address the evolving needs of varied industries, as each segment is designed for particular tasks in particular market segments,” noted Jagadeesan. “In the future, there will be new business opportunities for companies to provide service, software support, and even maintenance/service of exoskeleton suits.”

About TechVision

Frost & Sullivan's global TechVision practice is focused on innovation, disruption and convergence, and provides a variety of technology-based alerts, newsletters and research services as well as growth consulting services. Its premier offering, the TechVision program, identifies and evaluates the most valuable emerging and disruptive technologies enabling products with near-term potential. A unique feature of the TechVision program is an annual selection of 50 technologies that can generate convergence scenarios, possibly disrupt the innovation landscape, and drive transformational growth. View a summary of our TechVision program by clicking on the following link: http://ifrost.frost.com/TechVision_Demo.

About Frost & Sullivan

Frost & Sullivan, the Growth Partnership Company, works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today's market participants. For more than 50 years, we have been developing growth strategies for the global 1000, emerging businesses, the public sector and the investment community. Contact us: Start the discussion

Emerging Robotic Exoskeleton Technologies

Robotics Epicenter Shifts from Japan to the United States in the Global Healthcare Industry

United States emerging as the development and application hub for both industrial and service robots, finds Frost & Sullivan’s Transformational Health team

The pressing need to streamline workflows, improve the quality of healthcare, and provide round-the-clock monitoring for the growing population of elderly and disabled patients is driving the global care assistant robots market. Expected to grow at an impressive compound annual growth rate of 36 percent between 2017 and 2021, the market encourages technology developers and healthcare providers to collaborate, boosting the adoption of care robots for resolving operational workflow bottlenecks. Declining costs of hardware and robot-enabling software will ensure sustainable market growth going forward, guaranteeing high return on investment (ROI) for early-stage investors.

“Robotics, for both industrial and service use, is seeing a regional shift in technology innovation and advanced application; dominance has shifted from the early epicenter in Japan to the United States,” said Transformational Health Industry Analyst Harpreet Singh Buttar. “Many start-ups are emerging from Silicon Valley, where the future of robotics is being shaped.” 

Global Care Assistance and Automation Robots Market, Forecast to 2021, a part of Frost & Sullivan’s Advanced Medical Technologies Growth Partnership Service program, examines the changing footprint of different types of care assistance robots, such as pharma automation, exoskeleton, daily care,  transportation, telepresence, and rehabilitative. The market is expected to generate $4,473.1 million by 2021, with new growth opportunities driven by:

• Growing penetration of cognitive computing, mobile app control, and image or speed recognition
• Widening scope for consolidation within healthcare segments
• Shift to fee-for-value model

Click here for complimentary access to more information on this analysis and to register for a Growth Strategy Dialogue, a free interactive briefing with Frost & Sullivan’s thought leaders.

Successful collaboration, seamless integration of robots within hospital environments, and first-mover advantage are the core strategies enabling top contenders such as Cyberdyne, iRobot, Aethon and Swisslog to stay ahead. Two factors restraining widespread adoption of care assistance robots are high costs of ownership and lack of awareness about the reliability of these systems in critical treatment processes such as surgery. Real-life demonstration of the efficiency of these robots is helping address the first issue. Manufacturers and healthcare organizations must work together to develop robotic solutions that will provide users the best benefits at the lowest risks.

“Rise in demand for hospital telepresence robots is principally due to increasing use of telemedicine, whereby off-site physicians communicate in real time with on-site patients through robots,” observed Buttar. “As competition is expected to increase in the coming years, finding the right type of partner for the right type of robotic technology in any segment will be crucial to gain early leadership and traction in this market.”

About Frost & Sullivan

Frost & Sullivan, the Growth Partnership Company, works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today's market participants. For more than 50 years, we have been developing growth strategies for the global 1000, emerging businesses, the public sector and the investment community. Contact us: Start the discussion

Global Care Assistance and Automation Robots Market, Forecast to 2021

K0F6-54