1. Business

Rise of the Machines: Boon or Bane? Exploring the Potential and Challenges of Robotics

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assistive robotics market size is expected to grow from USD 4.1 billion in 2019 to USD 11.2 billion by 2024, at a CAGR of 22.3% during the forecast period.

Robotics is a broad field of technology that includes the design, construction, operation, and application of robots. Robots are machines that can sense their environment and take actions in response to it. They can be used for a variety of purposes, including manufacturing, healthcare, logistics, and exploration.

Assistive robotics is a specific field of robotics that focuses on the development of robots to help people with disabilities or limitations. Assistive robots can provide a variety of services, such as physical assistance, communication assistance, and cognitive assistance.

Here are some of the benefits of robotics and assistive robotics:

  • Increased productivity: Robots can automate tasks that are repetitive, dangerous, or difficult for humans to perform. This can lead to increased productivity and efficiency in a variety of industries.
  • Improved safety: Robots can be used to perform tasks that are dangerous for humans, such as working in hazardous environments or handling hazardous materials. This can help to reduce workplace injuries and fatalities.
  • Enhanced quality of life: Assistive robots can provide people with disabilities or limitations with greater independence and mobility. This can improve their quality of life and allow them to participate more fully in society.

However, there are also some challenges associated with robotics and assistive robotics:

  • Cost: Robots can be expensive to develop, purchase, and maintain. This can make them inaccessible to some people and businesses.
  • Job displacement: As robots become more sophisticated, they may displace some workers from their jobs. This could lead to unemployment and social unrest.
  • Safety concerns: There is a risk that robots could malfunction or be used for malicious purposes. It is important to develop safety measures to mitigate these risks.

Overall, robotics and assistive robotics have the potential to revolutionize many aspects of our lives. However, it is important to be aware of the challenges associated with these technologies and to develop them responsibly.

1 Introduction (Page No. — 16)
 1.1 Study Objectives
 1.2 Definition
 1.3 Study Scope
 1.3.1 Years Considered
 1.4 Currency
 1.5 Stakeholders

2 Research Methodology (Page No. — 19)
 2.1 Research Data
 2.1.1 Secondary Data Key Data From Secondary Sources
 2.1.2 Primary Data Key Data From Primary Sources Breakdown of Primaries
 2.1.3 Secondary and Primary Research Key Industry Insights
 2.2 Market Size Estimation
 2.2.1 Bottom-Up Approach
 2.2.2 Top-Down Approach
 2.3 Market Breakdown and Data Triangulation
 2.4 Research Assumptions and Limitations
 2.4.1 Assumptions
 2.4.2 Limitations

3 Executive Summary (Page No. — 28)

4 Premium Insights (Page No. — 31)
 4.1 Attractive Market Opportunities in Assistive Robotics Market
 4.2 Market, By Type
 4.3 Market, By Mobility
 4.4 Market in APAC, By Application vs Country
 4.5 Market, By Application
 4.6 Market, By Country

About MarketsandMarkets™

MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

Earlier this year, we made a formal transformation into one of America’s best management consulting firms as per a survey conducted by Forbes.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines — TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies — helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

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