Robotic companions for the elderly in Korea

Korea ranks fourth in the deployment of industrial robots across the globe. It is on the fast track to have the world’s largest stock of robots by 2016. Korea is also home to 6 million people above the age of 65. Korean innovators are now bringing robots into the homes of the elderly. Spire Research and Consulting shared its insights, published on the US Consumer Electronics Association’s blog.

The robotics industry in Korea reached a total revenue of KRW2.1 trillion in 2012 (approximately USD2 billion) – a two-fold increase in size since 2009. More than 600 domestic robot manufacturing companies operate within the country, employing more than 34,000 people. The government plans to spend KRW7 trillion (approximately USD6.3 billion) by 2018 in this industry.

At the same time, Korea’s silver market will grow to eight million seniors by 2020. There are many companies catering to the unmet needs of the elderly. GoCart – a Korean-made robot – started distributing meals in elder care facilities in the U.S. since October 2014.

Quite a few robots have been integrated to existing devices such as a Galaxy Tab and Ipads – mounted on an external structure. A typical example of this concept is Furo-I – launched by Korea’s future robot – with a parrot-shaped controller to receive instructions from a detachable touchscreen tablet.

On the other hand, people are still skeptical about giving up too much control to artificial intelligence. Some factors that deter consumers from purchasing robots include technical faults and total expenditure. As a result, industry players have not yet generated adequate sales volume and still need to rely on the government to fund research and development initiatives.

The good news is that Korean household robot manufacturers are well placed to succeed in the coming years, as robots continue to get up close and personal within the human household.

https://www.spireresearch.com/newsroom/media/robotic-companions-for-the-elderly-in-korea/

Comments

India’s ‘hairy’ exports for Africa

Renowned for its beauty, texture and strength, the Indian hair export market is worth about USD393.5 million. With rising demand in the African subcontinent for extensions and wigs, Indian companies are now keen to invest into the hair business more than ever. The recent announcement of South Africa-based hair extension company Friska Hair being acquired by Godrej Consumer Products India shows that hair export is serious business. One driving factor is Africa’s young and growing population, which helps ensure that consumer spending grows in lockstep with GDP. This is good news for Indian hair exporters. https://www.spireresearch.com/newsroom/spirethoughts/indias-hairy-exports-to-africa/

Spire chosen as Official Research Partner to the ALYA WTA Malaysian Open for sixth year in a row

Spire was honored to be appointed as the Official Research Partner for the sixth consecutive year for the ALYA WTA Malaysian Open – an international tennis tournament sanctioned by the Women Tennis Association (WTA). The event was held from 27th February to 5th March 2017 at the Kuala Lumpur Golf and Country Club (KLGCC) in Kuala Lumpur, Malaysia. Along with the Lawn Tennis Association of Malaysia (LTAM), Spire was thrilled to be a part of this prestigious event, organized by Sime Darby – a Malaysia-based multinational conglomerate. Talented sportspersons such as Elina Svitolina, Carla Suarez Navarro, Caroline Garcia and Yulia Putintseva graced the court. As the Official Research Partner, Spire’s Malaysia team aided organizers to improve event arrangements in the coming years using a Face-to-Face intercept research method to interview spectators. Spire’s regular participation in this international event showcases the quality and consistency of the research we provide. h...

Egyptian-Israeli gas deal to boost bilateral trade

A USD15 billion deal has been announced between Israel and Egypt to export natural gas. Israel’s Delek Group has signed an agreement to supply 64 billion cubic meters of gas in a span of ten years to Egypt’s Dolphinus Holdings. The deal is considered a milestone ever since the 1979 peace accord, bringing Egypt a step closer to becoming a regional energy hub. However, the transportation of natural gas from Israel to Egypt is a challenge given the security risks. Will the Egypt-Israel gas export deal usher in a relationship of bonhomie and economic co-operation? Read more here: https://www.spireresearch.com/newsroom/spirethoughts/egyptian-israeli-gas-deal-to-boost-bilateral-trade/

Egyptian-Israeli gas deal to boost bilateral trade

Germany: The Eurozone’s economic powerhouse

Germany is the fourth largest global economy today. Its exports amounted to EUR107 billion in March 2015 – an all-time high since the 1950’s. Despite being the only European nation with a strong manufacturing base and rising employment rate, will Germany succeed to drive Eurozone’s stagnant economy? And what lessons does Germany’s economic success hold for the rest of the world? Germany’s resurgence With the second lowest unemployment rate in the European Union (EU) at 5.3 per cent, Germany’s economy has survived many setbacks. The economic success dates back to the Industrial Revolution due to the early adoption of coal production and rail transportation. Moreover, the fall of the Berlin Wall – the reunification of West and East Germany – and the expansion of the EU created huge market opportunities for Germany. Often regarded as the ‘Sick man of Europe’, Germany had almost lost hope of returning to rapid economic growth, undergoing recessions in 2003 and a dismal 1.2 p...

The Knowledge to Decide

Search This Blog