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Smart Exoskeleton Market Inclinations & Development Status Highlighted for the Forecast Period Between 2018 and 2026

Press release   •   Jul 23, 2019 11:45 IST

Global Smart Exoskeleton Market was valued US$ 125.88 Mn in 2017 and is expected to reach US$ 1985.52 Mn by 2026 at a CAGR of 41.17% during the forecast period. Global Smart Exoskeleton Market

Agreements and collaborations among companies and research organizations for the development of the exoskeleton technology and growth in the demand for effective rehabilitation approaches are the major factors for growth of global smart exoskeleton market. Also increasing insurance coverage for medical exoskeletons in several countries drive the global smart exoskeleton market.Introduction of soft actuators provides new opportunities of global smart exoskeleton market. However high cost of medical exoskeletons limiting the growth of market.

Based on type, rigid exoskeleton contributed to more than 90% of the total market share in 2017 and is expected to remain dominant during the forecast period. This is because of its ability to offer protection against physical damage and abrasion that can prove to be beneficial in the industrial sector. However, soft exoskeleton is expected to grow at the highest CAGR of 56.2% from 2018 to 2026, because of its characteristics like compact size, lightweight, and less usage of energy.

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The applications analyzed in the exoskeleton market are healthcare, military, and industrial use. The healthcare segment held the major share of the market in 2015. This segment is further categorized into rehabilitation, elderly care, and assistive living facilities. Also, industry segment is projected to witness highest growth rate during the forecast period. Key factors contributing to growth of this segment include rising incidences of work-related injuries and increasing awareness on the benefits of using exoskeleton technology in the industrial setup.

North America dominated the market in 2015 with a major market share, by region. The key contributors for the large share can increase in geriatric population and the growing purchasing power of patients. In 2015, the U.S. held the largest share of market because of its growing adoption of exoskeletons in various segments like healthcare, rehabilitation centers, military and industrial processes. However, Asia Pacific market is expected to witness the highest growth over the forecast period. Rising geriatric population and increasing prevalence of stroke & SCIs, presence of a large pool of patients, increasing disposable income, and availability of government funding are few factors that are projected to drive the smart exoskeleton drive during the forecast period. The global smart exoskeleton market growth attributed to the heavy investments on R&D by large industry players, such as Ekso Bionics and ReWalk Robotics Ltd., for the development of new products and prototypes in the country. Also, this market has presence of large number of public & private institutions offering grants & funds for the development of advanced products.

The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding dynamics, structure by analyzing the market segments by type, power rate, application and region and, project the global market size. The report also provides a clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Smart Exoskeleton market. The report also provides PEST analysis, PORTER’s analysis, SWOT analysis to address the question of shareholders in arranging the efforts and investment in the near future to a particular market segment. Scope of Global Smart Exoskeleton Market

Global Smart Exoskeleton Market, By Component

• Sensors • Actuators • Power Source • Control System • Others 

Global Smart Exoskeleton Market, By Type

• Soft Exoskeleton • Rigid Exoskeleton 

Global Smart Exoskeleton Market, By Body Part

• Upper Body • Lower Body • Full Body 

Global Smart Exoskeleton Market, By Application

• Industrial • Healthcare • Military • Others 

Global Smart Exoskeleton Market, By Region

• North America • Europe • Asia Pacific • Middle East & Africa • South America 

Key players operating in Global Smart Exoskeleton Market

• Ekso Bionics Holdings, Inc, • ReWalk Robotics Ltd • Parker Hannifin Corp • Bionik Laboratories Corp • CYBERDYNE Inc. • Rex Bionics Ltd. • B-TEMIA Inc. • Hocoma AG (A Subsidiary of DIH Technologies) • Wearable Robotics SRL • Gogoa Mobility Robots SL • ExoAtlet, O.O.O. • ATOUN Inc. • BIONIK • Honda Motor Co. Ltd. • Sarcos Corp. • Technaid. S.L. • US Bionics, Inc.

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