Global Exoskeleton Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2027

MarketResearch.biz delivers in-depth insights on the global exoskeleton market in its upcoming report titled, “Global Exoskeleton Market Trends, Applications, Analysis, Growth, and Forecast: 2017 to 2027”. The global exoskeleton market is estimated to register a CAGR of XX.X% in terms of value during forecast period 2017–2027. The report offers in-depth insights, revenue details, and other vital information regarding the target market, and the various trends, drivers, restraints, opportunities, and threats till 2027. The report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. The global exoskeleton market report has been segmented on the basis of component, technology, end-user, and region.

This report is based on synthesis, analysis, and interpretation of information gathered regarding the target market from various sources. Our analysts have analyzed the information and data and gained insights using a mix of primary and secondary research efforts with the primary objective to provide a holistic view of the market. In addition, an in-house study has been made of the global economic conditions and other economic indicators and factors to assess their respective impact on the market historically, as well as the current impact in order to make informed forecasts about the scenarios in future.

Exoskeleton provides external support and protection to a living being with comparison to internal skeleton or endoskeleton. Exoskeletons are made up of rigid materials such as metal or carbon fiber. It is an external structural mechanism with joints and links powered by electric motors, pneumatic, levers, hydraulics or combination of two or more technologies.

Increasing demand for exoskeleton in healthcare sector for robotic rehabilitation therapies, ongoing technological advancements, and high investments in development of exoskeleton technology are major factors expected to drive growth of the global market over the forecast period. In addition, increasing investments by government for research and development for more accessible and affordable mobility solutions is another factor expected to further fuel growth of the target market in the near future. Furthermore, stringent government policies regarding user safety and robot reliability, which is another factor expected to boost growth of this market. Moreover, developing start-ups in robotic technology and ongoing developments in various countries are other factors expected to propel growth of the target market over the forecast period. For instance, in the year 2016, center for Robotics at University of Electronic Science & Technology of China, announced the production of robotic exoskeleton for walking assistance.

However, high costs of equipment and less awareness of products are major factors expected to restrain growth of the global market over the forecast period.

Ongoing trend observed in the target market is increasing incidence of nervous system trauma is a key factor driving usage of exoskeletons in healthcare industry. In addition, patients with spinal cord injuries (SCI) are other end-users of exoskeletons in this market.

Technological advancements for developing low cost devices is expected to create potential revenue opportunities for players operating in the target market over the forecast period.

The market in North America is expected to dominate the global market in terms of revenue over the forecast period, owing to presence of key exoskeleton manufacturers in various countries in this region. In addition, rising adoption of exoskeletons in various industries such as military, healthcare, etc. is expected to drive growth of target market in this region over the forecast period. The market in Asia Pacific is expected to register significant share in terms of revenue over the forecast period, owing to increasing demand for industrial robotics in various developing countries in this region.

Global exoskeleton market segmentation:

Segmentation by component:

• Hardware
• Software

Segmentation by technology:

• Pneumatic Actuator
• Hydraulic
• Electric Servo
• Electric Actuator
• Fully Mechanical
• Shape Memory Alloy Actuator

Segmentation by end-user:

• Healthcare
• Military
• Industrial
• Others (Construction, Search and Rescue, Agriculture, Education, and Sports and Fitness)

Segmentation by region:

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