Smart Exoskeleton Market to Register Significant CAGR of 9.94% through 2026
Increasing demand for
robotic technologies across various sectors is driving the global smart
exoskeleton market until 2026.
According to TechSci Research report, “Global
Smart
Exoskeleton Market By Component (Actuators, Power Source, Control System,
Sensors, Others), By Type (Rigid v/s Soft), By Product Type (Active v/s Passive),
By Body Part (Upper body, Lower body, Full body), By Application (Healthcare,
Industrial, Military, Others), By Region, Competition, Forecast &
Opportunities, 2026”, the global smart
exoskeleton market stood at USD147.12 million in 2020 and
is anticipated to grow at an impressive rate of around 9.94% during the
forecast period owing to the increasing geriatric population suffering from
problems such as paralysis, muscular dystrophy, among others. Additionally,
growing demand in gait rehabilitation is further expected to support the market
growth over the next few years. Furthermore, increasing demand for industrial
body parts especially in production sites for load intensive activities is
expected to spur the market growth. The actuators present in smart exoskeleton
are able to augment human movement and enhance the power of a person. However,
high cost of smart exoskeletons leads to affordability constraints, thereby
hampering the growth of the global smart exoskeleton market. Besides, lack of
awareness and adoption, especially in the developing countries, further
restricts the market growth. Also, availability of cheaper alternatives
especially in healthcare applications further slows down the market growth.
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157 market Data Figures spread through 110 Pages and an
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The global smart exoskeleton market is segmented
based on component, type, product type, body part, application, region and
company. Based on product type, the market can be split into active and
passive. The active exoskeleton segment dominated the market with an overall
share of 64.52% in 2020 and is expected to continue its dominance over the next
few years. This can be ascribed to the fact that these are powered exoskeletons
and are programmable and suitable for various applications in healthcare,
military and industrial applications. However, passive exoskeletons on the
other hand are very task specific and cannot be used efficiently during a whole
day, limiting their concrete use. Based on body part, the market can be
categorized into upper body, lower body and full body. The upper body segment
is expected to dominate the market owing to the widespread use of upper body
exoskeletons in industrial, military and healthcare purposes. Also, they are
quite cost effective. Based on end user, the market can be fragmented into
healthcare, industrial, military and others. The healthcare segment is expected
to dominate the market during the forecast period owing to the growing
prevalence of injuries, accidents, and stroke prevalence, among others.
Major players operating in the global smart
exoskeleton market include ATOUN Inc. (Panasonic), Cyberdyne, Inc., Ekso
Bionics Holdings Inc., Myomo, Inc., ReWalk Robotics, Inc., Rex Bionics Ltd.,
Bionik Laboratories Corp., Lockheed Martin Corporation, Raytheon Company,
Parker Hannifin Corp etc. Major companies are developing advanced technologies
and launching new products in order to stay competitive in the market. Other
competitive strategies include mergers & acquisitions and new product
developments. Download Sample Report @ https://www.techsciresearch.com/sample-report.aspx?cid=4033
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“North America is expected to dominate the
market during the forecast period owing to the growing prevalence of spinal and
workplace injuries in the region requiring the use of smart exoskeletons.
Additionally, increasing healthcare expenditure and awareness pertaining to
rehabilitation among the population is further expected to fuel the market
growth. Also, the presence of major market players such as Ekso Bionics
Holdings Inc., Myomo, Inc., Raytheon Company, Parker-Hannifin Corporation,
among others in the region is further expected to support the market growth.,” said
Mr. Karan Chechi, Research Director with TechSci Research, a research based
global management consulting firm.
“Global Smart Exoskeleton Market By Component (Actuators, Power Source, Control System, Sensors,
Others), By Type (Rigid v/s Soft), By Product Type (Active v/s Passive), By
Body Part (Upper body, Lower body, Full body), By Application (Healthcare,
Industrial, Military, Others), By Region, Competition, Forecast &
Opportunities, 2026” has evaluated the
future growth potential of the global smart exoskeleton market and provides
statistics & information on market size, structure and future market
growth. The report intends to provide cutting-edge market intelligence and help
decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges and opportunities in the global smart exoskeleton market.
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