Global Smart Exoskeleton Market to Grow at Colossal Rate through 2024

Advancements in robotic technologies along with increasing investment for development of exoskeleton technology to drive global smart exoskeleton market until 2024

According to TechSci Research report, “Global Smart Exoskeleton Market By Component, By Type, By Body Part, By Application, By Region, Competition, Forecast & Opportunities, 2024”, global smart exoskeleton market is expected to grow at colossal rate during forecast period on account of growing demand from healthcare sector for robotic rehabilitation. Moreover, factors such as rising geriatric population, increasing cases of paralysis and rising cases of spinal cord injury are anticipated to positively influence global smart exoskeleton market through 2024. However, high equipment cost associated with the smart exoskeleton can act as challenge for the growth of the market.

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Global smart exoskeleton market can be segmented based on component, type, body part, application and region. On the basis of component, the market can be segmented into sensors, actuators, power source, control system, among others. In 2018, actuators segment accounted for the largest share and is anticipated to maintain its position during forecast years as well owing to its ability to improve the efficiency of smart exoskeleton through control of errant motions. Based on types, global smart exoskeleton market can be bifurcated into soft exoskeleton and rigid exoskeleton, of which the former is expected to grow at the highest rate through 2024 due to its features such as compact size, lightweight and reduced usage of energy.    

ATOUN Inc., Bionik Laboratories Corp., Cyberdyne, Inc., Ekso Bionics, Honda Motor Co. Ltd., ReWalk Robotics, Inc., Rex Bionics Ltd., Sarcos Corp., Technaid. S.L., US Bionics, Inc., etc. are some of the major players operating in global smart exoskeleton market. Companies operating in the market are using organic strategies such as product launches, mergers and collaborations to boost their share.

“North America is at the forefront of global smart exoskeleton market and is expected to register significant growth during forecast period as well on account of increasing adoption of exoskeletons in various applications including industrial, military, healthcare, etc., in the region. Moreover, presence of institutions offering funds and grants for the development of advanced products is would further positively influence the growth of North America smart exoskeleton market until 2024.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

“Global Smart Exoskeleton Market By Component, By Type, By Body Part, By Application, By Region, Competition, Forecast & Opportunities, 2024” has evaluated the future growth potential of 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 global smart exoskeleton market.

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