Semiconductor and Electronics Exoskeleton Market is projected to grow up to 47.8% CAGR during the forecasting period 202...

Exoskeleton Market is projected to grow up to 47.8% CAGR during the forecasting period 2021-2027.

The term exoskeleton refers to a stiff, tough, and inflexible external covering that some invertebrates, particularly arthropods, use to protect their bodies. The exoskeleton protects animals with weaker body parts by acting as a protective cover. Humans are now benefiting from the same technology. This wearable technology was created by scientists and researchers who combined information systems and robotics to create an exterior structure for the human body. The majority of the applications are for military personnel who have suffered physical defects as a result of war. Exoskeletons are commonly used in rehabilitation centres for therapies to help people with disabilities; as a result, the healthcare category held the highest share of the exoskeleton market in 2021. There have been significant advancements in this sector in recent years, providing those with spinal cord injuries, neurological problems, and strokes hope. The use of these technologies in rehabilitation is on the rise, and their advantages are becoming more widely recognised. According to exoskeleton market research, the primary drivers driving industrial exoskeleton market growth are dramatically improved load bearing strength, reduction in manual labour and worker weariness, and reduction in work-related injuries. Advances in material technologies, software, control systems, and sensors, as well as advances in electrical and electronics engineering, have led to the development of advanced exoskeletons.

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Key Driving Factors: Human augmentation technology is being more widely used in the industrial and military sectors.

Exoskeletons are being used by many companies to improve their facilities. Also, as the industrial and military sectors evolve, the necessity for automation grows; as a result, manufacturers are working on producing prototypes that can adapt to exoskeleton needs in real time. As a result, the growing demand for human augmentation in the industrial and military sectors presents potential for the exoskeleton market to flourish.

Opportunities:  Human augmentation technology is being more widely used in the industrial and military sectors.

Load systems have been transformed into human enhancement devices after years of development. Because exoskeleton devices can improve powerlifting, load carrying, and endurance functions, the market has garnered financing from a number of countries' defence departments. Exoskeletons also have a positive growth forecast, which, combined with increased awareness of these devices in other disciplines, is attracting greater investment in the industry particularly from private venture capitalists.

This report offers the major market player’s profiles, such as 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  

Based on Vertical: The healthcare industry has the largest proportion of the market. The expanding use of exoskeletons in rehabilitation centres, the rising prevalence of SCI, and the resulting increase in treatment rates are all likely to fuel category growth. Furthermore, growing awareness of technologically advanced systems, as well as an increasing number of FDA approvals for medical exoskeletons, are expected to drive higher demand for exoskeletons in the healthcare business.

The Exoskeleton Market report has been categorized as below

By Component

  • Hardware

  • Software

By Type

  • Powered

  • Passive

By Mobility

  • Stationary

  • Mobile

By Body part

  • Lower Extremities

  • Upper Extremities

  • Full Body

By Vertical

  • Healthcare

  • Defense

  • Industrial

  • Others

By Region

  • North America

  •  Europe

  • Asia Pacific

  • Rest of World

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Published Date : July-2021