WESTFORD, Mass., July 3, 2024 /PRNewswire/ -- According to
SkyQuest, the global Exoskeleton Market size was valued at
USD 1.58 Billion in 2022 and is
poised to grow from USD 2.35 Billion
in 2023 to USD 23.6 Billion by 2031,
growing at a CAGR of 31.4% in the forecast period (2024-2031).
Exoskeletons are products designed to support or protect the
human body. Advancements in robotics technology and the growing
availability of affordable exoskeletons are forecasted to help
market development in the future. The need for enhanced worker
safety in industrial settings and the demand for advanced
rehabilitation technologies in the healthcare space are creating
new business scope for exoskeleton providers across the forecast
period and beyond. The global exoskeleton market is segmented into
component, type, body type, mobility, structure, industry, and
region.
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Exoskeleton Market Overview:
Report
Coverage
|
Details
|
Market Revenue in
2023
|
$ 2.35
billion
|
Estimated Value by
2031
|
$ 23.6
billion
|
Growth Rate
|
Poised to grow at a
CAGR of 31.4%
|
Forecast
Period
|
2024–2031
|
Forecast
Units
|
Value (USD
Billion)
|
Report
Coverage
|
Revenue Forecast,
Competitive Landscape, Growth Factors, and Trends
|
Segments
Covered
|
Component, Type, Body
Type, Mobility, Structure and Industry
|
Geographies
Covered
|
North America, Europe,
Asia Pacific, Middle East & Africa, Latin America
|
Report
Highlights
|
Development of hybrid
exoskeletons to promote affordability and sales
|
Key Market
Opportunities
|
Growing use of
exoskeletons for rehabilitation of trauma patients
|
Key Market
Drivers
|
Increasing acceptance
of exoskeletons for
|
Segments covered in Exoskeleton Market are as
follows:
- Component
- Hardware [Sensors(Gyroscopes, Microphones, Accelerometers, Tilt
Sensors and Others), Actuators(Electric, Pneumatic, Hydraulic,
Piezoelectric), Power Sources, Control Systems and Other],
Software
- Body Type
- Full Body, Upper Extremities, Lower Extremities
- Type
- Powered Exoskeletons, Passive Exoskeletons, Pseudo-Passive
Exoskeletons, Hybrid-Exoskeletons
- Mobility
- Structure
- Industry
- Health Care (Spinal Cord Injury, Stroke and Other), Defense
& Military, Industrial
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Powered Exoskeletons to Spearhead Revenue Generation Due to
Their High Productivity
Powered exoskeletons utilize motorized components and actuators
to provide external assistance to passive exoskeletons. These types
of exoskeletons have better productivity and are able to enhance
human capabilities beyond their limits. Advancements in robotic and
bionic technologies are also forecasted to help this segment
account for a dominant share of the global exoskeleton market.
Manufacturing and construction industry verticals are projected to
witness high demand for powered exoskeletons in the future.
On the other hand, the demand for hybrid exoskeletons is also
slated to increase at an impressive pace over the coming years.
These types of exoskeletons are created using active and passive
elements to make them more affordable as compared to powered
exoskeletons whilst offering their features as well. Healthcare and
military industries are expected to be the key end users for hybrid
exoskeletons.
Use of Exoskeleton for Rehabilitation and Assistance Make
Healthcare Applications Highly Opportune
Robotic exoskeletons are being extensively used for the
rehabilitation of patients suffering from various physical
disabilities. Growing demand for advanced assistive technologies
for the rapidly increasing geriatric population is also expected to
offer new opportunities for exoskeleton providers in the healthcare
application segment. The high incidence of road accidents and the
rising number of people suffering from trauma will also bolster the
adoption of exoskeletons in healthcare rehabilitation applications
going forward. Meanwhile, the demand for exoskeletons in industrial
applications is estimated to present highly attractive
opportunities for market players. Growing demand for better worker
safety and productivity in industrial setting will also help
companies generate good sales from this segment going forward.
View report summary and Table of Contents (TOC):
https://www.skyquestt.com/report/exoskeleton-market
Development of Novel Hardware Components to Improve the
Functionality of Exoskeletons
Hardware components play a crucial role in determining the
future of exoskeleton development. Exoskeleton companies are
continually investing in the research and development of new
hardware components that help make better exoskeletons. Lightweight
yet advanced hardware components will be high in demand over the
coming years.
The global exoskeleton market is still in its nascent stages and
this is why it offers highly remunerative opportunities for
established as well as incoming companies. Collaborating with
organization from different industry verticals will help
exoskeleton companies develop custom products and maximize their
business scope as well.
Related Reports:
Robotics Market
Service Robotics Market
Delivery Robot Market
Warehouse Robotics Market
Smart Robot Market
About Us:
SkyQuest is an IP focused Research and Investment Bank and
Accelerator of Technology and assets. We provide access to
technologies, markets and finance across sectors viz. Life
Sciences, CleanTech, AgriTech, NanoTech and Information &
Communication Technology.
We work closely with innovators, inventors, innovation seekers,
entrepreneurs, companies and investors alike in leveraging external
sources of R&D. Moreover, we help them in optimizing the
economic potential of their intellectual assets. Our experiences
with innovation management and commercialization have expanded our
reach across North America,
Europe, ASEAN and Asia Pacific.
Contact:
Mr. Jagraj
Singh
SkyQuest Technology
1 Apache Way,
Westford,
Massachusetts 01886
USA (+1) 351-333-4748
Email: sales@skyquestt.com
Visit Our Website: https://www.skyquestt.com/
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