According to a new market research report published by Credence Research “Exoskeletons Market (by Extremities Position: Upper, Lower, and Full Body; by Type: Powered and Passive; by Mobility: Fixed and Mobile; by End-user: Healthcare, Defense and Industrial) – Growth, Future Prospects, and Competitive Landscape, 2018-2026”, the exoskeletons market estimated to grow with a CAGR of 46.1% during the forecast period from 2018 to 2026.

The complete report is available at https://www.credenceresearch.com/report/exoskeleton-market

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Market Insights

Robots deployed for specific applications are replacing human workers rapidly across all end-user verticals. However, the modern-day robotics still has to evolve considerably to substitute humans on different fronts. Researchers and several robotic companies are trying to develop wearable robotic technologies to aid human workers by enhancing their performance for a variety of tasks. Such wearable robotic technology is known as exoskeleton or exosuit. Panasonic spokesperson Mio Yamanaka claims that the exoskeletons are all set to change the lives of people within 15 years. Exoskeleton provides additional physical attributes to human used for lifting & moving heavy objects for application such as public works, construction, agriculture, and forestry. Besides, exoskeletons are also extensively used by soldiers for defense applications.

Exoskeleton is finding new application in medical and healthcare end-use vertical. The technology is gaining traction for rehabilitation of patients with physical moment disabilities required to wheelchair or crutches. Evolution of new and lighter composite materials and advancement in powered robotics are expected to encourage the growth of exoskeleton in coming years. With almost endless application yet to discovered, exoskeleton is a technology projected to stay and grow throughout and beyond the forecast period from 2018 to 2026.

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Competitive Insights:

Exoskeleton market is still in its nascent stages of development and the technology is yet to witness several radical upgradations in years to come. However, robotics and heavy industrial manufacturers are facing fierce competition in order to introduce their best exoskeleton in the market. These companies are developing exoskeletons for industrial and commercial applications. Besides, companies are also trying to develop exoskeleton for military and defense application and acquire contracts from military organization across the globe. In addition, companies are trying to enhance the performance and capabilities of exoskeleton for medical applications. The report highlights business strategies and development of major exoskeletons vendors including Lockheed Martin Corporation, Parker Hannifin, Honda Motor Co. Ltd., Hyundai Motor, ReWalk Robotics, MITSUBISHI HEAVY INDUSTRIES, Rex Bionics Plc, Suit X, ActiveLink, Bionik Laboratories Corp, DIH Technologies Corporation, Cyberdyne Inc., and Ottobock among others.

Key Analysis Covered:

• Recent trends in exoskeletons market and growth prospects for leading exoskeleton develop and researchers
• Positive impact of exoskeletons on several end-user including military & defense and medical application
• Variety type of exoskeletons used for different applications along with their market estimations
• Major and fastest growing segments in terms of extremities, type, mobility, and end-user
• Most promising current and upcoming geographical regions/ countries for the exoskeletons market