The Global Exoskeleton Market is projected to reach a value of over USD 8.9 Billion by 2027 at a CAGR of around 44.8%.
Exoskeleton refers to an artificial external skeleton which helps to support and protect an animal body. Whereas, it can be made from rigid materials such as carbon fiber and metals, as well as from soft and elastic parts. It is used to restore or enhance the user performance to walk or to lift an objects, as well as it broadly applications in construction and warehousing industries. Also it helps to improve mobility among the paraplegics. Moreover, increasing use for farmers, welders, and soldiers which will lead to enhance the demand of the market in the forecast period.
Hence, Exoskeleton is also referred to be powered armor, exo-frame, robotic suit, machine, and warbles mobile machine. These will lead to enhance the demand of the exoskeleton market in the projected period.
Market Driver:
With the rising demand in healthcare sector is witness to increase the demand of the market in the forecast period. It helps the patients to walk again with the exoskeletons service, and benefits by enhancing the bowel, bladder control and endurance. Moreover, it used to enhance the cardiovascular and metabolic functions and to advance the sitting postures. Additionally, it used as rehabilitation therapy device by the patients.
Furthermore, the use of 3D printing technology will also help to improve the product deigns without the extra costs and additional devices. Also the various manufacturing industries are using the 3D printing to enhance and develop the medical exoskeletons. These will lead to improve the efficiency of the exoskeleton market in the forecast period.
Market Restraints:
One of the major key concern of the exoskeleton market is the high cost of investment which may hamper the market growth. However, the cost of the robotics exoskeleton includes high cost of investment and high purchase price. Also, the majority of exoskeletons needs a high battery packs to enhance the strength. Hence, the high procurement costs associated with the exoskeleton market with the lack of reliability issues with the new technology are lead to create a major challenge for the market growth.
The report on the exoskeleton market covers a deep dive analysis of historic, recent and current market trends. Furthermore, market share/ranking analysis of key players, market dynamics, competition landscape, country-wise analysis for each region covered and the entire supply chain dynamics are covered through the below segmentation.
Report Features |
Specifics |
---|---|
Historical/Estimated/Forecasted Market Size Years |
2019-2027 |
Base Year for Market Calculation |
2020 |
Forecasted Period |
2021-2027 (2021 estimated year, forecasted up to 2027) |
Measured Units |
Value (USD Million) |
Segments Included |
Components, Hardware, Technology, Type, Body Type, End-Use, and Region |
Regional Coverage |
North America, Asia-Pacific, Europe, Middle East & Africa, South America |
For the scope of the report, In-depth segmentation is offered by Forencis Research
Exoskeleton Market, by Component
Exoskeleton Market, by Hardware
Exoskeleton Market, by Technology
Exoskeleton Market, by Type
Exoskeleton Market, by Body Type
Exoskeleton Market, by End-Use
Exoskeleton Market, by Region
60+ MARKET TABLES AND 30+ FIGURES WILL BE INCLUDED IN THE EXOSKELETON MARKET STUDY
Note1: Tentative table of contents, may get updated during the course of research.
Note2: Company financial information is subject to availability in public domain
60+ MARKET TABLES AND 30+ FIGURES WILL BE INCLUDED IN THE STUDY