Exoskeleton Robots Market Analysis, Trends and Dynamic Demand by Forecast 2017 to 2032

Exoskeleton Robots Market is forecasted to skyrocket at an impressive CAGR of 23.7%, rising from its current market valuation of US$ 950 million to US$ 8 billion by the end of 2032.
Exoskeleton Market: Key Trends

Combination of Smart Technology and Robots To Boost The Market

Exoskeleton robots are becoming increasingly popular in various industries across the globe owing to their advanced technical abilities. The medical, logistics, and engineering sectors have all benefited from the development of technologies like interactivity Internet of Things (IoT) and artificial intelligence (AI) and interactive learning, virtual guidance, and digital assistants for robots.

In addition, the field of robotics has undergone significant changes due to the introduction of methodologies, such as human-in-the-loop optimization, that has been optimized in robotics. The real-time measurement of human physiological data like the rate of breathing can be used to adjust the settings of control and other functions within these methods.

In addition, reputed companies offer rechargeable battery packs and detachable torque assistors, and various operating algorithms that support users who are unable to lift heavy weights and other repetitive or demanding tasks.

Driver: Rise in Demand for the Robotic Rehabilitation from the Healthcare Sector

Robot-assisted therapy devices are highly utilized in rehabilitation processes because they offer countless advantages in the repetition of moves during goals-directed tasks as well as the evaluation of various functional and physiological parameters during rehabilitation exercises, enhancing motivation, as well as assisting with training and exercises at home.

Exoskeletons used for these purposes have increased partly due to the growth in the number of physically disabled individuals, particularly those with geriatric disabilities. As per the Statistics Bureau of Japan, in 2019, the number of people who were 65 years old and above reached 35.89 million, representing 28.4% of the total population. This does not just mean an increase in users of humanoid robots but also indicates that the number of individuals who care for the disabled and elderly will reduce.

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Exoskeleton Market: COVID-19 Impact

The COVID-19 pandemic had a minor impact on the marketplace that was mainly associated with the nationwide lockdowns announced in 2020 to curb the virus spread.. Also, the population most affected by the virus were the elderly population, the highest users of exoskeletons.

There are many countries that are still in complete or partial lockdowns and have suspended trade with other nations, leading to a drop in orders for exoskeletons in the market. This in turn is having a direct impact on direct sales operations affecting lot of companies of major players.

Global Exoskeleton Robots Market: Major Players
Hocoma
Daewoo Shipbuilding and Marine Engineering
Alter G
Sacros
Toyota Motors
Rex Bionics
Interactive Motion Technologies
Honda
Ekso Bionics
ReWalk Robotics
Parker Hannifin
Panasonic
US Bionics
LockHeed Martin
Cyberdyne
Myomo

Global Exoskeleton Robots Market: By Types
Lower Body Exoskeletons
Full Body Exoskeletons
Upper Body Exoskeletons

Global Exoskeleton Robots Market: By Applications
Military
Industrial
Construction
Personal Use
Others

Global Exoskeleton Robots Market: Regional Analysis
All the regional segmentation has been studied based on recent and future trends, and the market is forecasted throughout the prediction period. The countries covered in the regional analysis of the Global Exoskeleton Robots market report are U.S., Canada, and Mexico in North America, Germany, France, U.K., Russia, Italy, Spain, Turkey, Netherlands, Switzerland, Belgium, and Rest of Europe in Europe, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, China, Japan, India, South Korea, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), and Argentina, Brazil, and Rest of South America as part of South America.

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Frequently Asked Questions About This Report
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