The global exoskeleton market was worth US$ 87.9 million in 2016 and is predicted to reach US$ 2,288.3 million by 2025, representing a 44.16 percent CAGR during the forecast period. The exoskeleton market is growing due to the rising demand for rehabilitative exoskeletons in the military and healthcare sectors, as well as increased investment in exoskeleton technology research.
The Exoskeleton Market's Major Drivers
The market is growing due to the rising demand for exoskeletons from the military sector, which can carry more armor while moving quickly. Furthermore, exoskeletons can reduce the metabolic cost of the load while also allowing soldiers to cover more land and wear heavier armor, which is driving demand for exoskeletons in the military sector, which is driving the market growth.
The market for Exoskeletons by Product Type
Over the forecast period, the powered exoskeleton market is predicted to grow rapidly among product types. This increase can be linked to the rising demand for powered exoskeletons in the healthcare industry to help persons with disabilities. More than 150 Hybrid Assisted Limb (HAL) exoskeletons are in use in hospitals and assisted-living institutions in Japan, according to Ekso Bionics, a California-based bioengineering business. Because powered exoskeletons are more energy-efficient than passive exoskeletons, demand for them is likely to increase.
The market for Exoskeletons by Product Type
Over the forecast period, the powered exoskeleton market is predicted to grow rapidly among product types. This increase can be linked to the rising demand for powered exoskeletons in the healthcare industry to help persons with disabilities.
Vertical Market for Exoskeletons
In 2016, the healthcare vertical accounted for the highest proportion of the exoskeleton market across verticals. The category was valued at roughly US$ 47.6 million in 2016.
Companies that are important
Ekso Bionics, ActiveLink (Panasonic Corporation), Cyberdyne, Inc., ReWalk Robotics Ltd, Rex Bionics Plc., Lockheed Martin Corporation, Suit X (U.S. Bionics, Inc.), RB3D, Hocoma, DIH Technologies, Focal Meditech, and Ottobock are some of the major companies in the worldwide exoskeleton industry.
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