technology news

Exoskeleton Market Detailed Analysis of Current Industry Figures with Forecasts Growth By 2024

New research report on Exoskeleton market, which is a detailed analysis of this business space inclusive of the trends, competitive landscape, and the market size. Encompassing one or more parameters among product analysis, application potential, and the regional growth landscape, Exoskeleton market also includes an in-depth study of the industry's competitive scenario.

In 2016, the exoskeleton shipment crossed 2000 units. Increasing use of exoskeleton in rehabilitation for patients will fuel the exoskeleton market growth. These devices reinforce, augment and restore human performance. Increase in the number of orthopedic disorders and rapidly growing elderly population will provide stable growth prospects over the forecast timeline.

The product offer features such as performance assistance, adjustable frame and custom application software. These characteristics provide increased strength, security, and working efficiency for the workers in shipbuilding and heavy machinery industries. Investments in developing products for enhancing physical strength of industrial workers will augment the exoskeleton market size from 2016 to 2024.

Request Sample Copy of this Report @

Exoskeleton Market size is estimated to surpass USD 3.4 billion by 2024; according to a new research report

Exoskeleton Market Detailed Analysis of Current Industry Figures with Forecasts Growth By 2024
Exoskeleton Market Detailed Analysis of Current Industry Figures with Forecasts Growth By 2024

Request Sample Copy of this Report @

However, stringent government regulations concerning about the user safety and robot reliability are affecting the business. Manufacturers complying with these standards and get the approval from the regulatory authority possess high market potential during the forecast period. High price of these equipment is limiting the product adoption. The companies, such as Argo and Ekso are facing the problem in marketing products owing to the high price. Industry players also face difficulty in convincing insurance firms to cover the costs of these devices.

Mobile exoskeleton market accounted for highest revenue share of over 61% in 2016 and is estimated to continue its dominance during the study period. The segment growth is credited to increased application in military & industrial segment. Mobile exoskeleton provides mobility to the wearer while augmenting strength to lift heavy load. Stationary products are deployed in rehabilitation centers and hospitals. These products provide fast recovery for the patients suffering from spinal cord injuries and other mobility impairment disorders.

Robotic development companies are using low cost, high strength material to enhance safety of operation in healthcare, industrial and military applications. Increasing funding from defense department of various countries to strengthen arm forces capability will stimulate the industry demand. For instance, in 2016, South Korea defense firms developed exoskeleton systems for Republic of Korea Army (RoKA). These systems are designed to increase soldier?s strength and endurance.

Lower body exoskeleton acquired more than 60% of total revenue in 2016. These products are used to restore movement of disabled persons. Also, the companies such as Lockheed Martin are investing and developing effective lower body products to enable operation in hostile conditions for security forces. Upper body segment is projected to exhibit highest CAGR of 53% owing to increasing demand in industrial applications such as welding. Full body segment is poised to exhibit growth owing to use in security & defense applications. Revenue for this segment will cross USD 760 million in 2024.

Healthcare sector dominated the overall exoskeleton market size in 2016 and is expected to continue its dominance during the study period. Increasing spending on healthcare, technological advancements to increase safety and stringent government regulation will attribute to the segment growth. Military segment is expected to witness an exponential growth owing to increasing funding from defense departments to develop exosuits for their arm forces. The segment will witness substantial increase in revenue and will acquire more than 26% of the overall industry by 2024.

Major Highlights from Table of contents are listed below for quick lookup into Exoskeleton Market report

Chapter 1. Competitive Landscape

  • Company market share
  • Exoskeleton Market Competitive analysis of key market players
  • Competitive analysis of other prominent vendors

Chapter 2. Company Profiles

  • Business Overview
  • Financial Data
  • Product portfolio
  • Strategic Outlook
  • SWOT Analysis

Chapter 3. Methodology & Scope

  • Methodology
  • Initial data exploration
  • Exoskeleton Market Statistical model and forecast
  • Industry insights and validation
  • Exoskeleton Market Scope
  • Definition
  • Methodology and forecast parameters
  • Data Sources

Chapter 4. Executive Summary

  • Exoskeleton industry 360º synopsis - 2025
  • Exoskeleton Business trends
  • Region trends

Chapter 5. Exoskeleton industry Insights

  • Exoskeleton Industry segmentation
  • Industry landscape 2025
  • Industry Pitfalls and Challenges
  • Threat of new entrants
  • Threat of substitutes
  • Exoskeleton Market Growth potential analysis

Request Customization on This Report @

About the author

Market Study Report

Market Study Report, LLC. is a hub for market intelligence products and services.

We streamline the purchase of your market research reports and services through a single integrated platform by bringing all the major publishers and their services at one place.

Our customers partner with Market Study Report, LLC. to ease their search and evaluation of market intelligence products and services and in turn focus on their company's core activities.

If you are looking for research reports on global or regional markets, competitive information, emerging markets and trends or just looking to stay on top of the curve then Market Study Report, LLC. is the platform that can help you in achieving any of these objectives.