Global Wearable Robots & Exoskeletons Market: Growth, Trends & Forecasts (2019-2024) - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Nov 13, 2019--
The “Wearable Robots and Exoskeletons Market - Growth, Trends, and Forecast (2019 - 2024)” report has been added to ResearchAndMarkets.com’s offering.
The wearable robots and exoskeletons are expected to record a CAGR of 22.17% over the forecast period (2019-2024).
The wearable robots and exoskeletons continue to evolve. The medical sector has adopted exoskeleton technologies for rehabilitation therapy and geriatric support. However, the market is gaining traction in the defense and other industries.
Wearable robots and exoskeletons are used to assist in personal mobility. They encourage upright walking and relearning of lost functions for stroke patients and people who are paralyzed. Exoskeletons deliver high-quality rehabilitation, thus, providing the base for a growth strategy for clinical facilities.
Wearable robots and exoskeletons are designed for supporting manual labor tasks in construction sites, for factory labor, in warehouses. In the manufacturing sector, exoskeletons offer various advantages, like reduction in work-related injuries, lower work fatigue, thus, increasing productivity and work quality. For instance, companies such as Ford are performing a trial by using exoskeletons. Based on its success, the company adopted the EksoVest (an exoskeleton that elevates and supports the arms of workers performing repeated overhead tasks) at 15 of its plants. EksoVests reduced workplace injuries by 83% during the course of the trial period.
Exoskeletons have become much more sophisticated. Advances in robotics and artificial intelligence have added many functionalities. Companies such as LG, in 2018 launched an exoskeleton, CLOi SuitBot to help workers take the load off their legs. The exoskeleton is powered by AI. By using AI, it learns and gets effective by analyzing the user’s movements. It also manages the power efficiency of this wearable robot.
Key Market Trends
Military & Defense is Expected to Hold a Significant Share
Asia-Pacific is Expected to Experience a Rapid Growth
The wearable robots and exoskeletons market is marked with high competition and consists of several players. The market potential is also attracting a lot of startups that are investing in the market, thus, intensifying the competition. Many companies are increasing their market presence by introducing new products, expanding their operations, or by entering into strategic mergers and acquisitions.
Key Topics Covered
1.1 Study Assumptions
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Demand for Robotic Rehabilitation in Healthcare Industry
4.2.2 Growing Investment in the Development of the Exoskeleton Technology
4.3 Market Restraints
4.3.1 High Cost of the Equipment
4.4 Industry Attractiveness - Porter’s Five Force Analysis
5 MARKET SEGMENTATION
5.1 By Type
5.1.1 Powered Exoskeletons
5.1.2 Passive Exoskeletons
5.2 By End-user Industry
5.2.2 Military & Defense
5.2.4 Other End-user Industries
5.3.1 North America
5.3.4 Rest of the World
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Cyberdyne Inc.
6.1.2 ReWalk Robotics Inc.
6.1.3 Ekso Bionics Holdings Inc.
6.1.4 Sarcos Corporation
6.1.5 Honda Motor Co. Ltd.
6.1.6 Hocoma AG (DIH International Ltd.)
6.1.7 Lockheed Martin Corporation
6.1.8 Technaid. S.L.
6.1.10 ATOUN Inc.
7 INVESTMENT ANALYSIS
8 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/9sx8ty
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INDUSTRY KEYWORD: TECHNOLOGY CONSUMER ELECTRONICS
SOURCE: Research and Markets
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PUB: 11/13/2019 10:09 AM/DISC: 11/13/2019 10:09 AM