Yahoo Finance Global Smart Exoskeleton Market (2021 to 2026) - by Component, Type, Product Type, Body Part, Application and Region
Dublin, Jan. 28, 2022 (GLOBE NEWSWIRE) -- The "Global Smart Exoskeleton Market, By Component (Actuators, Power Source, Control System, Sensors, Others), By Type (Rigid v/s Soft), By Product Type (Active v/s Passive), By Body Part, By Application, By Region, Competition, Forecast & Opportunities, 2026" report has been added to ResearchAndMarkets.com's offering.
The Global Smart Exoskeleton Market stood at USD 147.12 million in 2020 and is anticipated to grow at an impressive rate of around 9.94% during the forecast period.
This can be attributed to the growing prevalence of road accidents, spinal injuries, workplace/industrial injuries, strokes, among others. This has in turn increased the number of people suffering from physical disorders and neurological disorders requiring products for rehabilitation purposes. This has significantly increased the demand for different types of smart exoskeleton thereby, fueling the market growth.
Additionally, increasing demand from industrial sectors in order to prevent workplace injuries is further expected to boost the market growth. Also, the use of smart exoskeletons has significantly increased for military purposes especially in North American and European countries. Many aerospace & defense companies in these regions have started manufacturing smart exoskeletons for military purposes. This in turn is expected to create lucrative opportunities for the overall growth of the market in the next few years.
Smart exoskeleton market can be segmented based on component, type, product type, body part, application, region and company. On the basis of component, the market can be segmented into actuators, sensors, power source, control system, among others. In 2020, actuators dominated the market with an overall share of around 31.23% and the segment is expected to maintain its dominance during the forecast period since they improve the efficiency of the exoskeletons through control of errant motions.
Additionally, actuators form an integral part of different kinds of smart exoskeletons. Based on type, the market can be bifurcated into rigid exoskeleton and soft exoskeleton. Rigid exoskeleton is expected to dominate the market in 2020 since most of the exoskeletons available in the market are rigid. Also, they prevent any kind of injuries to the wearer during fall or injury in healthcare, military and industrial applications. However, soft exoskeletons are expected to witness significant growth during the forecast period owing to the increasing popularity of carbon fiber in making the soft exoskeletons. Also, an increase in the demand for soft exoskeletons is being observed from military and industrial purposes owing to their light weight.
Regionally, Asia Pacific is expected to witness the highest growth during the forecast period owing to the growing demand for industrial purposes from countries like China, Japan and South Korea. Additionally, in Japan, exoskeleton are being covered by insurance providers which clearly depict that a more widespread medical use is likely to occur over the next few years. Also, the use of smart exoskeletons has significantly increased for healthcare purposes. All these factors are expected to create lucrative opportunities for the market growth over the next few years.
The major players operating in the smart exoskeleton market include ATOUN Inc. (Panasonic), Cyberdyne, Inc., Ekso Bionics Holdings Inc., Myomo, Inc., ReWalk Robotics, Inc., Rex Bionics Ltd., Bionik Laboratories Corp., Lockheed Martin Corporation, Raytheon Company, Parker Hannifin Corp etc. Major companies are developing advanced technologies and launching new products in order to stay competitive in the market. Other competitive strategies include mergers & acquisitions and new product developments.
Objective of the Study:
To analyze and forecast the market size of the Global Smart Exoskeleton Market, in terms of value.
To classify and forecast the Global Smart Exoskeleton Market based on component, type, product type, body part, application and regional distribution.
To identify drivers and challenges for the Global Smart Exoskeleton Market.
To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in the Global Smart Exoskeleton Market.
To identify and analyze the profile of leading players operating in the Global Smart Exoskeleton Market.
Key Topics Covered:
1. Product Overview
2. Research Methodology
3. Impact of COVID-19 on Global Smart Exoskeleton Market
4. Voice of Customer
4.1. Brand Awareness
4.2. Factors Affecting Purchase Decision
4.3. Preferred Point of Purchase
5. Executive Summary
6. Global Smart Exoskeleton Market Outlook
6.1. Market Size & Forecast
6.1.1. By Value
6.2. Market Share & Forecast
6.2.1. By Component (Actuators, Power Source, Control System, Sensors, Others)
6.2.2. By Type (Rigid v/s Soft)
6.2.3. By Product Type (Active v/s Passive)
6.2.4. By Body Part (Upper body, Lower body, Full body)
6.2.5. By Application (Healthcare, Industrial, Military, Others)
6.2.6. By Company (2020)
6.2.7. By Region
6.3. Product Market Map
7. North America Smart Exoskeleton Market Outlook
8. Europe Smart Exoskeleton Market Outlook
9. Asia-Pacific Smart Exoskeleton Market Outlook
10. South America Smart Exoskeleton Market Outlook
11. Middle East and Africa Smart Exoskeleton Market Outlook
12. Market Dynamics
12.1. Drivers
12.2. Challenges
13. Market Trends & Developments
14. Competitive Landscape
14.1. ATOUN Inc. (Panasonic)
14.2. Cyberdyne, INC
14.3. Ekso Bionics Holdings Inc.
14.4. Myomo, Inc.
14.5. ReWalk Robotics, Inc.
14.6. Rex Bionics Ltd.
14.7. Bionik Laboratories Corp.
14.8. Lockheed Martin Corporation
14.9. Raytheon Company
14.10. Parker Hannifin Corp
15. Strategic Recommendations
16. About the Publisher & Disclaimer
For more information about this report visit https://www.researchandmarkets.com/r/mom4zn
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