According to IMARC Group’s latest report, titled “Exoskeleton System Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the global exoskeleton system market exhibited robust growth during 2015-2020 and is expected to grow at a CAGR of around 40% during 2021-2026.
An exoskeleton system refers to a wearable man-machine mechanism that provides mechanical strength to the user by amalgamating human intelligence and machine power. It comprises a wearable powered suit that enhances user safety and efficiency to perform particular tasks. It also employs algorithms that adjust and adapt to human body motions, along with various sensors and electrical connections that control the components. Exo-suits help lift heavy materials, reducing the user’s back muscles and spine stress. They also assist the elderly to walk and prevent fall-related injuries. As a result, these systems are extensively used across various healthcare, military, and industrial sectors.
The growing demand for exoskeletons in rehabilitation centers across the globe is driving the exoskeleton system market growth. Furthermore, the increasing adoption of motor-equipped robots to aid human body mechanics also contributes to the growth of the market. Moreover, the rising prevalence of heart strokes, spinal cord injuries, and paralysis propel the demand for these systems in the healthcare industry. Additionally, the increasing adoption of custom-fitted exoskeletons across military and industrial sectors also foster the global exoskeleton system market growth. They support multiple joints and identify human movements to provide appropriate responses of the exoskeleton actuators, further inducing the product demand in the industrial sectors.
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Exoskeleton System Market 2021-2026 Competitive Analysis and Segmentation:
The competitive landscape of the exoskeleton system market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
The report has segmented the global exoskeleton system market on the basis of component, type, mobility, body part, end use sector and region.
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Key highlights of the report:
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