What is Wearable Exoskeleton Market?
Wearable exoskeletons are defined as a devices that works in tandem with the user. It is placed on the user’s body. This exoskeletons plays essential role in enlarging, reinforcing and restoring human performance. Thus, it has widely demanded at number of rehabilitation centers, military sites and construction sites. As it is able to improve mobility independence, the preference for wearable exoskeletons has been raised at homes whereas its certain limitations is considered as one of the keen challenge for the market.
The market study is being classified by Type (Passive, Fixed/Stationary, Powered, Self-Balancing and Others), by Application (Rehabilitation, Injury Prevention, Sports, Paediatric Support, Pick and Carry and Others) and major geographies with country level break-up.
Parker Hannifin (United States), Hyundai Motor Group (South Korea), HumaniX (Belgium), Humotech(United States), CYBERDYNE, INC. (Japan), Marsi-Bionics (Spain), Mawashi Science & Technology (Canada), HUNIC GmbH (Germany), Ekso Bionics (United States), Hocoma (Switzerland), IUVO (Italy), ReWalk Robotics (United States), Hyetone (China), Kubota (Japan), Lockheed Martin (United States), Rex Bionics Pty Ltd. (New Zealand), Ski~Mojo (United Kingdom) and Myomo Inc. (United States) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are Innophys (Japan), InteSpring (Netherlands), Laevo B.V. (Netherlands) and MechLab (Italy).
Market players are focusing on providing Wearable Exoskeleton with higher quality along with complying all regulatory standards to fascinate more end users. They are also focusing on the introduction of numerous advanced & attractive features to reach a newer consumer base. The market is fragmented owing to the presence of several international and local providers. The high focus on the offering cost effective properties. Besides, the industry profitability has led the entry of new players, in turn, increasing the level of rivalry in the already competitive market. Research Analyst at AMA predicts that United States Players will contribute to the maximum growth of Global Wearable Exoskeleton market throughout the predicted period.
Segment Analysis
Analyst at AMA have segmented the market study of Global Wearable Exoskeleton market by Type, Application and Region.
On the basis of geography, the market of Wearable Exoskeleton has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Drivers
- Rising Incidence of Gait Disorders & Neurological Injuries
- Augmenting Focus on Improving Mobility Independence in Non-Ambulatory People
- Increasing Risk associated with Secondary Health Conditions (SHCs)
Market Trend
- Higher Preference for Wearable Exoskeleton in Construction Activities
Restraints
- Limitations associated with Picking Heavy & Bulky Devices
- Higher Investment Requirement
Opportunities
- Governments are Focusing on Enlarging Military Capacity with Adopting Wearable Exoskeletons for Soldiers
- Increasing Demand for Exoskeletons in Accidental Damages
- Technological Advancements with MI & Automation in Wearable Exoskeleton
Challenges
- Strengthened Regulatory Protocols
- Early Stages of Several Wearable Exoskeletons for Gait Rehabilitation
In January 2021, China revealed the powered exoskeletons suit for its military operations. It is mainly for portable ammunition support assist system for individual soldiers. With this initiatives, government has invested in strengthening military capacity by adopting wearable exoskeletons
Key Target Audience
Wearable Exoskeleton Manufacturers, Wearable Exoskeleton Suppliers/ Distributors/Vendors, Medical & Automotive Industrialist, Industrial Investors, Third Party Payable Providers, New Entrants/Investors, Government Information Technology Association, Wearable Robotics Association, American Spinal Injury Association (ASIA), International Spinal Cord Society (ISCoS) and Others