What is Smart Exoskeleton?
Due to the growing need to provide protection to the animal as well as human organs the demand for smart exoskeleton has been increased robustly across the globe. In addition to this, continues developments in the smart exoskeletons, as well as growing healthcare infrastructure, has fueled the demand for the smart exoskeleton. Smart exoskeletons are the electronically powered devices which improves the user movements and safety with respect to their respective tasks. These devices automatically controls human body motions and helps in attaining maximum performance. Moreover, continues research and development will further escalate the demand over the forecasted period.
The market study is broken down by Type (Soft Exoskeleton and Rigid Exoskeleton) and major geographies with country level break-up. and may see market size of USD1.92 Billion by 2026.
The Players having a strong hold in the market are Atoun Inc., Bionik Laboratories Corp., Ekso Bionics, Cyberdyne, Inc., and ReWalk Robotics Ltd.. Analysts at AMA Research estimates that Players from United States and Japanese will contribute to the maximum growth of Global Smart Exoskeleton market throughout the predicted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Atoun Inc. (Japan), Bionik Laboratories Corp. (Canada), Ekso Bionics (United States), Cyberdyne, Inc. (Japan), ReWalk Robotics Ltd. (Israel), Honda Motor Co. Ltd. (Japan), Sarcos Corp. (United States), Rex Bionics Ltd. (New Zealand), Technaid. S.L. (Spain) and US Bionics, Inc. (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are ActiveLink (Panasonic Corporation), Lockheed Martin Corporation (United States), RB3D (France) and Hocoma (Switzerland).
Segmentation Overview
AdvanceMarketAnalytics has segmented the market of Global Smart Exoskeleton market by Type, Application and Region.
On the basis of geography, the market of Smart 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). Europe region held largest market share in the year 2020. North America on the other hand stood as second largest market due to the presence of key companies into the region and high technological advancement. If we see Market by Technology, the sub-segment i.e. Pneumatic Actuator will boost the Smart Exoskeleton market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End User, the sub-segment i.e. Industrial will boost the Smart Exoskeleton market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
On 12th February 2019, airport ground services from Japan, ‘JAL Ground Service Co. Ltd. (JGS)’ and a global wearable robotic devices provider, ‘ATOUN Inc.’ has announced that JGS will purchase and implement the innovative gear to support airport personnel. JGS announced an order for 20 “ATOUN MODEL Y” gear, distributing 10 to Haneda airport and 10 to Narita airport.
The international safety regulatory requirements (published by ISO/IEC) for medical and non-medical exoskeletons are different and must be complied with for successful commercialization. For medical exoskeletons, such regulations are still underdeveloped by the joint working group IEC SC62D and ISO TC299 JWG36 (medical robots for rehabilitation). On the other hand in case of non-medical exoskeletons, ISO TC299 WG2 (personal care robot safety) has produced and published the safety requirements for physical assistant robots (restraint and restraint-free types).
Market Trend
- Rising Demand for Smart Exoskeleton in Gait Rehabilitation
- Increasing Adoption Fully Mechanical and Artificially Intelligent Exoskeleton
Market Drivers
- Provides Better Protection to the Animal Organs and Provides Excellent Survival Strategy
- Growing Adoption of Industrial Body Parts
Opportunities
- Growing Geriatric Population across the Globe
- Robust Research and Developing leading to Continues Product Developments
Restraints
- Higher Initial Investments Leading to Hamper Business Growth
- Complex Post Purchase Repair and Maintenance
Challenges
- Skilled Workforce Required for Product Development and Installation
- Negligible Manufacturing Tolerance will Maximize Complexities
Key Target Audience
Smart Exoskeleton Manufacturers, Smart Exoskeleton Distributors and Traders, Healthcare Technology Industry Associations, Government Regulators, Military and Defense Organizations, Upstream and Downstream Buyers and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have the better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with purpose to understand companys positioning regarding market value, volume and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders etc. and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, analyst team keeps preparing set of questionnaires and after getting appointee list; the target audience are then tapped and segregated with various mediums and channels that are feasible for making connection that includes email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey etc.