Global Exoskeleton Robots Market to Reach $2.1 Billion by 2026

SAN FRANCISCO, June 4, 2021 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Exoskeleton Robots - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.

FACTS AT A GLANCE
Edition: 7; Released: March 2021
Executive Engagements: 2798
Companies: 101 - Players covered include Cyberdyne, Inc.; Ekso Bionics; Hocoma AG; Honda Motor Co., Ltd.; Lockheed Martin Corporation; Panasonic Corporation; Parker Hannifin Corporation; Rewalk Robotics Ltd.; Rex Bionics Ltd.; Toyota Motor Corporation and Others.
Coverage: All major geographies and key segments
Segments: End-Use (Healthcare, Industrial, Other End-Uses)
Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; and Rest of Europe); Asia-Pacific; Rest of World.

Complimentary Project Preview - This is an ongoing global program. Preview our research program before you make a purchase decision. We are offering a complimentary access to qualified executives driving strategy, business development, sales & marketing, and product management roles at featured companies. Previews provide deep insider access to business trends; competitive brands; domain expert profiles; and market data templates and much more. You may also build your own bespoke report using our MarketGlass™ Platform which offers thousands of data bytes without an obligation to purchase our report. Preview Registry

ABSTRACT-

Global Exoskeleton Robots Market to Reach $2.1 Billion by 2026
Robotic exoskeletons are wearable ambulatory machines that rely on mechanical structures, rotors, levers and hydraulics to move stiff body parts and help users in performing routine tasks with high endurance and strength. These external skeletons use artificial intelligence and sensors to detect bio-neurotic signals from the brain and trigger the frame to move in line with specific instructions like sitting, standing or lifting an object. Growth in the global market is being driven by increasing applications across diverse industries, rising geriatric population, technological innovations and broader scope in the military and healthcare sectors. These suits are anticipated to find extensive adoption in healthcare applications and benefit from increasing number of rehabilitation centers. Against the backdrop of strict social distancing measures and travel restrictions to curb spread of the coronavirus, the combination of worker shortage and exponential growth of the e-commerce sector has created a strong demand for advanced tools across diverse industries to boost productivity while ensuring worker safety. The requirement has played an important role in driving the adoption of powered, full-body exoskeletons for production units, construction sites and other complex environments.

Amid the COVID-19 crisis, the global market for Exoskeleton Robots estimated at US$647.1 Million in the year 2020, is projected to reach a revised size of US$2.1 Billion by 2026, growing at a CAGR of 21.2% over the analysis period. Healthcare, one of the segments analyzed in the report, is projected to grow at a 20.8% CAGR to reach US$1.2 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Industrial segment is readjusted to a revised 23.1% CAGR for the next 7-year period. This segment currently accounts for a 30.4% share of the global Exoskeleton Robots market. Healthcare continues to be the primary end-use application segment of the robotic exoskeletons market as a result of increasing adoption of these suits by seniors and people with mobility disorders. Rising acceptance of exoskeletons in rehabilitation centers coupled with increasing incident of spinal cord injuries and associated treatments are bolstering the healthcare segment.

The U.S. Market is Estimated at $319.6 Million in 2021, While China is Forecast to Reach $255.8 Million by 2026
The Exoskeleton Robots market in the U.S. is estimated at US$319.6 Million in the year 2021. The country currently accounts for a 43.07% share in the global market. China, the world's second largest economy, is forecast to reach an estimated market size of US$255.8 Million in the year 2026 trailing a CAGR of 25.4% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 16.9% and 19.2% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 21% CAGR while Rest of European market (as defined in the study) will reach US$305.6 Million by the end of the analysis period. Growth in North America region is being driven by major contribution from the US, rising aging population and high purchasing power of people. The market demand is propelled by increasing cases of spinal cord injury and stroke along with associated disabilities. Increasing awareness about these options and regulatory approval for medical exoskeletons are poised to fuel demand, while increasing number of rehabilitation centers to serve people with spinal cord injuries, stroke, traumatic brain surgeries, cerebral palsy and multiple sclerosis are expected to bolster the market. Improvements in healthcare infrastructure, a massive patient pool and government funding for medical devices are the major factors fueling growth in the Asia-Pacific region.

By End-Use, Industrial Segment to Reach $714 Million by 2026
The Industrial segment is gaining from increasing cases of workplace injuries and rising awareness regarding various merits of using exoskeletons in industrial applications. The increasing demand for advanced products to empower workers in different sectors like manufacturing, construction and distribution is poised to benefit the industrial segment. In the global Industrial segment, USA, Canada, Japan, China and Europe will drive the 22% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$167.4 Million in the year 2020 will reach a projected size of US$699.6 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$70.2 Million by the year 2026. More

MarketGlass™ Platform
Our MarketGlass™ Platform is a free full-stack knowledge center that is custom configurable to today`s busy business executive`s intelligence needs! This influencer driven interactive research platform is at the core of our primary research engagements and draws from unique perspectives of participating executives worldwide. Features include - enterprise-wide peer-to-peer collaborations; research program previews relevant to your company; 3.4 million domain expert profiles; competitive company profiles; interactive research modules; bespoke report generation; monitor market trends; competitive brands; create & publish blogs & podcasts using our primary and secondary content; track domain events worldwide; and much more. Client companies will have complete insider access to the project data stacks. Currently in use by 67,000+ domain experts worldwide.

Our platform is free for qualified executives and is accessible from our website www.StrategyR.com or via our just released mobile application on iOS or Android

About Global Industry Analysts, Inc. & StrategyR™
Global Industry Analysts, Inc., (www.strategyr.com) is a renowned market research publisher the world`s only influencer driven market research company. Proudly serving more than 42,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for over 33 years.

CONTACTS:
Zak Ali
Director, Corporate Communications
Global Industry Analysts, Inc.
Phone: 1-408-528-9966
www.StrategyR.com 
Email: [email protected] 

LINKS
Join Our Expert Panel
https://www.strategyr.com/Panelist.asp 

Connect With Us on LinkedIn
https://www.linkedin.com/company/global-industry-analysts-inc./ 

Follow Us on Twitter
https://twitter.com/marketbytes 

Journalists & Media
[email protected]

SOURCE Global Industry Analysts, Inc.

Related Links

http://www.strategyr.com