Global Smart Exoskeleton Market 2020 (Includes Business Impact of COVID-19)

                                          
“Global Smart Exoskeleton Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028” is a recent report generated by Trusted Business Insights. The global smart exoskeleton market report has been segmented on the basis of component, type, application, and region.

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Global Smart Exoskeleton Market: Overview

Smart Exoskeletons is called as powered armor, wearable machine, robotic suit, power jacket and exo-frame or exosuit. Exoskeletons is the external skeleton that supports and protects and human body as well as it is used to increase human abilities. Smart exoskeletons are wearable devices that work with the user. Exoskeletons is generally made up of rigid materials such as metal, carbon fiber, and elastic parts. Exoskeletons can be mobile or fixed depending upon the application, it varies. In addition, another application of smart exoskeleton is it aids in improving the quality of patients and enable system assisted walking of motor controls lost due to accidental injury or illness.

Global Smart Exoskeleton Market: Dynamics

Rising incidences people suffering from various types of physical disabilities and neurological disorders are key factors expected to drive the growth of the target market over the forecast years. In addition, increasing geriatric population, rising incidences of elderly population fall-related injuries, growing demand for minimally invasive procedures, are some other factors driving the growth of the market over the next ten years.

However, high cost of smart exoskeleton and stringent government regulation about exoskeleton Are major factors expected to hamper the growth of the target market to a certain extent.

The major manufacturers are focuses on receiving FDA and pother regulatory authority approvals for their products in order to market its product in different regions globally. The aforementioned are some key trends witnessed in the target market.

For instance, In January 2018, Cyberdyne Inc., which is the japan based robotics company received approval from the US Food and Drug Administration and launched Hybrid Assistive Limb lower-body exoskeleton to users in the US through licensed medical facilities.

Global Smart Exoskeleton Market: Segment Analysis

On the basis of type segment, soft exoskeleton is expected to hold the largest revenue share owing to rising adoption of soft exoskeleton for enhancing assistance to specific body parts or the entire body. On the basis of application segment, healthcare segment is expected to witnessed largest revenue share over the forecast period. This is primarily to, increasing application of exoskeleton for numerous application in healthcare sector.

Global Smart Exoskeleton Market: Regional Analysis

In 2018, the markets in North America is anticipated to account for largest revenue share in the target market. This is primarily attributed to rising incidences of neurological disorder as well as higher healthcare and personal care expenditure in countries in the region. The market in Asia Pacific is expected to anticipated highest CAGR, due to rising demand for exoskeletons for medical purposes. In addition, countries such as, Japan, Singapore, and China are involved in rapid development of exoskeleton related technologies as well as are receiving funding from private and public sectors, are some of the factors expected to support the growth of the market in Asia Pacific region.

Global Smart Exoskeleton Market Segmentation:

Segmentation by component:

Sensors
Actuators
Power Source
Control System
Others

Segmentation by type:

Soft Exoskeleton
Rigid Exoskeleton

Segmentation by application:

Industrial
Healthcare
Military