London, Feb. 13, 2020 (GLOBE NEWSWIRE) -- According to a new market research report “Exoskeleton Market by Product Type (Soft and Rigid), Power Type (Powered and Passive), Body Type (Complete Body, Upper and Lower Extremities), Mobility (Stationary and Mobile), and End-Use Industry (Industrial, Military, Healthcare)- Global Forecast to 2027”, published by Meticulous Research^®, the exoskeleton market is expected to grow at a CAGR of 54.5% from 2019 to reach $26.9 billion by 2027.

Exoskeletons are wearable devices that work in tandem with the user and act as amplifiers that augment, reinforce or restore human performance. Exoskeletons can also be referred to as robotic suit, powered armour, exo-frame or exo-suit, wearable machine, and power jacket, among others. The growth in the exoskeleton market is majorly propelled by the growing demand from the healthcare sector for orthopedic rehabilitation, increasing prevalence of stroke, and growing investment of the military & defense sector in the exoskeletons.

Download Free Sample Report Now @ https://www.meticulousresearch.com/download-sample-report/cp_id=5010

The global exoskeleton market study presents historical market data in terms of values (2017 and 2018), estimated current data (2019), and forecasts it for 2027- by product type (soft & rigid), power type (powered & passive), body type (complete body, upper extremities & lower extremities), end-use industry (industrial, military, healthcare & others), mobility (stationary & mobile), and by geography. The study also evaluates industry competitors and analyses their market share at the global and regional level.

Based on product type, the rigid exoskeleton segment accounted for the largest share of the overall exoskeleton market in 2019. The large share of this segment is mainly attributed to the rigid exoskeleton’s huge demand from military and industrial sector owing to its high strength and load bearing capacity as well as its ability to offer protection against physical damage and abrasion. However, the soft exoskeleton segment is expected to grow at the fastest CAGR during the forecast period.

Based on mobility, the mobile exoskeletons segment commanded the largest share of the overall exoskeleton market in 2019. The growth of this segment is attributed to the fact that mobile exoskeletons enable free body movement and are extensively used in the industrial & military verticals to support body movement and reduce fatigue.

Based on the end-user, the healthcare segment commanded the largest share of the overall exoskeleton market. All the major regions across the globe are witnessing significant growth in their geriatric populations, and this trend is expected to continue in the coming years as well, which will create more demand for exoskeletons in the healthcare industry, thereby driving the growth of the exoskeleton market for healthcare. However, the industrial segment is slated to grow at the fastest CAGR during the forecast period. The fast growth of this segment is attributed to the fact that a large number of companies are developing exoskeletons for a variety of industrial usage and several users have started adopting exoskeletons for the industrial applications.

Geographically, the exoskeleton market scope varies greatly across different continents. The reason for this lies in the rate of technological developments in different parts of the world. With respect to revenue, North America is currently the most dominant market and is expected to retain its higher share throughout the forecast period. A large share of this region is due to well-established infrastructure for technology & education in the region and a higher adoption rate for the advanced technologies. Furthermore, the factors such as growing geriatric population; advent of robotic technologies; growing purchasing power of patients and increased investment towards exoskeleton technology; and the presence of majority of established exoskeleton players and start-ups have bolstered the market growth in the North American region. However, Asia Pacific region will experience the higher growth rate during the forecast period, owing to the factors such as growing geriatric population and increasing prevalence of stroke & SCIs, presence of large pool of patients, increasing disposable income, and availability of government funding.

Have Any Query? Ask Our Experts: https://www.meticulousresearch.com/speak-to-analyst/cp_id=5010

The report also includes an extensive assessment of the key strategic developments adopted by the leading market participants in the industry over the past 4 years (2016-2019). The exoskeleton market has witnessed a number of partnerships & agreements in the recent years. For instance, in March 2019, Ectron Corporation announced a partnership with Ekso Bionics, Inc. As a result of this partnership, Ectron Corporation will be working closely with Ekso Health delivering Eksokeleton technology to the U.K. for stroke and spinal cord injury rehabilitation. Similarly, in December 2018, Bionik Laboratories Corporation announced a multi-year purchase agreement and ongoing relationship with Kindred Hospital Rehabilitation Services for InMotion Arm™ Robotic Systems.

The global exoskeleton market is consolidated and dominated by few major players, namely ReWalk Robotics Ltd. (Israel), Lockheed Martin Corporation (U.S.), Parker Hannifin Corporation (U.S.), Ekso Bionics Holdings, Inc. (U.S.), Hyundai Motor Company (South Korea), Bionik Laboratories Corporation (U.S.), Myomo, Inc. (U.S.), Honda Motor Co. Ltd. (Japan), Technaid. S.L. (Spain), Gogoa Mobility Robots SL (Spain), Suitx Inc. (U.S.), Otto Bock HealthCare GmbH (Germany), Wearable Robotics SRL (Italy), DIH Technologies Corporation (Switzerland), and B-Temia Inc. (U.S.), among others.

To gain more insights into the market with a detailed table of content and figures, click here: https://www.meticulousresearch.com/product/exoskeleton-market-5010/

Scope of the Report:

Market by product type

• Soft
• Rigid

Market by Power Type

• Powered
• Passive

Market by Body Type

• Complete Body
• Upper Extremities
• Lower Extremities

Market by End-Use Industry

• Industrial
• Military
• Healthcare
• Others

Market by Mobility

• Mobile
• Stationary

Market by Geography:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • France
  • U.K.
  • Italy
  • Spain
  • Rest of Europe
• Asia-Pacific
  • Japan
  • China
  • India
  • Rest of Asia-Pacific
• Latin America
• Middle East & Africa

Download Free Sample Report Now @ https://www.meticulousresearch.com/download-sample-report/cp_id=5010

Related Reports:
Wearable Devices Market by Product Type (Smartwatch, Earwear, Eyewear, and others), End-Use Industry (Consumer Electronics, Healthcare, Enterprise, and Industrial, Media and Entertainment), Connectivity Medium, and Region - Global Forecast to 2025

Collaborative Robots Market by Component (Software, Hardware), Payload Capacity (Up to 5 Kg, between 5 and 10kg, above 10kg), Application (Assembly, Pick and Place, Material Handling), End-Use Industry (Automotive, Electronics, Metals, and Machining) and Geography - Global Forecast to 2025

Automotive IoT Market by Platform (Data Management), Component (Sensor, GPS, Bluetooth, Wi-Fi), Data Converter (ADC), Connectivity (Embedded), End User (OEM), Application (ADAS, Fleet Management, Infotainment) – Global Forecast to 2025

Edge Computing Market by Application (Smart Cities, Industrial IoT, Remote Monitoring, Content Delivery, AR VR), Industry (Manufacturing, Retail, Healthcare, Media, Telecommunications, Logistics, Government, Energy, Utilities) - Global Forecast to 2027

Digital Twin Market by Type (Asset, Process, System), Technology (Internet of Thing, Artificial Intelligence, Big Data Analytics, AR VR), End User (Automotive, Transport, Healthcare, Construction, Manufacturing, Retail) - Global Forecast to 2025

Meticulous Research® also offers Custom Research services providing focused, comprehensive and tailored research.

About Meticulous Research®

The name of our company defines our services, strengths, and values. Since the inception, we have only thrived to research, analyze and present the critical market data with great attention to details.

Meticulous Research® was founded in 2010 and incorporated as Meticulous Market Research Pvt. Ltd. in 2013 as a private limited company under the Companies Act, 1956. Since its incorporation, with the help of its unique research methodologies, the company has become the leading provider of premium market intelligence in North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa regions.

With the meticulous primary and secondary research techniques, we have built strong capabilities in data collection, interpretation, and analysis of data including qualitative and quantitative research with the finest team of analysts. We design our meticulously analyzed intelligent and value-driven syndicate market research reports, custom studies, quick turnaround research, and consulting solutions to address business challenges of sustainable growth.