Axiom MRC has updated all it's market research reports with the Economic Impact Analysis of COVID19 Pandemic on the market. Our team of analyst are following Comprehensive Three Dimensional (3D) Research Methodology along with large number primary interviews with key industry participants to bring insightful market reports to meet the current market requirements.
A smart exoskeleton is a wearable mechanical device that increases limb strength through the use of electric motors, levers, hydraulics, and simulation software; these devices are designed to mimic the anatomy of human limbs, muscles, and joints so that users can engage in activities. Smart exoskeletons, along with advanced technology, identify and track the wearer's movements and provide assistance when needed. These exoskeletons were previously used for a variety of defense and military applications, but their use has recently expanded to include medical rehabilitation and mobility for people with paraplegia. These enable users with appropriate physical abilities to stand, walk, climb stairs and perform.
Increasing adoption of exoskeletons by people with physical disabilities and neurological disorders who require products for rehabilitation purposes are driving the market growth of smart exoskeleton market industry in the United States. The increasing demand from industry for the prevention of occupational accidents should also further stimulate market growth. In addition, the use of smart exoskeletons for military purposes, especially in country has increased significantly boosting the overall growth of market in the forecast period. Increased number of people suffering from physical disorders and neurological disorders that require products for rehabilitation purposes are propelling the growth of smart exoskeleton market in the country.
The exclusive COVID-19 impact analysis report by Axiom MRC provides a 360 degree analysis of micro and macro-economic factors on the United States smart exoskeleton market. In addition, complete analysis of changes on the United States smart exoskeleton market expenditure, economic and international policies on supply and demand side. The report also studies the impact of pandemic on United States economies, international trade, business investments, GDP and marketing strategies of key players present in the market. The COVID-19 impact on the United States smart exoskeleton market growth was slowdown due to the evolving coronavirus strains and imposed lockdown in the United States.
Smart exoskeleton market comprises of different market segments like by type, component, body part and application.
There are several types of smart exoskeletons on the market, such as soft exoskeletons and rigid exoskeletons. Rigid exoskeleton segment accounted the largest share of the overall exoskeleton market in the forecast period. The rigid exoskeleton’s have 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. The rigid exoskeleton contains a rigid and resistant set of components that fill functional roles to protect, sense, and support the individual. Also the soft exoskeleton segment is expected to grow at the fastest pace during the forecast period.
By component, the smart exoskeleton market includes key segment of sensor, actuators, power source, and control system. The actuators segment is expected to lead the market and the segment and is assumed to maintain its dominance during the forecast period since they improve the efficiency of the exoskeletons through control of errant motions. As the actuators form an integral part of different kinds of smart exoskeletons. Passive exoskeletons rely on sources of energy to increase a person's movement. Sensors provide the necessary feedback to help an exoskeleton stay balanced, and of course a smart exoskeleton control system for the best control, stability and safety performance are other important aspects to consider.
By body part the smart exoskeleton is bifurcated in upper body, lower body, full body. The lower body segment is expected to dominate and hold major market share in the forecast period due to the increasing prevalence of lower body disabilities as it provide mobility to physically disabled, injured or weak persons, who are unable to walk due to neurological disorders. Also the upper body extremity segment is anticipated to register the fastest growth rate during the forecast period as the upper limb disorders include aches and pains in the shoulders, arms, wrists, hands and fingers, as well as in the neck the upper body exoskeletons helps in managing activities of daily living among the disabled patient.
The smart exoskeleton market finds its application in industrial, healthcare, military. The healthcare segment dominates the market due to rising demand from the healthcare sector due to increased accident cases that causes severe spinal cord injuries and neurological disorders. The increasing demand from industry for the prevention of occupational accidents should also further stimulate market growth. . Also the use of smart exoskeletons has significantly increased for military purposes especially in Unites States.
The key players in smart exoskeleton market are ATOUN Inc., Bionik Laboratories Corp., Cyberdyne, Inc., Ekso Bionics, Honda Motor Co. Ltd., ReWalk Robotics, Rex Bionics Ltd., Sarcos Corp., Technaid. S.L., US Bionics Inc., Wearable Robotics srl, Fourier Intelligence, AXOSUITS SRL, Lockheed Martin Corporation.
May 2019, Alibaba partnered with Bottos to develop a smart exoskeleton robot to reduce the physical pressure of workers, thereby improving efficiency. The smart robot uses artificial intelligence and human-machine collaboration technology to carry out manual operations, such as picking, sorting, storing, loading, and unloading, in the warehousing and logistics industry.
March 2019, German Bionic launched a connected robot exoskeleton for use in the industrial Internet of Things (IIoT). The German Bionic IO cloud platform integrated with the Cray X exoskeleton supports common enterprise solutions and networked manufacturing systems, thereby enabling complete integration with smart factory and Industry 4.0 environments.
March 2019, Ottobock has launched Paexo Thumb, an exoskeleton for operations in ergonomic workplaces. The exoskeleton is small and extremely lightweight, which can be used for clipping, inserting, or plugging components on assembly lines; it can be used for relieving the strain on the joints of the thumb.
The report analyses the smart exoskeleton market based on by type, component, body part and application. There are several types of smart exoskeletons on the market, such as soft exoskeletons and rigid exoskeletons. Rigid exoskeleton segment accounted the largest share of the overall exoskeleton market in the forecast period. The rigid exoskeleton’s have huge demand from military and industrial sector. By component, the smart exoskeleton market includes key segment of sensor, actuators, power source, and control system. The actuators segment is expected to lead the market and the segment and is assumed to maintain its dominance during the forecast period since they improve the efficiency of the exoskeletons through control of errant motions. By body part the smart exoskeleton is bifurcated in upper body, lower body, full body. The lower body segment is expected to dominate and hold major market share in the forecast period due to the increasing prevalence of lower body disabilities as it provide mobility to physically disabled person. The smart exoskeleton market finds its application in industrial, healthcare, military. The healthcare segment dominates the market due to rising demand from the healthcare sector due to increased accident cases that causes severe spinal cord injuries and neurological disorders.
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