Research Nester assesses the growth and market size of the global robotic exoskeleton market which is anticipated to be on account of the growth in the number of people suffering from spinal cord injuries.
New York – July 12, 2023- Research Nester’s recent market research analysis on “Robotic Exoskeleton Market: Global Demand Analysis & Opportunity Outlook 2035” delivers a detailed competitors analysis and a detailed overview of the global robotic exoskeleton market in terms of market segmentation by product, mobility, technology, end user, and by region.
Growth in the Use of Robotic Exoskeletons for Industrial Use to Boost the Growth of the Global Robotic Exoskeleton Market
The global market for robotic exoskeletons is anticipated to grow on account of growth in the use of robotic exoskeletons for industrial use. Exoskeletons are used in factories to help workers paint. The exoskeleton allows the worker to use their arms more effectively, which reduces fatigue and boosts output. Exoskeleton technology has also been demonstrated to assist welders in maintaining better posture and lowering muscular fatigue, which could lead to fewer accidents and increased output.
Additionally, as technology advances, the characteristics of what they are composed of and their potential applications have an impact on the need for robots. Electrical and electronic engineering is a subject that is constantly researching and developing new materials, sensors and actuators, control systems, and software technologies. These state-of-the-art components have made it easier to create exoskeletons that are better, more effective, lightweight, less complicated, portable, and self-powered.
Some of the major growth factors and challenges that are associated with the growth of the global robotic exoskeletons market are:
Growth Drivers:
• Rising Prevalence of Emergency Situation
• Growth in Preference for this Product by Military
Challenges:
Powered lower-limb exoskeletons have made significant breakthroughs, but users still have trouble navigating sloped or slippery surfaces. Users turning while carrying objects risk becoming fatigued quickly, which could lead to undesirable occurrences including skin and tissue damage and bone fractures since the prototypes are not yet able to handle twisting motions. Since of the enormous power output of the actuators used in such devices, regulatory organizations have devised a highly strict approval process for them in order to ensure wearer safety.
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By technology, the market for robotic exoskeleton is segmented into powered and passive. Out of these segments, the powered segment is poised to have the largest revenue by the end of 2035. However, the passive segment is also anticipated to grow. Exoskeletons that are passive are best used in industrial settings to help people move big objects by enhancing their physical strength. Exoskeletons often cost less and weigh less than powered gadgets. In order to strengthen a person's physical strength so they could carry large objects, the industrial vertical is seeing a quick rise in the demand for passive exoskeletons, which is likely to lead to a rise in their use during the forecast period.
By region, the Europe market for robotic exoskeleton is estimated to grow over the forecast period. One of the main factors fueling market expansion is the increase in the acceptance rate of human augmentation in the military and industrial sectors in this region. The market for exoskeletons is also being driven by factors including the rise in the number of impaired persons and the expanding need for robotic rehabilitation in the healthcare industry in Europe. Additionally, the market for exoskeletons would grow at a faster rate owing to increased technological advancements and increased investment in Europe.
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This report also provides the existing competitive scenario of some of the key players of the global robotic exoskeleton market which includes company profiling of Myomo, Inc., Bionik, ATOUN Inc., Cyberdyne Inc., Lockheed Martin Corporation, Parker Hannifin Corporation, Mitsubishi Heavy Industries Ltd., Ekso Bionics, Daiya Industry Co. Ltd., B-Temia, and others.
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