The increased need for advanced robotic technologies will accelerate the global exoskeleton market, with revenues reaching $2.6 billion by 2025, according to Omdia
Exoskeleton technology is being utilized in multiple sectors to improve productivity and employee health and in response to an aging population of workers. Industrial and enterprise use cases are increasing and numerous startups are selling and developing exoskeletons for rehabilitation and other healthcare uses. According to new research from Omdia, the outlook for exoskeletons is for strong sustained growth through 2025.
The combination of new products, technology innovation, and ongoing governmental approvals will stimulate exoskeleton adoption. The healthcare sector presents the greatest opportunity for growth in the near term, while the military sector will likely be a lucrative market when militaries complete their exoskeleton pilot tests and begin to purchase numerous units for ground troops. Other segments will also show growth as enterprises look for solutions to assist with COVID-19 challenges.
According to Omdia senior analyst, Glenn Sanders, “In the near term, expect the market to expand for industrial use cases, especially for enterprise applications in warehouse & logistics, material handling, and shipping due to the COVID-19 outbreak as companies try to do more with fewer workers.” Omdia expects the overall exoskeleton market to grow from $316.1m in 2019 to $2.6bn by 2025.
Omdia’s report, “Exoskeletons”, discusses the crucial market drivers, challenges, and industry applications, in addition to assessing the most important technology issues that will influence market development.
Omdia profiles the top 16 industry players, organized by exoskeleton type. Market forecasts, segmented by exoskeleton type, market, and geographic region, extend through 2025. An Executive Summary of the report is available for free download on the firm’s website.
