Exoskeleton Market Trends

Growth Drivers

• Growing Prevalence of Emergency Situation

In accordance with the Emergency Event Database EM-DAT, 387 natural disasters, and hazards took place around the world in 2022, claiming 30,704 deaths and affecting 185 million people. In emergency and rescue situations, robotics may be used in a variety of ways. A robotic exoskeleton could undoubtedly assist in the actual rescue by transporting supplies, rescuing individuals from hazardous circumstances, or just offering information about the circumstance.

• Rise in the Use of Exoskeleton for Industrial Use

Exoskeletons are employed in factories to aid employees with painting. To lower tiredness and improve production, the exoskeleton enables the worker to utilize their arms with greater efficiency. Exoskeleton technology has also been shown to help welders maintain better posture and reduce muscular fatigue, which may result in fewer injuries and more production.

• Surge in Preference for this Product by Military

There has been growing interest from the military from all over the world in deploying exoskeleton owing to their various advantages. Exoskeleton come equipped with sensors that let soldiers maintain tabs on their health while wearing them. Additionally, it enables communication via voice instructions & hand gestures and reduces heat loss during nighttime operations by generating electricity using body heat via thermoelectric implants.

Challenges

• High Cost of Robotic Exoskeleton
• Limited Range of Power - They are currently equipped with a restricted range of mobile power supplies, which makes it difficult to move them about and causes their battery life to deplete rapidly. Hence, this factor is set to limit the market demand.
• Motion Range is Limited