A detailed overview of Soft Exoskeleton market with respect to the pivotal drivers influencing the revenue graph of this business sphere. The current trends of Soft Exoskeleton market in conjunction with the geographical landscape, demand spectrum, remuneration scale, and growth graph of this vertical have also been included in this report.
Technological developments in the soft exosuits, including the incorporation of machine learning algorithms for controlling different parameters are positively influencing business expansion. For instance, the Wyss Institute and Harvard John A. Paulson School of Engineering and Applied Sciences are collaborating on a ?human-in-the-loop optimization? project that utilizes real-time measurements of human physiological signals for directing exosuits and delivering assistive force to the users? body parts.
Industry participants along with multiple educational research institutions are actively capitalizing in R&D to present innovative solutions for customers. For instance, in May 2016, ReWalk Robotics collaborated with Wyss Institute of Harvard University. This collaboration facilitated the firms to develop designs and concepts of lightweight exoskeleton system technologies aimed at lower limb disabilities, propelling the soft exoskeleton market growth of over the study timeframe.
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Increasing popularity of exoskeletons coupled with technological advancements in soft wearables are driving the soft exoskeleton market over the forecast timeframe. Upsurge in the usage of soft exoskeletons across the military, healthcare, and industrial sectors along with numerous advantages offered are further supporting the business growth over the projected timeframe. Improvements in motors and actuators for powering the exosuits including improved battery capacity & power and the incorporation of advanced sensors will contribute significantly towards the soft exoskeleton market expansion till 2025.
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Additionally, Europe CE certifications, China Food and Drug Administration (CFDA), and Japanese Ministry of Health, Labor, and Welfare (MHLW) have developed stringent regulations for the usage of soft exoskeletons in industrial and healthcare sectors. These regulations and safety parameters will induce improved confidence in customers and will contribute significantly toward the soft exoskeleton market expansion till 2025.
Upper & lower body segment dominated the soft exoskeleton market accounted for over USD 700 thousand in 2018. Increasing usage for rehabilitation of disabled patients caused by stroke or spinal injuries will enhance the segment dominance. For instance, in 2017, Wyss Institute of Harvard University developed upper and lower limb soft exoskeletons for assisting patients with rehabilitation owing to limited mobility disabilities.
Supporting regulations and standards are playing a significant role in augmenting the soft exoskeleton market share till 2025. For instance, in 2017, American Society for Testing and Materials formed a Committee F48 for addressing concerns related to the design and manufacturing, maintenance & disposal, human factors and ergonomics, security and information technology, and task performance and environmental considerations. These standards will enable industry participants to focus on improving the quality and offer low-cost innovative solutions, further boosting the soft exoskeleton market proliferation over the projected timeframe.
Military segment accounted for a significant growth rate over the projected timeframe. This growth is credited to the increasing funding activities by defense firms for developing advanced soft exoskeleton solutions. For instance, in September 2014, Wyss Institute of Harvard university got the first phase funding of around USD 2.9 Million from Defense Advanced Research Projects Agency (DARPA) for development of soft exosuits.
Europe soft exoskeleton market will grow significantly owing to increased investments in R&D for improving the exoskeleton technology. The business is further supported by the presence of geriatric population and increasing innovations in the technology. Industry participants are engaged in collaborating with research institutes and universities for developing lightweight exosuits at a lower cost. For instance, researchers from the University of Limerick are collaborating with the Italian Institute of Technology for offering commercially viable exoskeletons by 2019.
Few players in the soft exoskeleton industry include Ekso Bionics, ReWalk Robotics, Panasonic ? Matsushita Electric Industrial, Bioservo, and SRI International Technologies AB. Partnerships and joint ventures are among the prominent strategies adopted by the industry participants for improving their market share. For instance, in 2016, ReWalk Robotics announced a strategic collaboration with the Wyss Institute of Harvard University for developing and testing lightweight soft exosuits designed for lower limb disabilities, thereby providing a positive outlook for the industry expansion.
Major Highlights from Table of contents are listed below for quick lookup into Soft Exoskeleton Market report
Chapter 1. Competitive Landscape
- Company market share
- Soft Exoskeleton Market Competitive analysis of key market players
- Competitive analysis of other prominent vendors
Chapter 2. Company Profiles
- Business Overview
- Financial Data
- Product portfolio
- Strategic Outlook
- SWOT Analysis
Chapter 3. Methodology & Scope
- Methodology
- Initial data exploration
- Soft Exoskeleton Market Statistical model and forecast
- Industry insights and validation
- Soft Exoskeleton Market Scope
- Definition
- Methodology and forecast parameters
- Data Sources
Chapter 4. Executive Summary
- Soft Exoskeleton industry 360ยบ synopsis - 2025
- Soft Exoskeleton Business trends
- Region trends
Chapter 5. Soft Exoskeleton industry Insights
- Soft Exoskeleton Industry segmentation
- Industry landscape 2025
- Industry Pitfalls and Challenges
- Threat of new entrants
- Threat of substitutes
- Soft Exoskeleton Market Growth potential analysis
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