Wearable robots and exoskeletons market reveals potential at embryonic stage
Just over 10% of warehouse professionals have programmes underway or being planned for IoT adoption, according to a Daintree Networks report.
Though the market for wearable robots and exoskeletons is still in its early stages, there exists a lot of potential for growth as the number of applications begins to increase. AcuteMarketReports.com has added a new report that expects the value of the market to rise from $16.5 million in 2014 to $2.1 billion by 2021. The key regions involved in the development of this technology are the US, China, Korea, Japan, and Europe.
Wearable robots and exoskeletons can be used to help paraplegic wheelchair patients walk while playing a role in rehabilitating those who have suffered traumatic injuries. Exoskeletons can also be used to improve the life of the aged while also finding application in occupational heavy lifting. Certain companies are also exploring the use of the technology in military applications.
The wearable robots and exoskeletons industry will have to change the mind-set of the end user in the medical sector with regards to the benefits of adoption, as insurance will only cover a small portion of exoskeleton rehabilitation expenses. There is also a lack of analysis on penetration, as the market is in the early adopter phase, in order to provide accurate growth estimates.
The report has been prepared by WinterGreen Research, an independent research organisation. You can find more about the report here.
Interested in hearing industry leaders discuss subjects like this and sharing their IoT use-cases? Attend the IoT Tech Expo World Series events with upcoming shows in Silicon Valley, London and Amsterdam to learn more.