Exoskeleton Market Innovation Trends and Current Business Trends by 2024

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Exoskeleton Market Innovation Trends and Current
Business Trends by 2024 Global Market Insights,
Inc.
Fuel Cell Market size worth 25.5bn by 2024
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Regional Analysis of Exoskeleton Market

• Development in service robotics and government
  initiatives in the RD of these wearable machines
  are contributing to the industry growth. For
  instance, South Korea Ministry of Trade,
  Industry, and Energy planned 20 pilot projects
  for 2017 and 2018, which are related to the
  application of advanced manufacturing robots.
• The aim of the organization is to familiarize
  service robotics in the public sector and
  prioritize social security, and medical
  rehabilitation. In addition, the presence of
  government regulations against improper product
  marketing and approval from the respective
  agencies in the U.S. is projected to favor the
  exoskeleton market growth.

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• Application Analysis of Exoskeleton Market
• On the basis of application, the exoskeleton
  market is segmented into industrial, military,
  healthcare, commercial, and other. The healthcare
  exoframes are rapidly adopted in hospitals and
  rehabilitation centers owing to the increasing
  applications of these devices in mobility and
  rehabilitation aids to patients with physical and
  neurological disorders.
• Moreover, the growing penetration of wearable
  machines in the military segment provides
  soldiers with mobility augmentation and safety
  from the external environment, enhancing the
  military exoskeleton market growth.
• Based on the type, the exoskeleton market is
  segmented into full body, upper body and lower
  body. Full body exosuits cover arms and legs and
  provide strength, endurance, and walking
  assistance to the users. Upper body covers arms
  and torso providing strength to fingers, wrist,
  shoulders, and elbow joints. The demand for full
  body exoframes is increasing owing to the rising
  need for walking rehabilitation.

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Competitive Market Share of Exoskeleton Market

• Some of the key players in the exoskeleton market
  include 20 Knots Plus, Bionik Laboratories Corp.,
  Activelink Co., Ltd., CYBERDYNE, Inc., Hocoma,
  Ekso Bionics, Gogoa, Hyundai Motor UK Ltd.,
  AlterG, B-TEMIA, AxoSuit, ExoAtlet, Exhauss,
  MedEXO Robotics, Fourier Intelligence, Mitsubishi
  Heavy Industries, Noonee, Lockheed Martin
  Corporation, Parker Hannifin Corporation, ReWalk
  Robotics, and Revision Military. Major players
  are adopting several strategies to survive and
  compete in the market.
• These players are launching new products,
  entering mergers and acquisitions, and investing
  a huge amount of money in RD activities. In
  April 2016, Bionik Laboratories acquired
  Interactive Motion Technologies, Inc. (IMT) to
  diversify its business. In July 2015, Hocoma
  introduced Armeo Power, an exoskeleton for the
  arm and hand rehabilitation for after stroke
  therapy.

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