Powered exoskeletons are no longer exist just in the realm of science fiction. They are already in use, tackling a wide range of missions for healthcare, industry, and military applications. They can shield factory workers from injury while enhancing their strength. They can help stroke victims learn to walk again, and can even allow paralyzed patients walk independently.
A new report from FutureWise forecasts a bright future for this rapidly-growing exoskeleton market. The company’s analysts predict that it will become a $4 billion industry by the end of 2026, with an impressive compound anual growth rate (CAGR) from 2019 to 2026 of 43.1%.
While research and development remains a major focus for this segment, product launches have been arriving at a steady pace. From passive designs that augment a person’s existing abilities to powered systems that provide a boost, these wearable devices are playing a role in a growing number of applications.
It’s clear that exoskeleton systems are going to become more affordable and more capable, which will lead them to become more common in the workplace and at home.