OYSTER BAY, N.Y., Dec. 21, 2015 /PRNewswire/ -- In its latest robotics report, ABI Research, a leader in technology market intelligence, predicts the robotic exoskeleton sector to reach $1.8 billion in 2025, up from $68 million in 2014, for a CAGR of 39.6%. Lower body exoskeletons, employed as rehabilitation tools or quality of life enablers, currently lead the sector. However, commercial systems that augment or amplify capabilities will exhibit the strongest growth moving forward. This is especially true for industrial tasks requiring heavy lifting, extended standing, squatting, bending or walking in manufacturing facilities, particularly within construction and agriculture industries.
Read ABI Research's Robotic Exoskeletons report: https://www.abiresearch.com/market-research/product/1020023-robotic-exoskeletons-classes-markets-and-a/.
"Following years of ongoing research and development, a commercial exoskeleton market finally fully emerged, though it is still in its nascency," says Dan Kara, Research Director at ABI Research. "Social imperatives, military requirements and business needs, supported by technological advances, now make it possible to develop commercially viable exoskeleton systems for a wide variety of applications and markets."
A component of ABI Research's robotics sector, the Robotic Exoskeletons report offers informed and actionable quantitative research and qualitative analysis to solution providers and end-users. Report insights aim to guide them toward increasing opportunities and minimizing risk when employing robotics and intelligent systems technologies to develop new markets and product categories, and enhance existing product lines.
"The diversity of currently available commercial exoskeleton solutions is a reflection of the widely ranging backgrounds and core historical strengths of exoskeleton technologies suppliers," concludes Kara. "Market leaders, including Cyberdyne, Ekso Bionics, Lockheed Martin, Parker Hannifin, ReWalk Robotics, Honda, Toyota and more, are expanding their exoskeleton offerings, particularly with regard to industrial solutions."
These findings are part of ABI Research's Industrial and Service Robotics Service (https://www.abiresearch.com/market-research/service/Industrial-Service-Robotics/), which includes research reports, market data, insights and competitive assessments.
About ABI Research
For more than 25 years, ABI Research has stood at the forefront of technology market intelligence, partnering with innovative business leaders to implement informed, transformative technology decisions. The company employs a global team of senior analysts to provide comprehensive research and consulting services through deep quantitative forecasts, qualitative analyses and teardown services. An industry pioneer, ABI Research is proactive in its approach, frequently uncovering ground-breaking business cycles ahead of the curve and publishing research 18 to 36 months in advance of other organizations. In all, the company covers more than 60 services, spanning 11 technology sectors. For more information, visit www.abiresearch.com.
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SOURCE ABI Research