Exoskeletons in 2020: A Technology Still Finding Its Feet

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4Q 2020 | IN-5920

 

A Nascent Technology Struggling to Break Free

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Based on ABI Research’s latest Commercial and Industrial Robotics market data (MD-CIROBO-105), the exoskeleton market is valued at US$392 million in 2020 and will grow to US$6.8 billion in global revenue in 2030. This represents significant growth, but is a contraction from previous studies, which were more optimistic about the fledgling technology. Although exoskeletons are being deployed in a greater variety of roles, they have not proven their worth to the degree that other nascent robotic technologies like Collaborative Robots (cobots) and autonomous navigation systems have. There are comparatively few investments of significant size in the exoskeleton market. Of the 863 major private and venture investments in robotics companies from 2017 and 2020, only 12 went to companies developing exoskeleton technology, with ...

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