Now though, the momentum for exoskeletons is in the workspace. Sarcos Robotics, which plans to release its full-body exoskeleton in 2019, is targeting most industrial markets, from manufacturing and warehousing to construction and extraction. Large tier-ones and OEM's are taking note, from General Electric and Caterpillar to the Ford Motor Company, exoskeletons are being deployed at an accelerating rate.
In terms of market revenue, the distribution is tilted heavily towards industrial and commercial applications. The industrial market for exoskeletons (including manufacturing, construction, utilities etc.) is expected to reach revenues of US$ 2.8 billion by 2028, while by the same time, commercial use-cases (notably health and warehouse logistics) will be worth US$ 2 billion.
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But there are barriers to exoskeleton adoption. Exoskeletons are still expensive and the deployment of these complex systems requires further partnerships between OEM's, distributors and service providers. More work needs to be done in creating modular platforms that can be retrofitted with a range of capable end-effectors to widen market appeal. There also must be increased emphasis placed on the data collection and cognitive capabilities of exoskeletons; as autonomous smart devices that provide valuable insights to floor managers regarding worker performance and health.
On most trade-floors and industry events related to robotics, exoskeletons have yet to garner the attention of other innovative robotic technologies, namely collaborative robots and autonomous vehicles. "As their value across a wide range of verticals becomes more apparent and services lower the barriers to adoption, this will change rapidly," Whitton concludes.
These findings are from ABI Research's Robotic Exoskeletons: Classes, Markets, and Applications report. This report is part of the company's Robotics, Automation & Intelligent Systems research service, which includes research, data, and Executive Foresights.
About ABI Research
ABI Research provides strategic guidance for visionaries needing market foresight on the most compelling transformative technologies, which reshape workforces, identify holes in a market, create new business models and drive new revenue streams. ABI's own research visionaries take stances early on those technologies, publishing groundbreaking studies often years ahead of other technology advisory firms. ABI analysts deliver their conclusions and recommendations in easily and quickly absorbed formats to ensure proper context. Our analysts strategically guide visionaries to take action now and inspire their business to realize a bigger picture. For more information about ABI Research's forecasting, consulting and teardown services, visionaries can contact us at +1.516.624.2500 in the Americas, +44.203.326.0140 in Europe, +65.6592.0290 in Asia-Pacific or visit www.abiresearch.com.
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