EXOSKELETON MARKET ANALYSIS

Market Concentration and Competitive Landscape

Close-monitor your Competitor's Move, Request sample copy

Addressing ageing workforce challenges

A major driver for the growing exoskeleton adoption is the challenge of an ageing workforce in developed economies. With improving life expectancy and declining birth rates, the average age of populations is rising steadily across regions like Europe, North America, Japan and Korea. This poses unique human resource challenges for companies with physically demanding job roles. Older workers face higher fatigue levels and are more prone to injuries while performing tasks involving manual handling, repetitive motions, and prolonged standing. It is difficult for them to sustain the same level of productivity as their younger colleagues.

At the same time, there is a severe shortage of new entrants into manufacturing and construction industries due to societal preferences of younger generations for more comfortable office jobs. This has started impacting business continuity plans of many companies. In this situation, exoskeletons can serve as a helpful assistive solution by reducing physical stress on the body and supporting extended performance of job tasks. They allow older employees and those recovering from injuries to stay active in work place and utilize their valuable skillsets and experience.