According to a report by BIS Aerospace & Defense, dubbed "Global Wearable Robotic Exoskeleton Market, Analysis & Forecast, 2017 - 2026", the global wearable robotic exoskeleton market is expected to reach $4.65 billion by 2026, growing at a CAGR of 47.4% during the forecast period. The wearable robotic exoskeleton market witnessed a high growth rate as machine intelligence has surpassed human intelligence in the defense industry and there is a rise in the demand for exoskeletons for rehabilitation application, which is expected to further increase with the rapid growth of the geriatric population. Recent innovations in exoskeleton components and services have enabled the exoskeleton technology to reach a wider segment of consumers in the industry. However, stringent governmental regulations for exoskeletons in the healthcare industry and the high selling price of powered exoskeletons are the major challenges for the market.
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