智能体专题报告之三：AI加持，外骨骼机器人加速起跑

Industry Investment Rating - The report gives a "Stronger than the Market" rating for the exoskeleton robot industry [1] Core Views - Exoskeleton robots are at a critical point of transitioning from technological maturity to rapid commercialization, with significant investment opportunities [1] - Compared to humanoid robots, exoskeleton robots have unique advantages, such as being more employment-friendly and suitable for China's labor-intensive industries [1] - The market size of exoskeleton robots is expected to match that of humanoid robots, with applications in medical, industrial, military, and consumer sectors [1] - AI-driven technological innovations are accelerating commercialization, with potential future integration of brain-computer interfaces [1] Market and Industry Analysis Exoskeleton Robots Entering Consumer Markets - Exoskeleton technology is expanding from vertical fields like healthcare to consumer markets, with products like the Mo/Go™ exoskeleton pants by Google and Arc'teryx targeting outdoor sports [1] - The introduction of consumer markets is expected to significantly boost industry performance and valuation [1] Advantages Over Humanoid Robots - Exoskeleton robots are more aligned with human interests, such as preserving jobs, enhancing user experience, and reducing ethical conflicts, making them more acceptable in industries like manufacturing [1] - They are particularly suitable for China's labor-intensive industries, as they enhance worker capabilities rather than replacing them [1] Market Size and Growth Potential - The global exoskeleton robot market is projected to grow from $3.92 billion in 2020 to $68 billion in 2030, with a CAGR of 33% [21] - In China, the market is expected to grow from 6.8 billion yuan in 2021 to 105.6 billion yuan in 2025, with a CAGR of 98.5% [21] - The market size and growth rate of exoskeleton robots are comparable to those of humanoid robots, with both expected to reach tens of billions of dollars [21] Key Application Scenarios - Medical: Exoskeleton robots are widely used in rehabilitation, elderly care, and disability assistance, with a growing market driven by aging populations and healthcare needs [21][24] - Industrial: They are used in manufacturing, construction, and logistics to enhance worker capabilities and reduce labor injuries [27] - Consumer: Products like the Mo/Go™ exoskeleton pants are targeting outdoor sports and fitness markets, with significant growth potential [29] Technological Advancements - AI and machine learning are driving innovations in exoskeleton robots, particularly in areas like motion control, intent recognition, and human-device interaction [38] - Brain-computer interface (BCI) technology is emerging as a key area for future development, enabling more precise control and interaction between humans and exoskeletons [39] Commercialization Progress - The price of exoskeleton robots has dropped to the thousand-yuan level, making them more accessible to consumers [33] - Online sales channels are becoming more widespread, further accelerating commercialization [33] Industry Chain and Key Players - The exoskeleton robot industry chain is relatively mature, with significant overlap in upstream components with humanoid robots [40] - Key players include Ekso Bionics, ReWalk Robotics, and domestic companies like Da Ai Robotics and Aushang Intelligence [42][44]