Exoskeleton Market by Product, Type, Technology, End User

List of Tables

The Exoskeleton Market was valued at USD 865.78 million in 2023, expected to reach USD 999.81 million in 2024, and is projected to grow at a CAGR of 18.20%, to USD 2,791.19 million by 2030.

Exoskeletons, wearable devices designed to enhance physical capabilities, are revolutionizing industries such as healthcare, manufacturing, military, and logistics. Primarily, they assist individuals with mobility impairments, streamline heavy lifting, and enhance endurance, thus marking their necessity across sectors. In healthcare, they aid in rehabilitation for patients with spinal cord injuries or strokes. Industrial applications focus on reducing workplace injuries by supporting workers in physically demanding tasks, thereby improving productivity. The end-use scope of exoskeletons expands to sectors like defense, where they offer soldiers increased endurance and protection. The market growth is significantly influenced by technological advancements, increasing geriatric populations requiring mobility assistance, and rising workplace safety awareness. Innovations such as integrating artificial intelligence and IoT for smarter, more responsive exoskeletons present potential opportunities. Companies could seize these by investing in R&D and forming strategic partnerships. However, challenges such as high costs, regulatory hurdles, and consumer skepticism may impede growth. Limitations also include the need for extensive user training and potential issues around user comfort and adaptability. To overcome these, businesses could focus on creating customizable and cost-effective exoskeleton solutions. The market's nature is rapidly evolving, driven by a critical balance between technological innovation and practical application. Promising areas for innovation include developing lightweight materials and enhancing battery life for extended usage. There's significant potential in sectors less explored, like agriculture, where exoskeletons could revolutionize manual farming tasks. For business growth, a focus on collaborations with healthcare institutions and industrial workplaces can drive adoption. In summary, the exoskeleton market holds dynamic growth potential, contingent on addressing challenges and capitalizing on emerging technologies to offer tailored solutions aligned with specific industry needs.

KEY MARKET STATISTICS
Base Year [2023]	USD 865.78 million
Estimated Year [2024]	USD 999.81 million
Forecast Year [2030]	USD 2,791.19 million
CAGR (%)	18.20%

Market Dynamics: Unveiling Key Market Insights in the Rapidly Evolving Exoskeleton Market

The Exoskeleton Market is undergoing transformative changes driven by a dynamic interplay of supply and demand factors. Understanding these evolving market dynamics prepares business organizations to make informed investment decisions, refine strategic decisions, and seize new opportunities. By gaining a comprehensive view of these trends, business organizations can mitigate various risks across political, geographic, technical, social, and economic domains while also gaining a clearer understanding of consumer behavior and its impact on manufacturing costs and purchasing trends.

Market Drivers
- Growing demand from healthcare sector for robotic rehabilitation
- Increasing adoption of human augmentation equipment in industrial and military sectors
- Growth in the insurance coverage for medical exoskeletons
Market Restraints
- High equipment cost of exoskeleton robots
Market Opportunities
- Technological advancement in materials science, artificial intelligence, and robotics
- Growing awareness and government initiatives for adoption of exoskeletons in different industries
Market Challenges
- Regulatory issues for securing approvals for medical applications of exoskeletons

Porter's Five Forces: A Strategic Tool for Navigating the Exoskeleton Market

Porter's five forces framework is a critical tool for understanding the competitive landscape of the Exoskeleton Market. It offers business organizations with a clear methodology for evaluating their competitive positioning and exploring strategic opportunities. This framework helps businesses assess the power dynamics within the market and determine the profitability of new ventures. With these insights, business organizations can leverage their strengths, address weaknesses, and avoid potential challenges, ensuring a more resilient market positioning.

PESTLE Analysis: Navigating External Influences in the Exoskeleton Market

External macro-environmental factors play a pivotal role in shaping the performance dynamics of the Exoskeleton Market. Political, Economic, Social, Technological, Legal, and Environmental factors analysis provides the necessary information to navigate these influences. By examining PESTLE factors, businesses can better understand potential risks and opportunities. This analysis enables business organizations to anticipate changes in regulations, consumer preferences, and economic trends, ensuring they are prepared to make proactive, forward-thinking decisions.

Market Share Analysis: Understanding the Competitive Landscape in the Exoskeleton Market

A detailed market share analysis in the Exoskeleton Market provides a comprehensive assessment of vendors' performance. Companies can identify their competitive positioning by comparing key metrics, including revenue, customer base, and growth rates. This analysis highlights market concentration, fragmentation, and trends in consolidation, offering vendors the insights required to make strategic decisions that enhance their position in an increasingly competitive landscape.

FPNV Positioning Matrix: Evaluating Vendors' Performance in the Exoskeleton Market

The Forefront, Pathfinder, Niche, Vital (FPNV) Positioning Matrix is a critical tool for evaluating vendors within the Exoskeleton Market. This matrix enables business organizations to make well-informed decisions that align with their goals by assessing vendors based on their business strategy and product satisfaction. The four quadrants provide a clear and precise segmentation of vendors, helping users identify the right partners and solutions that best fit their strategic objectives.

Strategy Analysis & Recommendation: Charting a Path to Success in the Exoskeleton Market

A strategic analysis of the Exoskeleton Market is essential for businesses looking to strengthen their global market presence. By reviewing key resources, capabilities, and performance indicators, business organizations can identify growth opportunities and work toward improvement. This approach helps businesses navigate challenges in the competitive landscape and ensures they are well-positioned to capitalize on newer opportunities and drive long-term success.

Key Company Profiles

The report delves into recent significant developments in the Exoskeleton Market, highlighting leading vendors and their innovative profiles. These include ABLE Human Motion S.L., American Bionics, Aselsan AS, ATOUN Inc., B-Temia Inc., Bioness Inc., Bionic Power Inc., BIONIK Inc., Bioservo Technologies AB, Bioventus LLC, Cyberdyne Inc., Dachser Group SE & Co. KG, Dephy Inc., Ekso Bionics Holdings Inc., ExoAtlet, Focal Meditech, Gogoa Mobility Robots, SL, Hilti Corporation, Hocoma AG, Honda Motor Co. Ltd., Honeywell International Inc., Hyundai Motor Company, Innophys Co., Ltd., Ktwo Healthcare Pvt. Ltd., Laevo, Levitate Technologies, Inc., Lockheed Martin Corporation, Marsi Bionics, S.L., Mitsubishi Heavy Industries, Ltd., Myomo, Inc., Noonee Germany GmbH, Northrop Grumman Corporation, Ottobock SE & Co. KGaA, Panasonic Corporation, Parker Hannifin Corporation, Raytheon Technologies Corporation, RB3D, Revision Inc., ReWalk Robotics Ltd., Rex Bionics Ltd., Rostec Corp., Safran S.A., Sarcos Corporation, SpringActive Inc., SRI International Inc., Suit X, Technaid, S.L., The Boeing Company, Toyota Motor Corporation, and Wearable Robotics s.r.l..

Market Segmentation & Coverage

This research report categorizes the Exoskeleton Market to forecast the revenues and analyze trends in each of the following sub-markets:

Based on Product, market is studied across Full Body, Lower Body, and Upper Body.
Based on Type, market is studied across Mobile and Stationary.
Based on Technology, market is studied across Active and Passive.
Based on End User, market is studied across Hospitals, Manufacturing & Construction, Military & Defense, Rehabilitation Center, and Sport & Fitness.
Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom.

The report offers a comprehensive analysis of the market, covering key focus areas:

1. Market Penetration: A detailed review of the current market environment, including extensive data from top industry players, evaluating their market reach and overall influence.

2. Market Development: Identifies growth opportunities in emerging markets and assesses expansion potential in established sectors, providing a strategic roadmap for future growth.

3. Market Diversification: Analyzes recent product launches, untapped geographic regions, major industry advancements, and strategic investments reshaping the market.

4. Competitive Assessment & Intelligence: Provides a thorough analysis of the competitive landscape, examining market share, business strategies, product portfolios, certifications, regulatory approvals, patent trends, and technological advancements of key players.

5. Product Development & Innovation: Highlights cutting-edge technologies, R&D activities, and product innovations expected to drive future market growth.

The report also answers critical questions to aid stakeholders in making informed decisions:

1. What is the current market size, and what is the forecasted growth?

2. Which products, segments, and regions offer the best investment opportunities?

3. What are the key technology trends and regulatory influences shaping the market?

4. How do leading vendors rank in terms of market share and competitive positioning?

5. What revenue sources and strategic opportunities drive vendors' market entry or exit strategies?

Product Code: MRR-033F7A232459

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Growing demand from healthcare sector for robotic rehabilitation
  - 5.1.1.2. Increasing adoption of human augmentation equipment in industrial and military sectors
  - 5.1.1.3. Growth in the insurance coverage for medical exoskeletons
- 5.1.2. Restraints
  - 5.1.2.1. High equipment cost of exoskeleton robots
- 5.1.3. Opportunities
  - 5.1.3.1. Technological advancement in materials science, artificial intelligence, and robotics
  - 5.1.3.2. Growing awareness and government initiatives for adoption of exoskeletons in different industries
- 5.1.4. Challenges
  - 5.1.4.1. Regulatory issues for securing approvals for medical applications of exoskeletons
5.2. Market Segmentation Analysis
5.3. Porter's Five Forces Analysis
- 5.3.1. Threat of New Entrants
- 5.3.2. Threat of Substitutes
- 5.3.3. Bargaining Power of Customers
- 5.3.4. Bargaining Power of Suppliers
- 5.3.5. Industry Rivalry
5.4. PESTLE Analysis
- 5.4.1. Political
- 5.4.2. Economic
- 5.4.3. Social
- 5.4.4. Technological
- 5.4.5. Legal
- 5.4.6. Environmental

6. Exoskeleton Market, by Product

6.1. Introduction
6.2. Full Body
6.3. Lower Body
6.4. Upper Body

7. Exoskeleton Market, by Type

7.1. Introduction
7.2. Mobile
7.3. Stationary

8. Exoskeleton Market, by Technology

8.1. Introduction
8.2. Active
8.3. Passive

9. Exoskeleton Market, by End User

9.1. Introduction
9.2. Hospitals
9.3. Manufacturing & Construction
9.4. Military & Defense
9.5. Rehabilitation Center
9.6. Sport & Fitness

10. Americas Exoskeleton Market

10.1. Introduction
10.2. Argentina
10.3. Brazil
10.4. Canada
10.5. Mexico
10.6. United States

11. Asia-Pacific Exoskeleton Market

11.1. Introduction
11.2. Australia
11.3. China
11.4. India
11.5. Indonesia
11.6. Japan
11.7. Malaysia
11.8. Philippines
11.9. Singapore
11.10. South Korea
11.11. Taiwan
11.12. Thailand
11.13. Vietnam

12. Europe, Middle East & Africa Exoskeleton Market

12.1. Introduction
12.2. Denmark
12.3. Egypt
12.4. Finland
12.5. France
12.6. Germany
12.7. Israel
12.8. Italy
12.9. Netherlands
12.10. Nigeria
12.11. Norway
12.12. Poland
12.13. Qatar
12.14. Russia
12.15. Saudi Arabia
12.16. South Africa
12.17. Spain
12.18. Sweden
12.19. Switzerland
12.20. Turkey
12.21. United Arab Emirates
12.22. United Kingdom

13. Competitive Landscape

13.1. Market Share Analysis, 2023
13.2. FPNV Positioning Matrix, 2023
13.3. Competitive Scenario Analysis
- 13.3.1. Svaya Robotics unveils India's first homegrown quadruped robot and exoskeleton.
- 13.3.2. Japanese startup seeks to expand abroad with exoskeleton business.
- 13.3.3. Ekso Bionics buys Indego exoskeletons from Parker Hannifin.
- 13.3.4. Mubea to collaborate on production of carbon fiber exoskeletons.
- 13.3.5. Human in Motion Robotics Awarded $663,000 Contract by Innovative Solutions Canada for Department of National Defense.
- 13.3.6. Vanderbilt, 101st Airborne collaborate on development of exoskeleton for soldier use in inaugural Pathfinder Project.
- 13.3.7. Smart body suit for neuromuscular disease receives £1.25m (USD 1.56 million) backing.
- 13.3.8. Harmonic Bionics and Curexo Enter Strategic Partnership.
- 13.3.9. RoboCT brings in USD 15 million for robotic exoskeletons.
- 13.3.10. FDA Clears EksoNR Robotic Exoskeleton for Rehabilitation in Multiple Sclerosis.
13.4. Strategy Analysis & Recommendation

Companies Mentioned

1. ABLE Human Motion S.L.
2. American Bionics
3. Aselsan AS
4. ATOUN Inc.
5. B-Temia Inc.
6. Bioness Inc.
7. Bionic Power Inc.
8. BIONIK Inc.
9. Bioservo Technologies AB
10. Bioventus LLC
11. Cyberdyne Inc.
12. Dachser Group SE & Co. KG
13. Dephy Inc.
14. Ekso Bionics Holdings Inc.
15. ExoAtlet
16. Focal Meditech
17. Gogoa Mobility Robots, SL
18. Hilti Corporation
19. Hocoma AG
20. Honda Motor Co. Ltd.
21. Honeywell International Inc.
22. Hyundai Motor Company
23. Innophys Co., Ltd.
24. Ktwo Healthcare Pvt. Ltd.
25. Laevo
26. Levitate Technologies, Inc.
27. Lockheed Martin Corporation
28. Marsi Bionics, S.L.
29. Mitsubishi Heavy Industries, Ltd.
30. Myomo, Inc.
31. Noonee Germany GmbH
32. Northrop Grumman Corporation
33. Ottobock SE & Co. KGaA
34. Panasonic Corporation
35. Parker Hannifin Corporation
36. Raytheon Technologies Corporation
37. RB3D
38. Revision Inc.
39. ReWalk Robotics Ltd.
40. Rex Bionics Ltd.
41. Rostec Corp.
42. Safran S.A.
43. Sarcos Corporation
44. SpringActive Inc.
45. SRI International Inc.
46. Suit X
47. Technaid, S.L.
48. The Boeing Company
49. Toyota Motor Corporation
50. Wearable Robotics s.r.l.