Exoskeleton Market: Trends, Opportunities and Competitive Analysis [2023-2028]

Exoskeleton Market Trends and Forecast

The future of the global exoskeleton market looks promising with opportunities in the healthcare, military, and industrial markets. The global exoskeleton market is expected to reach an estimated $1,127.9 million by 2028 with a CAGR of 14.90% from 2023 to 2028. The major drivers for this market are increasing geriatric population, growing number of patients with body movement disorders, and rising application of these solutions in various end use industries so as to reduce accidents and improve productivity.

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Exoskeleton Market by Segment

The study includes trends and forecast for the global exoskeleton market by mobility, component, end use industry, and region, as follows:

Exoskeleton Market by Mobility [Shipment Analysis by Value from 2017 to 2028]:

• Mobile
• Fixed/Stationary

Exoskeleton Market by Component [Shipment Analysis by Value from 2017 to 2028]:

• Hardware
  • Sensors
  • Actuators
  • Power Sources
  • Control Systems
• Software
• Others

Exoskeleton Market by End Use Industry [Shipment Analysis by Value from 2017 to 2028]:

• Healthcare
• Military
• Industrial

Exoskeleton Market by Region [Shipment Analysis by Value from 2017 to 2028]:

• North America
• Europe
• Asia Pacific
• The Rest of the World

List of Exoskeleton Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies, exoskeleton companies cater to increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the exoskeleton companies profiled in this report include:

• Lockheed Martin
• RRB3D
• Ekso Bionics
• suitX
• Re Walk Robotics
• Hocoma
• Rex Bionics
• Active Link
• Cyber dyne

Exoskeleton Market Insights

• Lucintel forecasts that mobile exoskeleton segment will witness higher growth over the forecast period due to the increasing adoption of high-speed Internet, artificial intelligence (AI), machine learning, and digital assistants in the medical industry and on-going research and development activities related to wearable exoskeletons.
• Healthcare will remain the largest end use industry segment because of the increasing prevalence rate of spinal cord injuries (SCIs), rising adoption of these solutions in rehabilitation centers, and growing awareness of technologically advanced systems.
• North America will remain the largest region over the forecast period due to the rising purchasing power of patients, increasing prevalence of disabled individuals, and growing demand for robotic rehabilitation in the healthcare sector of the region.

Features of the Exoskeleton Market

• Market Size Estimates: Exoskeleton market size estimation in terms of value ($B)
• Trend and Forecast Analysis: Market trends (2017-2022) and forecast (2023-2028) by various segments and regions.
• Segmentation Analysis: Exoskeleton market size by various segments, such as by mobility, component, end use industry, and region
• Regional Analysis: Exoskeleton market breakdown by North America, Europe, Asia Pacific, and the Rest of the World.
• Growth Opportunities: Analysis on growth opportunities in different mobilities, components, end use industries, and regions for the exoskeleton market.
• Strategic Analysis: This includes M&A, new product development, and competitive landscape for the exoskeleton market.
• Analysis of competitive intensity of the industry based on Porter's Five Forces model.

FAQ

• Q1. What is the exoskeleton market size?
• Answer: The global exoskeleton market is expected to reach an estimated $1,127.9 million by 2028.
• Q2. What is the growth forecast for exoskeleton market?
• Answer: The global exoskeleton market is expected to grow with a CAGR of 14.90% from 2023 to 2028.
• Q3. What are the major drivers influencing the growth of the exoskeleton market?
• Answer: The major drivers for this market are increasing geriatric population, growing number of patients with body movement disorders, and rising application of these solutions in various end use industries so as to reduce accidents and improve productivity.
• Q4. What are the major segments for exoskeleton market?
• Answer: The future of the global exoskeleton market looks promising with opportunities in the healthcare, military, and industrial markets.
• Q5. Who are the key exoskeleton companies?
• Answer: Some of the key exoskeleton companies are as follows:
  • Lockheed Martin
  • RRB3D
  • Ekso Bionics
  • suitX
  • Re Walk Robotics
  • Hocoma
  • Rex Bionics
  • Active Link
  • Cyber dyne
• Q6. Which exoskeleton segment will be the largest in future?
• Answer:Lucintel forecasts that mobile exoskeleton segment will witness a higher growth over the forecast period due to the increasing adoption of high-speed Internet, artificial intelligence (AI), machine learning, and digital assistants in the medical industry and on-going research and development activities related to wearable exoskeletons.
• Q7. In exoskeleton market, which region is expected to be the largest in next 5 years?
• Answer: North America will remain the largest region over the forecast period due to the rising purchasing power of patients, increasing prevalence of disabled individuals, and growing demand for robotic rehabilitation in the healthcare sector of the region.
• Q8. Do we receive customization in this report?
• Answer: Yes, Lucintel provides 10% Customization Without any Additional Cost.

This report answers following 11 key questions:

• Q.1. What are some of the most promising, high-growth opportunities for the global exoskeleton market by mobility (mobile, and fixed/stationary), component (hardware, software, and others), end use industry (healthcare, military, and industrial), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
• Q.2. Which segments will grow at a faster pace and why?
• Q.3. Which region will grow at a faster pace and why?
• Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
• Q.5. What are the business risks and competitive threats in this market?
• Q.6. What are the emerging trends in this market and the reasons behind them?
• Q.7. What are some of the changing demands of customers in the market?
• Q.8. What are the new developments in the market? Which companies are leading these developments?
• Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
• Q10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
• Q11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?