Smart Exoskeleton Market By Component (Sensors, Power Source, Control System, Actuators, Others); By Type (Soft Exoskeleton, Rigid Exoskeleton); By Body Part (Upper Body, Lower Body, Full Body); By Application (Industrial, Military, Healthcare, Others); By Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Global Market Analysis, Trends, Opportunity and Forecast, 2022-2032
Smart Exoskeleton Market Overview and Definition
The global smart exoskeleton market size was valued at around USD 360.5 million in 2022 and is projected to grow at a compound annual rate of growth (CAGR) of around 17.1% from 2022 to 2032.The market size is projected to succeed in USD 1.9 billion by 2032.
Smart exoskeletons, also known as powered exoskeletons, are wearable devices that provide powered assistance to the wearer's movements. These exoskeletons typically use a combination of sensors, motors, and batteries to provide increased strength and mobility to the wearer. Smart exoskeletons are used in a variety of applications, including medical rehabilitation, industrial manufacturing, and military operations.
The smart exoskeleton market refers to the industry involved in the design, production, and distribution of these devices and related services. This market includes a variety of hardware, software, and support services, including exoskeleton manufacturing, software and control systems development, and training and support services.
The smart exoskeleton market is driven by the increasing demand for wearable robotics and the need for assistive technologies to support aging populations and individuals with disabilities. In the medical field, smart exoskeletons are used to aid in the rehabilitation of individuals recovering from injuries or illnesses, while in industry, exoskeletons can be used to reduce the risk of injury and increase productivity. As the technology continues to evolve and become more advanced, the smart exoskeleton market is expected to grow and expand into new applications and industries, with new use cases and technologies emerging to meet the changing needs of the market.
Growing demand for the use of smart exoskeleton in the rehabilitation of people suffering from neurological disorders and physical disabilities are expected to positively impact the growth of the global smart exoskeleton market in the upcoming years. Further, increasing number of spinal cord injury & paralysis cases and growing geriatric population are some of the major factors behind the growth of the global smart exoskeleton market.
Moreover, rising adoption of human augmentation in industrial and military sectors are projected to intensify the growth of the global smart exoskeleton market. In addition, demand for motor-equipped robots to assist human body mechanism is increasing. Further, this factor is anticipated to drive the growth of the global smart exoskeleton market over the forecasted period.
However, factors such as high equipment cost and stringent government regulations for exoskeletons are likely to hamper the growth of the global smart exoskeleton market in the upcoming years.
Smart Exoskeleton Market Regional Outlook
In terms of geography, the smart exoskeleton market is analyzed into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Among these regions, North America is expected to account for the highest percentage of market share in the overall smart exoskeleton market over the forecasted period. Increasing investments to develop smart, innovative and energy efficient exoskeleton is envisioned to drive the growth of North America smart exoskeleton market in the upcoming years. In addition to this, the advancement of robotics technologies in the North America region is anticipated to intensify the growth of smart exoskeleton market.
Smart Exoskeleton Market Segmentation
The research offers a comprehensive analysis of smart exoskeleton market with respect to following sub-markets:
- Power Source
- Control System
- Soft Exoskeleton
- Rigid Exoskeleton
By Body Part
- Upper Body
- Lower Body
- Full Body
- North America (U.S. & Canada)
- Europe (Germany, United Kingdom, France, Italy, Spain, Russia and Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Indonesia, Taiwan, Australia, New Zealand and Rest of Asia Pacific)
- Latin America (Brazil, Mexico, Argentina and Rest of Latin America)
- Middle East & Africa (GCC, North Africa, South Africa and Rest of Middle East & Africa)
Smart Exoskeleton Market Key Players
The report profiles various major market players such as;
- Rex Bionics Ltd
- ReWalk Robotics
- Ekso Bionics
- Cyberdyne Inc.
- ATOUN Inc.
- Technaid. S.L.
- US Bionics
- Other Major & Niche Players
Competitive landscape analysis provides detailed strategic analysis of the company’s business and performance such as financial information, revenue breakup by segment and by geography, SWOT Analysis, key facts, company overview, business strategy, key product offerings, marketing and distribution strategies, new product development, recent news (acquisition, expansion, technology development, research & development and other market activities).
The study also provides company’s positioning and market share in smart exoskeleton market.
Timeline Considered for Analysis:
- 2021: Base Year
- 2022: Estimated Year
- 2022 to 2032: Forecasted Year
Research Scope and Deliverables
Overview & Executive Summary
Market Drivers, Trends, Challenges and Opportunities
Market Size and Forecast Projections
Macroeconomic Indicators of Various Countries Impacting the Growth of the Market
Extensive Coverage of Industry Players including Recent Product Launches and Market Activities
Porter’s Five Force Analysis
Market Segmentation Analysis:
Industry report analyzes the global smart exoskeleton market by the following segments:
- Body Part
Geographic Market Analysis:
The report offers separate analysis of North America, Europe, Asia Pacific, Latin America and Middle East & Africa. In addition, further breakdown of market data and analysis of region into countries is covered in the report.
Customization: We also offers customization’s in the industry report as per the company’s specific needs.
Key Questions Answered in the Global Smart Exoskeleton Industry Report:
- What is the overall market size in 2021? What will be the market growth during the forecast period i.e., 2022-2032?
- Which region would have high demand for product in the upcoming years?
- What are the factors driving the growth of the market?
- Which sub-market will make the most significant contribution to the market?
- What are the market opportunities for existing and entry-level players?
- What are various long-term and short-term strategies adopted by the market players?