Exoskeleton Market Top Highlighted Vendors Ekso Bionics, ActiveLink, Cyberdyne, ReWalk Robotics, Rex Bionics, Lockheed Martin Corporation

The Exoskeleton Market was valued at US$ 87.9 million in 2016 and is projected to reach US$ 2,288.3 million by 2025, exhibiting a CAGR of 44.16% by 2025. Increasing demand for exoskeleton in the military and healthcare sectors for rehabilitation as well as increasing investment in the development of exoskeleton technology is boosting growth of the exoskeleton market.

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Exoskeleton Market Key Driving Factor

Increasing demand for exoskeleton form military sector, owing to its ability of carrying more armor with fast body movement is driving growth of the market. Furthermore, exoskeletons can reduce metabolic cost of the load and helps soldiers cover more ground and additional armor, independently, which is propelling demand for exoskeleton in the military sector, in turn driving market growth.

Exoskeleton Market, by Product Type

Among product type, the powered exoskeleton segment is expected witness rapid growth, over the forecast period. This growth is attributed to increasing demand for powered exoskeletons in the healthcare sector, to assist people suffering from disabilities. According to Ekso Bionics, a California-based bioengineering company, more than 150 Hybrid Assisted Limb (HAL) exoskeletons are in place at hospitals and assisted-living facilities in Japan. Powered exoskeletons are more energy efficient than passive exoskeletons, due to which the demand for powered exoskeletons is expected to grow.

Exoskeleton Market, by Vertical

Among verticals, the healthcare segment accounted for the largest market share in the exoskeleton market in 2016. The segment was valued at around US$ 47.6 million in 2016. The military segment is expected to witness highest growth, exhibiting a CAGR of 44.40% during the forecast period. This growth is attributed to the ability of exoskeletons to assist soldiers on the battlefield to lift heavy weapons and move faster, covering a larger area on the battlefield.

Key companies

Major players operating in the global exoskeleton market include Ekso Bionics, ActiveLink (Panasonic Corporation), Cyberdyne, Inc., ReWalk Robotics Ltd, Rex Bionics Plc., Lockheed Martin Corporation, Suit X (U.S. Bionics, Inc.), RB3D, Hocoma, DIH Technologies, Focal Meditech, and Ottobock.

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Detailed Segmentation of this report:
• Global Exoskeleton Market, By Offering:
o Hardware
o Software

• Global Exoskeleton Market, By Product Type:
o Powered
o Passive

• Global Exoskeleton Market, By Mobility:
o Stationary
o Mobile

• Global Exoskeleton Market, By Body Parts:
o Lower Extremities
o Upper Extremities
o Full Body

• Global Exoskeleton Market, By Vertical:
o Healthcare
o Military
o Industrial
o Others

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This release was published on openPR.