Exoskeleton Market Increasing Demand, Growth Analysis and Future Outlook by 2031

The global exoskeleton market is anticipated to grow at a CAGR of 12.4% during the forecast period (2024-2031). Increasing integration of AI and robotic technologies boost market growth, as the integration enhances the capabilities of exoskeletons, providing advanced features such as intelligent motion control, real-time adjustments, and personalized user experiences. Consequently, the market players are consistently emphasizing partnerships, and collaborations to facilitate the expansion of the exoskeleton market. For instance, in December 2023, ReWalk Robotics demonstrated a next-gen exoskeleton with advanced sensing and AI for autonomous decision-making. As part of the Israel Innovation Authority's MAGNET incentive program, the Human-Robot Interaction Consortium reached a milestone by integrating advanced sensing technologies and AI to enable autonomous decision-making in its latest exoskeleton prototype. Additionally, in February 2021, Paramount Group and Sarcos Robotics partnered to bring advanced robotic systems to the Middle East and Africa. The collaboration improved Sarcos' robotic technologies for aerospace and maritime applications, initially focusing on the Guardian® XO® exoskeleton and Guardian® XT teleoperated robot. These systems aimed to enhance human performance and efficiency in defense, aerospace, and commercial sectors in the region.

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Furthermore, rising innovative product launches including AI-powered exoskeletons provide several advantages, such as smoother lifting, reduced strain, increased strength, force multiplication, and enhanced productivity, bolstering the market growth. In December 2021, German Bionic launched the 5th generation Cray X, a smart AI-powered exoskeleton with active walking assistance, outdoor capabilities, and other pioneering technologies. The fifth-gen Cray X introduced walking assistance, IP54 waterproofing for diverse environments, and a more powerful 40 V platform with hot-swapping capability for uninterrupted usage.

Global Exoskeleton Market Report Segment

By Type

• Powered Exoskeletons
• Passive Exoskeletons

By Mobility

• Mobile
• Fixed/Stationary

By End-User

• Medical
• Industrial
• Military

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Exoskeleton Market Report Segment by Region

North America

• United States
• Canada

Europe

• Germany
• United Kingdom
• France
• Spain
• Italy
• Rest of Europe

Asia-Pacific

• China
• Japan
• India
• Rest of Asia-Pacific

Rest of the World

• Middle East & Africa
• Latin America

Company Profiles

• 3DR, Inc.
• American Honda Motor Co., Inc.
• ATOUN Inc.
• B-Temia Inc.
• Hocoma AG
• Lockheed Martin Corp.
• Myomo Inc.
• noonee germany GmbH
• Parker Hannifin Corp.
• Rex Bionics Ltd
• Roam Robotics

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