Exoskeleton Market Competitive Growth Analysis, Industry Size, Share, And Forecast 2032

Rapidly heaving demand for better support systems and emphasis on refining human capabilities are projected to primarily bolster the demand for exoskeleton on a global level. High investments in the research and development of novel exoskeleton products will also bolster market development in the future. Increasing demand for better rehabilitation technologies and techniques in the healthcare space and increasing use of advanced technologies in the military sector are also fostering new growth scope for exoskeleton companies around the world. Contrastingly, the high costs of exoskeletons, limited awareness, low acceptance, and absence of proper reimbursement for exoskeleton use in healthcare are some main restraints that could slow down market growth over the coming years.

The Exoskeleton Market is Valued USD 345.6 Million in 2024 and projected to reach USD 13.21 Billion by 2032, growing at a CAGR of 38.6% During the Forecast period of 2024-2032.

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Exoskeleton Market Growth Factors:

Exoskeletons are gaining massive popularity in the military and healthcare industries owing to their impressive application scope. In healthcare exoskeletons are being used for rehabilitation of the physically disabled people whereas in military they are being used to provide additional strength and security to soldiers.

Workers working in dangerous and risky environments are prone to injuries and use of exoskeletons can help prevent this by offering workers extra strength and support to endure and avoid injuries. Impositions of worker safety mandates will also help promote exoskeleton demand outlook over the coming years.

Top companies covered in this report: CYBERDYNE INC., Lockheed Martin Corporation., Innophys Co. Ltd, Ottobock., Ekso Bionics, SUITX, DIH Medical, Sarcos Technology and Robotics Corporation and Others.

Industry News:

March 2024: Innophys Co. Ltd commenced the sales of "Muscle Suit Soft-Power" and "Muscle Suit Every" exoskeleton systems in Slovakia and the Czech Republic in March 2024.

October 2023: SUITX by Ottobock planned to launch the IX BACK AIR exoskeleton system. This system has combined the comfort of soft models with the power of rigid systems.

Exoskeleton Market Segmentation:

By Component:
Hardware
Sensors
Gyroscopes
Microphones
Accelerometers
Tilt Sensors
Force/Torque Sensors
Position Sensors
Others
Actuators
Electric
Pneumatic
Hydraulic
Piezoelectric
Power Sources
Control Systems/Controllers
Others
Software

By Type:
Powered
Passive

By Body Part:
Lower Extremities
Upper Extremities
Full Body

By Mobility:
Stationary
Mobile

By Structure:
Rigid Exoskeletons
Soft Exoskeletons

By Vertical:
Healthcare
Defence
Industrial

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Regional Analysis

North America (USA and Canada)
Europe (UK, Germany, France and rest of Europe)
Asia-Pacific (China, Japan, India, and Rest of Asia Pacific)
Latin America (Brazil, Mexico, and Rest of Latin America)
Middle East and Africa (GCC and Rest of the Middle East and Africa)

North America dominated the exoskeleton market in 2023. The increasing public & private support, availability of advanced technology products, increasing number of collaborations & partnerships with key players, and increasing investment in research activities contribute to the growth of the market. The availability of private investors, the increasing human augmentation in military and services, the broad presence of key players in the market, the rapidly increasing senior population, and the increasing disposable income help to grow the market in the Asia Pacific region.

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Important Features of the reports:

- Detailed analysis of the Exoskeleton Market
- Fluctuating market dynamics of the industry
- Detailed market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape of the Exoskeleton Market
- Strategies of key players and product offerings
- Potential and niche segments/regions exhibiting promising growth
- A neutral perspective towards Exoskeleton Market performance.

The report provides insights on the following pointers:

Market Penetration: Comprehensive information on the product portfolios of the top players in the Exoskeleton Market.

Product Development/Innovation: Detailed insights on upcoming technologies, R&D activities, and product launches in the market.

Competitive Assessment: In-depth assessment of the market strategies, and geographic and business segments of the leading players in the market.

Market Development: Comprehensive information about emerging markets. This report analyzes the market for various segments across geographies.

Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the Exoskeleton Market

How big will the market and growth rate be in 2032?

What are the key drivers for the global Exoskeleton Market?
What are the major market trends influencing the growth of the global Exoskeleton Market?
What are the challenges for market growth?
Who are the key vendors in the global Exoskeleton Market?
What market opportunities and threats are vendors facing in the global Exoskeleton Market?
What are the main findings of the five forces analysis of the global Exoskeleton Market?

Conclusion: At the end of the Exoskeleton Market report, all findings and estimates are presented. It also includes key drivers and opportunities and regional analysis. The Segmental analysis is also provided in terms of type and application.

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