Press release
Global Exoskeleton Market to Reach USD 9.78 Billion by 2030, Driven by Explosive 31.2% CAGR Growth
Exoskeleton Market
The global exoskeleton market is poised for significant growth, projected to reach USD 9.78 billion by 2030, expanding at a robust CAGR of 31.2% from 2024 to 2030. This surge is attributed to advancements in wearable robotics, increased adoption in healthcare rehabilitation, industrial applications, and defense sectors
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► Competitive Landscape and Regional Demand
The exoskeleton market is characterized by intense competition, with key players such as Cyberdyne, Ekso Bionics, ReWalk Robotics, Ottobock, Lockheed Martin, and Bionik Laboratories leading the charge. These companies are investing heavily in research and development to introduce innovative products and expand their global footprint.
► Regional Insights
◘ Growth Opportunities in the United States :
The United States remains a dominant force in the exoskeleton market, driven by substantial investments in healthcare and defense sectors. The U.S. market is expected to reach USD 745.6 million by 2032, growing at a CAGR of 20.3%. Notably, the U.S. Army is actively exploring the use of powered exoskeletons to enhance soldier performance, focusing on logistics and resupply capabilities.
◘ Exoskeleton Growth in Asia Pacific:
Asia Pacific is emerging as the fastest-growing region in the exoskeleton market, with a projected CAGR of 35.6% from 2025 to 2033. This growth is fueled by aging populations, increased industrial automation, and government initiatives promoting robotics and assistive technologies.
Market Data Forecast
◘ Trends in Europe:
Europe is witnessing steady growth in the exoskeleton market, supported by stringent workplace safety regulations and a rising demand for geriatric care solutions. The European Union projects a 10% annual increase in the adoption of assistive devices, bolstering the market's expansion.
◘ Opportunities in the Middle East and Africa:
The Middle East and Africa exoskeleton market is projected to reach USD 22.5 million by 2030, growing at a CAGR of 15.5% from 2025 to 2030. This growth is driven by increasing awareness of assistive technologies and investments in healthcare infrastructure.
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► Key Recent Developments
Ekso Bionics acquired the Human Motion & Control business unit from Parker Hannifin in December 2022, expanding its product portfolio to include the Indego exoskeleton line.
In March 2023, India's Svaya Robotics, in collaboration with DRDO labs, launched the country's first homegrown exoskeleton and quadruped robots, marking a significant milestone in the region's robotics sector.
► Market Segmentation: In-Depth Analysis:
◘ by Component
Software
Hardware
accounted for more than 88% of the exoskeleton market in 2016 since hardware components significantly raise the cost of exoskeletons. The hardware segment's largest share was held by control systems.Over the course of the forecast period, the software segment of the exoskeleton market is expected to rise at a significantly higher CAGR. The complexity of exoskeletons is increasing along with technological breakthroughs, hence the software industry is anticipated to grow at a greater compound annual growth rate (CAGR) since the software will help process the complex functionalities precisely and efficiently.
◘ by Type
Passive
Powered
◘ by Mobility
Mobile
Stationary
The mobile exoskeleton market, which accounted for more than 68% of the total exoskeleton market in 2016, is anticipated to expand at a higher compound annual growth rate (CAGR) during the course of the forecast year. The market for mobile exoskeletons is driven by their small size, low weight, and adaptability to use in the house.
◘ by Body Part
Full Body
Upper Extremities
Lower Extremities
◘ by Vertical
Defense
Healthcare
Industrial
For deeper market insights, peruse the summary of the research report: https://www.maximizemarketresearch.com/market-report/exoskeleton-market/2620/
► Learn about the top players driving innovation in the Market :
1. Cyberdyne
2. Bionik Laboratories
3. Ekso Bionics
4. B-Temia
5. Focal Meditech
6. Lockheed Martin
7. DIH Technologies
8. Rewalk Robotics
9. Ottobock
10.Meditouch
11.Honda Motor
12.Parker Hannifin
13.Atoun
14.Rex Bionics
15.Mitsubishi Heavy Industries
16.Myomo
17.Wandercraft
18.Daiya Industry Co.
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