Exoskeleton System Market Size 2024 To 2032
- The global exoskeleton system market size reached USD 1,157.1 Million in 2023.
- The exoskeleton system market size is expected to reach USD 25,700.7 Million by 2032, exhibiting a growth rate (CAGR) of 39.9% during 2024-2032.
- North America leads the market, accounting for the largest exoskeleton system market share.
- Based on the component, the market has been classified into hardware (sensors, actuators, power sources, control systems, and other components) and software.
- On the basis of type, the market has been categorized into powered and passive.
- Based on the mobility, the market has been bifurcated into stationery and mobile.
- On the basis of body part, the market has been divided into lower body, upper body, and full body.
- Based on the end-use sector, the market has been classified into healthcare, defense, industrial, and others.
- The rising demand for rehabilitation solutions is a primary driver of the exoskeleton system market.
- Technological advancements and the incorporation of artificial intelligence (AI) algorithms are reshaping the exoskeleton system market.
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Industry Trends and Drivers:
- Growing Demand for Rehabilitation and Mobility Solutions:
The increasing need for advanced rehabilitation solutions for individuals with disabilities, injuries, or age-related mobility issues is one of the major drivers boosting the exoskeleton system market size. Along with this, the rising popularity of medical exoskeletons as they assist in physical therapy, allowing patients to regain mobility more quickly and effectively is contributing to the market growth. These systems help individuals with spinal cord injuries, strokes, or neurodegenerative diseases improve their ability to walk and move. Besides this, the rising geriatric population, creating the demand for rehabilitation technology to aid elderly mobility is fostering the market growth.
- Rapid Advancements in Robotic Technology and AI Integration:
The rising technological progress in robotics, artificial intelligence (AI), and sensor technology is another major factor accelerating the exoskeleton system market share.
Moreover, the increasing incorporation of AI algorithms in exoskeleton systems that enable adaptive learning and real-time adjustments to user movements is creating a positive outlook for the market. Besides this, the burgeoning integration of sensors and AI-driven control systems that allow exoskeletons to understand the user's intentions and react accordingly, offering a more natural movement experience is favoring the market growth. Apart from this, the continuous refinement in motor systems, battery efficiency, and lightweight materials that contributes to making these devices more practical for extended use, is enhancing the exoskeleton system market growth.
- Rising Adoption in Industrial and Military Sectors:
The increasing utilization of exoskeletons in the industrial and military sectors due to their ability to enhance human capabilities in physically demanding tasks is anticipated to drive the market growth.
Moreover, the rising need among workers to perform tasks that require repetitive lifting or strenuous labor, leading to fatigue and injuries is boosting the market growth. Exoskeleton systems provide support by augmenting strength, reducing strain on muscles and joints, and preventing workplace injuries.
Additionally, the exoskeleton systems market trends indicate that the increasing adoption of these systems by companies to boost productivity while ensuring worker safety, is contributing to the market growth.
Exoskeleton System Market Report Segmentation:
Breakup By Component:
Hardware
· Sensors
· Actuators
· Power Sources
· Control Systems
· Other Components
Software
Based on the component, the market has been classified into hardware (sensors, actuators, power sources, control systems, and other components) and software.
Breakup By Type:
· Powered
· Passive
On the basis of type, the market has been categorized into powered and passive.
Breakup By Mobility:
· Stationery
· Mobile
Based on the mobility, the market has been bifurcated into stationery and mobile.
Breakup By Body Part:
· Lower Body
· Upper Body
· Full Body
On the basis of body part, the market has been divided into lower body, upper body, and full body.
Breakup By End-Use Sector:
· Healthcare
· Defense
· Industrial
· Others
Based on the end-use sector, the market has been classified into healthcare, defense, industrial, and others.
Breakup By Region:
· North America
· Europe
· Asia Pacific
· Middle East and Africa
· Latin America
North America holds the leading position owing to a large market for exoskeleton system driven by its advanced healthcare infrastructure and significant investments in robotic technologies.
Top Exoskeleton System Market Leaders:
The exoskeleton system market research report outlines a detailed analysis of the competitive landscape, offering in-depth profiles of major companies.
Some of the key players in the market are:
· Bionik Laboratories Corp.
· SuitX (US Bionics, Inc.)
· Gogoa Mobility Robots, S.L.
· Exhauss Exoskeleton
· Atoun Inc.
· Fourier Intelligence Co. Ltd.
· Honda Motor Co., Ltd.
· Daiya Industry Co. Ltd.
· Mitsubishi Heavy Industries Ltd.
· Rex Bionics Ltd.
· Myomo Inc.
· Gobio Robot
· Parker Hannifin Corp.
· Wandercraft SAS
· P&S Mechanics Co. Ltd
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Key Highlights of the Report:
· Market Performance (2018-2023)
· Market Outlook (2024-2032)
· Market Trends
· Market Drivers and Success Factors
· Impact of COVID-19
· Value Chain Analysis
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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