Exoskeleton Market by Component (Hardware and Software), Type (Powered and Passive), Mobility (Stationary and Mobile), Body Part (Lower, Upper, and Full Body), Vertical (Healthcare, Defense, and Industrial), and Geography - Global Forecast to 2023
The exoskeleton market is expected to grow from USD 104.3 Million in 2016 to USD 2,810.5 Million by 2023, at a CAGR of 45.2% between 2017 and 2023. The market is mainly driven by the factors such as the growing demand from the healthcare sector for robotic rehabilitation, advancements in robotic technologies, and huge investments for the development of exoskeleton technology. For this study, the base year considered is 2016, and the forecast period is between 2017 and 2023.
The prime objectives of this report can be summarized as follows:
- To define, describe, segment, and forecast the global exoskeleton market, in terms of value and volume, on the basis of body part, component, type, mobility, vertical, and geography
- To forecast the market size, in terms of value, for the vertical segment with regard to 4 main regions: the Americas, Europe, Asia Pacific (APAC), and Rest of the World (RoW)
- To strategically analyze the micromarkets with regard to the individual growth trends, prospects, and contribution to the exoskeleton market
- To provide detailed information regarding the major factors (drivers, restraints, opportunities, and industry-specific challenges) influencing the growth of the market
- To analyze opportunities in the market for stakeholders and the details of the competitive landscape for leaders in the market
- To provide a detailed overview of the value chain in the exoskeleton ecosystem
The sizing of the exoskeleton market has been done using top-down and bottom-up approaches. The bottom-up approach has been employed to arrive at the overall size of the market from the revenues of key players (companies) and their shares in the market. Calculations are made on the basis of the number of exoskeletons used in each type of application. Finally, the volume is multiplied by the average selling price of each exoskeleton to arrive at the overall market size. In the top-down approach, the overall market size has been used to estimate the size of the individual markets (mentioned in the market segmentation) through percentage splits from secondary research (including the study of associations, databases, and journals). Major secondary sources include the International Federation of Robotics (IFR), the International Journal of Robotics Research, the Robotic Industries Association, and the Association for Advancing Automation. For the calculation of specific market segments, the most appropriate parent market size has been used to implement the top-down approach.
In the process of determining and verifying the market size for several segments and subsegments obtained through secondary research, extensive primary interviews have been conducted with key opinion leaders. The breakup of the profiles of primary participants is given below:
To know about the assumptions considered for the study, download the pdf brochure
Key players in the exoskeleton market are Bionik Laboratories (Canada), B-Temia (Canada), CYBERDYNE (Japan), Ekso Bionics (US), Focal Meditech (Netherlands), DIH Technologies (China), Hyundai Motor (South Korea), Lockheed Martin (US), Meditouch (Israel), Ottobock (Germany), ReWalk Robotics (Israel), Exhauss (France), Fourier Intelligence (China), GOGOA Mobility Robots (Spain), P&S Mechanics (South Korea), suitX (US), ATOUN (Japan), Daiya Industry Co. (Japan), Honda Motor (Japan), MITSUBISHI HEAVY INDUSTRIES (Japan), PARKER HANNIFIN (US), Rex Bionics (New Zealand), Gobio Robot (France), Myomo (US), and Wandercraft (France).
All these companies have robust R&D facilities and extensive sales offices and distribution channels. The products of these companies can be used across verticals for various applications. The report provides the competitive landscape of the key players, which indicates their growth strategies in the exoskeleton technology market.
Scope of the Report:
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Report Metric |
Details |
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Report Name |
Exoskeleton Market |
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Base year |
2016 |
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Forecast period |
20172023 |
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Units |
Value (USD) |
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Segments covered |
Type, End User, Offerings, and Region |
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Geographic regions covered |
North America, APAC, Europe, and RoW |
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Companies covered |
Bionik Laboratories (Canada), B-Temia (Canada), CYBERDYNE (Japan), Ekso Bionics (US), Focal Meditech (Netherlands), DIH Technologies (China), Hyundai Motor (South Korea), Lockheed Martin (US), Meditouch (Israel), Ottobock (Germany), ReWalk Robotics (Israel), Exhauss (France), Fourier Intelligence (China), GOGOA Mobility Robots (Spain), P&S Mechanics (South Korea), suitX (US), ATOUN (Japan), Daiya Industry Co. (Japan), Honda Motor (Japan), MITSUBISHI HEAVY INDUSTRIES (Japan), PARKER HANNIFIN (US), Rex Bionics (New Zealand), Gobio Robot (France), Myomo (US), and Wandercraft (France). |
Target Audience:
- Raw material and manufacturing equipment suppliers
- Electronic design automation (EDA) and design tool vendors
- Original equipment manufacturers (OEMs)
- Integrated device manufacturers (IDMs)
- Original design manufacturers (ODMs)
- ODM and OEM technology solution providers
- Assembly, testing, and packaging vendors
- Technology, service, and solution providers
- Intellectual property (IP) core and licensing providers
- Suppliers and distributors
- Government and other regulatory bodies
- Technology investors
- Research institutes and organizations
- Market research and consulting firms
The study answers several questions for the stakeholders, primarily which market segments to focus on in the next 25 years for prioritizing efforts and investments.
Scope of the Report:
The market covered in this report has been segmented as follows:
- Hardware
- Sensor
- Actuator
- Power Source
- Control System/Controller
- Others (Body Material and other Electronic, Electrical, and Mechanical Components)
- Software
- Powered
- Passive
- Stationary
- Mobile
- Lower Extremities
- Upper Extremities
- Full Body
- Exoskeleton Market, by Vertical
- Healthcare
- Defense
- Industrial
- Others (Construction, Search and Rescue, Space, Agriculture, Education, and Sports and Fitness)
- Exoskeleton Market, by Region
- Americas
- Europe
- APAC
- RoW
Exoskeleton Market, by Component
Exoskeleton Market, by Type
Exoskeleton Market, by Mobility
Exoskeleton Market, by Body Part
Available Customizations:
- Detailed analysis and profiling of additional market players on the basis of various blocks of the value chain
The exoskeleton market is expected to be valued at USD 299.8 Million in 2017 and is estimated to reach USD 2,810.5 Million by 2023, at a CAGR of 45.2% between 2017 and 2023. The market is mainly driven by the factors such as the growing demand from healthcare sector for robotic rehabilitation, advancements in robotic technologies, and huge investments for the development of exoskeleton technology.
The exoskeleton market is segmented on the basis of components into hardware and software. The hardware component is subsegmented into sensor, actuator, power source, control system/controller, and others. Other components include body material and other electronic, electrical, and mechanical components. The market for software is expected to grow at a higher CAGR during the forecast period. As technological advancements will lead to the growing complexity in terms of features such as inter-device connectivity, artificial intelligence (AI), and autonomous operations, the software segment is likely to gain more importance than that of the hardware segment in the overall market as software will assist the complex functionalities to process efficiently and accurately.
The exoskeleton market is segmented on the basis of types into powered and passive. The market for powered exoskeletons is expected to grow at a higher CAGR between 2017 and 2023. At present, powered exoskeletons are used mainly in the healthcare vertical to assist people with disabilities, but with the introduction of cost-effective system and because of its additional benefits over the passive ones, powered exoskeletons will find its way in several new verticals, ultimately resulting in the high growth of the segment during the forecast period.
The exoskeleton market is segmented by its mobility characteristics into stationary exoskeleton and mobile exoskeleton. The market for mobile exoskeletons is expected to grow at a higher CAGR between 2017 and 2023. The healthcare vertical is already a major consumer of mobile exoskeletons, and because of its added advantages, these exoskeletons can find applications in several new verticals such as defense, sports and fitness, and search and rescue.
Exoskeleton is a structural frame worn by a human operator. This frame forms a human autonomy, depending on which body parts are actuated or powered by exoskeleton devices. Various exoskeletons for humans have been designed for full body, upper extremities, and lower extremities. The lower body exoskeleton accounted for the largest share of the total exoskeleton market in 2016, whereas the market for full body exoskeletons is expected to grow at the highest CAGR during the forecast period.
The exoskeleton market has been segmented into the following 4 verticals: healthcare, defense, industrial, and others, which include construction, search and rescue, space, agriculture, education, and sports and fitness. The healthcare vertical accounted for the largest share of the market in 2016. The market for the defense vertical is expected to grow at the highest CAGR during the forecast period. Exoskeletons have the ability to assist soldiers on the field for lifting heavy weapons and to move faster and cover a larger area on the battlefield; hence, the defense sector of several nations is looking forward to deploying exoskeletons to strengthen its security.
The exoskeleton market is broadly classified on the basis of geographic regions into the Americas, Europe, APAC, and RoW. The market in APAC is expected to grow at the highest CAGR during the forecast period. APAC is likely to adopt exoskeletons for almost all major verticals such as healthcare, industrial, and defense during the forecast period. As the elderly and disabled population in APAC countries, such as China and Japan, is on the rise, the region is expected to employ exoskeletons for the rehabilitation and personal assistance applications.
Stringent government regulations pertaining to medical applications inhibit the exoskeleton market growth. Furthermore, high equipment cost has been a key challenge facing by the industry. However, factors such as increasing adoption of human augmentation in industrial and military sectors, introduction of soft actuators, and adoption of the exoskeleton technology by insurance companies in their plans can generate significant opportunities for this market.
Some key players in the exoskeleton market are Bionik Laboratories (Canada), B-Temia (Canada), CYBERDYNE (Japan), Ekso Bionics (US), Focal Meditech (Netherlands), DIH Technologies (China), Hyundai Motor (South Korea), Lockheed Martin (US), Meditouch (Israel), Ottobock (Germany), ReWalk Robotics (Israel), Exhauss (France), Fourier Intelligence (China), GOGOA Mobility Robots (Spain), P&S Mechanics (South Korea), suitX (US), ATOUN (Japan), Daiya Industry Co. (Japan), Honda Motor (Japan), MITSUBISHI HEAVY INDUSTRIES (Japan), PARKER HANNIFIN (US), Rex Bionics (New Zealand), Gobio Robot (France), Myomo (US), and Wandercraft (France).
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Table of Contents
1 Introduction (Page No. - 14)
1.1 Objectives of Study
1.2 Definition
1.3 Study Scope
1.3.1 Markets Covered
1.3.2 Geographic Scope
1.3.3 Years Considered for the Study
1.4 Currency
1.5 Limitations
1.6 Market Stakeholders
2 Research Methodology (Page No. - 18)
2.1 Research Data
2.1.1 Secondary Data
2.1.1.1 List of Major Secondary Sources
2.1.1.2 Key Data From Secondary Sources
2.1.2 Primary Data
2.1.2.1 Primary Interviews With Experts
2.1.2.2 Key Data From Primary Sources
2.1.2.3 Key Industry Insights
2.1.2.4 Breakdown of Primaries
2.1.3 Secondary and Primary Research
2.2 Market Size Estimation
2.2.1 Bottom-Up Approach
2.2.1.1 Approach for Capturing the Market Share By Bottom-Up Analysis (Demand Side)
2.2.2 Top-Down Approach
2.2.2.1 Approach for Capturing the Market Share By Top-Down Analysis (Supply Side)
2.3 Market Ranking Estimation
2.4 Market Breakdown and Data Triangulation
2.5 Research Assumptions
3 Executive Summary (Page No. - 29)
4 Premium Insights (Page No. - 34)
4.1 Attractive Opportunities in the Exoskeleton Market
4.2 Market in APAC, By Vertical and Country
4.3 Market, By Vertical
4.4 Market, By Component
4.5 Country-Wise Analysis of the Market
4.6 Market, By Region
5 Market Overview (Page No. - 39)
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Growing Demand From Healthcare Sector for Robotic Rehabilitation
5.2.1.2 Advancement in Robotic Technologies
5.2.1.3 Huge Investment for the Development of the Exoskeleton Technology
5.2.2 Restraints
5.2.2.1 Stringent Government Regulations Pertaining to Medical Applications
5.2.3 Opportunities
5.2.3.1 Increasing Adoption of Human Augmentation in Industrial and Military Sectors
5.2.3.2 Introduction of Soft Actuators
5.2.3.3 Adoption of the Technology By Insurance Companies in Their Plans
5.2.4 Challenges
5.2.4.1 High Equipment Cost
5.3 Value Chain Analysis
6 Exoskeleton Market, By Component (Page No. - 48)
6.1 Introduction
6.2 Hardware
6.2.1 Sensors
6.2.1.1 Gyroscope
6.2.1.2 Microphone
6.2.1.3 Accelerometer
6.2.1.4 Tilt Sensor
6.2.1.5 Force/Torque Sensor
6.2.1.6 Position Sensor
6.2.1.7 Others
6.2.2 Actuator
6.2.2.1 Electrical
6.2.2.2 Pneumatic
6.2.2.3 Hydraulic
6.2.2.4 Piezoelectric
6.2.3 Power Source
6.2.4 Control System/Controller
6.2.5 Others
6.3 Software
7 Exoskeleton Market, By Type (Page No. - 57)
7.1 Introduction
7.2 Powered
7.3 Passive
8 Exoskeleton Market, By Mobility (Page No. - 62)
8.1 Introduction
8.2 Stationary
8.3 Mobile
9 Exoskeleton Market, By Body Part (Page No. - 67)
9.1 Introduction
9.2 Lower Extremities
9.3 Upper Extremities
9.4 Full Body
10 Exoskeleton Market, By Vertical (Page No. - 73)
10.1 Introduction
10.2 Healthcare
10.3 Defense
10.4 Industrial
10.5 Others
11 Exoskeleton Market, By Region (Page No. - 83)
11.1 Introduction
11.2 Americas
11.2.1 US
11.2.2 Canada
11.2.3 Mexico
11.2.4 South America
11.3 Europe
11.3.1 Germany
11.3.2 France
11.3.3 UK
11.3.4 Italy
11.3.5 Rest of Europe
11.4 Asia Pacific
11.4.1 Japan
11.4.2 China
11.4.3 India
11.4.4 South Korea
11.4.5 Rest of APAC
11.5 Rest of the World
11.5.1 Middle East
11.5.2 Africa
12 Competitive Landscape (Page No. - 101)
12.1 Overview
12.2 Market Ranking Analysis
12.3 Competitive Scenario
12.3.1 Acquisitions, Partnerships, and Joint Ventures
12.3.2 Product Launches and Expansions
12.3.3 Agreements and Collaborations
13 Company Profiles (Page No. - 106)
13.1 Introduction
13.2 Key Players
(Business Overview, Products Offered, Strength of Product Portfolio, Business Strategy Excellence, Recent Developments, Key Relationships)*
13.2.1 Bionik Laboratories
13.2.2 B-Temia
13.2.3 Cyberdyne
13.2.4 Ekso Bionics
13.2.5 Focal Meditech
13.2.6 DIH Technologies
13.2.7 Lockheed Martin
13.2.8 Ottobock
13.2.9 Rewalk Robotics
13.2.10 Meditouch
*Details on Business Overview, Products Offered, Strength of Product Portfolio, Business Strategy Excellence, Recent Developments, Key Relationships Might Not Be Captured in Case of Unlisted Companies.
13.3 Key Innovators
13.3.1 Suitx
13.3.2 Exhauss
13.3.3 Gogoa Mobility Solutions
13.3.4 Fourier Intelligence
13.4 Other Key Players
13.4.1 Atoun
13.4.2 Daiya Industry Co.
13.4.3 Honda Motor
13.4.4 Mitsubishi Heavy Industries
13.4.5 Parker Hannifin
13.4.6 Rex Bionics
13.4.7 Gobio Robot
13.4.8 Myomo
13.4.9 Wandercraft
13.4.10 P&S Mechanics
13.4.11 Hyundai Motor
14 Appendix (Page No. - 140)
14.1 Discussion Guide
14.2 Knowledge Store: Marketsandmarkets Subscription Portal
14.3 Introducing RT: Real-Time Market Intelligence
14.4 Available Customizations
14.5 Related Reports
14.6 Author Details
List of Tables (65 Tables)
Table 1 Price of Famous Exoskeletons
Table 2 Exoskeleton technology Market, By Component, 20152023 (USD Million)
Table 3 Exoskeleton technology Market for Hardware, By Type, 20152023 (USD Million)
Table 4 Exoskeleton technology Market for Hardware, By Mobility, 20152023 (USD Million)
Table 5 Market for Hardware, By Body Part, 20152023 (USD Million)
Table 6 Exoskeleton Market, By Hardware, 20152023 (USD Million)
Table 7 Market for Software, By Type, 20152023 (USD Million)
Table 8 Market for Software, By Mobility, 20152023 (USD Million)
Table 9 Market for Software, By Body Part, 20152023 (USD Million)
Table 10 Market, By Type, 20152023 (USD Million)
Table 11 Market, By Type, 20152023 (Units)
Table 12 Market for Powered, By Component, 20152023 (USD Million)
Table 13 Market for Powered, By Vertical, 20152023 (USD Million)
Table 14 Market for Passive, By Component, 20152023 (USD Million)
Table 15 Market for Passive, By Vertical, 20152023 (USD Million)
Table 16 Exoskeleton technology Market, By Mobility, 20152023 (USD Million)
Table 17 Market, By Mobility, 20152023 (Units)
Table 18 Market for Stationary, By Component, 20152023 (USD Million)
Table 19 Market for Stationary, By Vertical, 20152023 (USD Million)
Table 20 Market for Mobile, By Component, 20152023 (USD Million)
Table 21 Exoskeleton Market for Mobile, By Vertical, 20152023 (USD Million)
Table 22 Exoskeleton technology Market, By Body Part, 20152023 (USD Million)
Table 23 Exoskeleton technology Market, By Body Part, 20152023 (Units)
Table 24 Market for Lower Extremities, By Component, 20152023 (USD Million)
Table 25 Market for Lower Extremities, By Vertical, 20152023 (USD Million)
Table 26 Market for Upper Extremities, By Component, 20152023 (USD Million)
Table 27 Market for Upper Extremities, By Vertical, 20152023 (USD Million)
Table 28 Exoskeleton Market for Full Body, By Component, 20152023 (USD Million)
Table 29 Market for Full Body, By Vertical, 20152023 (USD Million)
Table 30 Exoskeleton Market, By Vertical, 20152023 (USD Million)
Table 31 Exoskeleton Market, By Vertical, 20152023 (Units)
Table 32 Exoskeleton Market for Healthcare, By Type, 20152023 (USD Million)
Table 33 Market for Healthcare, By Mobility, 20152023 (USD Million)
Table 34 Exoskeleton Market for Healthcare, By Body Part, 20152023 (USD Million)
Table 35 Market for Healthcare, By Region, 20152023 (USD Million)
Table 36 Market for Defense, By Type, 20152023 (USD Million)
Table 37 Exoskeleton technology Market for Defense, By Mobility, 20152023 (USD Million)
Table 38 Exoskeleton Market for Defense, By Body Part, 20152023 (USD Million)
Table 39 Exoskeleton technology Market for Defense, By Region, 20152023 (USD Million)
Table 40 Exoskeleton Market for Industrial, By Type, 20152023 (USD Million)
Table 41 Exoskeleton Market for Industrial, By Mobility, 20152023 (USD Million)
Table 42 Exoskeleton technology Market for Industrial, By Body Part, 20152023 (USD Million)
Table 43 Exoskeleton technology Market for Industrial, By Region, 20152023 (USD Million)
Table 44 Market for Others, By Type, 20152023 (USD Million)
Table 45 Market for Others, By Mobility, 20152023 (USD Million)
Table 46 Exoskeleton technology Market for Others, By Body Part, 20152023 (USD Million)
Table 47 Market for Others, By Region, 20152023 (USD Million)
Table 48 Market, By Region, 20152023 (USD Million)
Table 49 Market, By Region, 20152023 (Units)
Table 50 Exoskeleton Market in the Americas, By Vertical, 20152023 (USD Million)
Table 51 Exoskeleton technology Market in the Americas, By Country, 20152023 (USD Million)
Table 52 Exoskeleton technology Market in the Americas, By Country, 20152023 (Units)
Table 53 Exoskeleton technology Market in Europe, By Vertical, 20152023 (USD Million)
Table 54 Exoskeleton technology Market in Europe, By Country, 20152023 (USD Million)
Table 55 Exoskeleton technology Market in Europe, By Country, 20152023 (Units)
Table 56 Exoskeleton technology Market in APAC, By Vertical, 20152023 (USD Million)
Table 57 Exoskeleton technology Market in APAC, By Country, 20152023 (USD Million)
Table 58 Exoskeleton technology Market in APAC, By Country, 20152023 (Units)
Table 59 Exoskeleton technology Market in RoW, By Vertical, 20152023 (USD Million)
Table 60 Exoskeleton technology Market in RoW, By Country, 20152023 (USD Million)
Table 61 Exoskeleton technology Market in RoW, By Country, 20152023 (Units)
Table 62 Top 5 Players in the Exoskeleton Market, 2016
Table 63 10 Most Recent Acquisitions, Partnerships, and Joint Ventures of the Market
Table 64 10 Most Recent Product Launches and Expansions in the Market
Table 65 5 Most Recent Agreements and Collaborations in the Market
List of Figures (37 Figures)
Figure 1 Exoskeleton Market: Research Design
Figure 2 Process Flow
Figure 3 Market Size Estimation Methodology: Bottom-Up Approach
Figure 4 Market Size Estimation Methodology: Top-Down Approach
Figure 5 Exoskeleton Market Breakdown & Data Triangulation
Figure 6 Assumptions of the Research Study
Figure 7 Market for Powered Type, Lower Extremity Body Parts, and Mobile Mobility Exoskeleton Accounted for Higher Shares of the Overall Exoskeleton Market in 2017
Figure 8 Hardware Expected to Hold A Larger Share of the Exoskeleton technology Market Throughout the Forecast Period
Figure 9 Exoskeleton technology Market for Industrial and Defense Vertical to Grow at Highest CAGR During Forecast Period
Figure 10 APAC Likely to Be the Fastest-Growing Exoskeleton technology Market During the Forecast Period
Figure 11 Advancement in Robotic Technologies Driving the Exoskeleton technology Market Growth During the Forecast Period
Figure 12 Healthcare Vertical is Expected to Account for the Largest Market Share in APAC in 2017
Figure 13 Healthcare Vertical is Expected to Dominate the Market During the Forecast Period
Figure 14 Actuator Expected to Hold the Largest Share of the Market During the Forecast Period
Figure 15 US Expected to Account for the Largest Share of the Market in 2017
Figure 16 Market in APAC Expected to Grow at the Highest CAGR During the Forecast Period
Figure 17 Growing Demand From the Healthcare Sector for Rehabilitation is Driving the Market
Figure 18 Aging Population, By Region
Figure 19 Statistics of Disabled People in the Us
Figure 20 Value Chain Analysis: Major Value Added During the Original Equipment Manufacturing Phase
Figure 21 Market for Software to Grow at A Higher CAGR During the Forecast Period
Figure 22 Sensor to Grow at the Highest CAGR in the Market for Hardware During the Forecast Period
Figure 23 Market for Powered Exoskeletons to Grow at A Higher CAGR During the Forecast Period
Figure 24 Market for Mobile Exoskeleton to Grow at A Higher CAGR During the Forecast Period
Figure 25 Exoskeleton Market for Full Body Exoskeleton to Grow at the Highest CAGR During the Forecast Period
Figure 26 Market for the Defense Vertical to Grow at the Highest CAGR During the Forecast Period
Figure 27 Market: Geographic Snapshot
Figure 28 Americas: Exoskeleton technology Market Snapshot
Figure 29 Europe: Exoskeleton technology Market Snapshot
Figure 30 APAC: Exoskeleton technology Market Snapshot
Figure 31 RoW: Exoskeleton technology Market Snapshot
Figure 32 Product Launches and Expansions are the Key Growth Strategies Adopted By the Players Between January 2015 and September 2017
Figure 33 Exoskeleton technology Market Evaluation Framework
Figure 34 Cyberdyne: Company Snapshot
Figure 35 Ekso Bionics: Company Snapshot
Figure 36 Lockheed Martin: Company Snapshot
Figure 37 Rewalk Robotics: Company Snapshot
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