Exoskeleton Market with COVID-19 Impact by Type (Powered, Passive), Component (Hardware, Software), Mobility, Body Part (Lower Extremities, Upper Extremities, Full Body), Vertical (Healthcare, Defense, Industrial) and Region - Global Forecast to 2026
[201 Pages Report] The exoskeleton market is valued at USD 499 million in 2021 and is projected to reach USD 3,340 million by 2026; it is expected to grow at a CAGR of 46.2% from 2021 to 2026.
Although exoskeletons have been in existence for a long time, the market for exoskeletons is growing owing to factors such as growing demand from the healthcare sector for robotic rehabilitation, advancements in robotic technologies, and huge investments for the development of exoskeleton technology.
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Exoskeleton market
The exoskeleton market includes major Tier I and II players like Ottobock (Germany), DIH Medical (China), CYBERDYNE (Japan), Ekso Bionics. (US), Lockheed Martin Corporation (US) and others.
Exoskeleton market dynamics
Driver: Growing demand from the healthcare sector for robotic rehabilitation
Robot-assisted therapy systems are being increasingly used in rehabilitation processes as they provide countless benefits in performing repeated movements during goal-directed tasks, the evaluation of different physiological and functional parameters during rehabilitation exercises, improving motivation, and assisting home exercises and training.
The use of exoskeletons for such purposes has grown, in part, due to the increase in the number of people with physical disabilities, especially the geriatric population. According to the Statistics Bureau of Japan, in 2019, the population aged 65 years and above was 35.89 million, constituting 28.4% of the total population (i.e., 1 in every 4 people)—marking a record high. It not only implies that there are more potential users for humanoid robots but also signifies that the number of active people to look after the elderly and disabled would be few. Even in North America, it is estimated by the Administration on Aging (AOA) that over the past 10 years, the population aged 65 and above increased from 38.8 million in 2008 to 52.4 million in 2018 (a 35% increase) and is projected to reach 94.7 million in 2060.
Restraint: Regulatory challenges for securing approvals for medical applications of exoskeletons
User safety and device reliability are the main concerns in the development and regulation of medical devices. Manufacturers’ skills and expertise pertaining to technical designing can matter during the testing of the product. The malfunctioning of a medical device can lead to life-threatening consequences, and hence, exoskeletons developed for healthcare applications need to be thoroughly examined. Currently, there are a few standards that are directly applicable to the exoskeleton industry. The FDA recognizes ISO standards that are applicable to relevant industries, and only products that receive regulatory approvals can be sold in the market.
Opportunity: Increasing adoption of human augmentation equipment in industrial and military sectors
Years of research has resulted in the transformation of load systems into human augmentation equipment. As exoskeleton systems can enhance powerlifting, load carrying, and endurance functions; the market has received a series of funding from the department of defense of several nations. Also, the market for exoskeletons is exhibiting an upbeat growth outlook, which, coupled with growing awareness about these devices in different fields, is attracting more investments in the industry—especially from private venture capitalists. Various exoskeletons developed to date are effectively designed and tested for mechanical structure (accessories such as guns, dead weight, devices, and others) and support soldiers in augmenting main body strength. Also, exoskeletons provide very strong load-supporting assistance with the freedom of decoupling the load at the same time. Such features of exoskeletons aid soldiers in carrying heavy loads. Several companies that are engaged in providing exoskeletons for military applications include Lockheed Martin (US), B-Temia (Canada), Bionic Power (Canada), Fourier Intelligence (China), and suitX (US).
Challenge: High equipment cost
Technological advancements have played a big role in the development of cost-efficient and affordable exoskeletons; however, they are yet to reach their market potential. The degree of usability of exoskeletons is a big issue being faced by the industry as exoskeletons are slow and cumbersome. Cost acts as a barrier for the adoption of exoskeletons for rehabilitation among people with disabilities in low-income countries. A patient with a lower limb disability will have to pay a high price for an exoskeleton power suit for robotic rehabilitation, along with the supervision session conducted by physiotherapists, who are trained to work with power suits. A patient will have to pay for the exoskeleton and other standard medical expenses such as surgery and hospital stay, making the use of the exoskeleton incredibly expensive. Hence, the companies in the industry are focusing on R&D to develop cost-efficient exoskeleton solutions.
Market for powered exoskeletons to grow at higher CAGR during the forecast period
Powered exoskeletons accounted for the larger share of the overall exoskeleton market in 2020. The high cost of powered exoskeletons leads to a higher market share of the technology compared to passive exoskeletons. At present, powered exoskeletons are mainly used in the healthcare vertical to assist people with disabilities, but with the introduction of cost-efficient systems and because of their additional benefits over the passive ones, powered exoskeletons will find their applications in several new verticals, ultimately resulting in the high growth of the segment during the forecast period.
Exoskeleton market for software to hold the highest CAGR from 2021 to 2026
The software segment is expected to grow at a higher CAGR during the forecast period. Technological advancements will lead to an increase in complexities in exoskeletons in terms of inter-device connectivity, artificial intelligence (AI), and autonomous operations; the value of software in the overall exoskeleton market will increase more than that of hardware, as the software will assist such complex functionalities in processing efficiently and accurately. At present, a number of software packages suited to ergonomic simulation are available in the market. In response to the limitations of traditional design tools, software providers now offer a number of 3D CAD software packages for exoskeletons. These digital human modeling (DHM) software tools enable models of humans to interact with virtual products and workplaces in a CAD environment. Developers have boosted modeling and simulation capabilities, enabling designers to develop exoskeletons with better cost efficiency for broader adoption.
Mobile exoskeleton segment to hold highest market share during the forecast period
Mobile exoskeletons accounted for the larger share of the overall exoskeleton market in 2020 and the segment is expected to grow at a higher CAGR from 2021 to 2026. The basic purpose of using exoskeletons is to provide mobility to people, which can be achieved only by using mobile exoskeletons; hence, the demand for mobile exoskeletons is more than the stationary ones. Lower extremity exoskeletons developed for human locomotion assistance are used to help patients who have completely lost mobility in the lower limbs due to conditions such as spinal cord injury (SCI), multiple sclerosis, etc. Some of the most widely used mobile exoskeleton technologies developed for users who have lower-limb mobility impairments are ReWalk, Rex, Indego, Ekso, HAL, Atlas, and others. The application of stationary exoskeletons is limited only to therapies related to healthcare or is used for training purposes in some other verticals. The healthcare vertical is a major consumer of mobile exoskeletons. These exoskeletons are also being adopted across new application areas such as defense, sports and fitness, and search and rescue due to the growing visibility of the benefits offered by them.
Exoskeleton market for lower extremities to capture highest market share from 2021 to 2026
The lower extremities segment is anticipated to account for the largest share of the market share during the forecast period, followed by the upper body segment. Most exoskeletons are designed to help a user with mobility issues. The most common mobility issues are associated with problems in the lower half of the body. Thus, the demand for lower-body exoskeletons is relatively high. Lower-body exoskeletons are used in the healthcare vertical, which is the largest vertical in the exoskeleton market, to provide mobility to people with disabilities. They can also be used in several other applications, such as to assist soldiers on a battlefield or to enhance the speed and coverage of a player. Hence, the lower extremities segment will continue to account for the largest share of the exoskeleton market throughout the forecast period.
Exoskeleton market across defense vertical to grow at the highest rate from 2021 to 2026
The defense segment is expected to grow at the highest CAGR during the forecast period. Exoskeletons have the ability to assist soldiers on the field in lifting heavy weapons and to move faster and cover a larger area on the battlefield; hence, several countries are looking forward to deploying exoskeletons in their defense applications to strengthen their security. Technological advancements in exoskeletons are the main driving factors for the growth of the exoskeleton market for defense applications. Concrete efforts are being made to further increase the efficiency of exoskeletons for military applications through the incorporation of newer technologies, which are expected to further propel the growth of the market in the years to come.
Exoskeleton market in APAC to grow at the highest rate from 2021 to 2026
The exoskeleton market in APAC is expected to grow at the highest rate during the forecast period. APAC is likely to adopt exoskeletons across almost all major verticals such as healthcare, industrial, and defense during the forecast period. With an increase in the population of elderly and disabled persons in APAC, especially in China and Japan, the adoption of exoskeletons for rehabilitation and personal assistance applications is anticipated to increase remarkably. Moreover, APAC is the manufacturing hub of various industries; hence, growing industrial automation in APAC will generate a huge demand for exoskeletons. Also, China and South Korea are increasing their spending on the defense sector to stay competitive and enhance their defense mechanism. These countries are likely to deploy exoskeletons for military applications in the near future to counter the impact of nuclear wars. Furthermore, government support for the development of robotics would also support the growth of the exoskeleton market in APAC.
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Key Market Players
The exoskeleton market is dominated by players such as Ottobock (Germany), DIH Medical (China), CYBERDYNE (Japan), Ekso Bionics (US), and Lockheed Martin Corporation (US).
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Report Metric |
Details |
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Market size available for years |
2017-2026 |
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Base year considered |
2017 |
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Forecast period |
2021-2026 |
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Forecast units |
Value (USD Million/Billion) |
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Segments covered |
By Component, By Type, By Mobility, By Body Part, By Vertical |
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Geographies covered |
North America, Europe, APAC, and RoW |
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Companies covered |
The major market players Ottobock (Germany), DIH Medical (China), CYBERDYNE (Japan), Ekso Bionics. (US), Lockheed Martin Corporation (US), ATOUN. (Japan), BIONIK (Canada), B-Temia (Canada), MediTouch (Israel), ReWalk Robotics (US) (Total 25 players are profiled) |
The study categorizes the exoskeleton market based on type, product, technology, and application at the regional and global levels.
Exoskeleton market, By Component
- Hardware
- Software
Exoskeleton market, By Type
- Powered
- Passive
Exoskeleton market, By Mobility
- Stationary
- Mobile
Exoskeleton market, By Body part
- Lower Extremities
- Upper Extremities
- Full Body
Exoskeleton market, By Vertical
- Healthcare
- Defense
- Industrial
- Others
Exoskeleton market, By Region
- North America
- Europe
- APAC
- RoW
Recent Developments
- In April 2021, Ottobock launched the Paexo Shoulder Jacket, Paexo Cool Sleeve, and Paexo Thumb Slim at the Hannover Messe Digital Edition 2021 event. These devices provide significant relief for the body during strenuous activities such as overhead work or lifting packages.
- In March 2021, CYBERDYNE received medical device approval from Thai Food and Medical Products Approval Authority (Thai FDA) for HAL Single Joint Type. The product is for patients with reduced mobility in the upper and lower limbs due to muscle weakness or paralysis.
- In March 2021, DIH entered into a strategic partnership agreement with Reha Technology. Under this agreement, DIH agreed to take over the distribution of Reha Technology’s robotics products and promote and distribute Reha Technology´s end-effector-based gait therapy devices in key markets such as Switzerland, Germany, and the US.
- In March 2021, Ekso Bionics announced a partnership with US Physiatry (USP) to educate physicians on the clinical benefits of an EksoNR exoskeleton. USP is the largest in-patient physician practice in the US, focused exclusively on physical medicine and rehabilitation.
- In March 2021, CYBERDYNE and Jiksak Bioengineering, Inc. (Kawasaki, Kanagawa, Japan), a company that develops neuron-related technologies, formed a capital and business alliance (CYBERDYNE’s investment in Jiksak).
- In December 2020, Motek Medical, a subsidiary of DIH, and Monitored Rehab System joined forces to launch a new complete solution for the treatment of mobility problems caused by neurological or orthopedic conditions or long-term immobilization.
- In October 2020, DIH entered into a strategic agreement with Gorbel Industries, an innovative developer and manufacturer of smart material handling and fall protection systems.
Frequently Asked Questions (FAQ):
What is the market size for the exoskeleton market?
The exoskeleton market is valued at USD 499 million in 2021 and is projected to reach USD 3,340 million by 2026; it is expected to grow at a CAGR of 46.2% from 2021 to 2026.
What are the major driving factors and opportunities in the exoskeleton market?
Growing demand from the healthcare sector for robotic rehabilitation, advancements in robotic technologies, and huge investments for the development of exoskeleton technology are driving the growth of the Exoskeleton market.
Who are the leading players in the global exoskeleton market?
Companies such as Ottobock (Germany), DIH Medical (China), CYBERDYNE (Japan), Ekso Bionics. (US), Lockheed Martin Corporation (US) are the leading players in the market. Moreover, these companies rely on strategies that include new product launches and developments, partnership and collaborations, and contracts. Such advantages give these companies an edge over other companies in the market.
What is the COVID-19 impact on the exoskeleton market?
According to discussions with various primary respondents, the impact of COVID-19 on the exoskeleton market has been considered to be for a short-to-medium term; hence, it has been assumed that COVID-19 prevailed from the first quarter of 2020 to its fourth quarter.
What are some of the technological advancements in the market?
The exoskeleton industry has developed soft exoskeletons without electronic motors and heavy batteries, which augment normal muscle function in healthy individuals. Such exoskeletons have soft actuators that can be easily driven by an off-board compressor. These exoskeletons are attached to the body securely and comfortably and transmit forces over the body through beneficial paths—such that biologically appropriate moments are created at the joints. Compared to the traditional ones, these exoskeletons are ultra-light and have low mechanical impedance and inertia. The use of soft actuators has led to the development of inexpensive gait-supportive exoskeletons, creating opportunities for new players in the industry. .
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TABLE OF CONTENTS
1 INTRODUCTION (Page No. - 26)
1.1 STUDY OBJECTIVES
1.2 DEFINITION
1.3 STUDY SCOPE
1.3.1 EXOSKELETON MARKET SEGMENTATION
1.3.2 GEOGRAPHIC SCOPE
1.4 INCLUSIONS AND EXCLUSIONS
1.5 YEARS CONSIDERED
1.6 CURRENCY
1.7 STAKEHOLDERS
1.8 SUMMARY OF CHANGES
2 RESEARCH METHODOLOGY (Page No. - 30)
2.1 RESEARCH DATA
FIGURE 1 EXOSKELETON MARKET: PROCESS FLOW OF MARKET SIZE ESTIMATION
FIGURE 2 EXOSKELETON MARKET: RESEARCH DESIGN
2.1.1 SECONDARY DATA
TABLE 1 LIST OF MAJOR SECONDARY SOURCES
2.1.1.1 Key data from secondary sources
2.1.2 PRIMARY DATA
2.1.2.1 Key industry insights
2.1.2.2 Breakdown of primaries
TABLE 2 KEY DATA FROM PRIMARY SOURCES
2.2 MARKET SIZE ESTIMATION
FIGURE 3 MARKET SIZE ESTIMATION METHODOLOGY: SUPPLY-SIDE ANALYSIS
FIGURE 4 MARKET SIZE ESTIMATION METHODOLOGY: APPROACH 2 (SUPPLY SIDE) – IDENTIFICATION OF REVENUES GENERATED BY COMPANIES FROM EXOSKELETON OFFERINGS
2.2.1 BOTTOM-UP APPROACH
2.2.1.1 Approach for arriving at market size using bottom-up analysis (demand side)
FIGURE 5 EXOSKELETON MARKET: BOTTOM-UP APPROACH
FIGURE 6 MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH FOR ESTIMATING SIZE OF EXOSKELETON MARKET
2.2.2 TOP-DOWN APPROACH
2.2.2.1 Approach for arriving at market size using top-down analysis (supply side)
FIGURE 7 EXOSKELETON MARKET: TOP-DOWN APPROACH
2.3 MARKET BREAKDOWN AND DATA TRIANGULATION
FIGURE 8 DATA TRIANGULATION METHODOLOGY
2.4 RESEARCH ASSUMPTIONS
FIGURE 9 STUDY ASSUMPTIONS
2.5 LIMITATIONS
2.6 RISK ASSESSMENT
TABLE 3 LIMITATIONS & ASSOCIATED RISKS
3 EXECUTIVE SUMMARY (Page No. - 43)
FIGURE 10 MARKET FOR POWERED EXOSKELETONS TO GROW AT HIGHER CAGR DURING FORECAST PERIOD
FIGURE 11 EXOSKELETON MARKET FOR SOFTWARE TO GROW AT HIGHER CAGR DURING FORECAST PERIOD
FIGURE 12 MARKET FOR MOBILE EXOSKELETONS TO GROW AT HIGHER CAGR DURING FORECAST PERIOD
FIGURE 13 FULL BODY SEGMENT TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD
FIGURE 14 EXOSKELETON MARKET FOR DEFENSE TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD
FIGURE 15 EXOSKELETON MARKET IN APAC TO GROW AT HIGHEST CAGR FROM 2021 TO 2026
4 PREMIUM INSIGHTS (Page No. - 49)
4.1 ATTRACTIVE OPPORTUNITIES IN EXOSKELETON MARKET
FIGURE 16 RISING DEMAND FOR HUMAN AUGMENTATION EQUIPMENT WILL DRIVE IMPLEMENTATION OF EXOSKELETONS ACROSS INDUSTRIAL AND MILITARY VERTICALS
4.2 EXOSKELETON MARKET IN NORTH AMERICA, BY COUNTRY AND TYPE
FIGURE 17 US AND POWERED SEGMENTS ARE EXPECTED TO LEAD NORTH AMERICAN EXOSKELETON MARKET IN 2021
4.3 EXOSKELETON MARKET IN APAC REGION, BY VERTICAL
FIGURE 18 HEALTHCARE VERTICAL TO HOLD LARGEST SHARE OF EXOSKELETON MARKET IN APAC DURING FORECAST PERIOD
4.4 EXOSKELETON MARKET, BY COUNTRY
FIGURE 19 EXOSKELETON MARKET IN CHINA TO GROW AT HIGHEST CAGR FROM 2021 TO 2026
5 MARKET OVERVIEW (Page No. - 52)
5.1 INTRODUCTION
5.2 MARKET DYNAMICS
FIGURE 20 GROWING DEMAND FROM THE HEALTHCARE SECTOR FOR REHABILITATION IS DRIVING THE EXOSKELETON MARKET
FIGURE 21 IMPACT ANALYSIS OF DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES IN EXOSKELETON MARKET
5.2.1 DRIVERS
5.2.1.1 Growing demand from healthcare sector for robotic rehabilitation
FIGURE 22 AGING POPULATION, BY REGION
5.2.1.2 Advancements in robotic technologies
5.2.1.3 Huge investments for development of exoskeleton technology
5.2.2 RESTRAINTS
5.2.2.1 Regulatory challenges for securing approvals for medical applications of exoskeletons
5.2.3 OPPORTUNITIES
5.2.3.1 Increasing adoption of human augmentation equipment in industrial and military sectors
5.2.3.2 Introduction of soft actuators
5.2.3.3 Growing insurance coverage for exoskeletons
5.2.4 CHALLENGES
5.2.4.1 High equipment cost
TABLE 4 PRICE OF FAMOUS EXOSKELETONS
5.3 VALUE CHAIN ANALYSIS
FIGURE 23 VALUE CHAIN ANALYSIS OF EXOSKELETON MARKET
5.4 EXOSKELETON ECOSYSTEM
FIGURE 24 EXOSKELETON MARKET ECOSYSTEM
TABLE 5 EXOSKELETON MARKET SUPPLY CHAIN
5.5 PORTER’S FIVE FORCES ANALYSIS
TABLE 6 EXOSKELETON MARKET: PORTER’S FIVE FORCES ANALYSIS
5.5.1 DEGREE OF COMPETITION
5.5.2 BARGAINING POWER OF SUPPLIERS
5.5.3 BARGAINING POWER OF BUYERS
5.5.4 THREAT OF SUBSTITUTES
5.5.5 THREAT OF NEW ENTRANTS
5.6 CASE STUDIES FOR EXOSKELETON MARKET
5.6.1 EKSO BIONICS IMPROVES PATIENT MOBILITY WITH HELP OF VODAFONE MANAGED IOT CONNECTIVITY PLATFORM
5.6.2 RLS MAGNETIC ENCODERS ENABLED MARSI BIONICS TO DESIGN AND BUILD EXOSKELETON ORTHOPAEDIC DEVICES
5.6.3 POLYCLINIC GLAVIC IN ZAGREB MET ITS CHALLENGES BY PARTNERING WITH HOCOMA
5.6.4 EKSO BIONICS EXOSKELETONS HELPED FORD MOTOR COMPANY TO IMPROVE WORKPLACE PRODUCTIVITY
5.7 TECHNOLOGY ANALYSIS
5.8 AVERAGE SELLING PRICE (ASP) TREND ANALYSIS
FIGURE 25 AVERAGE SELLING PRICE OF EXOSKELETON, BY TYPE (USD)
5.9 TRADE ANALYSIS
TABLE 7 EXPORT DATA FOR HS CODE: 847950, BY COUNTRY, 2016–2020 (USD THOUSAND)
TABLE 8 IMPORT DATA FOR HS CODE: 847950, BY COUNTRY, 2016–2020 (USD THOUSAND)
5.10 PATENT ANALYSIS
5.11 TARIFFS & REGULATIONS
5.11.1 TARIFFS RELATED TO EXOSKELETON MARKET
TABLE 9 ESTIMATED SHIPMENT OF EXOSKELETON, BY VERTICAL, 2020–2026 (UNITS)
TABLE 10 ESTIMATED SHIPMENT OF EXOSKELETONS, BY REGION, 2020–2026 (UNITS)
5.11.2 STANDARDS AND REGULATIONS RELATED TO EXOSKELETON MARKET
5.12 TRENDS/DISRUPTIONS IMPACTING CUSTOMER BUSINESSES
FIGURE 26 REVENUE SHIFT FOR EXOSKELETON MARKET
6 EXOSKELETON MARKET, BY COMPONENT (Page No. - 73)
6.1 INTRODUCTION
FIGURE 27 EXOSKELETON MARKET FOR SOFTWARE TO GROW AT A HIGHER CAGR DURING THE FORECAST PERIOD
TABLE 11 MARKET, BY COMPONENT, 2017–2020 (USD MILLION)
TABLE 12 MARKET, BY COMPONENT, 2021–2026 (USD MILLION)
6.2 HARDWARE
TABLE 13 MARKET FOR HARDWARE, BY TYPE, 2017–2020 (USD MILLION)
TABLE 14 MARKET FOR HARDWARE, BY TYPE, 2021–2026 (USD MILLION)
6.2.1 SENSORS
6.2.1.1 Sensors help exoskeletons to acquire knowledge about surrounding environment
6.2.1.2 Gyroscopes
6.2.1.2.1 Gyroscopes are used in exoskeletons for orientation and rotation measurements
6.2.1.3 Microphones
6.2.1.3.1 Microphones assist exoskeletons in sound source localization by separating unwanted sound signals from other positions
6.2.1.4 Accelerometers
6.2.1.4.1 Accelerometers are integrated into exoskeletons for measurement of non-gravitational acceleration forces
6.2.1.5 Tilt sensors
6.2.1.5.1 Tilt sensors are used in exoskeletons to measure tilt angle with respect to earth’s ground plane
6.2.1.6 Force/torque sensors
6.2.1.6.1 Force/torque sensors help exoskeletons control interaction with objects in manipulation tasks
6.2.1.7 Position sensors
6.2.1.7.1 Position sensors are used to measure distance traveled by exoskeletons from their origin
6.2.1.8 Others
6.2.2 ACTUATORS
6.2.2.1 Actuators are used to set systems in motion and control their mechanism
6.2.2.2 Electrical
6.2.2.2.1 Electrical actuators use motors to convert electrical energy into mechanical energy
6.2.2.3 Pneumatic
6.2.2.3.1 Pneumatic actuators convert electric energy into mechanical motion and are similar in operation to capacitors
6.2.2.4 Hydraulic
6.2.2.4.1 Hydraulic actuators are used in exoskeleton applications where heavy force and speed are required
6.2.2.5 Piezoelectric
6.2.2.5.1 Piezoelectric actuators use converse piezoelectric effect for precise positioning of systems, ultrasonic actuators, and microactuators in exoskeletons
6.2.3 POWER SOURCES
6.2.3.1 Exoskeletons mainly use lead-acid batteries, fuel cells, and lithium-ion batteries for electrical connectivity
6.2.4 CONTROL SYSTEMS/CONTROLLERS
6.2.4.1 Controllers allow all parts of exoskeletons to operate together
6.2.5 OTHERS
6.3 SOFTWARE
6.3.1 SOFTWARE HELP TO PROGRAM EXOSKELETONS ACCORDING TO TASKS REQUIRED TO BE PERFORMED BY THEM
TABLE 15 MARKET FOR SOFTWARE, BY TYPE, 2017–2020 (USD MILLION)
TABLE 16 MARKET FOR SOFTWARE, BY TYPE, 2021–2026 (USD MILLION)
7 EXOSKELETON MARKET, BY TYPE (Page No. - 81)
7.1 INTRODUCTION
FIGURE 28 MARKET FOR POWERED EXOSKELETONS TO GROW AT HIGHER CAGR DURING FORECAST PERIOD
TABLE 17 MARKET, BY TYPE, 2017–2020 (USD MILLION)
TABLE 18 MARKET, BY TYPE, 2021–2026 (USD MILLION)
TABLE 19 MARKET, BY TYPE, 2017–2020 (UNITS)
TABLE 20 MARKET, BY TYPE, 2021–2026 (UNITS)
7.2 POWERED
7.2.1 POWERED EXOSKELETONS ARE USUALLY POWERED BY ELECTRIC MOTORS, ACTUATORS, SENSORS, AND BATTERIES
TABLE 21 EXOSKELETON MARKET FOR POWERED, BY COMPONENT, 2017–2020 (USD MILLION)
TABLE 22 MARKET FOR POWERED, BY COMPONENT, 2021–2026 (USD MILLION)
FIGURE 29 DEFENSE APPLICATION FOR POWERED EXOSKELETONS TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD
TABLE 23 MARKET FOR POWERED, BY VERTICAL, 2017–2020 (USD MILLION)
TABLE 24 MARKET FOR POWERED, BY VERTICAL, 2021–2026 (USD MILLION)
TABLE 25 MARKET FOR POWERED, BY REGION, 2017–2020 (USD MILLION)
TABLE 26 MARKET FOR POWERED, BY REGION, 2021–2026 (USD MILLION)
7.3 PASSIVE
7.3.1 PASSIVE EXOSKELETONS REQUIRE NO ELECTRIC POWER AND ARE SIMPLER IN COMPARISON TO POWERED EXOSKELETONS
TABLE 27 EXOSKELETON MARKET FOR PASSIVE, BY COMPONENT, 2017–2020 (USD MILLION)
TABLE 28 MARKET FOR PASSIVE, BY COMPONENT, 2021–2026 (USD MILLION)
TABLE 29 MARKET FOR PASSIVE, BY VERTICAL, 2017–2020 (USD MILLION)
TABLE 30 MARKET FOR PASSIVE, BY VERTICAL, 2021–2026 (USD MILLION)
TABLE 31 MARKET FOR PASSIVE, BY REGION, 2017–2020 (USD MILLION)
TABLE 32 MARKET FOR PASSIVE, BY REGION, 2021–2026 (USD MILLION)
7.4 IMPACT OF COVID-19
8 EXOSKELETON MARKET, BY BODY PART (Page No. - 89)
8.1 INTRODUCTION
FIGURE 30 FULL BODY SEGMENT TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD
TABLE 33 MARKET, BY BODY PART, 2017–2020 (USD MILLION)
TABLE 34 MARKET, BY BODY PART, 2021–2026 (USD MILLION)
8.2 LOWER EXTREMITIES
8.2.1 LOWER EXTREMITY EXOSKELETONS ARE DESIGNED TO PROVIDE PROTECTION, ASSISTANCE, AND SUPPORT TO LOWER LIMBS OF HUMAN BODY
TABLE 35 MARKET FOR LOWER EXTREMITIES, BY VERTICAL, 2017–2020 (USD MILLION)
TABLE 36 EXOSKELETON MARKET FOR LOWER EXTREMITIES, BY VERTICAL, 2021–2026 (USD MILLION)
8.3 UPPER EXTREMITIES
8.3.1 UPPER EXTREMITY EXOSKELETONS ACT AS HUMAN EXTENDERS THAT PROVIDE HUMAN POWER AUGMENTATION FOR MANIPULATION OF HEAVY AND BULKY OBJECTS
TABLE 37 MARKET FOR UPPER EXTREMITIES, BY VERTICAL, 2017–2020 (USD MILLION)
TABLE 38 MARKET FOR UPPER EXTREMITIES, BY VERTICAL, 2021–2026 (USD MILLION)
8.4 FULL BODY
8.4.1 FULL-BODY EXOSKELETONS ARE DESIGNED TO LIFT AND MANIPULATE LOADS
TABLE 39 MARKET FOR FULL BODY, BY VERTICAL, 2017–2020 (USD MILLION)
TABLE 40 MARKET FOR FULL BODY, BY VERTICAL, 2021–2026 (USD MILLION)
9 EXOSKELETON MARKET, BY MOBILITY (Page No. - 95)
9.1 INTRODUCTION
FIGURE 31 MARKET FOR MOBILE EXOSKELETONS TO GROW AT HIGHER CAGR DURING FORECAST PERIOD
TABLE 41 MARKET, BY MOBILITY, 2017–2020 (USD MILLION)
TABLE 42 MARKET, BY MOBILITY, 2021–2026 (USD MILLION)
9.2 STATIONARY
9.2.1 STATIONARY EXOSKELETONS ARE MOSTLY USED IN MEDICAL APPLICATIONS
TABLE 43 MARKET FOR STATIONARY, BY VERTICAL, 2017–2020 (USD MILLION)
TABLE 44 MARKET FOR STATIONARY, BY VERTICAL, 2021–2026 (USD MILLION)
9.3 MOBILE
9.3.1 MOBILE EXOSKELETONS ARE USED TO AUGMENT PHYSICAL ABILITIES OF ABLE-BODIED HUMANS TO ENHANCE THEIR PERFORMANCE IN INDUSTRIAL AND MILITARY SECTORS
TABLE 45 MARKET FOR MOBILE, BY VERTICAL, 2017–2020 (USD MILLION)
TABLE 46 MARKET FOR MOBILE, BY VERTICAL, 2021–2026 (USD MILLION)
10 EXOSKELETON MARKET, BY STRUCTURE (Page No. - 100)
10.1 INTRODUCTION
10.2 RIGID EXOSKELETONS
10.2.1 RIGID EXOSKELETONS CAN DELIVER HIGHER FORCES QUICKLY AND ACCURATELY, AND THEIR LINKAGE STRUCTURE ALLOWS THEM TO DO SO EVEN IN EXTREME CASES OF PARALYSIS
10.3 SOFT EXOSKELETONS
10.3.1 MATERIAL ADVANCES CAN REDUCE RISK OF INJURY, MAKE EXOSKELETONS EASIER TO FIT, AND IMPROVE MANEUVERABILITY
11 EXOSKELETON MARKET, BY VERTICAL (Page No. - 101)
11.1 INTRODUCTION
FIGURE 32 EXOSKELETON MARKET FOR DEFENSE TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD
TABLE 47 EXOSKELETON MARKET, BY VERTICAL, 2017–2020 (USD MILLION)
TABLE 48 MARKET, BY VERTICAL, 2021–2026 (USD MILLION)
11.2 HEALTHCARE
11.2.1 DEMAND FROM REHABILITATION CENTERS AND SPORTS FACILITIES TO DRIVE MARKET GROWTH
FIGURE 33 POWERED EXOSKELETON MARKET FOR HEALTHCARE TO GROW AT HIGHER CAGR DURING FORECAST PERIOD
TABLE 49 MARKET FOR HEALTHCARE, BY TYPE, 2017–2020 (USD MILLION)
TABLE 50 MARKET FOR HEALTHCARE, BY TYPE, 2021–2026 (USD MILLION)
TABLE 51 MARKET FOR HEALTHCARE, BY MOBILITY, 2017–2020 (USD MILLION)
TABLE 52 MARKET FOR HEALTHCARE, BY MOBILITY, 2021–2026 (USD MILLION)
TABLE 53 MARKET FOR HEALTHCARE, BY BODY PART, 2017–2020 (USD MILLION)
TABLE 54 MARKET FOR HEALTHCARE, BY BODY PART, 2021–2026 (USD MILLION)
TABLE 55 MARKET FOR HEALTHCARE, BY REGION, 2017–2020 (USD MILLION)
TABLE 56 MARKET FOR HEALTHCARE, BY REGION, 2021–2026 (USD MILLION)
11.3 DEFENSE
11.3.1 HEIGHTENED INVESTMENT IN EXOSKELETONS FROM DEFENSE SECTOR OF VARIOUS COUNTRIES TO PROPEL MARKET GROWTH
TABLE 57 MARKET FOR DEFENSE, BY TYPE, 2017–2020 (USD MILLION)
TABLE 58 MARKET FOR DEFENSE, BY TYPE, 2021–2026 (USD MILLION)
TABLE 59 MARKET FOR DEFENSE, BY MOBILITY, 2017–2020 (USD MILLION)
TABLE 60 MARKET FOR DEFENSE, BY MOBILITY, 2021–2026 (USD MILLION)
TABLE 61 MARKET FOR DEFENSE, BY BODY PART, 2017–2020 (USD MILLION)
TABLE 62 EXOSKELETON MARKET FOR DEFENSE, BY BODY PART, 2021–2026 (USD MILLION)
FIGURE 34 NORTH AMERICA TO HOLD LARGEST SIZE OF EXOSKELETON MARKET FOR DEFENSE DURING FORECAST PERIOD
TABLE 63 MARKET FOR DEFENSE, BY REGION, 2017–2020 (USD MILLION)
TABLE 64 MARKET FOR DEFENSE, BY REGION, 2021–2026 (USD MILLION)
11.4 INDUSTRIAL
11.4.1 DEPLOYMENT OF EXOSKELETONS IN INDUSTRIES TO MAXIMIZE SAFETY AND PRODUCTIVITY TO SUPPORT MARKET GROWTH
TABLE 65 EXOSKELETON MARKET FOR INDUSTRIAL, BY TYPE, 2017–2020 (USD MILLION)
nbsp; TABLE 66 EXOSKELETON MARKET FOR INDUSTRIAL, BY TYPE, 2021–2026 (USD MILLION)
TABLE 67 EXOSKELETON MARKET FOR INDUSTRIAL, BY MOBILITY, 2017–2020 (USD MILLION)
TABLE 68 MARKET FOR INDUSTRIAL, BY MOBILITY, 2021–2026 (USD MILLION)
TABLE 69 MARKET FOR INDUSTRIAL, BY BODY PART, 2017–2020 (USD MILLION)
TABLE 70 MARKET FOR INDUSTRIAL, BY BODY PART, 2021–2026 (USD MILLION)
TABLE 71 EXOSKELETON MARKET FOR INDUSTRIAL, BY REGION, 2017–2020 (USD MILLION)
TABLE 72 MARKET FOR INDUSTRIAL, BY REGION, 2021–2026 (USD MILLION)
11.5 OTHERS
TABLE 73 MARKET FOR OTHERS, BY TYPE, 2017–2020 (USD MILLION)
TABLE 74 MARKET FOR OTHERS, BY TYPE, 2021–2026 (USD MILLION)
TABLE 75 MARKET FOR OTHERS, BY MOBILITY, 2017–2020 (USD MILLION)
TABLE 76 MARKET FOR OTHERS, BY MOBILITY, 2021–2026 (USD MILLION)
TABLE 77 MARKET FOR OTHERS, BY BODY PART, 2017–2020 (USD MILLION)
TABLE 78 MARKET FOR OTHERS, BY BODY PART, 2021–2026 (USD MILLION)
TABLE 79 MARKET FOR OTHERS, BY REGION, 2017–2020 (USD MILLION)
TABLE 80 MARKET FOR OTHERS, BY REGION, 2021–2026 (USD MILLION)
11.6 IMPACT OF COVID-19
12 GEOGRAPHIC ANALYSIS (Page No. - 115)
12.1 INTRODUCTION
FIGURE 35 NORTH AMERICA TO HOLD LARGEST SIZE OF EXOSKELETON MARKET DURING FORECAST PERIOD
TABLE 81 MARKET, BY REGION, 2017–2020 (USD MILLION)
TABLE 82 MARKET, BY REGION, 2021–2026 (USD MILLION)
12.2 NORTH AMERICA
FIGURE 36 SNAPSHOT: EXOSKELETON MARKET IN NORTH AMERICA
FIGURE 37 POWERED SEGMENT TO ACCOUNT FOR LARGER SIZE OF EXOSKELETON MARKET IN NORTH AMERICA DURING FORECAST PERIOD
TABLE 83 MARKET IN NORTH AMERICA, BY TYPE, 2017–2020 (USD MILLION)
TABLE 84 MARKET IN NORTH AMERICA, BY TYPE, 2021–2026 (USD MILLION)
TABLE 85 MARKET IN NORTH AMERICA, BY VERTICAL, 2017–2020 (USD MILLION)
TABLE 86 MARKET IN NORTH AMERICA, BY VERTICAL, 2021–2026 (USD MILLION)
FIGURE 38 US TO HOLD LARGEST SIZE OF EXOSKELETON MARKET IN NORTH AMERICA
TABLE 87 EXOSKELETON MARKET IN NORTH AMERICA, BY COUNTRY, 2017–2020 (USD MILLION)
TABLE 88 MARKET IN NORTH AMERICA, BY COUNTRY, 2021–2026 (USD MILLION)
12.2.1 US
12.2.1.1 Increasing use of exoskeletons in healthcare and military sectors to fuel market growth in US
12.2.2 CANADA
12.2.2.1 Emergence of various robotic startup companies to incite market growth in Canada
12.2.3 MEXICO
12.2.3.1 Industrial automation to substantiate market growth in Mexico
12.3 EUROPE
FIGURE 39 SNAPSHOT: EXOSKELETON MARKET IN EUROPE
TABLE 89 EXOSKELETON MARKET IN EUROPE, BY TYPE, 2017–2020 (USD MILLION)
TABLE 90 MARKET IN EUROPE, BY TYPE, 2021–2026 (USD MILLION)
TABLE 91 MARKET IN EUROPE, BY VERTICAL, 2017–2020 (USD MILLION)
TABLE 92 MARKET IN EUROPE, BY VERTICAL, 2021–2026 (USD MILLION)
TABLE 93 MARKET IN EUROPE, BY COUNTRY, 2017–2020 (USD MILLION)
TABLE 94 EXOSKELETON MARKET IN EUROPE, BY COUNTRY, 2021–2026 (USD MILLION)
12.3.1 UK
12.3.1.1 Demand for exoskeletons for healthcare and personal assistance applications to support market growth
12.3.2 GERMANY
12.3.2.1 Germany has been an early adopter of various new technologies, and the growing exoskeleton system’s applicability would propel the demand for robotics
12.3.3 FRANCE
12.3.3.1 Government support for robotics research to foster exoskeleton market growth in France
12.3.4 REST OF EUROPE
12.4 ASIA PACIFIC
FIGURE 40 SNAPSHOT: EXOSKELETON MARKET IN ASIA PACIFIC
TABLE 95 MARKET IN APAC, BY TYPE, 2017–2020 (USD MILLION)
TABLE 96 MARKET IN APAC, BY TYPE, 2021–2026 (USD MILLION)
FIGURE 41 HEALTHCARE SEGMENT TO ACCOUNT FOR LARGEST SIZE OF EXOSKELETON MARKET IN APAC
TABLE 97 MARKET IN APAC, BY VERTICAL, 2017–2020 (USD MILLION)
TABLE 98 MARKET IN APAC, BY VERTICAL, 2021–2026 (USD MILLION)
TABLE 99 MARKET IN APAC, BY COUNTRY, 2017–2020 (USD MILLION)
TABLE 100 MARKET IN APAC, BY COUNTRY, 2021–2026 (USD MILLION)
12.4.1 JAPAN
12.4.1.1 Aging population and reduced workforce would fuel demand for exoskeletons in Japan
12.4.2 CHINA
12.4.2.1 Emergence of new exoskeleton companies in China to augment market growth
12.4.3 INDIA
12.4.3.1 Initiation of various automotive manufacturing projects in India would fuel exoskeleton market growth in India
12.4.4 SOUTH KOREA
12.4.4.1 Focusing on integrating information and robot technologies in industrial operations would favor exoskeleton market growth in South Korea
12.4.5 REST OF APAC
12.5 REST OF THE WORLD
TABLE 101 MARKET IN ROW, BY TYPE, 2017–2020 (USD MILLION)
TABLE 102 MARKET IN ROW, BY TYPE, 2021–2026 (USD MILLION)
TABLE 103 MARKET IN ROW, BY VERTICAL, 2017–2020 (USD MILLION)
TABLE 104 MARKET IN ROW, BY VERTICAL, 2021–2026 (USD MILLION)
TABLE 105 MARKET IN ROW, BY REGION, 2017–2020 (USD MILLION)
TABLE 106 MARKET IN ROW, BY REGION, 2021–2026 (USD MILLION)
12.5.1 SOUTH AMERICA
12.5.1.1 Increase in defense spending would catalyze market growth in South America
12.5.2 MIDDLE EAST AND AFRICA
12.5.2.1 Growing use of exoskeletons for search and rescue, and defense applications to boost market growth in Middle East & Africa
12.6 IMPACT OF COVID-19
13 COMPETITIVE LANDSCAPE (Page No. - 133)
13.1 OVERVIEW
13.2 MARKET EVALUATION FRAMEWORK
TABLE 107 OVERVIEW OF STRATEGIES DEPLOYED BY KEY EXOSKELETON PLAYERS
13.2.1 PRODUCT PORTFOLIO
13.2.2 REGIONAL FOCUS
13.2.3 MANUFACTURING FOOTPRINT
13.2.4 ORGANIC/INORGANIC GROWTH STRATEGIES
13.3 REVENUE ANALYSIS OF LEADING PLAYERS (2016–2020)
FIGURE 42 5-YEAR REVENUE ANALYSIS OF LEADING PLAYERS IN EXOSKELETON MARKET
13.4 MARKET SHARE ANALYSIS: EXOSKELETON MARKET, 2020
TABLE 108 DEGREE OF COMPETITION
13.5 COMPANY EVALUATION MATRIX
13.5.1 STAR
13.5.2 EMERGING LEADER
13.5.3 PERVASIVE
13.5.4 PARTICIPANT
FIGURE 43 COMPANY EVALUATION MATRIX, 2020
13.6 START-UP EVALUATION MATRIX
13.6.1 PROGRESSIVE COMPANY
13.6.2 RESPONSIVE COMPANY
13.6.3 DYNAMIC COMPANY
13.6.4 STARTING BLOCK
FIGURE 44 START-UP (SME) EVALUATION MATRIX, 2020
13.7 COMPANY FOOTPRINT
TABLE 109 COMPANY FOOTPRINT
TABLE 110 COMPANY PRODUCT TYPE FOOTPRINT
TABLE 111 COMPANY VERTICAL FOOTPRINT
TABLE 112 COMPANY REGION FOOTPRINT
13.8 COMPETITIVE SITUATIONS AND TRENDS
13.8.1 PRODUCT LAUNCHES AND DEVELOPMENTS
TABLE 113 PRODUCT LAUNCHES & DEVELOPMENTS, 2020–2021
13.8.2 DEALS
TABLE 114 DEALS, 2020–2021
13.8.3 OTHERS
TABLE 115 OTHERS, 2020–2021
14 COMPANY PROFILES (Page No. - 148)
14.1 KEY PLAYERS
(Business overview, Products/solutions/services offered, Recent developments, Product launches & developments, Deals, MnM view, Key strengths/Right to win, Strategic choices made, and Weaknesses and competitive threats)*
14.1.1 OTTOBOCK
TABLE 116 OTTOBOCK: BUSINESS OVERVIEW
14.1.2 DIH MEDICAL
TABLE 117 DIH MEDICAL: BUSINESS OVERVIEW
14.1.3 CYBERDYNE
TABLE 118 CYBERDYNE: BUSINESS OVERVIEW
FIGURE 45 CYBERDYNE: COMPANY SNAPSHOT
14.1.4 EKSO BIONICS
TABLE 119 EKSO BIONICS: BUSINESS OVERVIEW
FIGURE 46 EKSO BIONICS: COMPANY SNAPSHOT
14.1.5 LOCKHEED MARTIN CORPORATION
TABLE 120 LOCKHEED MARTIN CORPORATION: BUSINESS OVERVIEW
FIGURE 47 LOCKHEED MARTIN CORPORATION: COMPANY SNAPSHOT
14.1.6 ATOUN
TABLE 121 ATOUN: BUSINESS OVERVIEW
14.1.7 BIONIK
TABLE 122 BIONIK: BUSINESS OVERVIEW
FIGURE 48 BIONIK: COMPANY SNAPSHOT
14.1.8 B-TEMIA
TABLE 123 B-TEMIA: BUSINESS OVERVIEW
14.1.9 MEDITOUCH
TABLE 124 MEDITOUCH: BUSINESS OVERVIEW
14.1.10 REWALK ROBOTICS
TABLE 125 REWALK ROBOTICS: BUSINESS OVERVIEW
FIGURE 49 REWALK ROBOTICS: COMPANY SNAPSHOT
14.2 OTHER KEY PLAYERS
14.2.1 DAIYA INDUSTRY
14.2.2 EUROPE TECHNOLOGIES
14.2.3 EXHAUSS
14.2.4 FOCAL MEDITECH
14.2.5 FOURIER INTELLIGENCE
14.2.6 GOGOA MOBILITY
14.2.7 HONDA MOTOR
14.2.8 HYUNDAI MOTORS
14.2.9 MITSUBISHI HEAVY INDUSTRIES
14.2.10 MYOMO
14.2.11 PARKER HANNIFIN
14.2.12 P&S MECHANICS
14.2.13 REX BIONICS
14.2.14 SUITX
14.2.15 WANDERCRAFT
*Details on Business overview, Products/solutions/services offered, Recent developments, Product launches & developments, Deals, MnM view, Key strengths/Right to win, Strategic choices made, and Weaknesses and competitive threats might not be captured in case of unlisted companies.
15 APPENDIX (Page No. - 195)
15.1 DISCUSSION GUIDE
15.2 KNOWLEDGE STORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL
15.3 AVAILABLE CUSTOMIZATIONS
15.4 RELATED REPORTS
15.5 AUTHOR DETAILS
This research study involved the use of extensive secondary sources, directories, and databases (e.g., Hoovers, Bloomberg Business, Factiva, and OneSource) to identify and collect information useful for this technical, market-oriented, and commercial study of the exoskeleton market. Primary sources include several industry experts from the core and related industries and preferred suppliers, manufacturers, distributors, technology developers, IP vendors, standards, and organizations related to all the segments of this industry’s value chain. In-depth interviews have been conducted with various primary respondents, including key industry participants, subject matter experts (SMEs), C-level executives of key market players, and industry consultants to obtain and verify critical qualitative and quantitative information, as well as to assess the prospects.
Secondary Research
In the secondary research process, various secondary sources were referred to for identifying and collecting information for this study. The secondary sources include annual reports, press releases, and investor presentations of companies; white papers, journals and certified publications, and articles from recognized authors; and websites, directories, and databases. Secondary research has mainly been used to obtain key information about the industry’s supply chain, the market’s value chain, major players, market classification, and segmentation according to the industry trends to the bottommost level, geographic markets, and key developments from both market- and technology-oriented perspectives. The secondary data has been collected and analyzed to arrive at the overall market size, which has further been validated by primary research.
List of major secondary sources
|
Name of Source |
Web Link |
|
International Federation of Robotics (IFR) |
https://ifr.org/ |
|
European Clearing House for Open Robotics Development (ECHORD) |
http://www.echord.info/ |
|
The International Journal of Robotics Research |
http://www.ijrr.org/ |
|
Tokyo Opensource Robotics Kyokai Association (TORK) |
http://opensource-robotics.tokyo.jp/ |
|
Robotic Industries Association |
https://www.robotics.org/ |
|
Association for Advancing Automation |
http://www.a3automate.org/ |
|
EUnited Robotics: European Robotics Association |
http://www.eu-nited.net/ |
|
Robohub |
http://robohub.org |
Primary Research
Extensive primary research has been conducted after acquiring knowledge about the exoskeleton market scenario through secondary research. Several primary interviews have been conducted with market experts from both supply (biosensor manufacturers) and demand (biosensor applications) sides across 4 major regions—North America, Europe, APAC, and RoW (including South America and the Middle East & Africa). Approximately 30% of the primary interviews have been conducted with the demand side and 70% with the supply side. Primary data has been mainly collected through telephonic interviews, which is approximately 80% of the overall primary interviews. Moreover, questionnaires and emails have also been used to collect data.
To know about the assumptions considered for the study, download the pdf brochure
Market Size Estimation
In the complete market engineering process, both the top-down and bottom-up approaches have been used, along with several data triangulation methods, to perform the market estimation and forecasting for the overall market segments and subsegments listed in this report. The key players in the market have been identified through secondary research, and their market shares in the respective regions have been determined through primary and secondary research. The entire procedure included the study of annual and financial reports of top market players and extensive interviews for key insights with industry experts, such as CEOs, VPs, directors, and marketing executives. All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources. All the possible parameters affecting the markets covered in this research study have been accounted for, viewed in detail, verified through primary research, and analyzed to obtain the final quantitative and qualitative data. This data has been consolidated and supplemented with detailed inputs and analysis from MarketsandMarkets and presented in this report. The following figure represents the overall market size estimation process employed for this study.
The bottom-up approach has been used to arrive at the overall size of the exoskeleton market from the revenues of the key players and their shares in the market. The overall market size has been calculated based on the revenues of the key players identified in the market. The research methodology used to estimate the market size by the bottom-up approach includes the following:
- Identifying key participants that influence the overall exoskeleton market, along with related component providers
- Analyzing key providers of exoskeletons and biosensor components, along with raw material providers, and studying their portfolios to understand the different components and products offered by them. In addition, examining the developments undertaken by the key players during the pre-COVID-19 period, as well as studying the measures/steps undertaken by them to deal with COVID-19
- Predicting the anticipated change in demand for exoskeletons and their components in the post-COVID-19 scenario
- Analyzing trends pertaining to the use of exoskeletons in different verticals such as healthcare, defense, industrial and others which include construction, search and rescue, space, agriculture, education, and sports and fitness.
- Tracking the ongoing and identifying the upcoming developments in the market in the form of investments, R&D activities, product launches, collaborations, and partnerships, and forecasting the market size based on these developments and other critical parameters
Carrying out multiple discussions with key opinion leaders to understand the various types of exoskeletons used in different applications and recent trends in the market, thereby analyzing the breakup of the scope of the work carried out by the leading companies
- Arriving at the market estimates by analyzing the revenues generated by companies and combining the same to get the market estimates
- Segmenting the overall market into different segments
- Verifying and crosschecking estimates at every level through discussions with key opinion leaders such as CXOs, directors, and operations managers, and finally with the domain experts at MarketsandMarkets
- Studying various paid and unpaid sources of information such as annual reports, press releases, white papers, and databases
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 obtained from secondary and primary research. For the calculation of the sizes of specific market segments, the size of the most appropriate parent market has been considered to implement the top-down approach. Data from interviews has been consolidated, checked for consistency and accuracy, and inserted into a data model to arrive at the market numbers following the top-down approach. The market size in different regions has been identified and analyzed through secondary research.
Upon the estimation and validation of the size of the exoskeleton market, further segmentation has been carried out based on consolidated inputs from key players with respect to regional adoption trends of exoskeletons and the pervasiveness of the different types of exoskeletons across different applications and regions.
The research methodology used to estimate the market size by the top-down approach includes the following:
- Focusing on top-line investments and expenditures made in the exoskeleton market ecosystem
- Calculating the market size considering revenues generated by the key players through the sales of exoskeletons and components; estimating the market size for 2020 by considering the impact of COVID-19 across the value chain of the exoskeleton market, and analyzing recovery scenarios across the world to further forecast the market size
- Conducting multiple on-field discussions with key opinion leaders of major companies operating in the exoskeleton market to understand the pre-COVID-19 and post-COVID-19 scenarios
- Estimating the geographic split using secondary sources based on various factors such as the demand for exoskeletons in specific countries and regions, adoption rate of different exoskeletons for verticals such as healthcare, defense, industrial and others.
Data Triangulation
After arriving at the overall market size from the estimation process explained earlier, the overall market has been split into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics for all the segments and subsegments, the market breakdown and data triangulation procedures have been employed, wherever applicable. The data has been triangulated by studying various factors and trends from both the demand and supply sides. Along with this, the market size has been validated using both the top-down and bottom-up approaches.
Report Objectives
- To define, describe, segment, and forecast the size of the global exoskeleton market, by body part, type, mobility, vertical, and geography, in terms of value and volume
- To forecast the market size for the vertical segments with respect to 4 main regions, namely, North America, Europe, Asia Pacific (APAC), and the Rest of the World (RoW), in terms of value
- To strategically analyze the micromarkets1 with respect to the individual growth trends, prospects, and contribution to the exoskeleton market
- To provide detailed information regarding the drivers, restraints, opportunities, and industry-specific challenges influencing the growth of the exoskeleton 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 market
To analyze competitive developments such as expansions, mergers and acquisitions, and product launches, along with research and development (R&D), in the exoskeleton market
- To strategically profile key players of the exoskeleton market and comprehensively analyze their market rankings and core competencies2
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Growth opportunities and latent adjacency in Exoskeleton Market
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