Exoskeleton Market is predicted to reach USD 16.0 billion at a CAGR of 39.50% during the forecast period 2023-2032

Market Research Future (MRFR) has published on the “Global Exoskeleton Market”.

The exoskeleton market is estimated to register a CAGR of 39.50% during the forecast period of 2023 to 2032.

MRFR recognizes the following companies as the key players in the exoskeleton market— Ekso Bionics; Hocoma; Lockheed Martin Corporation; Suit X; Rex Bionics Plc.; RB3D; ReWalk Robotics Ltd; Cyberdyne, Inc.; and ActiveLink.

Market Highlights

The exoskeleton market is accounted to register a CAGR of 39.50% during the forecast period and is estimated to reach USD 16.0 billion by 2032.

The exoskeleton market is driven by the increasing demand for assistive technologies in healthcare and industries to enhance mobility and productivity. Opportunities arise from technological advancements and expanding applications. However, challenges include high costs, regulatory complexities, and the need for widespread awareness. The market's growth is restrained by limited accessibility, especially in developing regions, and the requirement for robust infrastructure for seamless integration into diverse environments.

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Segment Analysis

The exoskeleton market has been segmented based component, type, body part, mobility, structure and vertical.

On the basis of component, the market is segmented into Hardware, Software. The hardware is segment was attributed to holding the largest market share in 2022. Comprising the physical components of exoskeleton systems, including frames, actuators, sensors, and power sources. Hardware is essential for the structure and operation of exoskeletons, influencing their performance and offering crucial mechanical support. Meanwhile, the rapidly expanding category is software, driven by progress in control algorithms, user interfaces, and integration with artificial intelligence. As exoskeletons develop to provide more advanced functions, there is a growing need for software solutions to improve user experience and optimize performance

Based on type, the exoskeleton market has been segmented into Powered, Passive. The Powered segment was expected to hold the largest market share in 2022. Powered exoskeletons offer improved strength and assistance, making them well-suited for tasks that demand greater endurance and reduced physical strain. Conversely, the rapidly expanding category is passive exoskeletons, crafted to provide mechanical support without actively enhancing movement. The rise in passive exoskeletons is fueled by their simplicity, cost-effectiveness, and applicability to different industries where power assistance may not be a primary need.

Based on body part, the exoskeleton market has been segmented into lower extremities, upper extremities, full body. The lower extremities segment was expected to hold the largest market share in 2022. This is due to their wide use in industries such as manufacturing, construction, and healthcare, where workers frequently need help lifting heavy loads or standing for long periods. On the other hand, the fastest-growing category is full-body exoskeletons, as they provide a complete solution by assisting both the upper and lower limbs, meeting various user needs and applications.

Based on Mobility, the exoskeleton market has been segmented into stationary, mobile. The mobile segment was expected to hold the largest market share in 2022. This dominance is driven by growing demand in military, healthcare, and logistics, where users require free movement and the ability to perform dynamic tasks. Meanwhile, stationary exoskeletons represent the fastest-growing category, finding use in scenarios where extensive mobility may not be necessary, such as rehabilitation centers or specific workstations. They are experiencing quick adoption due to their specialized utility.

Based on Structure, the exoskeleton market has been segmented into rigid exoskeletons, soft exoskeletons. The rigid exoskeletons segment was expected to hold the largest market share in 2022. Rigid exoskeletons are leading the market because of their strong design and ability to offer significant support, making them ideal for use in industries such as manufacturing, construction, and defense. Their durability and capacity to handle heavy loads are key factors in their market dominance. On the other hand, soft exoskeletons are the rapidly growing category, fueled by their lightweight and flexible design, making them well-suited for applications in healthcare and rehabilitation. The growing emphasis on user comfort and natural movement is paving the way for the rapid expansion of soft exoskeletons in the market.

Based on Vertical, the exoskeleton market has been segmented into Healthcare, Defense, Industrial, Others. The Industrial segment was expected to hold the largest market share in 2022. This is because exoskeletons are widely used in manufacturing and construction to improve worker productivity, decrease fatigue, and prevent injuries. The industrial sector's focus on workplace safety and efficiency plays a significant role in the prevalence of exoskeletons in this field. At the same time, the healthcare industry is seeing the most rapid growth, fueled by the rising use of exoskeletons for rehabilitation and aiding individuals with mobility issues. Increased recognition of the therapeutic advantages is driving the swift expansion in the healthcare sector.

Regional Analysis

The exoskeleton market, based on region, has been divided into the North America, Europe, Asia-Pacific, and Rest of the World. North America consists of US and Canada. The Europe exoskeleton market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The exoskeleton market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World exoskeleton market comprises of Middle East, Africa, and Latin America.

The largest market share for exoskeleton was maintained by the North American regional sector. The region has a robust ecosystem for technological innovation and research, leading to the development of advanced exoskeleton technologies. Moreover, the presence of prominent companies specializing in exoskeleton manufacturing contributes to market leadership. In North America, there is a strong emphasis on healthcare and rehabilitation technologies, with exoskeletons being widely adopted for medical purposes.

Moreover, the Europe market has been persistently growing over the forecast period. The demand for exoskeleton is driven by the increasing adoption of exoskeletons in healthcare and rehabilitation applications have fueled market growth. The awareness of the potential benefits of exoskeletons in aiding individuals with mobility impairments and supporting rehabilitation efforts has contributed to their widespread acceptance in European healthcare systems.

Additionally, the Asia-Pacific region is expected to experience the quickest growth in the exoskeleton market due to several key factors. Firstly, rapid industrialization and a burgeoning manufacturing sector. Secondly, the increasing awareness and acceptance of assistive technologies, including exoskeletons, for rehabilitation purposes contribute to market growth in the healthcare sector.

Furthermore, the rest of the world's exoskeleton market is divided into the Middle East, Africa, and Latin America. This growth is attributed to the increasing awareness of the potential benefits of exoskeleton technology in these regions, both in healthcare and industrial applications. As these regions strive for technological advancements, there is a growing interest in adopting assistive technologies like exoskeletons to enhance mobility and improve the quality of life.

Key Findings of the Study

• The exoskeleton market is expected to reach USD 16.0 billion by 2032, at a CAGR of 39.50%during the forecast period.


• The Asia-Pacific region accounted for the fastest-growing global market due to the rapid industrialization and a burgeoning manufacturing sector.


• Based on type, the powered segment was attributed to holding the largest market in 2022, with an approximate market share of 40–65%.


• Ekso Bionics; Hocoma; Lockheed Martin Corporation; Suit X; Rex Bionics Plc.; RB3D; ReWalk Robotics Ltd; Cyberdyne, Inc.; and ActiveLink.