As per Market Research Future Analysis, the Global Smart Exoskeleton Market was valued at USD 5.51 Billion in 2023 and is projected to grow to USD 10.366 Billion by 2032, with a CAGR of 7.16% from 2024 to 2032. The market is driven by increasing demand in industrial and medical applications, particularly for rehabilitation and injury prevention. The ultra-soft exoskeleton segment leads the market, catering to the elderly and those recovering from surgery. The healthcare sector is the largest revenue generator, supported by rising investments and the growing incidence of spinal cord injuries. North America dominates the market, driven by high disability rates and significant investments in healthcare technology.
Key trends driving the Smart Exoskeleton Market include advancements in technology and increasing applications across various sectors.
Key players include Ekso Bionics Holdings Inc., ReWalk Robotics, Ottobock, Lockheed Martin Corporation, Parker Hannifin Corp., CYBERDYNE Inc., and others.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
An exoskeleton with the function of improving the user's movement, preventing unexpected injuries and stimulating blood circulation in people with weak muscles. People with health and neurological problems could benefit from a smart exoskeleton. It can also be used in a therapeutic setting to assist patients in successful exercise and rehabilitation. The motors are mounted on the hip and knee joints of the exoskeleton. The need for smart exoskeletons to rehabilitate physically and neurologically disabled people is a significant factor driving the global market. In the workplace, the purpose of an exoskeleton is to supplement, augment, or augment an employee's existing body components, primarily the lower back and upper limbs. This helps improve the quality of work and reduces the risk of work-related musculoskeletal disorders. These exoskeletons can be adapted to the operator's body part for added strength.
Soldiers often carry supplies while climbing stairs or hills as part of their daily routine. In addition, soldiers constantly struggle with endurance and strength and are prone to hip, back and knee injuries. As a result, military organizations worldwide have adopted smart exoskeleton technology that can carry payloads more efficiently. These skills also help soldiers perform better with minimal effort. A recent report by the World Health Organization (WHO) estimates that by 2050, the number of people over the age of 60 will exceed 2 billion. The increasing incidence of falls and increasing geriatric population due to lack of stability and physical deterioration are expected to provide beneficial opportunities for the growth of the smart exoskeleton market. The device also helps the elderly maintain body tension and ensures proper blood circulation for those with weak muscles.
The development of smart exoskeletons with various power and drive systems has increased the market demand for smart exoskeletons. It is also integrated with powerful sensors and controls that control the components of the exoskeleton device, providing beneficial opportunities for the overall growth of the smart exoskeleton industry.Thus, driving the smart exoskeleton market revenue.
The Smart Exoskeleton Market segmentation, based on type, includes ultra-soft exoskeleton, soft exoskeleton, and rigid exoskeleton. The ultra-soft exoskeleton segment dominated the market. Very soft exoskeletons can be used by people injured or who have undergone surgery to regain limb mobility and strength. As people age, physical function and mobility can decline. The ultra-soft exoskeleton helps seniors maintain their independence and quality of life by supporting them in their daily activities. Soft exoskeletons can support workers in physically demanding tasks such as manufacturing or construction, reducing the risk of injury and fatigue.
Figure 1: Smart Exoskeleton Market, by Type, 2022 & 2032 (USD billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
The Smart Exoskeleton Market segmentation, based on components, includes hardware and software. The hardware category generated the most income. Hardware is further sub-segmented into sensors, actuators, power sources, control systems, etc. These are used mostly in the exoskeleton hence driving the growth of the hardware segment in the Smart Exoskeleton Market.
The Smart Exoskeleton Market segmentation based on application includes upper limbs, lower limbs, and full body. The full body category generated the most income. A full-body exoskeleton, also called a motorized exoskeleton, is a wearable robotic device that covers the entire body and is designed to augment or assist human movement. These devices use electric motors or hydraulic systems to increase the strength and durability of the clothing. Soldiers can use full-body exoskeletons to lift heavy loads, move faster and more efficiently, and increase physical endurance on the battlefield.
The Smart Exoskeleton Market segmentation based on verticals includes industrial, healthcare, military, and others. The healthcare category generated the most income. Growing investments in the healthcare sector, increasing incidence of spinal cord injuries and emerging rehabilitation centers will drive the growth of the smart exoskeleton market. Meanwhile, smart exoskeletons have recently been increasingly adopted by the general population. FDA approval for medical exoskeletons was also easily obtained. These factors are fueling the overall growth of the smart exoskeletons industry. The Smart Exoskeleton market was valued at USD 3,349 million in 2017 and is expected to exceed USD 5,290.1 ​​million by the end of the forecast period.
By Region, the study provides market insights into North America, Europe, Asia-Pacific and the Rest of the World. The North American smart exoskeleton market area will dominate this market due to its performance. Increasing disability in the region and investment from private healthcare-related organizations and government research institutes are major growth factors for the smart exoskeleton industry. Additionally, a recent study found that over 61 million people with disabilities in the United States and over 13.7% have mobility issues. The increasing cooperation of prominent players in the medical device industry has recently influenced the global growth of the smart exoskeletons market.
Further, the major countries studied in the market report are The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: Smart Exoskeleton Market SHARE BY REGION 2022 (%)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe’s smart exoskeleton market accounts for the second-largest market share. The growing demand for the use of smart exoskeletons for the rehabilitation of physically and neurologically disabled people is the driving force behind the growth of the global smart exoskeletons market. Further, the German smart exoskeleton market held the largest market share, and the UK was the fastest-growing market in the European region.
The Asia-Pacific Smart Exoskeleton Market is expected to grow at the fastest CAGR from 2024 to 2032. The growing geriatric population in the region is a major driver for the smart exoskeletons market, and exoskeletons are required to develop welfare and healthcare in the region. Countries like Japan are increasing industrial activities, and intelligent exoskeletons are widely used in Japan to improve work efficiency and intensive work. Moreover, China’s smart exoskeleton market held the largest market share, and the Indian smart exoskeleton market was the fastest-growing market in the Asia-Pacific region.
Leading market players are investing heavily in research and development in order to expand their product lines, which will help the smart exoskeleton market grow even more. Market participants are also undertaking various strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, smart exoskeleton industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics manufacturers use in the global smart exoskeleton industry to benefit clients and increase the market sector. The smart exoskeleton industry has offered some of the most significant advantages in recent years. Major players in the smart exoskeleton market, including Ekso Bionics Holdings Inc. (US), ReWalk Robotics (US), Ottobock (Germany), Lockheed Martin Corporation (US), Parker Hannifin Corp. (US), CYBERDYNE Inc. (Japan), DIH Technologies Corporation (China), Rex Bionics Ltd. (UK), Hyundai Motor Company (South Korea), US Bionics (US), Gogoa.EU (Spain), ATOUN Inc. (Japan), RB3D (France) and others are attempting to increase market demand by investing in research and development operations.
BIONIK (Canada), is a pioneering global healthcare company that aims to provide quality-of-life solutions for people with mobility impairments. Our mission is to help millions of people with disabilities live full and independent lives by promoting hope, healing and independence through evidence-based technologies that span the continuum of rehabilitative care. The company's product portfolio includes three InMotion® robots for rehabilitation after stroke and other neurological disorders and four products in various stages of development. Based on basic research at the Massachusetts Institute of Technology's Newman Biomechanics and Human Rehabilitation Laboratory, the InMotion® robot provides an effective, patient-specific treatment to restore upper limb motor control for various neurological conditions. And a recovery phase that includes early recovery from an acute stroke.
US Bionics (US), Our mission is to make Bionic a leading prosthetic and orthopedic solutions provider. Our vision is to bring like-minded people together with a common goal. Develop a growing clinical presence nationally and internationally and build strong alliances with healthcare partners. Our goal is to recognize patients as an integral part of the communities we serve. Our values ​​are to inspire and improve people's lives. Competent and compassionate treatment of patients.
Ultra-Soft Exoskeleton
Soft Exoskeleton
Rigid Exoskeleton
Hardware
Software
Upper Limbs
Lower Limbs
Full Body
Industrial
Healthcare
Military
Others
North America
Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Australia
Rest of Asia-Pacific
Rest of the World
Middle East
Africa
Latin America
| Report Attribute/Metric | Details |
| Market Size 2023 | USD 5.51 billion |
| Market Size 2024 | USD 5.9618 billion |
| Market Size 2032 | USD 10.366 billion |
| Compound Annual Growth Rate (CAGR) | 7.16% (2024-2032) |
| Base Year | 2023 |
| Market Forecast Period | 2024-2032 |
| Historical Data | 2018- 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Type, Component, Application, Vertical and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The U.S., Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | Ekso Bionics Holdings Inc. (US), ReWalk Robotics (US), Ottobock (Germany), Lockheed Martin Corporation (US), Parker Hannifin Corp. (US), CYBERDYNE Inc. (Japan), DIH Technologies Corporation (China), Rex Bionics Ltd. (UK), Hyundai Motor Company (South Korea), US Bionics (US), Gogoa.EU (Spain), ATOUN Inc. (Japan), RB3D (France) |
| Key Market Opportunities | Growing demand for industrial body parts |
| Key Market Dynamics | Growing medical demand |
Smart Exoskeleton Market Highlights:
Frequently Asked Questions (FAQ):
The Smart Exoskeleton Market size was valued at USD 5.51 Billion in 2023.
The global market is projected to grow at a CAGR of 7.16% during the forecast period, 2024-2032.
North America had the largest share in the global market
The key players in the market are Ekso Bionics Holdings Inc. (US), ReWalk Robotics (US), Ottobock (Germany), Lockheed Martin Corporation (US), Parker Hannifin Corp. (US), CYBERDYNE Inc. (Japan), DIH Technologies Corporation (China), Rex Bionics Ltd. (UK), Hyundai Motor Company (South Korea), US Bionics (US), Gogoa.EU (Spain), ATOUN Inc. (Japan), RB3D (France).
The ultra-soft exoskeleton category dominated the market in 2022.
The hardware had the largest share in the global market.
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Research Analyst Level II With a technical background in information technology & semiconductors, shubham has 4.5+ years of experience in market research and analytics with the tasks of data mining, analysis, and project execution. he is the poc for our clients, for their consulting projects running under the ict/semiconductor domain. shubham holds a bachelor’s in information and technology and a master of business administration (mba). shubham has executed over 150 research projects for our clients under the brand name market research future in the last 2 years. his core skill is building the research respondent relation for gathering the primary information from industry and market estimation for niche markets. he is having expertise in conducting secondary & primary research, market estimations, market projections, competitive analysis, analysing current market trends and market dynamics, deep-dive analysis on market scenarios, consumer behaviour, technological impact analysis, consulting, analytics, etc. he has worked on fortune 500 companies' syndicate and consulting projects along with several government projects. he has worked on the projects of top tech brands such as ibm, google, microsoft, aws, meta, oracle, cisco systems, samsung, accenture, vmware, schneider electric, dell, hp, ericsson, and so many others. he has worked on metaverse, web 3.0, zero-trust security, cyber-security, blockchain, quantum computing, robotics, 5g technology, high-performance computing, data centers, ai, automation, it equipment, sensors, semiconductors, consumer electronics and so many tech domain projects.
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