Exoskeleton Market, by Offering (Hardware, and Software), by Product Type (Powered and Passive), by Mobility (Stationary and Mobile), by Body Parts (Lower Extremities, Upper Extremities, and Full Body), by Vertical (Healthcare, Military, Industrial and Others), and by Region - Global Industry Insights till 2025
- Report code : CMI251424 |
- Industry :
Smart Technologies
- Published On : Mar 2018 |
- Pages : 174 Pages |
- Format :
Exoskeleton Market
The global exoskeleton market was valued at US$ 87.9 Mn in 2016 and is expected to increase to US$ 2,288.3 million by 2025, registering a CAGR of 44.16% over the forecast period. Increasing demand for exoskeleton in the military and healthcare sectors for rehabilitation as well as increasing investment in the development of exoskeleton technology is boosting growth of the exoskeleton market.
Exoskeleton Market Key Driving Factor
Increasing demand for exoskeleton form military sector, owing to its ability of carrying more armor with fast body movement is driving growth of the market. Furthermore, exoskeletons can reduce metabolic cost of the load and helps soldiers cover more ground and additional armor, independently, which is propelling demand for exoskeleton in the military sector, in turn driving market growth. For instance, Lockheed Martin is developing military applications focused on soldier load carriage and sustainment applications. In 2010, two major exoskeleton projects for the military were launched: the Human Universal Load Carrier (HULC) by Ekso Bionics and Lockheed Martin and the XOS and XOS2 by Sarcos/Raytheon. Both were full body suits for solider mobility augmentation.
Exoskeleton Market, by Product Type
Among product type, the powered exoskeleton segment is expected witness rapid growth, over the forecast period. This growth is attributed to increasing demand for powered exoskeletons in the healthcare sector, to assist people suffering from disabilities. According to Ekso Bionics, a California-based bioengineering company, more than 150 Hybrid Assisted Limb (HAL) exoskeletons are in place at hospitals and assisted-living facilities in Japan. Powered exoskeletons are more energy efficient than passive exoskeletons, due to which the demand for powered exoskeletons is expected to grow.
Exoskeleton Market, by Vertical
Among verticals, the healthcare segment accounted for the largest market share in the exoskeleton market in 2016. The segment was valued at around US$ 47.6 million in 2016. The military segment is expected to witness highest growth, exhibiting a CAGR of 44.40% during the forecast period. This growth is attributed to the ability of exoskeletons to assist soldiers on the battlefield to lift heavy weapons and move faster, covering a larger area on the battlefield.
Exoskeleton Market Restraint
However, high cost of exoskeleton is expected to hinder growth of the global exoskeleton market during the forecast period. Powered exoskeletons are relatively more expensive than passive ones. The unit price of powered exoskeletons range from US$ 70,000 to US$ 120,000, excluding the service and maintenance costs. Therefore, there is an increasing demand for significant cost reduction, in order to enable personal usage of exoskeletons for rehabilitation application.
Source: Coherent Market Insights Analysis, 2017
North America accounted for the largest market share in 2016
Among geography, the market in North America held a dominant position in 2016 and is expected to retain its dominance over the forecast period. The exoskeleton market in this region is projected to reach US$ 999.3 million by 2025. The growth is attributed to increasing adoption of exoskeletons in various sectors such as healthcare, rehabilitation centers, military, and industrial processes in the U.S. For instance, in 2014, the Food and Drug Administration (FDA) approved a device called ReWalk, the first exoskeleton commercially available in the U.S., around 66 people purchased the ReWalk at US$ 77,000 in 2015. Moreover, growth of the market is attributed to increasing investments in R&D activities by several market players, including Ekso Bionics and ReWalk Robotics Ltd., in turn, influencing the rapid development of new products and product models in the region.
Key companies
Major players operating in the global exoskeleton market include Ekso Bionics, ActiveLink (Panasonic Corporation), Cyberdyne, Inc., ReWalk Robotics Ltd, Rex Bionics Plc., Lockheed Martin Corporation, Suit X (U.S. Bionics, Inc.), RB3D, Hocoma, DIH Technologies, Focal Meditech, and Ottobock.
Exoskeleton is an autonomous robot. Exoskeletons are wearable autonomous robots that are utilized as rehabilitation devices. Exoskeleton is responsible for enhancing, and improving human performance. Exoskeletons are made of rigid materials, including metal, carbon fiber or elastic parts. Exoskeleton devices can be placed on the upper, lower body or entire body, even on certain body parts such as knees and ankles.
Market Dynamics
Increasing demand for exoskeletons in the healthcare sector for rehabilitation is one of the major factors expected to drive growth of the global exoskeleton market during the forecast period. For instance, according to ReWalk Robotics Ltd., in 2016, the company’s sale for exoskeleton was totaled over 250 units, of which over 150 units were used in rehabilitation centers. This factor is expected to boost global market growth. Additionally, increased investment from government in various sector including healthcare and defense & military application is another major factor driving global market growth. For instance, according to The US Defense Advanced Research Projects Agency or DARPA has invested 50 million for a project called “Exoskeletons for Human Performance Augmentation” in 2010. Moreover, In 2015, the Technical Research and Development Institute, which is the defense research wing of the Japanese military, moved to invest $7.5 million into developing “highly mobile powered suits.”
Key features of the study:
- This report provides in-depth analysis of exoskeleton market size (US$ Billion), and Cumulative Annual Growth Rate (CAGR %) for the forecast period (2017– 2025), considering 2016 as the base year
- It elucidates potential revenue opportunity across different segments and explains attractive investment proposition matrices for this market
- This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategy adopted by the leading players
- It profiles leading players in the global exoskeleton market based on the following parameters – company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments, and strategies, and future plans
- Key companies covered as a part of this study Ekso Bionics, ActiveLink (Panasonic Corporation), Cyberdyne, Inc., ReWalk Robotics Ltd, Rex Bionics Plc., Lockheed Martin Corporation, Suit X (U.S. Bionics, Inc.), RB3D, Hocoma, DIH Technologies, Focal Meditech, and Ottobock.
- Insights from this report would allow marketers and the management authorities of the companies to make informed decision regarding their future product launch, product up-gradation, market expansion, and marketing tactics
- The global exoskeleton market report caters to various stakeholders in this industry including investors, suppliers, manufacturers, distributors, new entrants, and financial analysts
- Stakeholders would have ease in decision-making through the various strategy matrices used in analyzing the exoskeleton market
Detailed Segmentation:
- Global Exoskeleton Market, By Offering:
- Hardware
- Software
- Global Exoskeleton Market, By Product Type:
- Powered
- Passive
- Global Exoskeleton Market, By Mobility:
- Stationary
- Mobile
- Global Exoskeleton Market, By Body Parts:
- Lower Extremities
- Upper Extremities
- Full Body
- Global Exoskeleton Market, By Vertical:
- Healthcare
- Military
- Industrial
- Others
- Global Exoskeleton Market, By Geography:
- North America
- By Offering:
- Hardware
- Software
- By Product Type
- Powered
- Passive
- By Mobility
- Stationary
- Mobile
- By Body Parts
- Lower Extremities
- Upper Extremities
- Full Body
- By Vertical:
- Healthcare
- Military
- Industrial
- Others
- By Region
- U.S.
- Canada
- By Offering:
- Europe
- By Offering:
- Hardware
- Software
- By Product Type
- Powered
- Passive
- By Mobility
- Stationary
- Mobile
- By Body Parts
- Lower Extremities
- Upper Extremities
- Full Body
- By Vertical:
- Healthcare
- Military
- Industrial
- Others
- By Region
- U.K.
- Germany
- Italy
- France
- Russia
- Rest of Europe
- Asia Pacific
- By Offering:
- Hardware
- Software
- By Product Type
- Powered
- Passive
- By Mobility
- Stationary
- Mobile
- By Body Parts
- Lower Extremities
- Upper Extremities
- Full Body
- By Vertical:
- Healthcare
- Military
- Industrial
- Others
- By Region
- China
- India
- Japan
- ASEAN
- Australia
- South Korea
- Rest of Asia Pacific
- By Offering:
- Latin America
- By Offering:
- Hardware
- Software
- By Product Type
- Powered
- Passive
- By Mobility
- Stationary
- Mobile
- By Body Parts
- Lower Extremities
- Upper Extremities
- Full Body
- By Vertical:
- Healthcare
- Military
- Industrial
- Others
- By Region
- Brazil
- Mexico
- Rest of Latin America
- By Offering:
- Middle East
- By Offering:
- Hardware
- Software
- By Product Type
- Powered
- Passive
- By Mobility
- Stationary
- Mobile
- By Body Parts
- Lower Extremities
- Upper Extremities
- Full Body
- By Vertical:
- Healthcare
- Military
- Industrial
- Others
- By Region
- GCC
- Israel
- Rest of Middle East
- By Offering:
- Africa
- By Offering:
- Hardware
- Software
- By Product Type
- Powered
- Passive
- By Mobility
- Stationary
- Mobile
- By Body Parts
- Lower Extremities
- Upper Extremities
- Full Body
- By Vertical:
- Healthcare
- Military
- Industrial
- Others
- By Region
- North Africa
- Central Africa
- South Africa
- By Offering:
- Company Profiles
- Ekso Bionics
- Company Overview
- Product Portfolio
- Financial Performance
- Key Strategies
- Recent Developments
- Future Plans
- ActiveLink (Panasonic Corporation)
- Cyberdyne, Inc.
- ReWalk Robotics Ltd.
- Rex Bionics Plc.
- Lockheed Martin Corporation
- Suit X (U.S. Bionics, Inc.)
- RB3D
- Hocoma
- DIH Technologies
- Focal Meditech
- Ottobock.
- Ekso Bionics
“*” marked represents similar segmentation in other categories in the respective section.
Table of Contents
- Research Objective and assumption
- Research Objectives
- Assumptions
- Abbreviations
- Market Purview
- Report Description
- Market Definition and Scope
- Executive Summary
- Market Snippet By Offering
- Market Snippet By Product Type
- Market Snippet By Mobility
- Market Snippet By Body Parts
- Market Snippet By Vertical
- Market Snippet By Region
- Coherent Opportunity Map (COM)
- Market Dynamics, Regulations, and Trends Analysis
- Market Dynamics
- Drivers
- Restraints
- Market Opportunities
- Regulatory Scenario
- Industry Trend
- Merger and Acquisitions
- New Product Approvals/Launch
- Global Exoskeleton Market, By Offering, 2015 - 2025 (USD Million)
- Introduction
- Market Share Analysis, 2016 and 2025 (%)
- Segment Trends
- Hardware
- Introduction
- Market Size and Forecast, 2015 - 2025, (USD Million)
- Software
- Introduction
- Market Size and Forecast, 2015 - 2025, (USD Million)
- Global Exoskeleton Market, By Product Type, 2015 - 2025 (USD Million)
- Introduction
- Market Share Analysis, 2016 and 2025 (%)
- Segment Trends
- Powered
- Introduction
- Market Size and Forecast, 2015 - 2025, (USD Million)
- Passive
- Introduction
- Market Size and Forecast, 2015 - 2025, (USD Million)
- Global Exoskeleton Market, By Mobility, 2015 - 2025 (USD Million)
- Introduction
- Market Share Analysis, 2016 and 2025 (%)
- Segment Trends
- Stationary
- Introduction
- Market Size and Forecast, 2015 - 2025, (USD Million)
- Mobile
- Introduction
- Market Size and Forecast, 2015 - 2025, (USD Million)
- Global Exoskeleton Market, By Body Parts, 2015 - 2025 (USD Million)
- Introduction
- Market Share Analysis, 2016 and 2025 (%)
- Segment Trends
- Lower Extremities
- Introduction
- Market Size and Forecast, 2015 - 2025, (USD Million)
- Upper Extremities
- Introduction
- Market Size and Forecast, 2015 - 2025, (USD Million)
- Full Body
- Introduction
- Market Size and Forecast, 2015 - 2025, (USD Million)
- Global Exoskeleton Market, By Body Parts, 2015 - 2025 (USD Million)
- Introduction
- Market Share Analysis, 2016 and 2025 (%)
- Segment Trends
- Healthcare
- Introduction
- Market Size and Forecast, 2015 - 2025, (USD Million)
- Military
- Introduction
- Market Size and Forecast, 2015 - 2025, (USD Million)
- Industrial
- Introduction
- Market Size and Forecast, 2015 - 2025, (USD Million)
- Others
- Introduction
- Market Size and Forecast, 2015 - 2025, (USD Million)
- Global Exoskeleton Market, By Regions, 2015 - 2025 (USD Million)
- Introduction
- Market Share Analysis, By Region, 2016 and 2025 (%)
- North America
- By Country
- U.S.
- Canada
- By Segment
- Market Size and Forecast, By Offering, 2015 - 2025 (USD Million)
- Market Size and Forecast, By Product Type, 2015 - 2025 (USD Million)
- Market Size and Forecast, By Mobility, 2015 - 2025 (USD Million)
- Market Size and Forecast, By Body Parts, 2015 - 2025 (USD Million)
- Market Size and Forecast, By Verticals, 2015 - 2025 (USD Million)
- Europe
- By Country
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- By Segment
- Market Size and Forecast, By Offering, 2015 - 2025 (USD Million)
- Market Size and Forecast, By Product Type, 2015 - 2025 (USD Million)
- Market Size and Forecast, By Mobility, 2015 - 2025 (USD Million)
- Market Size and Forecast, By Body Parts, 2015 - 2025 (USD Million)
- Market Size and Forecast, By Verticals, 2015 - 2025 (USD Million)
- Asia Pacific
- By Country
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest Of Asia Pacific
- By Segment
- Market Size and Forecast, By Offering, 2015 - 2025 (USD Million)
- Market Size and Forecast, By Product Type, 2015 - 2025 (USD Million)
- Market Size and Forecast, By Mobility, 2015 - 2025 (USD Million)
- Market Size and Forecast, By Body Parts, 2015 - 2025 (USD Million)
- Market Size and Forecast, By Verticals, 2015 - 2025 (USD Million)
- Latin America
- By Country
- Brazil
- Mexico
- Rest Of Asia Pacific
- By Segment
- Market Size and Forecast, By Offering, 2015 - 2025 (USD Million)
- Market Size and Forecast, By Product Type, 2015 - 2025 (USD Million)
- Market Size and Forecast, By Mobility, 2015 - 2025 (USD Million)
- Market Size and Forecast, By Body Parts, 2015 - 2025 (USD Million)
- Market Size and Forecast, By Verticals, 2015 - 2025 (USD Million)
- Africa
- By Country
- South Africa
- Central Africa
- North Africa
- By Segment
- Market Size and Forecast, By Offering, 2015 - 2025 (USD Million)
- Market Size and Forecast, By Product Type, 2015 - 2025 (USD Million)
- Market Size and Forecast, By Mobility, 2015 - 2025 (USD Million)
- Market Size and Forecast, By Body Parts, 2015 - 2025 (USD Million)
- Market Size and Forecast, By Verticals, 2015 - 2025 (USD Million)
- Middle East
- By Country
- GCC
- Israel
- Rest Of Middle East
- By Segment
- Market Size and Forecast, By Offering, 2015 - 2025 (USD Million)
- Market Size and Forecast, By Product Type, 2015 - 2025 (USD Million)
- Market Size and Forecast, By Mobility, 2015 - 2025 (USD Million)
- Market Size and Forecast, By Body Parts, 2015 - 2025 (USD Million)
- Market Size and Forecast, By Verticals, 2015 - 2025 (USD Million)
- Competitive Landscape
- Company Profiles
- Ekso Bionics
- Company Overview
- Product Portfolio
- Financial Performance
- Recent Developments/Updates
- ActiveLink (Panasonic Corporation)
- Company Overview
- Product Portfolio
- Financial Performance
- Recent Developments/Updates
- Cyberdyne, Inc.
- Company Overview
- Product Portfolio
- Financial Performance
- Recent Developments/Updates
- ReWalk Robotics Ltd.
- Company Overview
- Product Portfolio
- Financial Performance
- Recent Developments/Updates
- Rex Bionics Plc.
- Company Overview
- Product Portfolio
- Financial Performance
- Recent Developments/Updates
- Lockheed Martin Corporation
- Company Overview
- Product Portfolio
- Financial Performance
- Recent Developments/Updates
- Suit X
- Company Overview
- Product Portfolio
- Financial Performance
- Recent Developments/Updates
- RB3D
- Company Overview
- Product Portfolio
- Financial Performance
- Recent Developments/Updates
- Hocoma
- Company Overview
- Product Portfolio
- Financial Performance
- Recent Developments/Updates
- DIH Technologies
- Company Overview
- Product Portfolio
- Financial Performance
- Recent Developments/Updates
- Focal Meditech
- Company Overview
- Product Portfolio
- Financial Performance
- Recent Developments/Updates
- Ottobock
- Company Overview
- Product Portfolio
- Financial Performance
- Recent Developments/Updates
- Analyst Views
- Section
- References
- Research Methodology
- About us and Sales Contact
- Available Customizations
- Global Mobile Robotics Market
- Global Industrial Robot Cell Market
- Global Unmanned Surface Vehicles Market
*Browse all the market data tables and figures on "Exoskeleton Market- Global forecast to 2025”.
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