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 : 250 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”.
Research Methodology
Coherent Market Insights followsa comprehensive research methodology focused on providing the most precise market analysis. The company leverages a data triangulation model which helps company to gauge the market dynamics and provide accurate estimates. Key components of the research methodologies followed for all our market reports include:
- Primary Research (Trade Surveys and Experts Interviews)
- Desk Research
- Proprietor Data Analytics Model
In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.
Coherent Market Insights desk research is based on a principle set of research techniques:
- National level desk research: It Includes research analysis of regional players, regional regulatory bodies, regional trade associations, and regional organization.
- Multinational level desk research: The research team keeps a track of multinational players, global regulatory bodies, global trade associations, and global organization.
Coherent Market Insights has a large amount of in-house repository of industry database. This is leveraged as a burner for initiating a new research study. Key secondary sources include:
- Governmental bodies, National and international social welfare institutions, and organizations creating economic policies among others.
- Trade association, National and international media and trade press.
- Company Annual reports, SEC filings, Corporate Presentations, press release, news, and specification sheet of manufacturers, system integrators, brick and mortar - distributors and retailers, and third party online commerce players.
- Scientific journals, and other technical magazines and whitepapers.
Preliminary Data Mining
The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.
Data Standardization:
Holistic approach is used to ensure that the granular and uncommon parameters are taken into consideration to ensure accurate results. The information from the paid databases are further combined to the raw data in order to standardize it.
Coherent Statistical model
We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:
- Micro-economic indicators
- Macro-economic indicators
- Environmental indicators
- Socio-political indicators
- Technology indicators
Data Processing
Once the findings are derived from the statistical model, large volume of data is process to confirm accurate research results. Data analytics and processing tools are adopted to process large chunk of collected informative data. In case, a client customizes the study during the process, the research finding till then are benchmarked, and the process for new research requirement is initiated again.
Data Validation
This is the most crucial stage of the research process. Primary Interviews are conducted to validate the data and analysis. This helps in achieving the following purposes:
- It provides first-hand information on the market dynamics, outlook, and growth parameters.
- Industry experts validates the estimates which helps the company to cement the on-going research study.
- Primary research includes online surveys, face-to face interviews, and telephonic interviews.
The primary research is conducted with the ecosystem players including, but not limited to:
- Raw Material Suppliers
- Manufacturers
- System Integrators
- Distributors
- End-users
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