Market Overview:
The global exoskeleton system market exhibited robust growth during 2015-2020. Looking forward, IMARC Group expects the market to grow at a CAGR of 43.3% during 2021-2026. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end-use industries. These insights are included in the report as a major market contributor.
An exoskeleton system is a wearable man-machine mechanism that utilizes human intelligence and machine power to provide mechanical strength to the user. It consists of a powered wearable suit that is designed to improve user safety and enhance the overall efficiency to perform specific tasks. It uses smart algorithms that adjust and adapt according to the human body motions and is equipped with various sensors and electrical connections to control the components. Exo-suits assist in lifting heavy materials and reduce stress on the user’s back muscles and spine. Also, they enable the elderly to walk with ease and prevent fall-related injuries. Currently, these systems find extensive applicability across various sectors including healthcare, military and industrial.
Global Exoskeleton System Market Trends and Drivers:
The growing need for exoskeletons in the rehabilitation centers along with the increasing industrial activities across the globe are the key factors driving the market growth. The development of motor-equipped robots to assist human body mechanics is another factor contributing to the market growth. The growing prevalence of heart strokes, spinal cord injuries and paralysis among patients has also driven the demand for exoskeletons in the healthcare sector.
The rising adoption rates of exoskeletons across military and industrial sectors are providing a boost to the exoskeleton system market growth. In these sectors, the systems are custom-fitted according to body parts and are made using fiberglass, carbon fiber and aluminum depending on the strength required. Moreover, they efficiently provide support to multiple joints and detect human movements to initiate the appropriate responses of the exoskeleton actuators, thus boosting the product demand further in the military and industrial sectors.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global exoskeleton system market report, along with forecasts for growth at the global, regional and country level from 2021-2026. Our report has categorized the market based on component, type, mobility, body part, end use sector and region.
- Market Breakup by Component:
- Hardware
- Sensors
- Actuators
- Power Sources
- Control Systems
- Other Components
- Software
- Market Breakup by Type:
- Market Breakup by Mobility:
- Market Breakup by Body Part:
- Lower Body
- Upper Body
- Full Body
- Market Breakup by End Use Sector:
- Healthcare
- Defense
- Industrial
- Others
- Market Breakup by Region:
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- Latin America
- Historical, Current and Future Market Trends
Competitive Landscape:
The global exoskeleton system market is highly fragmented with the presence of several small and large players. Some of the major players in the market are:
- Bionik Laboratories
- Suitx
- Gogoa Mobility Solutions
- Exhauss
- Atoun
- Fourier Intelligence
- Honda Motor
- Daiya Industry Company
- Mitsubishi Heavy Industries
- Rex Bionics
- Myomo
- Gobio Robot
- Parker Hannifin
- Wandercraft
- P&S Mechanics
Key Questions Answered in This Report
We expect the global exoskeleton system market to exhibit a CAGR of 43.3% during 2021-2026.
Sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations resulting in disrupted supply chains and temporary closure of numerous manufacturing units for exoskeleton systems.
The growing need for exoskeletons in the rehabilitation centers, along with rising prevalence of heart strokes, spinal cord injuries, paralysis, etc., represent some of the factors catalyzing the global exoskeleton market.
Based on the component, the global exoskeleton system market has been segmented into hardware and software, where hardware currently holds the majority of the total market share.
Based on type, the global exoskeleton system market can be bifurcated into powered exoskeleton and passive exoskeleton. Currently, powered type dominates the market share.
Based on the end use sector, the global exoskeleton system market has been divided into healthcare, defense, industrial, and others. Among these, the healthcare sector accounts for the majority of the total market share.
Based on the mobility, the global exoskeleton system market can be categorized into stationary and mobile. Currently, mobile holds the largest market share.
Some of the major players in the global exoskeleton system market include Bionik Laboratories, Suitx, Gogoa Mobility Solutions, Exhauss, Atoun, Fourier Intelligence, Honda Motor, Daiya Industry Company, Mitsubishi Heavy Industries, Rex Bionics, Myomo, Gobio Robot, Parker Hannifin, Wandercraft, P&S Mechanics, etc.
1 Preface
2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global Exoskeleton System Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Breakup by Component
5.5 Market Breakup by Type
5.6 Market Breakup by Mobility
5.7 Market Breakup by Body Part
5.8 Market Breakup by End-Use Sector
5.9 Market Breakup by Region
5.10 Market Forecast
6 Market Breakup by Component
6.1 Hardware
6.1.1 Market Trends
6.1.2 Major Component Types
6.1.2.1 Sensors
6.1.2.2 Actuators
6.1.2.3 Power Sources
6.1.2.4 Control Systems
6.1.2.5 Other Components
6.1.3 Market Forecast
6.2 Software
6.2.1 Market Trends
6.2.2 Market Forecast
7 Market Breakup by Type
7.1 Powered
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 Passive
7.2.1 Market Trends
7.2.2 Market Forecast
8 Market Breakup by Mobility
8.1 Stationary
8.1.1 Market Trends
8.1.2 Market Forecast
8.2 Mobile
8.2.1 Market Trends
8.2.2 Market Forecast
9 Market Breakup by Body Part
9.1 Lower Body
9.1.1 Market Trends
9.1.2 Market Forecast
9.2 Upper Body
9.2.1 Market Trends
9.2.2 Market Forecast
9.3 Full Body
9.3.1 Market Trends
9.3.2 Market Forecast
10 Market Breakup by End-Use Sector
10.1 Healthcare
10.1.1 Market Trends
10.1.2 Market Forecast
10.2 Defense
10.2.1 Market Trends
10.2.2 Market Forecast
10.3 Industrial
10.3.1 Market Trends
10.3.2 Market Forecast
10.4 Others
10.4.1 Market Trends
10.4.2 Market Forecast
11 Market Breakup by Region
11.1 North America
11.1.1 Market Trends
11.1.2 Market Forecast
11.2 Europe
11.2.1 Market Trends
11.2.2 Market Forecast
11.3 Asia Pacific
11.3.1 Market Trends
11.3.2 Market Forecast
11.4 Middle East and Africa
11.4.1 Market Trends
11.4.2 Market Forecast
11.5 Latin America
11.5.1 Market Trends
11.5.2 Market Forecast
12 SWOT Analysis
12.1 Overview
12.2 Strengths
12.3 Weaknesses
12.4 Opportunities
12.5 Threats
13 Value Chain Analysis
14 Porter’s Five Forces Analysis
14.1 Overview
14.2 Bargaining Power of Buyers
14.3 Bargaining Power of Suppliers
14.4 Degree of Competition
14.5 Threat of New Entrants
14.6 Threat of Substitutes
15 Price Analysis
16 Competitive Landscape
16.1 Market Structure
16.2 Key Players
16.3 Profiles of Key Players
16.3.1 Bionik Laboratories
16.3.2 Suitx
16.3.3 Gogoa Mobility Solutions
16.3.4 Exhauss
16.3.5 Atoun
16.3.6 Fourier Intelligence
16.3.7 Honda Motor
16.3.8 Daiya Industry Company
16.3.9 Mitsubishi Heavy Industries
16.3.10 Rex Bionics
16.3.11 Myomo
16.3.12 Gobio Robot
16.3.13 Parker Hannifin
16.3.14 Wandercraft
16.3.15 P&S Mechanics
List of Figures
Figure 1: Global: Exoskeleton System Market: Major Drivers and Challenges
Figure 2: Global: Exoskeleton System Market: Sales Value (in Billion US$), 2015 - 2020
Figure 3: Global: Exoskeleton System Market: Breakup by Component (in %), 2020
Figure 4: Global: Exoskeleton System Market: Breakup by Type (in %), 2020
Figure 5: Global: Exoskeleton System Market: Breakup by Mobility (in %), 2020
Figure 6: Global: Exoskeleton System Market: Breakup by Body Part (in %), 2020
Figure 7: Global: Exoskeleton System Market: Breakup by End-Use Sector (in %), 2020
Figure 8: Global: Exoskeleton System Market: Breakup by Region (in %), 2020
Figure 9: Global: Exoskeleton System Market Forecast: Sales Value (in Billion US$), 2021-2026
Figure 10: Global: Exoskeleton System Industry: SWOT Analysis
Figure 11: Global: Exoskeleton System Industry: Value Chain Analysis
Figure 12: Global: Exoskeleton System Industry: Porter’s Five Forces Analysis
Figure 13: Global: Exoskeleton System (Hardware) Market: Sales Value (in Million US$), 2015 & 2020
Figure 14: Global: Exoskeleton System (Hardware) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 15: Global: Exoskeleton System (Software) Market: Sales Value (in Million US$), 2015 & 2020
Figure 16: Global: Exoskeleton System (Software) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 17: Global: Exoskeleton System (Powered) Market: Sales Value (in Million US$), 2015 & 2020
Figure 18: Global: Exoskeleton System (Powered) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 19: Global: Exoskeleton System (Passive) Market: Sales Value (in Million US$), 2015 & 2020
Figure 20: Global: Exoskeleton System (Passive) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 21: Global: Exoskeleton System (Stationary) Market: Sales Value (in Million US$), 2015 & 2020
Figure 22: Global: Exoskeleton System (Stationary) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 23: Global: Exoskeleton System (Mobile) Market: Sales Value (in Million US$), 2015 & 2020
Figure 24: Global: Exoskeleton System (Mobile) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 25: Global: Exoskeleton System (Lower Body) Market: Sales Value (in Million US$), 2015 & 2020
Figure 26: Global: Exoskeleton System (Lower Body) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 27: Global: Exoskeleton System (Upper Body) Market: Sales Value (in Million US$), 2015 & 2020
Figure 28: Global: Exoskeleton System (Upper Body) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 29: Global: Exoskeleton System (Full Body) Market: Sales Value (in Million US$), 2015 & 2020
Figure 30: Global: Exoskeleton System (Full Body) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 31: Global: Exoskeleton System (Healthcare) Market: Sales Value (in Million US$), 2015 & 2020
Figure 32: Global: Exoskeleton System (Healthcare) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 33: Global: Exoskeleton System (Defense) Market: Sales Value (in Million US$), 2015 & 2020
Figure 34: Global: Exoskeleton System (Defense) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 35: Global: Exoskeleton System (Industrial) Market: Sales Value (in Million US$), 2015 & 2020
Figure 36: Global: Exoskeleton System (Industrial) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 37: Global: Exoskeleton System (Other End Use Sectors) Market: Sales Value (in Million US$), 2015 & 2020
Figure 38: Global: Exoskeleton System (Other End Use Sectors) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 39: North America: Exoskeleton System Market: Sales Value (in Million US$), 2015 & 2020
Figure 40: North America: Exoskeleton System Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 41: Europe: Exoskeleton System Market: Sales Value (in Million US$), 2015 & 2020
Figure 42: Europe: Exoskeleton System Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 43: Asia Pacific: Exoskeleton System Market: Sales Value (in Million US$), 2015 & 2020
Figure 44: Asia Pacific: Exoskeleton System Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 45: Middle East and Africa: Exoskeleton System Market: Sales Value (in Million US$), 2015 & 2020
Figure 46: Middle East and Africa: Exoskeleton System Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 47: Latin America: Exoskeleton System Market: Sales Value (in Million US$), 2015 & 2020
Figure 48: Latin America: Exoskeleton System Market Forecast: Sales Value (in Million US$), 2021-2026
List of Tables
Table 1: Global: Exoskeleton System Market: Key Industry Highlights, 2020 and 2026
Table 2: Global: Exoskeleton System Market Forecast: Breakup by Component (in Million US$), 2021-2026
Table 3: Global: Exoskeleton System Market Forecast: Breakup by Type (in Million US$), 2021-2026
Table 4: Global: Exoskeleton System Market Forecast: Breakup by Mobility (in Million US$), 2021-2026
Table 5: Global: Exoskeleton System Market Forecast: Breakup by Body Part (in Million US$), 2021-2026
Table 6: Global: Exoskeleton System Market Forecast: Breakup by End Use Sector (in Million US$), 2021-2026
Table 7: Global: Exoskeleton System Market Forecast: Breakup by Region (in Million US$), 2021-2026
Table 8: Global: Exoskeleton System Market: Competitive Structure
Table 9: Global: Exoskeleton System Market: Key Players