Exoskeleton System Market Report by Component (Hardware, Software), Type (Powered, Passive), Mobility (Stationery, Mobile), Body Part (Lower Body, Upper Body, Full Body), End-Use Sector (Healthcare, Defense, Industrial, and Others), and Region 2024-2032
The global exoskeleton system market size reached US$ 1,157.1 Million in 2023. Looking forward, IMARC Group expects the market to reach US$ 25,700.7 Million by 2032, exhibiting a growth rate (CAGR) of 39.9% during 2024-2032.
Report Attribute
Key Statistics
Base Year
2023
Forecast Years
2024-2032
Historical Years
2018-2023
Market Size in 2023
US$ 1,157.1 Million
Market Forecast in 2032
US$ 25,700.7 Million
Market Growth Rate (2024-2032)
39.9%
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.
Note: Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends.
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Exoskeleton System Market Trends:
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 segment of the global exoskeleton system market report, along with forecasts at the global and regional levels from 2024-2032. Our report has categorized the market based on component, type, mobility, body part, and end-use sector.
Breakup by Component:
Hardware
Sensors
Actuators
Power Sources
Control Systems
Other Components
Software
Breakup by Type:
Note: Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends.
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Powered
Passive
Breakup by Mobility:
Stationery
Mobile
Breakup by Body Part:
Lower Body
Upper Body
Full Body
Breakup by End-Use Sector:
Healthcare
Defense
Industrial
Others
Breakup by Region:
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North America
Europe
Asia Pacific
Middle East and Africa
Latin America
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 Corp.
SuitX (US Bionics, Inc.)
Gogoa Mobility Robots, S.L.
Exhauss Exoskeleton
Atoun Inc.
Fourier Intelligence Co. Ltd.
Honda Motor Co., Ltd.
Daiya Industry Co. Ltd.
Mitsubishi Heavy Industries Ltd.
Rex Bionics Ltd.
Myomo Inc.
Gobio Robot
Parker Hannifin Corp.
Wandercraft SAS
P&S Mechanics Co. Ltd.
Report Coverage:
Report Features
Details
Base Year of the Analysis
2023
Historical Period
2018-2023
Forecast Period
2024-2032
Units
US$ Million
Segment Coverage
Component, Type, Mobility, Body Part, End-Use Sector, Region
Region Covered
Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Companies Covered
Bionik Laboratories Corp., SuitX (US Bionics, Inc.), Gogoa Mobility Robots, S.L., Exhauss Exoskeleton, Atoun Inc., Fourier Intelligence Co. Ltd., Honda Motor Co., Ltd., Daiya Industry Co. Ltd., Mitsubishi Heavy Industries Ltd., Rex Bionics Ltd., Myomo Inc., Gobio Robot, Parker Hannifin Corp., Wandercraft SAS and P&S Mechanics Co. Ltd.
Customization Scope
10% Free Customization
Report Price and Purchase Option
Single User License: US$ 3899
Five User License: US$ 4899
Corporate License: US$ 5899
Post-Sale Analyst Support
10-12 Weeks
Delivery Format
PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)
Key Questions Answered in This Report
We expect the global exoskeleton system market to exhibit a CAGR of 39.9% during 2024-2032.
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 software currently holds the majority of the total market share.
Based on type, the global exoskeleton system market can be bifurcated into powered and passive. 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 stationery and mobile. Currently, mobile holds the largest market share.
Some of the major players in the global exoskeleton system market include Bionik Laboratories Corp., SuitX (US Bionics, Inc.), Gogoa Mobility Robots, S.L., Exhauss Exoskeleton, Atoun Inc., Fourier Intelligence Co. Ltd., Honda Motor Co., Ltd., Daiya Industry Co. Ltd., Mitsubishi Heavy Industries Ltd., Rex Bionics Ltd., Myomo Inc., Gobio Robot, Parker Hannifin Corp., Wandercraft SAS and P&S Mechanics Co. Ltd.
On a regional level, the market has been classified into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa, where North America currently dominates the global market.
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