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Exoskeleton Robots - Global Strategic Business Report

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    Report

  • 425 Pages
  • March 2024
  • Region: Global
  • Global Industry Analysts, Inc
  • ID: 4804950

Global Exoskeleton Robots Market to Reach $4.6 Billion by 2030

The global market for Exoskeleton Robots estimated at US$489.9 Million in the year 2022, is projected to reach a revised size of US$4.6 Billion by 2030, growing at a CAGR of 32.2% over the analysis period 2022-2030. Hardware, one of the segments analyzed in the report, is projected to record 30.2% CAGR and reach US$3.2 Billion by the end of the analysis period. Growth in the Software segment is estimated at 38.4% CAGR for the next 8-year period.

The U.S. Market is Estimated at $210.3 Million, While China is Forecast to Grow at 40.9% CAGR

The Exoskeleton Robots market in the U.S. is estimated at US$210.3 Million in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$783 Million by the year 2030 trailing a CAGR of 40.9% over the analysis period 2022 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 25.8% and 33.8% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 31.3% CAGR.

Select Competitors (Total 100 Featured) -

  • AiTreat Pte. Ltd.
  • Cyberdyne, Inc.
  • BIONIK Laboratories Corporation
  • Ekso Bionics Holdings, Inc.
  • HandyRehab
  • KUKA AG
  • Lockheed Martin Corporation
  • Ottobock SE & Co. KGaA
  • Sarcos Corporation
  • Tyromotion GmbH

What`s New?

  • Special discussions on the global economic climate and market sentiment
  • Coverage on global competitiveness and key competitor percentage market shares
  • Market presence analysis across multiple geographies - Strong/Active/Niche/Trivial
  • Online interactive peer-to-peer collaborative bespoke updates
  • Access to digital archives and research platform
  • Complimentary updates for one year
  • Access to curated YouTube video transcripts of market sentiments shared by CEOs, domain experts and market influencers via interviews, podcasts, press statements and event keynotes

Economic Outlook

The global economic outlook is improving, and growth recovery, albeit on the lower side, is expected for this year and the next. The United States although witnessing slowing GDP growth in response to tight monetary and financial conditions, has nevertheless overcome the recession threat. Easing of headline inflation in Euro area is helping boost real incomes and is contributing to pick-up in economic activity. China is expected to see strong increases in GDP in the coming year as the pandemic threat recedes and the government sheds its zero-COVID policy. With optimistic GDP projections, India remains on-course to emerge into a US trillion economy by 2030, surpassing Japan and Germany.

The upturn, however, remains fragile and a number of interlocking challenges continue to run in parallel, such as continued uncertainty around the war in Ukraine; slower than expected decline in global headline inflation; continuation of food and fuel inflation as a persistent economic problem for most developing countries; and still high retail inflation and its impact on consumer confidence and spending. Countries and their governments are showing signs of weathering these challenges, which helps lift market sentiments. As governments continue to combat inflation to get it down to more economically conformable levels by raising interest rates, new job creation will slowdown and impact economic activity. Stricter regulatory environment and pressure to mainstream climate change into economic decisions will compound the complexity of challenges faced.

Although corporate investments can likely be held back by inflation worries and weaker demand, rise of new technologies will reverse partially this prevailing investment sentiment. Rise of generative AI; applied AI; industrializing machine learning; next-generation software development; Web3; cloud and edge computing; quantum technologies; electrification and renewables and climate technologies beyond electrification and renewables, will open up the global investment landscape. The technologies hold the potential to drive sizeable incremental growth and value to global GDP in the coming years. The short-term is expected to be a mixed bag of challenges and opportunities for both consumers and investors alike. There is always opportunity for businesses and their leaders who can chart a path forward with resilience and adaptability.

Table of Contents

I. METHODOLOGYII. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
  • The Age of Robotics is Here!
  • Exciting New Technologies Shaping Growth
  • Exhibit 1: The Growing Clout of Robotics Technology Lays the Foundation for the Growth of Exoskeleton Robots: Global Market Opportunity for Robotics (In US$ Billion) for Years 2023, 2025, 2027, 2029, and 2032
  • Exploring the Future of Human Augmentation: Bridging Science Fiction and Reality
  • Exoskeleton Robots: Wearable Machines to Augment Human Strength
  • Active & Passive Exoskeletons
  • Key Applications of Exoskeleton Robots
  • Global Economic Update
  • World Shifts to an Endemic COVID-19 Strategy With Focus on Multilateral Approach to Managing Future Pandemics
  • From Pandemic to War & Inflation: “Subdued Outlook for 2023 Despite Signs of Easing Inflationary Conditions”
  • Here’s How Inflationary Pressures Affect the Economy
  • Russia-Ukraine War, the Primary Culprit Responsible for the Hardships
  • Although Past Peak in 2023, Efforts to Solve the Inflation Puzzle Should Continue
  • What’s Causing Inflationary Pressures in the Global Market
  • Exhibit 2: Slower Than Anticipated Decline Makes Inflation a Stickier Than Expected Problem to Solve in 2023: Global Inflation Rates (In %) for the Years 2019 through 2024
  • Exhibit 3: Global Economy Faces a Tough Climb Towards Recovery Made Rockier by the War, Persistent Challenges & Slower Decline in Underlying Core Inflation: World Economic Growth Projections (Real GDP, Annual % Change) for the Years 2020 Through 2024
  • COVID-19 Provides Major Springboard to Full-Body, Powered Exoskeleton Deployment
  • Pandemic Compels Senior Care Facilities to Use Modern Technologies for Better Care
  • Disruptions in Military Training Inflicts Direct Blow on Exoskeleton Robotics Market
  • Rising Demand Amps Up Global Robotic Exoskeletons Market to Action-Packed Future
  • Mobile Exoskeletons Dominate and Buoy the Market
  • High Adoption in Medical & Military Applications
  • North America Remains the Most Lucrative Market
  • Competition
  • Exhibit 4: Exoskeleton Robots - Global Key Competitors Percentage Market Share in 2023 (E)
  • Competitive Market Presence - Strong/Active/Niche for Players Worldwide in 2023 (E)
  • A Glance at Select Exoskeletons in Various Sectors
  • Recent Market Activity
  • Influencer/Product/Technology Insights
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
  • The Growing World of Human Augmentation Bodes Well for Exoskeleton Designs for Enhancing Human Performance
  • Why Exoskeleton Robots Hold Relevance
  • Advancing Technology for Human Augmentation Paving the Way for New Design Concepts in Exoskeletons
  • How AI Technology is Revolutionizing Robotic Exoskeletons
  • Recent Technological Advancements in Exoskeleton Robots Fuel Growth Prospects
  • Innovations in Exoskeleton Robots Opening New Avenues for Jaw Rehabilitation
  • Researchers Develop Wearable Robot to Support Walking
  • AI-Based Exoskeleton Holds Capability to Estimate User Intentions
  • Sarcos Robotics Unveils Guardian XO
  • Innovative Robotic Boot Turns Heads with Incredible Improvement in Walking Speed
  • Healthcare Sector Steers Momentum in the Exoskeleton Robots Market
  • Rehabilitation Exoskeleton Robots Set to Make Big Gains
  • Potential Implications of Exoskeleton Robots for Physical Rehabilitation
  • Exoskeleton Robots Helping Paraplegics to Walk Again
  • Increasing Incidence of Neurological, Musculoskeletal and Chronic Medical Conditions to Steer Adoption
  • Exhibit 5: Global Osteoporosis Prevalence: Number of People with Osteoporosis in Millions by Select Country/Region for 2012 and 2022
  • Exhibit 6: Percentage (%) of Women Affected by Osteoporosis
  • Importance of Physical Therapy for Stroke Survivors Bodes Well
  • Select Arm and Hand Robotic Devices
  • Select Leg and Foot Robotic Devices
  • Rising Incidence of Physical Disabilities Steers Importance of Rehabilitation Robots
  • Exhibit 7: Percentage of Population with Disabilities by Age Group
  • Growing Geriatric Population & Parallel Rise in Prevalence of Age-Related Conditions: Strong Business Case for Rehabilitation Exoskeleton Robots
  • Exhibit 8: Global Aging Population Statistics for the 65+ Age Group in Million by Geographic Region for the Years 2019, 2025, 2035 and 2050
  • Exhibit 9: Elderly Population (65+ Years) as a % of Total Population by Developed, Less Developed and Least Developed Regions: 2019 & 2030
  • Rising Care Costs & Shortage of Home Care Workers for Disabled and Elderly Turn Focus onto Rehabilitation Robots
  • Exhibit 10: Annual Cost of Full-Time Home Health Aide (in $) in the US for 2004-2022
  • Exhibit 11: Long-term Care Workers in the US: Percentage Breakdown of Workforce by Type for 2020
  • Resolving Prevailing Issues & Challenges: Critical for Future Success of Rehabilitation Exoskeleton Robots
  • Exoskeleton Robots Poised to Transform Industrial Sector
  • Exoskeleton Robots to Play a Vital Role in Transforming Industries and Society
  • Why Robotic Exoskeletons are a Huge Draw for Modern Industrial Landscape?
  • Industrial Exoskeleton Robots Promise Increased Worker Productivity & Reduced Workplace Injuries
  • Current Trends in Industrial Automation & Industry 4.0 Favor Uptake
  • Exhibit 12: Global Industry 4.0 Market Size in US$ Billion for the Years 2022, 2024, 2026 and 2028
  • As Defense Departments Lean towards Advanced Technologies, Opportunities Galore for Military Exoskeleton Robots
  • Exhibit 13: Military Spending by Top Countries in 2023 (In US$ Billion)
  • New Range of Military Exoskeletons Come to the Fore to Address Stringent Requirements of Infantry Squads
  • Emphasis on Soldier Protection & Strengthening Infantry Capabilities Widen the Business Case
  • Exhibit 14: Global Active Ready-to-Fight Military Manpower: Active Military Personnel (In 000s) by Country
  • Exoskeleton Robots Augment Military Wearable Technology
  • AI Steps into Reinforce Military Exoskeleton Robots
  • US Marines Test Real-Life Exoskeleton Robots
  • Construction Sector: A Niche Domain for Exoskeleton Robots
  • Advancements in Exoskeleton Technology for Construction Industry
  • Exoskeleton Suits Make Big Inroads in Automotive Industry to Lighten Worker Load
  • Movers Move without Pauses with Robotic Exoskeleton Technology
  • Smart Exoskeleton Market Poised to Witness Robust Growth
  • Smart Textiles to Play an Important Role in the Development of Smart Exoskeletons
  • Exhibit 15: Global Smart Textiles Market (In US$ Billion) for the Years 2021, 2023, 2025 and 2027
  • Major Challenges Associated with Exoskeleton Robots
  • Lack of Standards Holding Back Exoskeleton Adoption
4. GLOBAL MARKET PERSPECTIVE
  • Table 1: World Exoskeleton Robots Market Analysis of Annual Sales in US$ Thousand for Years 2022 through 2030
  • Table 2: World Recent Past, Current & Future Analysis for Exoskeleton Robots by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2022 through 2030 and % CAGR
  • Table 3: World 8-Year Perspective for Exoskeleton Robots by Geographic Region - Percentage Breakdown of Value Revenues for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets for Years 2023 & 2030
  • Table 4: World Recent Past, Current & Future Analysis for Hardware by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2022 through 2030 and % CAGR
  • Table 5: World 8-Year Perspective for Hardware by Geographic Region - Percentage Breakdown of Value Revenues for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2023 & 2030
  • Table 6: World Recent Past, Current & Future Analysis for Software by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2022 through 2030 and % CAGR
  • Table 7: World 8-Year Perspective for Software by Geographic Region - Percentage Breakdown of Value Revenues for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2023 & 2030
  • Table 8: World Recent Past, Current & Future Analysis for Mobile by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2022 through 2030 and % CAGR
  • Table 9: World 8-Year Perspective for Mobile by Geographic Region - Percentage Breakdown of Value Revenues for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2023 & 2030
  • Table 10: World Recent Past, Current & Future Analysis for Fixed / Stationary by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2022 through 2030 and % CAGR
  • Table 11: World 8-Year Perspective for Fixed / Stationary by Geographic Region - Percentage Breakdown of Value Revenues for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2023 & 2030
  • Table 12: World Recent Past, Current & Future Analysis for Lower Body by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2022 through 2030 and % CAGR
  • Table 13: World 8-Year Perspective for Lower Body by Geographic Region - Percentage Breakdown of Value Revenues for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2023 & 2030
  • Table 14: World Recent Past, Current & Future Analysis for Upper Body by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2022 through 2030 and % CAGR
  • Table 15: World 8-Year Perspective for Upper Body by Geographic Region - Percentage Breakdown of Value Revenues for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2023 & 2030
  • Table 16: World Recent Past, Current & Future Analysis for Full Body by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2022 through 2030 and % CAGR
  • Table 17: World 8-Year Perspective for Full Body by Geographic Region - Percentage Breakdown of Value Revenues for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2023 & 2030
  • Table 18: World Recent Past, Current & Future Analysis for Healthcare by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2022 through 2030 and % CAGR
  • Table 19: World 8-Year Perspective for Healthcare by Geographic Region - Percentage Breakdown of Value Revenues for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2023 & 2030
  • Table 20: World Recent Past, Current & Future Analysis for Military & Defense by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2022 through 2030 and % CAGR
  • Table 21: World 8-Year Perspective for Military & Defense by Geographic Region - Percentage Breakdown of Value Revenues for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2023 & 2030
  • Table 22: World Recent Past, Current & Future Analysis for Other End-Uses by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2022 through 2030 and % CAGR
  • Table 23: World 8-Year Perspective for Other End-Uses by Geographic Region - Percentage Breakdown of Value Revenues for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2023 & 2030
III. MARKET ANALYSIS
UNITED STATES
  • Exoskeleton Robots Market Presence - Strong/Active/Niche - Key Competitors in the United States for 2023 (E)
  • Aging Demographics and Rise in People with Disabilities to Drive Adoption of Exoskeleton Robots in Healthcare Setup
  • Exhibit 16: US Population by Age Group (in %) for 2018, 2030 & 2050
  • Emphasis on Home Healthcare Augurs Well for Market Expansion
  • Market Analytics
CANADA
JAPAN
  • Exoskeleton Robots Market Presence - Strong/Active/Niche - Key Competitors in Japan for 2023 (E)
  • Market Overview
  • Exhibit 17: Aging Population in Japan: 65+ Individuals as % of Total Population for 2012-2022
  • Market Analytics
CHINA
  • Exoskeleton Robots Market Presence - Strong/Active/Niche - Key Competitors in China for 2023 (E)
  • Market Analytics
EUROPE
  • Exoskeleton Robots Market Presence - Strong/Active/Niche - Key Competitors in Europe for 2023 (E)
  • Market Overview
  • Aging Population: A Key Driver of Healthcare Exoskeleton Robotics Market Growth
  • Exhibit 18: Elderly Population in Europe: 65+ People as % of Total Population in Select European Countries for 2022
  • Market Analytics
FRANCEGERMANYITALYUNITED KINGDOMREST OF EUROPE
ASIA-PACIFIC
  • Exoskeleton Robots Market Presence - Strong/Active/Niche - Key Competitors in Asia-Pacific for 2023 (E)
  • India: Assistive Technologies for Disabled Individuals
  • Market Analytics
REST OF WORLDIV. COMPETITION

Companies Mentioned (Partial List)

A selection of companies mentioned in this report includes, but is not limited to:

  • AiTreat Pte. Ltd.
  • Cyberdyne, Inc.
  • BIONIK Laboratories Corporation
  • Ekso Bionics Holdings, Inc.
  • HandyRehab
  • KUKA AG
  • Lockheed Martin Corporation
  • Ottobock SE & Co. KGaA
  • Sarcos Corporation
  • Tyromotion GmbH

Table Information