The wearable robotic exoskeleton market size has grown exponentially in recent years. It will grow from $1.16 billion in 2023 to $1.71 billion in 2024 at a compound annual growth rate (CAGR) of 47.3%. The growth observed in the historical period can be attributed to several factors, including success stories and early adopters, heightened media and public awareness, improvements in human-machine interfaces, a growing awareness of challenges associated with an aging population, and an increased focus on workplace safety.
The wearable robotic exoskeleton market size is expected to see exponential growth in the next few years. It will grow to $7.12 billion in 2028 at a compound annual growth rate (CAGR) of 42.9%. The projected growth in the forecast period can be attributed to several factors, including the global expansion of exoskeleton manufacturers, the integration with augmented reality (AR) and artificial intelligence (AI), regulatory support and standards, cost reductions leading to increased affordability, and the emergence of opportunities in rehabilitation and healthcare. Major trends expected during this period encompass increased adoption among aging populations, expanding applications in neurorehabilitation, diversification across various industrial sectors, advancements in human-machine interfaces, and the integration of AI and robotics technologies.
The anticipated increase in the number of spinal cord injuries is poised to drive the growth of the wearable robotic exoskeleton market in the forthcoming years. Spinal cord injuries (SCIs) entail damage or trauma to the spinal cord, a vital bundle of nerves traversing the vertebral column. Wearable robotic exoskeletons play a pivotal role in aiding individuals with spinal cord injuries by enhancing mobility and offering support for those with impaired motor functions. For example, as reported by the New Zealand Spinal Trust in October 2022, the incidence of spinal cord injuries (SCI) in New Zealand currently stands at 45 per million, reflecting a slight rise from 41 per million in 2021. Hence, the escalating number of spinal cord injuries serves as a key driver behind the growth of the wearable robotic exoskeleton market.
Key players in the wearable robotic exoskeleton market are prioritizing the integration of AI and machine learning into their developed products, such as AI-powered exoskeletons, to bolster their market position. An AI-powered exoskeleton refers to a wearable robotic device that incorporates artificial intelligence (AI) technology to enhance its functionality, responsiveness, and adaptability. For example, in December 2021, German Bionic, a Germany-based company specializing in smart exoskeletons and wearables, unveiled the fifth-generation Cray X. This latest iteration of the Cray X boasts significant enhancements, including an active walking aid, IP54 waterproofing, a more potent 40 V battery, and a redesigned energy management system. Moreover, features such as the onboarding assistant simplify the setup process, while the Smart Safety Companion - an AI-based ergonomic early warning system - enhances workplace safety and aids organizations in fulfilling their environmental, social, and governance (ESG) and sustainability objectives. The newest Cray X model expands the range of applications and introduces novel dimensions of human enhancement.
In December 2022, Ekso Bionics Holdings Inc., a US-based manufacturer of exoskeleton bionic devices, completed the acquisition of the Human Motion and Control (HMC) Business Unit and the Indego lower limb exoskeleton line of products from Parker Hannifin Corporation for $10 million. This strategic move expands Ekso's product portfolio across various healthcare sectors, including home and community use markets. Furthermore, it enhances Ekso's product pipeline and strengthens strategic partnerships with essential commercial and research collaborators, such as Vanderbilt University. Parker Hannifin Corporation, also based in the US, specializes in motion and control technologies.
Major companies operating in the wearable robotic exoskeleton market report are Lockheed Martin Corporation, Mitsubishi Heavy Industries Ltd., Parker Hannifin Corporation, Comau LLC, Fourier Intelligence, Genesis Robotics, Hocoma AG (DIH International Ltd.), Myomo Inc., Cyberdyne Inc., Sarcos Corporation, ATOUN Inc, Ekso Bionics Holdings Inc., Bioservo Technologies AB, Daiya Industry Co. Ltd., ReWalk Robotics Inc., Skelex AG, Focal Meditech BV, B-Temia Inc., Technaid S.L., GenElek Technologies, Rex Bionics PLC, Innervo Labs, Harmonic Bionics, Gogoa Mobility Robots, Bionik Laboratories Corp., P&S Mechanics Co. Ltd., Skeletonics.
North America was the largest region in the wearable robotic exoskeleton market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the wearable robotic exoskeleton market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the wearable robotic exoskeleton market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
A wearable robotic exoskeleton is a device worn by a person to augment, support, or enhance their mobility and physical capabilities. It aids individuals in tasks such as lifting heavy weights, improving physical endurance, or restoring movement for those with mobility impairments.
The two primary types of wearable robotic exoskeletons are passive and powered. A passive wearable robotic exoskeleton lacks powered motors or active assistance and instead relies on mechanical structures, springs, or other passive components to provide support and assistance to the user. These exoskeletons are further categorized by action technology into electric, hydraulic, fully mechanical, and others. They find applications in various fields including rehabilitation, assistive technologies, body part support, and sports, with end-users spanning healthcare, industry, defense, and commercial sectors.
The wearable robotic exoskeleton research report is one of a series of new reports that provides wearable robotic exoskeleton market statistics, including the wearable robotic exoskeleton industry's global market size, regional shares, competitors with an Wearable robotic exoskeleton market share, detailed wearable robotic exoskeleton market segments, market trends and opportunities, and any further data you may need to thrive in the wearable robotic exoskeleton industry. This wearable robotic exoskeleton market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The wearable robotic exoskeleton market consists of revenues earned by entities by providing services such as assistance with physical tasks, real-time monitoring, sports training and performance enhancement, customization and integration services, and training and support services. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The wearable robotic exoskeleton market also includes sales of power systems, actuators, sensors, inertial measurement units (IMU), and control systems. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
The wearable robotic exoskeleton market size is expected to see exponential growth in the next few years. It will grow to $7.12 billion in 2028 at a compound annual growth rate (CAGR) of 42.9%. The projected growth in the forecast period can be attributed to several factors, including the global expansion of exoskeleton manufacturers, the integration with augmented reality (AR) and artificial intelligence (AI), regulatory support and standards, cost reductions leading to increased affordability, and the emergence of opportunities in rehabilitation and healthcare. Major trends expected during this period encompass increased adoption among aging populations, expanding applications in neurorehabilitation, diversification across various industrial sectors, advancements in human-machine interfaces, and the integration of AI and robotics technologies.
The anticipated increase in the number of spinal cord injuries is poised to drive the growth of the wearable robotic exoskeleton market in the forthcoming years. Spinal cord injuries (SCIs) entail damage or trauma to the spinal cord, a vital bundle of nerves traversing the vertebral column. Wearable robotic exoskeletons play a pivotal role in aiding individuals with spinal cord injuries by enhancing mobility and offering support for those with impaired motor functions. For example, as reported by the New Zealand Spinal Trust in October 2022, the incidence of spinal cord injuries (SCI) in New Zealand currently stands at 45 per million, reflecting a slight rise from 41 per million in 2021. Hence, the escalating number of spinal cord injuries serves as a key driver behind the growth of the wearable robotic exoskeleton market.
Key players in the wearable robotic exoskeleton market are prioritizing the integration of AI and machine learning into their developed products, such as AI-powered exoskeletons, to bolster their market position. An AI-powered exoskeleton refers to a wearable robotic device that incorporates artificial intelligence (AI) technology to enhance its functionality, responsiveness, and adaptability. For example, in December 2021, German Bionic, a Germany-based company specializing in smart exoskeletons and wearables, unveiled the fifth-generation Cray X. This latest iteration of the Cray X boasts significant enhancements, including an active walking aid, IP54 waterproofing, a more potent 40 V battery, and a redesigned energy management system. Moreover, features such as the onboarding assistant simplify the setup process, while the Smart Safety Companion - an AI-based ergonomic early warning system - enhances workplace safety and aids organizations in fulfilling their environmental, social, and governance (ESG) and sustainability objectives. The newest Cray X model expands the range of applications and introduces novel dimensions of human enhancement.
In December 2022, Ekso Bionics Holdings Inc., a US-based manufacturer of exoskeleton bionic devices, completed the acquisition of the Human Motion and Control (HMC) Business Unit and the Indego lower limb exoskeleton line of products from Parker Hannifin Corporation for $10 million. This strategic move expands Ekso's product portfolio across various healthcare sectors, including home and community use markets. Furthermore, it enhances Ekso's product pipeline and strengthens strategic partnerships with essential commercial and research collaborators, such as Vanderbilt University. Parker Hannifin Corporation, also based in the US, specializes in motion and control technologies.
Major companies operating in the wearable robotic exoskeleton market report are Lockheed Martin Corporation, Mitsubishi Heavy Industries Ltd., Parker Hannifin Corporation, Comau LLC, Fourier Intelligence, Genesis Robotics, Hocoma AG (DIH International Ltd.), Myomo Inc., Cyberdyne Inc., Sarcos Corporation, ATOUN Inc, Ekso Bionics Holdings Inc., Bioservo Technologies AB, Daiya Industry Co. Ltd., ReWalk Robotics Inc., Skelex AG, Focal Meditech BV, B-Temia Inc., Technaid S.L., GenElek Technologies, Rex Bionics PLC, Innervo Labs, Harmonic Bionics, Gogoa Mobility Robots, Bionik Laboratories Corp., P&S Mechanics Co. Ltd., Skeletonics.
North America was the largest region in the wearable robotic exoskeleton market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the wearable robotic exoskeleton market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the wearable robotic exoskeleton market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
A wearable robotic exoskeleton is a device worn by a person to augment, support, or enhance their mobility and physical capabilities. It aids individuals in tasks such as lifting heavy weights, improving physical endurance, or restoring movement for those with mobility impairments.
The two primary types of wearable robotic exoskeletons are passive and powered. A passive wearable robotic exoskeleton lacks powered motors or active assistance and instead relies on mechanical structures, springs, or other passive components to provide support and assistance to the user. These exoskeletons are further categorized by action technology into electric, hydraulic, fully mechanical, and others. They find applications in various fields including rehabilitation, assistive technologies, body part support, and sports, with end-users spanning healthcare, industry, defense, and commercial sectors.
The wearable robotic exoskeleton research report is one of a series of new reports that provides wearable robotic exoskeleton market statistics, including the wearable robotic exoskeleton industry's global market size, regional shares, competitors with an Wearable robotic exoskeleton market share, detailed wearable robotic exoskeleton market segments, market trends and opportunities, and any further data you may need to thrive in the wearable robotic exoskeleton industry. This wearable robotic exoskeleton market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The wearable robotic exoskeleton market consists of revenues earned by entities by providing services such as assistance with physical tasks, real-time monitoring, sports training and performance enhancement, customization and integration services, and training and support services. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The wearable robotic exoskeleton market also includes sales of power systems, actuators, sensors, inertial measurement units (IMU), and control systems. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
Table of Contents
1. Executive Summary2. Wearable Robotic Exoskeleton Market Characteristics3. Wearable Robotic Exoskeleton Market Trends And Strategies32. Global Wearable Robotic Exoskeleton Market Competitive Benchmarking33. Global Wearable Robotic Exoskeleton Market Competitive Dashboard34. Key Mergers And Acquisitions In The Wearable Robotic Exoskeleton Market
4. Wearable Robotic Exoskeleton Market - Macro Economic Scenario
5. Global Wearable Robotic Exoskeleton Market Size and Growth
6. Wearable Robotic Exoskeleton Market Segmentation
7. Wearable Robotic Exoskeleton Market Regional And Country Analysis
8. Asia-Pacific Wearable Robotic Exoskeleton Market
9. China Wearable Robotic Exoskeleton Market
10. India Wearable Robotic Exoskeleton Market
11. Japan Wearable Robotic Exoskeleton Market
12. Australia Wearable Robotic Exoskeleton Market
13. Indonesia Wearable Robotic Exoskeleton Market
14. South Korea Wearable Robotic Exoskeleton Market
15. Western Europe Wearable Robotic Exoskeleton Market
16. UK Wearable Robotic Exoskeleton Market
17. Germany Wearable Robotic Exoskeleton Market
18. France Wearable Robotic Exoskeleton Market
19. Italy Wearable Robotic Exoskeleton Market
20. Spain Wearable Robotic Exoskeleton Market
21. Eastern Europe Wearable Robotic Exoskeleton Market
22. Russia Wearable Robotic Exoskeleton Market
23. North America Wearable Robotic Exoskeleton Market
24. USA Wearable Robotic Exoskeleton Market
25. Canada Wearable Robotic Exoskeleton Market
26. South America Wearable Robotic Exoskeleton Market
27. Brazil Wearable Robotic Exoskeleton Market
28. Middle East Wearable Robotic Exoskeleton Market
29. Africa Wearable Robotic Exoskeleton Market
30. Wearable Robotic Exoskeleton Market Competitive Landscape And Company Profiles
31. Wearable Robotic Exoskeleton Market Other Major And Innovative Companies
35. Wearable Robotic Exoskeleton Market Future Outlook and Potential Analysis
36. Appendix
Executive Summary
Wearable Robotic Exoskeleton Global Market Report 2024 provides strategists, marketers and senior management with the critical information they need to assess the market.This report focuses on wearable robotic exoskeleton market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
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Description
Where is the largest and fastest growing market for wearable robotic exoskeleton? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The wearable robotic exoskeleton market global report answers all these questions and many more.The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
- The forecasts are made after considering the major factors currently impacting the market. These include:
- The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
- The impact of higher inflation in many countries and the resulting spike in interest rates.
- The continued but declining impact of COVID-19 on supply chains and consumption patterns.
- Market segmentations break down the market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
Scope
Markets Covered:
1) By Type: Passive; Powered2) By Actuation Technology: Electric; Hydraulic; Fully Mechanical; Other Actuation Technology
3) By Application: Rehabilitation; Assistive; Body Parts Support; Sports
4) By End User: Healthcare; Industrial; Defense; Commercial
Key Companies Mentioned: Lockheed Martin Corporation; Mitsubishi Heavy Industries Ltd.; Parker Hannifin Corporation; Comau LLC; Fourier Intelligence
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita.
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery Format: PDF, Word and Excel Data Dashboard.
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Lockheed Martin Corporation
- Mitsubishi Heavy Industries Ltd.
- Parker Hannifin Corporation
- Comau LLC
- Fourier Intelligence
- Genesis Robotics
- Hocoma AG (DIH International Ltd.)
- Myomo Inc.
- Cyberdyne Inc.
- Sarcos Corporation
- ATOUN Inc
- Ekso Bionics Holdings Inc.
- Bioservo Technologies AB
- Daiya Industry Co. Ltd.
- ReWalk Robotics Inc.
- Skelex AG
- Focal Meditech BV
- B-Temia Inc.
- Technaid S.L.
- GenElek Technologies
- Rex Bionics PLC
- Innervo Labs
- Harmonic Bionics
- Gogoa Mobility Robots
- Bionik Laboratories Corp.
- P&S Mechanics Co. Ltd.
- Skeletonics
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 175 |
| Published | April 2024 |
| Forecast Period | 2024 - 2028 |
| Estimated Market Value ( USD | $ 1.71 Billion |
| Forecasted Market Value ( USD | $ 7.12 Billion |
| Compound Annual Growth Rate | 42.9% |
| Regions Covered | Global |
