Smart Exoskeleton Market Forecasts to 2028 – Global Analysis By Technology (Shape Memory Alloy Actuator, Hydraulic), Application (Pick & Carry, Rehabilitation), End User (Military, Healthcare) and By Geography
According to Stratistics MRC, the Global Smart Exoskeleton Market is accounted for $347.64 million in 2020 and is expected to reach $4,928.74 million by 2028 growing at a CAGR of 39.3% during the forecast period. High demand for use in clinical purposes and industrial body parts and increasing demand for use of smart exoskeletons in rehabilitation of people suffering from physical disabilities and neurological disorders are driving the market growth. However, high equipment cost and stringent government regulations for exoskeletons are hampering the growth of the market.
A smart exoskeleton is a powered system comprising sensors and actuators that use feedback from the wearer to provide enhanced assistance to specific body parts or the entire body while lowering energy expenditure. This exoskeleton makes use of smart algorithms, which automatically adjust to human body motions and further help in achieving optimal performance.
Based on the end user, the military segment is going to have lucrative growth during the forecast period as military organizations adopting these devices allow them to transfer load efficiently and these devices facilitate better performance while reducing soldier exertion. Smart exoskeletons that can be easily attached to the lower body are finding their application in military body parts. By geography, North America is going to have high growth during the forecast period owing to the increasing investments to develop smart, innovative, and energy-efficient exoskeleton, well-developed health care infrastructure and early availability of advanced technology products.
Some of the key players profiled in the Smart Exoskeleton Market include US Bionics, Inc., Technaid. S.L., Sarcos Corp., Rex Bionics Ltd., Honda Motor Co. Ltd., Ekso Bionics, CYBERDYNE, INC., BIONIK, ATOUN Inc. and ReWalk Robotics.
Estimated Market Size in 2020:
USD 347.64 million
Compound Annual Growth Rate (CAGR) from 2020 to 2028:
Predicted 2028 Value:
USD 4,928.74 million
Tables, Graphs& Figures
Component , Product, Technology, Extremity, Application, End User and Region
Core Drivers and Opportunities:
Restraining Factors & Market Threats:
• Ultra-Soft Exoskeleton
• Soft Smart Exoskeleton
• Rigid Smart Exoskeleton
• Shape Memory Alloy Actuator
• Pneumatic Actuator
• Electric Servo
• Fully Mechanical
• Electric Actuator
• Upper Extremity
• Lower Extremity
• Full Body Extremity
• Pick & Carry
End Users Covered:
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2019, 2020, 2021, 2025 and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Key Questions Answered In The Report
The Global Smart Exoskeleton Market is majorly driven by increasing demand for use of smart exoskeletons in rehabilitation of people suffering from physical disabilities and neurological disorders, high demand for use in clinical purposes and surge in initiatives for military body parts.
The military segment is growing at a highest CAGR owing to the high adoption o f smart exoskeleton in military organizations to transfer load efficiently and these devices facilitate better performance while reducing soldier exertion. Smart exoskeletons that can be easily attached to the lower body are finding their application in military body parts.
North America dominated with a significant market share due to the well-developed health care infrastructure, increasing investments to develop smart, innovative, and energy-efficient exoskeleton and early availability of advanced technology products.
Asia Pacific market is growing at a highest CAGR owing to the escalating prevalence of stroke and the growing disposable earnings, and availability of ministry expenditure for the large pool of sufferers is helping the market to grow in the region.
Key players in Smart Exoskeleton Market include US Bionics, Inc., Technaid. S.L., Sarcos Corp., Rex Bionics Ltd., Honda Motor Co. Ltd., Ekso Bionics, CYBERDYNE, INC., BIONIK, ATOUN Inc. and ReWalk Robotics.
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