Smart Exoskeleton Market
PUBLISHED: 2021 ID: SMRC20751
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Smart Exoskeleton Market

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

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4.4 (62 reviews)
Published: 2021 ID: SMRC20751

This report covers the impact of COVID-19 on this global market
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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.

Report Coverage

Details

Published Year:

2021

Estimated Market Size in 2020:

USD 347.64 million

Estimated Period:

2020

Compound Annual Growth Rate (CAGR) from 2020 to 2028:

39.3%

Predicted 2028 Value:

USD 4,928.74 million

Forecast Years:

2021-2028

Tables, Graphs& Figures

199

Chapters Covered:

Component , Product, Technology, Extremity, Application, End User and Region

Core Drivers and Opportunities:

  • Increasing demand for use of smart exoskeletons in rehabilitation of people suffering from physical disabilities
  • High demand for use in clinical purposes
  • Surge in initiatives for military body parts

Restraining Factors & Market Threats:

  • Stringent government regulations for exoskeletons
  • High equipment cost


Components Covered:
• Software
• Hardware

Products Covered:
• Ultra-Soft Exoskeleton
• Soft Smart Exoskeleton
• Rigid Smart Exoskeleton   

Technologies Covered:
• Shape Memory Alloy Actuator
• Pneumatic Actuator
• Electric Servo
• Hydraulic
• Fully Mechanical
• Electric Actuator  

Extremities Covered:
• Upper Extremity
• Lower Extremity
• Full Body Extremity

Applications Covered:
• Pick & Carry
• Rehabilitation 

End Users Covered:
• Residential
• Military
• Industrial
• Healthcare
• Commercial

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan       
o China       
o India       
o Australia 
o New Zealand
o South Korea
o Rest of Asia Pacific   
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
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.

Table of Contents

1 Executive Summary              
               
2 Preface   
           
 2.1 Abstract             
 2.2 Stake Holders            
 2.3 Research Scope            
 2.4 Research Methodology           
  2.4.1 Data Mining           
  2.4.2 Data Analysis           
  2.4.3 Data Validation           
  2.4.4 Research Approach           
 2.5 Research Sources            
  2.5.1 Primary Research Sources          
  2.5.2 Secondary Research Sources          
  2.5.3 Assumptions           
               
3 Market Trend Analysis            
 3.1 Introduction            
 3.2 Drivers             
 3.3 Restraints            
 3.4 Opportunities            
 3.5 Threats             
 3.6 Product Analysis            
 3.7 Technology Analysis           
 3.8 Application Analysis           
 3.9 End User Analysis            
 3.10 Emerging Markets            
 3.11 Impact of Covid-19            
               
4 Porters Five Force Analysis            
 4.1 Bargaining power of suppliers           
 4.2 Bargaining power of buyers           
 4.3 Threat of substitutes           
 4.4 Threat of new entrants           
 4.5 Competitive rivalry            
               
5 Global Smart Exoskeleton Market, By Component          
 5.1 Introduction            
 5.2 Software             
 5.3 Hardware             
  5.3.1 Sensors            
  5.3.2 Power Source           
  5.3.3 Control System           
  5.3.4 Actuators            
               
6 Global Smart Exoskeleton Market, By Product          
 6.1 Introduction            
 6.2 Ultra-Soft Exoskeleton           
 6.3 Soft Smart Exoskeleton           
 6.4 Rigid Smart Exoskeleton           
               
7 Global Smart Exoskeleton Market, By Technology          
 7.1 Introduction            
 7.2 Shape Memory Alloy Actuator           
 7.3 Pneumatic Actuator            
 7.4 Electric Servo            
 7.5 Hydraulic             
 7.6 Fully Mechanical            
 7.7 Electric Actuator            
               
8 Global Smart Exoskeleton Market, By Extremity          
 8.1 Introduction            
 8.2 Upper Extremity            
 8.3 Lower Extremity            
 8.4 Full Body Extremity            
               
9 Global Smart Exoskeleton Market, By Application          
 9.1 Introduction            
 9.2 Pick & Carry            
 9.3 Rehabilitation            
               
10 Global Smart Exoskeleton Market, By End User          
 10.1 Introduction            
 10.2 Residential            
 10.3 Military             
 10.4 Industrial             
 10.5 Healthcare            
 10.6 Commercial            
               
11 Global Smart Exoskeleton Market, By Geography          
 11.1 Introduction            
 11.2 North America            
  11.2.1 US             
  11.2.2 Canada            
  11.2.3 Mexico            
 11.3 Europe             
  11.3.1 Germany            
  11.3.2 UK            
  11.3.3 Italy            
  11.3.4 France            
  11.3.5 Spain            
  11.3.6 Rest of Europe            
 11.4 Asia Pacific            
  11.4.1 Japan            
  11.4.2 China            
  11.4.3 India            
  11.4.4 Australia            
  11.4.5 New Zealand           
  11.4.6 South Korea           
  11.4.7 Rest of Asia Pacific            
 11.5 South America            
  11.5.1 Argentina           
  11.5.2 Brazil            
  11.5.3 Chile            
  11.5.4 Rest of South America          
 11.6 Middle East & Africa           
  11.6.1 Saudi Arabia           
  11.6.2 UAE             
  11.6.3 Qatar            
  11.6.4 South Africa           
  11.6.5 Rest of Middle East & Africa          
               
12 Key Developments             
 12.1 Agreements, Partnerships, Collaborations and Joint Ventures        
 12.2 Acquisitions & Mergers           
 12.3 New Product Launch           
 12.4 Expansions            
 12.5 Other Key Strategies           
               
13 Company Profiling             
 13.1 US Bionics, Inc.            
 13.2 Technaid. S.L.             
 13.3 Sarcos Corp.            
 13.4 Rex Bionics Ltd.            
 13.5 Honda Motor Co. Ltd.           
 13.6 Ekso Bionics            
 13.7 CYBERDYNE, INC.            
 13.8 BIONIK             
 13.9 ATOUN Inc.            
 13.10 ReWalk Robotics            


List of Tables              
1 Global Smart Exoskeleton Market Outlook, By Region (2019-2028) ($MN)        
2 Global Smart Exoskeleton Market Outlook, By Component (2019-2028) ($MN)       
3 Global Smart Exoskeleton Market Outlook, By Software (2019-2028) ($MN)       
4 Global Smart Exoskeleton Market Outlook, By Hardware (2019-2028) ($MN)       
5 Global Smart Exoskeleton Market Outlook, By Sensors (2019-2028) ($MN)       
6 Global Smart Exoskeleton Market Outlook, By Power Source (2019-2028) ($MN)       
7 Global Smart Exoskeleton Market Outlook, By Control System (2019-2028) ($MN)       
8 Global Smart Exoskeleton Market Outlook, By Actuators (2019-2028) ($MN)       
9 Global Smart Exoskeleton Market Outlook, By Product (2019-2028) ($MN)       
10 Global Smart Exoskeleton Market Outlook, By Ultra-Soft Exoskeleton (2019-2028) ($MN)      
11 Global Smart Exoskeleton Market Outlook, By Soft Smart Exoskeleton (2019-2028) ($MN)      
12 Global Smart Exoskeleton Market Outlook, By Rigid Smart Exoskeleton (2019-2028) ($MN)      
13 Global Smart Exoskeleton Market Outlook, By Technology (2019-2028) ($MN)       
14 Global Smart Exoskeleton Market Outlook, By Shape Memory Alloy Actuator (2019-2028) ($MN)     
15 Global Smart Exoskeleton Market Outlook, By Pneumatic Actuator (2019-2028) ($MN)      
16 Global Smart Exoskeleton Market Outlook, By Electric Servo (2019-2028) ($MN)       
17 Global Smart Exoskeleton Market Outlook, By Hydraulic (2019-2028) ($MN)       
18 Global Smart Exoskeleton Market Outlook, By Fully Mechanical (2019-2028) ($MN)       
19 Global Smart Exoskeleton Market Outlook, By Electric Actuator (2019-2028) ($MN)       
20 Global Smart Exoskeleton Market Outlook, By Extremity (2019-2028) ($MN)        
21 Global Smart Exoskeleton Market Outlook, By Upper Extremity (2019-2028) ($MN)       
22 Global Smart Exoskeleton Market Outlook, By Lower Extremity (2019-2028) ($MN)       
23 Global Smart Exoskeleton Market Outlook, By Full Body Extremity (2019-2028) ($MN)      
24 Global Smart Exoskeleton Market Outlook, By Application (2019-2028) ($MN)       
25 Global Smart Exoskeleton Market Outlook, By Pick & Carry (2019-2028) ($MN)       
26 Global Smart Exoskeleton Market Outlook, By Rehabilitation (2019-2028) ($MN)       
27 Global Smart Exoskeleton Market Outlook, By End User (2019-2028) ($MN)       
28 Global Smart Exoskeleton Market Outlook, By Residential (2019-2028) ($MN)       
29 Global Smart Exoskeleton Market Outlook, By Military (2019-2028) ($MN)       
30 Global Smart Exoskeleton Market Outlook, By Industrial (2019-2028) ($MN)       
31 Global Smart Exoskeleton Market Outlook, By Healthcare (2019-2028) ($MN)       
32 Global Smart Exoskeleton Market Outlook, By Commercial (2019-2028) ($MN)       
               
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above. 

List of Figures

RESEARCH METHODOLOGY


Research Methodology

We at Stratistics opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.

Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.

Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.

Data Mining

The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.

Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.

Data Analysis

From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:

  • Product Lifecycle Analysis
  • Competitor analysis
  • Risk analysis
  • Porters Analysis
  • PESTEL Analysis
  • SWOT Analysis

The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.


Data Validation

The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.

We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.

The data validation involves the primary research from the industry experts belonging to:

  • Leading Companies
  • Suppliers & Distributors
  • Manufacturers
  • Consumers
  • Industry/Strategic Consultants

Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.


For more details about research methodology, kindly write to us at info@strategymrc.com

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