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Global Smart Exoskeleton Market - Industry Trends and Forecast to 2029

Semiconductors and Electronics

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Global Smart Exoskeleton Market - Industry Trends and Forecast to 2029

  • Semiconductors and Electronics
  • Upcoming Report
  • Jun 2022
  • Global
  • 350 Pages
  • No of Tables: 220
  • No of Figures: 60

Global Smart Exoskeleton Market - Industry Trends and Forecast to 2029

Market Size in USD Billion

CAGR :  % Diagram

Diagram Forecast Period 2021–2029
Diagram Market Size (Base Year) USD 13,426.16 USD Million
Diagram Market Size (Forecast Year) USD 20,490.30 USD Million
Diagram CAGR %

Major Markets Players

  • Esco Bionics
  • EXHAUSS
  • SUIT X
  • Hocoma
  • Rex Bionics Ltd

Global Smart Exoskeleton Market, By Component (Sensors, Actuators, Power Source, Control System, Others), Type (Soft Exoskeleton and Rigid Exoskeleton), Body Part (Upper Body, Lower Body, Full Body), Application (Industrial, Healthcare, Military, Others) – Industry Trends and Forecast to 2029

Smart Exoskeleton Market

Market Analysis and Size

Smart exoskeleton are being equipped with various types of sensors and electric cable connections in order to control the exoskeleton components. The technology makes use of algorithms to detect motion anomalies in real-time environments that assists in preventing injuries.

Global Smart Exoskeleton Market was valued at USD 13,426.16 million in 2021 and is expected to reach USD 216,264.56 million by 2029, registering a CAGR of 13.40% during the forecast period of 2022-2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.

Market Definition

Smart exoskeleton refers to a powered wearable suit that is specifically designed for enhancing user safety. They also improve human efficiency to do the respective tasks. The technology uses smart algorithms that are known to automatically adjust to human body motions.

Report Scope and Market Segmentation

Report Metric

Details

Forecast Period

2022 to 2029

Base Year

2021

Historic Years

2020 (Customizable to 2014 - 2019)

Quantitative Units

Revenue in USD Million, Volumes in Units, Pricing in USD

Segments Covered

Component (Sensors, Actuators, Power Source, Control System, Others), Type (Soft Exoskeleton and Rigid Exoskeleton), Body Part (Upper Body, Lower Body, Full Body), Application (Industrial, Healthcare, Military, Others)

Countries Covered

U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA).

Market Players Covered

Esco Bionics (US), EXHAUSS (Canada), SUIT X (US), Hocoma (Switzerland), Rex Bionics Ltd (New Zealand), ReWalk Robotics (Israel), RB3D (France), Raytheon Company (US), PARKER HANNIFIN CORP (US), ottobock (Germany), Fourier Intelligence Co., Ltd (China), DIH Technologies Corporation (US), B-Temia (Canada), Focal Meditech BV (Netherlands), and Cyberdyne, Inc. (Japan), among others

Market Opportunities

  • Research activities for development of more applications
  • Emergence of lightweight, and power-effective exoskeletons crosswise
  • Increase in the number of target population across the globe

Smart Exoskeleton Market Dynamics

This section deals with understanding the market drivers, opportunities, restraints and challenges. All of this is discussed in detail as below:

Drivers

  • Application of Smart Exoskeleton

The expansion in the requirement for the application of smart exoskeleton in the restoration of individuals undergoing bodily inabilities and neurological dysfunctions is the influential determinant stimulating the germination of the smart exoskeleton industry. Furthermore, it facilitates the aged people to step with comfort and limit fall-related damages.

  • Increase in Target Population

The increase in the number of target population across the globe accelerate the smart exoskeleton market. The rise in number of accidents causing disabilities have a positive impact on the market. The surge in geriatric population further influence the market as the elderly population are more prone to chronic diseases.

  • Use of Wearable Exoskeleton

The rise in the use of wearable exoskeleton to support the motor function for people with severe mobility impairments further influence the market. The rise in the prevalence of chronic diseases, such as cancer, heart disease, stroke, diabetes, and arthritis assist in the expansion of the market.

Additionally, rapid industrialization, surge in investments and development of manufacturing sectors positively affect the smart exoskeleton market.

Opportunities

Furthermore, rise in the research activities for development of more applications extends profitable opportunities to the market players in the forecast period of 2022 to 2029. Also, emergence of lightweight, and power-effective exoskeletons crosswise will further assist in the expansion of the market.

Restraints/Challenges

On the other hand, high costs associated with the designing and manufacturing of the smart exoskeleton are expected to obstruct market growth. Also, strict regulations and norms imposed by the governmental agencies are projected to challenge the smart exoskeleton market in the forecast period of 2022-2029.

This smart exoskeleton market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on smart exoskeleton market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on Smart Exoskeleton Market

COVID-19 has a major impact on the smart exoskeleton market. The factories in several countries witnessed shut downs in the initial stages of the pandemic as the governments implemented strict lockdowns in order to prevent the spread of the virus. In the post-pandemic, the lockdowns are being lifted and restrictions are being eased. Numerous companies were allowed to resume factory operations but at a limited capacity that use active sensor after the pandemic. The smart exoskeleton market is expected to gain its pace in the post-pandemic scenario owing to the easing on the restrictions.

Global Smart Exoskeleton Market Scope and Market Size

The smart exoskeleton market is segmented on the basis of component, type, body part, and application. The growth amongst these segments will help you analyze meager growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Component

  • Sensors
  • Actuators
  • Power Source
  • Control System
  • Others

Type

  • Soft Exoskeleton
  • Rigid Exoskeleton

Body Part

  • Upper Body
  • Lower Body
  • Full Body

Application

  • Industrial
  • Healthcare
  • Military
  • Others

Smart Exoskeleton Market Regional Analysis/Insights

The smart exoskeleton market is analyzed and market size insights and trends are provided by country, component, type, body part, and application as referenced above.

The countries covered in the smart exoskeleton market report are U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA).

North America dominates the smart exoskeleton market because of the growing disabilities in the region and higher investments by the private organizations and government agencies within the region.

Asia-Pacific is expected to witness significant growth during the forecast period of 2022 to 2029 because of the increase in the geriatric population in the region requiring the exoskeleton for rehabilitation in the region.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Smart Exoskeleton Market

The smart exoskeleton market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to smart exoskeleton market.

Some of the major players operating in the smart exoskeleton market are

  • Esco Bionics (US)
  • EXHAUSS (Canada)
  • SUIT X (US)
  • Hocoma (Switzerland)
  • Rex Bionics Ltd (New Zealand)
  • ReWalk Robotics (Israel)
  • RB3D (France)
  • Raytheon Company (US)
  • PARKER HANNIFIN CORP (US)
  • ottobock (Germany)
  • Fourier Intelligence Co., Ltd (China)
  • DIH Technologies Corporation (US)
  • B-Temia (Canada)
  • Focal Meditech BV (Netherlands)

Cyberdyne, Inc. (Japan)

 


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Research Methodology:

Data collection and base year analysis are done using data collection modules with large sample sizes. The stage includes obtaining market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past in advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analysed and estimated using market statistical and coherent models. Also, market share analysis and key trend analysis are the major success factors in the market report. To know more, please request an analyst call or drop down your inquiry.

The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market and primary (industry expert) validation. Data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Patent Analysis, Pricing Analysis, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.

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FREQUENTLY ASK QUESTIONS

The Smart Exoskeleton Market is projected to grow at a CAGR of 13.40% during the forecast period by 2029.
The Smart Exoskeleton Market value is expected USD 216,264.56 million by 2029.
On the basis of application, the Smart Exoskeleton Market is segmented into Industrial, Healthcare, Military, Others.
The major players operating in the Smart Exoskeleton Market are Esco Bionics (US), EXHAUSS (Canada), SUIT X (US), Hocoma (Switzerland), Rex Bionics Ltd (New Zealand), ReWalk Robotics (Israel), RB3D (France), Raytheon Company (US), PARKER HANNIFIN CORP (US), ottobock (Germany), Fourier Intelligence Co., Ltd (China), DIH Technologies Corporation (US), B-Temia (Canada), Focal Meditech BV (Netherlands), and Cyberdyne, Inc. (Japan), among others.
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