Global Soft Exoskeleton By Product Type (Full Body, Upper Body and Lower Body), Application (Industrial, Military, Healthcare and Sports), Mobility (Stationary and Mobile), Country (U.S., Canada, Mexico, 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, Brazil, Argentina, Rest of South America, South Africa, Saudi Arabia, UAE, Egypt, Israel, Rest of Middle East & Africa) Industry Trends and Forecast to 2028
Data Bridge Market Research analyses that the soft exoskeleton market will exhibit a CAGR of around 20.6% for the forecast period of 2021-2028. Growing focus of the manufacturers on technological advancements and innovations, increasing application of full body soft exoskeleton in industrial processes, and rising application of soft exoskeleton for a wide range of applications such as industrial, military, healthcare, sports, mining, construction, manufacturing and others are the major factors attributable to the growth of soft exoskeleton market. Therefore, in terms of market value, the soft exoskeleton would rocket up to USD 2.91 million by 2028.
The soft exoskeleton is a wearable device which is designed with lightweight material. Soft exoskeleton is a wearable robotic design that uses pneumatics or cable transmission. Soft exoskeleton assists in walking by providing a support to hip joints and ankles. Also referred to as robotic suit, exo-frame, or exosuit, soft exoskeleton is used as haptic controller, assistive device, and capabilities amplifier. Soft exoskeleton is a result of limitations of traditional industrial robots.
Increasing demand for robotic rehabilitation by the healthcare sector coupled with increased expenditure in the development of healthcare infrastructure, especially in the developing economies, is one of the major factors fostering the growth of soft exoskeleton market. Rising focus on the technological advancements in the field of robotic technologies coupled with induced investments for research and development proficiencies in robotics by the major players are some other indirect soft exoskeleton market growth determinants. Growing awareness by regulatory approval for industrial usage of exoskeletons will further generate lucrative soft exoskeleton market growth opportunities. Upsurge in the demand for soft exoskeleton for construction and automotive applications coupled with growth and expansion of various end user verticals will also carve the way for the growth of market.
However, high costs associated with initial investment and maintenance will act as soft exoskeleton market growth restraint. Stringent regulations imposed on the approval of soft exoskeleton for medical applications will further derail the market growth rate. Lack of skilled expertise or trained personnel will further pose challenges for the soft exoskeleton market growth.
This soft 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 localised 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 soft 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.
Global Soft Exoskeleton Market Scope and Market Size
The soft exoskeleton market is segmented on the basis of product type, application, and mobility. The growth amongst these segments will help you analyse meagre growth segments in the industries, and provide the users with valuable market overview and market insights to help them in making strategic decisions for identification of core market applications.
- On the basis of product type, the soft exoskeleton market is segmented into full body, upper body, and lower body.
- On the basis of application, the soft exoskeleton market is segmented into industrial, military, healthcare and sports. Industrial segment is sub-segmented into mining, construction, manufacturing and others.
- On the basis of mobility, the soft exoskeleton market is segmented into stationary and mobile.
Soft Exoskeleton Market Country Level Analysis
The soft exoskeleton market is analysed and market size insights and trends are provided by country, product type, application, and mobility as referenced above.
The countries covered in the soft exoskeleton market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America region dominates the market and will continue to flourish its trend of dominance during the forecast period. Prevalence of advanced healthcare technologies, presence of large number of private and public organizations and increased expenditure for research and development proficiencies in the field of robotics are the major factors fostering the market growth rate in this region. Asia-Pacific, on the other hand, is projected to score the highest CAGR for the forecast period owing to the rising economic growth and fast industrialization. Increased application by the various end user verticals in the regions is carving the way for market growth.
The country section of the soft exoskeleton market 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 such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major 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 Soft Exoskeleton Market Share Analysis
The soft 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 soft exoskeleton market.
The major players covered in the soft exoskeleton market report are Knots Plus Ltd., ATOUN Inc., Ekso Bionics Holdings Inc., Panasonic Corporation, CYBERDYNE INC., ReWalk Robotics, Rex Bionics Ltd., Lockheed Martin Corporation, U.S Bionics, Inc., RB3D, Hocoma, B-Temia., DIH Medical, Wearable Robotics srl, OTTOBOCK, suitx, Gogoa.eu, Technaid, Honda Motor Co., Ltd., Myomo Inc. and BIONIK among other domestic and global players. Market share data is available for Global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Customization Available : Global Soft Exoskeleton Market
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