Exoskeleton Market by Component (Hardware), Software), Type (Powered, Passive), Body Part (Full Body, Lower & Upper Extremities), Mobility (Stationary, Mobile), Structure (Rigid, Soft), Vertical and RegionGlobal Forecast to 2028
The global exoskeleton market size is expected to grow from USD 0.7 billion in 2023 to USD 3.7 billion by 2028, at a CAGR of 38.6%.
Software segment is estimated to register the highest growth rate during the forecast period
The Software used in an exoskeleton is basically a set of coded commands and a list of instructions to program robots according to the task required to be performed by them. At present, a number of software packages suited to ergonomic simulation are available in the market.
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In response to the limitations of traditional design tools, software providers now offer a number of 3D CAD software packages for exoskeletons. These digital human modeling
(DHM) software tools enable models of humans to interact with virtual products and workplaces in a CAD environment. Developers have boosted modeling and simulation capabilities, enabling designers to develop exoskeletons with better cost efficiency for broader adoption.
Passive segment to hold second-largest CAGR in the coming years
Passive exoskeletons, in comparison to powered exoskeletons, have simpler structures, lower production costs, and require no electric power. These exoskeletons utilize a wearers strength and save energy of the wearer when in motion. Passive exoskeletons support the upper limbs of the patient as they reduce the gravitational load and offer the user the chance to perform the necessary rehabilitation tasks. These exoskeletons are widely used for ergonomic support in order to prevent users from repetitive stress injuries and help them hold equipment and tools.
Europe to account for the second-largest market share during the forecast period
Europe is expected to be the second leading region in the exoskeleton market during the forecast period. In Europe, Exoskeletons have shown a disruptive effect on the competitiveness of non-manufacturing industries such as logistics, healthcare, and education. These non-manufacturing industries are adopting exoskeleton systems at large for rehabilitation, pick and carry, and other applications.
Major companies operating in this exoskeleton market include CYBERDYNE INC. (Japan), Lockheed Martin Corporation (US), Ottobock (Germany), Ekso Bionics (US), DIH Medical (China), Sarcos Technology and Robotics Corporation (US), BIONIK (US), and B-Temia (Canada). The study includes an in-depth competitive analysis of these key players in the exoskeleton market with their company profiles, recent developments, and key market strategies. know more Information @
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