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Smart Exoskeleton Market will reach USD 10.366 billion by 2032, at a CAGR of 8.20% during the forecast period 2023-2032.

Oct 11, 2023 8:00 PM ET

Smart Exoskeleton Market will reach USD 10.366 billion by 2032, at a CAGR of 8.20% during the forecast period 2023-2032.

The smart exoskeleton market was estimated at USD 5.1 billion in 2022. The market for smart exoskeletons is anticipated to increase from USD 5.51 billion in 2023 to USD 10.366 billion in 2032, with a compound annual growth rate (CAGR) of 8.20% over the forecast period (2023-2032). The two main factors boosting market expansion are the rising demand for medical supplies and industrial body parts.

an exoskeleton that has the ability to enhance movement, guard against accidents, and increase blood flow in persons with weak muscles. A smart exoskeleton might be useful for people with neurological and medical conditions. It can also be applied therapeutically to help patients recover and exercise successfully.

Key Companies in the smart exoskeleton market include

  • Ekso Bionics Holdings Inc. (US)
  • ReWalk Robotics (US)
  • Ottobock (Germany)
  • Lockheed Martin Corporation (US)
  • Parker Hannifin Corp. (US)
  • CYBERDYNE Inc. (Japan)
  • DIH Technologies Corporation (China)
  • Rex Bionics Ltd. (UK)
  • Hyundai Motor Company (South Korea)
  • US Bionics (US)
  • eu (Spain)
  • ATOUN Inc. (Japan)
  • RB3D (France)
  • BIONIK (Canada)
  • Honda Motor Co. Ltd (Japan)
  • Sarcos Corp. (US)
  • Technaid SL (Spain)
  • Hocoma (Switzerland)
  • Focal Meditech (Netherlands)
  • Wearable Robotics SRL (Italy)
  • B-TEMIA Inc. (Canada)

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The exoskeleton’s hip and knee joints are where the motors are mounted. The demand for intelligent exoskeletons to assist in the rehabilitation of people with physical and neurological disabilities is a major factor driving the global market.

As part of their everyday routine, soldiers frequently carry supplies while ascending stairs or slopes. Additionally, soldiers frequently suffer with strength and endurance and are vulnerable to injuries to the hip, back, and knee. Because of this, military organisations all over the world are utilising smart exoskeleton technology to transport payloads more successfully. With little effort, these abilities can aid warriors in performing better. The market for smart exoskeletons is predicted to increase favourably as a result of the rising rate of falls and rising senior population brought on by instability and physical decline.

The gadget also promotes normal blood circulation for people with weak muscles and assists the elderly in maintaining bodily tension.

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According to type, the Smart Exoskeleton Market is segmented into ultra-soft, soft, and rigid exoskeletons. The market was controlled by the sector of ultra-soft exoskeletons.

Hardware and software are included in the segmentation of the smart exoskeleton market based on components. The category of hardware brought in the most money.

Upper limbs, lower limbs, and the entire body make up the application-based segmentation of the smart exoskeleton market. The category for whole bodies brought in the highest money.

Industrial, healthcare, military, and other verticals are included in the segmentation of the smart exoskeleton market. The largest money was made in the healthcare area.

The analysis offers market information for North America, Europe, Asia-Pacific, and the rest of the world, organised by region. Due to its performance, the smart exoskeleton market in North America will dominate this industry. The region’s rising disability rate and funding from private healthcare-related businesses and government research organisations are two key drivers of industry growth. In addition, a recent study indicated that nearly 61 million Americans with disabilities—13.7% of whom—have mobility problems. The current global expansion of the smart exoskeletons market has been affected by the growing collaboration of important companies in the medical device industry.

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