Exoskeleton

• The exoskeleton market is valued at US$ 392 million in 2020 and will grow to US$ 6.8 billion in global revenue in 2030.
• In 2018 more than 7,000 units were sold in manufacturing, but the potential market need would be 60,000 units for all types of exoskeleton, with an estimated growth rate of more than 50% from 2019 to 2024.
• The clearance for Exosuit Restore will boost the global exoskeleton market in the coming years and is likely to favor growth of the market in the coming years.
• A PwC report into the global robotics and artificial intelligence markets indicated that the personal robot market could reach US$17.4bn by 2020.
• Military body armor and personal protection market is expected to be led by North America with a share of 34.9% over the forecast period.
• The emergence of soft actuators and its rising demand across various parts of the world is giving rise to growth opportunities in the smart exoskeleton market.
• Industry analysts forecast the global robotic exoskeleton Market to grow at a CAGR of 30.38% during the period 2018-2022.
• The latest market research report by Technavio on the global robotic exoskeleton market predicts a CAGR of over 30% during the period 2018-2022.
• A report by Transparency Market Research predicts the global military exoskeleton market to register a robust 14.4% CAGR during the period between 2017 and 2025.
• Technavio's analysts forecast the global military exoskeleton market to grow at a CAGR of 65.19% during the period 2017-2021.
• Exoskeletons could see wider adoption and could compete with motorized wheelchairs.
• Some designers envision senior citizens in civilian life using exoskeletons.
• The global medical exoskeleton market accounted to US$ 96.7 Mn in 2018 and is expected to grow at a CAGR of 29.4% during the forecast period 2019-2027, to account to US$ 1,023.0 Mn by 2027.
• The global exoskeleton market size is anticipated to reach USD 4.2 billion by 2027, expanding at a CAGR of 26.3% over the forecast period.
• Global Exoskeleton Market is expected to reach USD 8,300.00 Million by 2025 from USD 528.30 Million in 2017, at a CAGR of 41.2% in the forecast period 2018 to 2025.
• Medical exoskeleton market is expected to account to USD 1,906.05 million by 2027 expanding at a rate of 35.15% in the forecast period of 2020 to 2027.
• The Exoskeleton Market is expected to exceed more than US$2.5 Billion by 2024 at a CAGR of 24% in the given forecast period.
• Global exoskeleton revenues will reach $5.8 billion by 2028, driven by the deployment and adoption of passive exoskeletons that help augment capabilities of human workers.
• ABI Research stated that the total addressable market for industrial exoskeletons exceeds 2.6 million units and that shipments will grow from 7,000 units in 2018 to 301,000 by 2028, with revenue of $5.8 billion by 2028.
• Lower extremity medical exoskeletons are expected to dominate the market in 2018.
• The medical exoskeleton market is segmented by type into powered and passive exoskeletons: In 2018, the powered exoskeleton segment is expected to dominate the market.
• In 2018, North America is expected to dominate the exoskeleton market.

Last updated: 22 November 2020