Soft Exoskeleton Market Introduction 

Soft exoskeletons are wearable devices that are designed to assist or augment the movement of the human body. They are made of soft and flexible materials, such as textiles, polymers, and elastomers, and are designed to be comfortable and non-intrusive to the wearer. Soft exoskeletons can be used in a variety of applications, such as rehabilitation, physical therapy, sports, and industrial settings.

Soft exoskeletons are often contrasted with traditional rigid exoskeletons, which are made of hard materials such as metal and plastic. While rigid exoskeletons are often used for heavy lifting or as full-body suits for military applications, soft exoskeletons are designed to provide more natural and flexible movements.

Soft exoskeletons can be categorized into two main types: powered and unpowered. Powered exoskeletons use electric motors or pneumatic systems to assist the wearer's movements, while unpowered exoskeletons use mechanical or elastic elements to store and release energy, providing support and assistance without the need for external power.

The soft exoskeleton market is growing rapidly, driven by factors such as increasing demand for rehabilitation and physical therapy, the need for better workplace safety and ergonomics, and rising interest in wearable technologies. The market is expected to see significant growth in the coming years, with a wide range of companies and startups developing new products and technologies to meet the evolving needs of consumers and industries.

Soft Exoskeleton Market Size

The market was projected to grow at a significant rate over the forecast period of 2021-2026, driven by factors such as increasing demand for rehabilitation and physical therapy, the need for better workplace safety and ergonomics, and rising interest in wearable technologies. The market was expected to witness a CAGR of around 37% during the forecast period, with a potential to reach a market size of around $2.2 billion by 2026.

The market was segmented by component, type, application, and region. Based on type, powered exoskeletons were expected to dominate the market, owing to their ability to provide more substantial assistance to the wearer's movements. By application, the healthcare and industrial segments were expected to be the largest market segments, driven by the growing need for rehabilitation and physical therapy, and the demand for better workplace safety and ergonomics.

Soft Exoskeleton Market Share

Some of the leading players in the market included:

ReWalk Robotics

Bionik Laboratories Corp.

Ekso Bionics Holdings, Inc.

CYBERDYNE, Inc.

Parker Hannifin Corporation

Hocoma AG

GOGOA Mobility Robots, S.L.

SuitX

Innophys Co., Ltd.

Fourier Intelligence

These companies were among the leading players in the market, with a significant market share and a strong presence in key geographic regions. However, due to the highly competitive nature of the market and the presence of a large number of small players, the market share of individual companies was relatively small.In terms of application, the healthcare and industrial segments were expected to be the largest market segments, accounting for a significant share of the overall market. Within the healthcare segment, soft exoskeletons were primarily used for rehabilitation and physical therapy purposes, while in the industrial segment, they were used for workplace safety and ergonomics.It's important to note that the market share of individual companies and segments may have changed since my knowledge cutoff date, and there may be updated market data available.

Soft Exoskeleton Market Trends

Some of the key trends shaping the soft exoskeleton market included:

Advancements in technology: Soft exoskeleton technology was rapidly evolving, with companies and startups developing new products and technologies that were more comfortable, lightweight, and effective. Advancements in areas such as sensors, control systems, and power sources were driving innovation and improving the performance of soft exoskeletons.

Growing demand in healthcare: Soft exoskeletons were gaining popularity in the healthcare industry, particularly for rehabilitation and physical therapy purposes. They were being used to assist patients with movement and to help them regain mobility and independence.

Increasing adoption in industrial settings: Soft exoskeletons were also being adopted in industrial settings, where they were being used to improve workplace safety and ergonomics. Soft exoskeletons were being designed to reduce the risk of injury and fatigue in workers, particularly in industries such as manufacturing, construction, and logistics.

Rising interest in sports and personal use: Soft exoskeletons were also gaining popularity among athletes and individuals looking to improve their physical performance or overcome physical limitations. Soft exoskeletons were being designed for use in sports and fitness, as well as for personal use in everyday activities.

Emphasis on user comfort and design: Soft exoskeletons were being designed with a strong emphasis on user comfort and aesthetics. Companies were focusing on creating products that were comfortable, non-intrusive, and easy to use, as well as products that looked and felt modern and appealing to consumers.

Soft Exoskeleton Market Driving factors

Some of the key driving factors for the soft exoskeleton market included:

Increasing demand for rehabilitation and physical therapy: The demand for soft exoskeletons was being driven by the growing number of people in need of rehabilitation and physical therapy, particularly due to age-related conditions and disabilities. Soft exoskeletons were being used to assist patients with movement and to help them regain mobility and independence.

Need for better workplace safety and ergonomics: Soft exoskeletons were being increasingly adopted in industrial settings, where they were being used to improve workplace safety and ergonomics. Soft exoskeletons were being designed to reduce the risk of injury and fatigue in workers, particularly in industries such as manufacturing, construction, and logistics.

Advancements in technology: Advancements in soft exoskeleton technology were driving innovation and improving the performance of soft exoskeletons. Companies and startups were developing new products and technologies that were more comfortable, lightweight, and effective, and which incorporated sensors, control systems, and power sources to improve their functionality.

Rising interest in sports and personal use: Soft exoskeletons were gaining popularity among athletes and individuals looking to improve their physical performance or overcome physical limitations. Soft exoskeletons were being designed for use in sports and fitness, as well as for personal use in everyday activities.

Increasing investment in research and development: Investment in research and development was increasing, as companies and startups sought to develop new and innovative soft exoskeleton technologies. Government funding and grants were also being made available to support the development of soft exoskeleton technology.

Soft Exoskeleton Market Regional Analysis

The soft exoskeleton market was segmented into various regions, including North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa.

North America was the largest market for soft exoskeletons, due to the presence of a large number of key players in the region and the high demand for soft exoskeletons in the healthcare and industrial segments. The region was expected to continue to dominate the market during the forecast period, driven by factors such as advancements in technology, increasing adoption of soft exoskeletons in industrial settings, and rising investment in research and development.Europe was also a significant market for soft exoskeletons, with the presence of a large number of players in the region and the growing demand for soft exoskeletons in healthcare and industrial applications. The region was expected to see steady growth during the forecast period, driven by factors such as the increasing adoption of soft exoskeletons in rehabilitation and physical therapy, and the need for better workplace safety and ergonomics.The Asia-Pacific region was expected to see significant growth during the forecast period, driven by factors such as the growing demand for soft exoskeletons in healthcare and industrial applications, increasing investment in research and development, and advancements in technology. Countries such as Japan, South Korea, and China were expected to be key markets in the region, due to the presence of a large number of players in these countries and the high demand for soft exoskeletons.Latin America and the Middle East and Africa were expected to see moderate growth during the forecast period, driven by factors such as the increasing adoption of soft exoskeletons in healthcare and industrial applications, and rising investment in research and development. However, the market in these regions was expected to be relatively small compared to other regions, due to the low awareness and limited adoption of soft exoskeletons.

Soft Exoskeleton Market Forecasts 2030 

The growth of the market was expected to be driven by factors such as increasing demand for rehabilitation and physical therapy, need for better workplace safety and ergonomics, advancements in technology, rising interest in sports and personal use, and increasing investment in research and development.In terms of application, the healthcare segment was expected to be the largest market for soft exoskeletons, driven by the increasing demand for rehabilitation and physical therapy. The industrial segment was also expected to see significant growth during the forecast period, driven by the need for better workplace safety and ergonomics.In terms of product type, the powered soft exoskeletons segment was expected to dominate the market during the forecast period, driven by the increasing adoption of powered soft exoskeletons in healthcare and industrial applications, and advancements in technology.North America was expected to be the largest market for soft exoskeletons during the forecast period, followed by Europe and Asia-Pacific. The Asia-Pacific region was expected to see the highest growth rate, driven by factors such as the growing demand for soft exoskeletons in healthcare and industrial applications, increasing investment in research and development, and advancements in technology.

Soft Exoskeleton Market Key Industry Players

Some of the key players operating in the soft exoskeleton market included:

Ekso Bionics

Bionik Laboratories

ReWalk Robotics

Lockheed Martin

Roam Robotics

Sarcos Robotics

Parker Hannifin Corporation

Focal Meditech

Wandercraft

Comau

These companies were primarily focused on product innovation, partnerships, collaborations, and acquisitions to expand their market presence and increase their market share. The competition in the market was intense, with companies investing heavily in research and development to develop new products and gain a competitive edge.