South Africa Exoskeleton Market Size & Outlook, 2023-2030
South Africa exoskeleton market, 2016-2030 (US$M)
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South Africa exoskeleton market highlights
- The South Africa exoskeleton market generated a revenue of USD 0.8 million in 2023 and is expected to reach USD 2.5 million by 2030.
- The South Africa market is expected to grow at a CAGR of 17.1% from 2024 to 2030.
- In terms of segment, lower body was the largest revenue generating extremities in 2023.
- Upper Body is the most lucrative extremities segment registering the fastest growth during the forecast period.
Exoskeleton market data book summary
| Market revenue in 2023 | USD 0.8 million |
| Market revenue in 2030 | USD 2.5 million |
| Growth rate | 17.1% (CAGR from 2023 to 2030) |
| Largest segment | Lower body |
| Fastest growing segment | Upper Body |
| Historical data | 2016 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Upper Body, Lower Body, Full Body |
| Key market players worldwide | Ekso Bionics Holdings Inc, Lockheed Martin Corp, Ottobock, Rex Bionics, Rewalk Robotics Ltd, Cyberdyne Inc, Panasonic Holdings Corp, Hocoma, RB3D |
Other key industry trends
- In terms of revenue, South Africa accounted for 0.6% of the global exoskeleton market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Middle East & Africa, Saudi Arabia exoskeleton market is projected to lead the regional market in terms of revenue in 2030.
- Kuwait is the fastest growing regional market in Middle East & Africa and is projected to reach USD 1.3 million by 2030.
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Exoskeleton Market Scope
Exoskeleton Market Companies
| Name | Profile | # Employees | HQ | Website |
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South Africa exoskeleton market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to exoskeleton market will help companies and investors design strategic landscapes.
Lower body was the largest segment with a revenue share of 50% in 2023. Horizon Databook has segmented the South Africa exoskeleton market based on upper body, lower body, full body covering the revenue growth of each sub-segment from 2016 to 2030.
The presence of Ekso Bionics, which designs, manufactures, and markets exoskeleton devices for use in various areas, such as medical, industrial, consumer, and military markets, in South Africa is one of the crucial factors expected to boost the usage rate of exoskeleton technology in the country over the forecast period.
In addition, rising geriatric population, which is susceptible to conditions such as stroke and other heart conditions that would require external assistance through devices such as exoskeleton, is another factor boosting the market growth.
For instance, according to data provided by World Bank, the geriatric population in South Africa, increased from 3.1 million in 2018 to 3.4 million in 2021. Moreover, increasing prevalence of spinal cord injury in the country is expected to propel market growth.
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Horizon Databook provides a detailed overview of country-level data and insights on the South Africa exoskeleton market , including forecasts for subscribers. This country databook contains high-level insights into South Africa exoskeleton market from 2016 to 2030, including revenue numbers, major trends, and company profiles.
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South Africa exoskeleton market size, by extremities, 2016-2030 (US$M)
South Africa Exoskeleton Market Outlook Share, 2023 & 2030 (US$M)
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