South Korea Exoskeleton Market Size & Outlook, 2023-2030
South Korea exoskeleton market, 2016-2030 (US$M)
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South Korea exoskeleton market highlights
- The South Korea exoskeleton market generated a revenue of USD 0.2 million in 2023 and is expected to reach USD 1.2 million by 2030.
- The South Korea market is expected to grow at a CAGR of 25.4% 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 0.2 million |
| Market revenue in 2030 | USD 1.2 million |
| Growth rate | 25.4% (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 Korea accounted for 0.2% 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 Asia Pacific, Japan exoskeleton market is projected to lead the regional market in terms of revenue in 2030.
- Australia is the fastest growing regional market in Asia Pacific 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 |
|---|
South Korea 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 Korea exoskeleton market based on upper body, lower body, full body covering the revenue growth of each sub-segment from 2016 to 2030.
Rising elderly population and growing prevalence of health conditions, such as spinal cord injury, brain injuries, stroke, and paralysis, are some of the key factors driving market growth in the country. For instance, according to the latest data published by World Bank, geriatric population in South Korea, increased to 8.6 million in 2021 as compared to 7.4 million in 2018.
Thus, growing geriatric population is a major factor driving the adoption of exoskeletons in South Korea. Moreover, presence of key players in the country and strategic initiatives undertaken by these players & local players to strengthen their position in South Korea exoskeleton market are boosting the market growth.
For instance, P&S Mechanics Co. Ltd. is a South Korea-based company that provides exoskeleton for rehabilitation purposes. In addition, Hyundai, a global company headquartered in South Korea, provides exoskeleton technologies to help employees in performing overhead tasks.
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Our clientele includes a mix of exoskeleton market companies, investment firms, advisory firms & academic institutions.
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Horizon Databook provides a detailed overview of country-level data and insights on the South Korea exoskeleton market , including forecasts for subscribers. This country databook contains high-level insights into South Korea exoskeleton market from 2016 to 2030, including revenue numbers, major trends, and company profiles.
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South Korea exoskeleton market size, by extremities, 2016-2030 (US$M)
South Korea Exoskeleton Market Outlook Share, 2023 & 2030 (US$M)
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