The Wearable Robotic Exoskeleton Market Size was valued at USD 0.68 Billion in 2023 and is now anticipated to grow to USD 9.58 Billion by 2031, displaying a compound annual growth rate (CAGR) of 39.2% during the forecast Period 2024 - 2031.
The Wearable Robotic Exoskeleton Market is experiencing significant growth, driven by advancements in technology and an increasing demand for enhanced mobility solutions. These devices, designed to augment human strength and endurance, have found applications across various sectors, including healthcare, industrial, and military. In healthcare, wearable exoskeletons are being increasingly utilized for rehabilitation and assistance for individuals with mobility impairments, offering a new level of independence and improved quality of life. The integration of artificial intelligence and machine learning into these systems is enhancing their adaptability and efficiency, enabling more personalized and effective user experiences.
In the industrial sector, wearable robotic exoskeletons are being adopted to improve worker safety and productivity. These devices help reduce the physical strain on workers by providing support and reducing the risk of musculoskeletal injuries. This application is particularly valuable in industries requiring repetitive heavy lifting or prolonged physical exertion. Furthermore, the military is exploring the potential of these technologies to enhance soldier endurance and capability in demanding environments. The market's growth is further fueled by declining costs and increasing investment in research and development, which are expanding the accessibility and functionality of these innovative devices.
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Covid 19 impact analysis:
The latest report is the most recent study that offers 360° coverage of the Wearable Robotic Exoskeleton industry that has been facing the brunt of the adverse economic impact of the COVID-19 outbreak since the beginning of this year. The global health crisis has affected nearly every aspect of the business vertical and led to massive disruptions to the global Wearable Robotic Exoskeleton market demand and supply chains. Researchers draw predictions for the market scenario in the post-COVID era. The report, additionally, assesses the present market situation and estimates its future outcomes, keeping in mind the impact of the pandemic on the global economic landscape.
Major companies profiled in the market report include
CYBERDYNE INC., Ekso Bionics, Hocoma, ReWalk Robotics, Bionik Laboratories Corp., ExoAtlet, Lockheed Martin, Rex Bionics Pty Ltd., Sarcos Corp., Wearable Robotics Srl and others
Research objectives:
The latest research report has been formulated using industry-verified data. It provides a detailed understanding of the leading manufacturers and suppliers engaged in this market, their pricing analysis, product offerings, gross revenue, sales network & distribution channels, profit margins, and financial standing. The report’s insightful data is intended to enlighten the readers interested in this business sector about the lucrative growth opportunities in the Wearable Robotic Exoskeleton market.
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It has segmented the global Wearable Robotic Exoskeleton market
by Component
- Hardware
- Sensors
- Gyroscopes
- Microphones
- Accelerometers
- Tilt Sensors
- Force/Torque Sensors
- Position Sensors
- Others
Actuators
- Electric
- Pneumatic
- Hydraulic
- Piezoelectric
- Power Sources
- Control Systems/Controllers
- Others
Software
by Structure
- Powered
- Passive
by Body Part
- Lower Extremities
- Upper Extremities
- Full Body
by Structure
- Rigid Exoskeletons
- Soft Exoskeletons
by End Users
- Healthcare
- Defense & Aerospace
- Manufacturing
- Commercial
Key Objectives of the Global Wearable Robotic Exoskeleton Market Report:
- The report conducts a comparative assessment of the leading market players participating in the global Wearable Robotic Exoskeleton
- The report marks the notable developments that have recently taken place in the Wearable Robotic Exoskeletonindustry
- It details on the strategic initiatives undertaken by the market competitors for business expansion.
- It closely examines the micro- and macro-economic growth indicators, as well as the essential elements of the Wearable Robotic Exoskeleton market value chain.
- The repot further jots down the major growth prospects for the emerging market players in the leading regions of the market
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