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 has witnessed significant advancements in recent years, driven by the increasing demand for rehabilitation and assistance in mobility for individuals with disabilities or those recovering from injuries. These sophisticated devices are designed to enhance human strength and endurance, providing support to users in various settings, including medical facilities, industrial workplaces, and military applications. The integration of cutting-edge technologies such as artificial intelligence, sensor systems, and machine learning into exoskeleton designs has enabled improved user experience, adaptability, and efficiency. As a result, the market is expected to grow substantially, fueled by ongoing research and development efforts aimed at refining exoskeleton capabilities and expanding their applications.
Moreover, government initiatives and funding for rehabilitation technologies are playing a crucial role in propelling the growth of the wearable robotic exoskeleton market. Many countries are recognizing the importance of such innovations in enhancing the quality of life for individuals with mobility impairments. Collaborative efforts among healthcare providers, technology companies, and research institutions are fostering the development of customized solutions tailored to specific patient needs. Furthermore, the rise in the aging population globally, coupled with the growing prevalence of chronic conditions, is anticipated to drive the demand for wearable robotic exoskeletons. This trend highlights the potential for these devices to revolutionize rehabilitation practices and improve patient outcomes in the healthcare industry
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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 globalWearable 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 theWearable 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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