What is the global market size of Wearable Robotic Exoskeleton Market?

Global Wearable Robotic Exoskeleton Market size was valued at USD 671.6 million in 2021 and is poised to grow from USD 952.5 million in 2022 to USD 11995.7 million by 2030, growing at a CAGR of 43.6% in the forecast period (2023-2030).

Global Wearable Robotic Exoskeleton Market Size, Share, Growth Analysis, By Type(Full Body, Upper Body), By End-User(Industrial, Defense) - Industry Forecast 2024-2031

Report ID: SQSG25K2008 | Region: Global | Published Date: February, 2024
Pages: 157 | Tables: 64 | Figures: 75

Global Wearable Robotic Exoskeleton Market Regional Insights

North America is expected to control the global wearable robotic exoskeleton market share. This is explained by the existence of multiple well-known market participants in the United States. Additionally, it is projected that significant investments made in wearable robotics by regional firms would open up more prospects for the development of advanced exoskeletons with a number of options and features based on the current market trends.

Exoskeleton adoption is currently low in the Asia-Pacific wearable robotic exoskeleton market, but it has significant growth potential in the coming years. The exoskeleton market in this region is expanding quickly thanks to population growth and rising economic development. As some of the world's most rapidly developing technological nations, such as China, India, and South Korea, this region offers significant growth potential for market participants. Additionally, the presence of a sizable patient pool, rising disposable income, the availability of government funding, and the prevalence of stroke and spinal cord injuries are all expected to contribute to the Asia Pacific market's expansion over the course of the forecast period.

The wearable exoskeleton market in Europe is expanding as a result of developments in building, aerospace, and other industries. To obtain a competitive edge, a number of market competitors in the area are concentrating on creating sector-specific exosuits. Exosuits' ongoing development in the industrial sector will fuel regional growth even further.

Global Wearable Robotic Exoskeleton Market Report Snapshots

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Global Wearable Robotic Exoskeleton Market size was valued at USD 671.6 million in 2019 and is poised to grow from USD 952.5 million in 2023 to USD 11995.7 million by 2031, growing at a CAGR of 43.6% in the forecast period (2024-2031).

Global wearable robotic exoskeleton market is highly competitive and somewhat fragmented. To maintain a competitive edge, the major industry participants are continually implementing various growth strategies. Innovations, mergers, and acquisitions, collaborations and partnerships are adopted by these players to thrive in the competitive market. In order to provide industries with the most effective and economical solutions, the major players in the wearable robotic exoskeleton market are also continually concentrating on R&D. 'CYBERDYNE, INC. (Japan)', 'Ekso Bionics (U.S.)', 'Hocoma (Switzerland)', 'ReWalk Robotics', 'Rex Bionics', 'Parker Hannifin Corporation', 'Bionik Laboratories Corp.', 'Myomo Inc.', 'Gogoa Mobility Robots', 'Wandercraft', 'Fourier Intelligence', 'Focal Meditech BV', 'Technaid S.L.', 'Bioservo Technologies AB', 'US Bionics, Inc.', 'Lockheed Martin Corporation', 'Ottobock SE & Co. KGaA', 'Honda Motor Co., Ltd.', 'Sarcos Robotics', 'SuitX'

In the global wearable robotic exoskeleton market, exoskeleton robots are being used more frequently in various industries around the globe as technology advances. The development of technologies like the interactive Internet of Things (IoT), artificial intelligence (AI), virtual guidance, interactive learning, and digital assistants in robots have benefited the logistics, medical, and engineering sectors. Furthermore, the development of methodologies, particularly human-in-the-loop optimization optimized for robotics, has significantly altered the robotics industry. In these methods, control settings and other functions are modified in real-time using measurements of human physiological data, such as breathing rate.

A number of companies have upgraded their services as a result of the rapid advancements in radiography techniques in an effort to increase their market potential and solidify their positions. The creation of new, cutting-edge Wearable Robotic Exoskeleton care tools that would lessen patients' discomfort is a major focus of the producers of Wearable Robotic Exoskeleton radiology equipment's research and development (R&D) spending.

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Global Wearable Robotic Exoskeleton Market Size, Share, Growth Analysis, By Type(Full Body, Upper Body), By End-User(Industrial, Defense) - Industry Forecast 2024-2031

Global Wearable Robotic Exoskeleton Market Regional Insights

Global Wearable Robotic Exoskeleton Market Report Snapshots

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