The global wearable robotic exoskeleton market value is projected to reach $8,841.6 million by 2031 in terms of value and 122,166 units in terms of volume, according to CRI’s new report. The study also highlights that the market value is set to witness a CAGR of 32.68% in terms of value and 34.01% growth rate in terms of volume between 2021 and 2031.
The comprehensive research study of the global wearable robotic exoskeleton market covers the following:
• extensive analysis of market share and competitive benchmarking of key players
• elaborated sections focused on different types of applications and products
• company profiling for more than 17 companies
• detailed global and regional market share analysis including the scrutiny of more than ten countries
The report encompasses market drivers, challenges, opportunities, competition mapping, benchmarking, and segmental analysis of regions.
This report indicates that the increasing geriatric population across the globe, rising labor cost, and budget allocation toward rehabilitation facilities across the globe are expected to support market opportunities.
Along with the drivers, the study highlights the opportunities for the market, such as the increasing rehabilitation opportunities across the globe, rising interest of insurance agencies in healthcare exoskeletons, investment done by government and other research organizations toward developing full body exoskeleton for military purpose.
To gain a holistic view of the market, data from various segments has been analyzed. These segments include end user, actuation, position, operation, form, application, component, sales channel, limb, and region. The segments are further categorized into sub-segments to get an in-depth analysis of the study.
Nilopal Ojha, Lead Analyst, states, “The global wearable robotic exoskeleton market is bound to grow in the next decade owing to the increase in investments done by major industry players, like Lockheed Martin, Raytheon Technologies, MHI, along with other government players. Establishment of various start-ups across the globe demonstrating strong technological capabilities in their existing product offerings is expected to generate market competitiveness in coming years. Various research papers and test results released by major companies and research and development organizations stating increased efficiency in work and rehabilitation therapy by at least 40% to 60% through the integration of exoskeletons are further anticipated to support market growth in coming years.”
Key insights and data triangulation are done from in-depth interviews with leaders of the leading companies and market participants. The key players profiled in the report include ATOUN Inc., B-Temia Inc., Bionik Laboratories Corporation, Cyberdyne Inc., Daiya Industry Co., Ltd., Ekso Bionics Holdings, Inc., Focal Meditech BV, Hocoma AG, Hyundai Motor, Honda Motor Co., Ltd., Lockheed Martin Corporation, Mitsubishi Heavy Industries Ltd., Myomo Inc., P&S Mechanics Co. Ltd., Parker Hannifin Corporation, ReWalk Robotics Ltd., and Rex Bionics PLC.
The report also offers strategic recommendations that can help the companies to track various trends, technologies, and products that are changing the market dynamics. The recommendations offer bespoke research services to help companies meet their objectives.
Who should buy this report?
• Manufacturers and suppliers of wearable robotic exoskeleton equipment
• Companies that are focused on developing and providing wearable robotic exoskeletons
• Emerging start-ups, government agencies, and insurance agencies that are tracking the development of wearable robotic exoskeletons
• Private investors that are interested in entering the wearable robotic exoskeleton industry
• Software providers and hardware suppliers like actuation systems, sensors, controllers, and power sources, among others
• Software developers, planning for business expansion in healthcare and rehabilitation domain
How can market intelligence on wearable robotic exoskeleton add value to an organization’s decision-making process?
• Help in analyzing technological substitutes and future trends
• Aid in targeting a segment for product launch
• Help in making the strategies required for the market
• Help in understanding the geographical scenario of the market
• Aid in analyzing the competitors’ strengths and weaknesses
• Assist in exploring new products
• Help in understanding the growth of each domain
• Assist in taking strategic decisions like investments, collaborations, and acquisitions
Insightful Questions Covered to Enable Companies to take Strategic Decisions
• What are the futuristic trends in this market, and how is the market expected to change over the forecast years 2021-2031?
• What are the key drivers and challenges faced by the companies that are currently operating in the wearable robotic exoskeleton market?
• How is the market expected to grow during the forecast period 2021-2031?
• What are the opportunities for the companies to expand their businesses in the wearable robotic exoskeleton market?
• Which region is expected to lead the wearable robotic exoskeleton market by 2031?
• What are the key developmental strategies implemented by the key players to sustain in this highly competitive market?
• What is the current and future revenue scenario of this market?