A recent study by Fact.MR on the wearable exoskeleton market offers a 10-year forecast for 2024 to 2031. The study analyzes crucial trends that are currently determining the growth of the market. This report explicates on vital dynamics, such as the drivers, restraints, and opportunities for key market players along with key stakeholders as well as emerging players associated with offering wearable exoskeletons.
Wearable Exoskeleton market research study in brief
The business intelligence study for the Wearable Exoskeleton market provides an extensive synopsis of essential aspects involving the product classification, important definitions, and other industry-specific parameters. The report also covers the key factors associated with the current events such as alliances, mergers & acquisitions, and new product launches.
Additionally, the Wearable Exoskeleton market study puts forth a rigid basis for collecting a cluster of insights that potential customers can use to enhance their revenues and reduce costs. The illustration of data on Wearable Exoskeleton market segmentation by type, application, and geography offers a critical viewpoint of, what manufacturers are eyeing for the stipulated timeframe, 2018 – 2028.
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The Wearable Exoskeleton market study answers critical questions including:
- What tactics are being utilized by the Wearable Exoskeleton market players to expand their production footprint in region?
- What are the threats faced by players in the global Wearable Exoskeleton market mutually?
- Why region holds the majority of share in the global Wearable Exoskeleton market?
- Why segment has the largest consumption in region?
The global wearable exoskeleton market is expected to embark on a positive expansion trajectory, with long-term prospects appearing extremely lucrative, concludes award winning market research company Fact.MR. The market is slated to expand at a stellar CAGR exceeding 30%, reaching more than US$ 3 billion in value by 2031.
As per Fact.MR’s analysis, the market experienced credible gains in the past, topping US$ 100 million recently. Extensive application in the healthcare and military domains is cited as the key growth catalyst for market growth. As per WHO’s estimates, annual global incidence of spinal cord injuries (SCI) is 40 to 80 cases per million population, with 90% of them being traumatic cases, thereby stimulating demand for wearable exoskeletons.
For the military domain, countries such as the U.S. are actively deploying exoskeletons to improve specific soldier capabilities. Lockheed Martin’s OnyxTM and Dephy’s ExoBoot are testimonies to such extensive applications. Recently, in 2019, the Indian government announced deployment of exoskeleton technology within its army, an initiative part and parcel of the ambitious Make in India campaign.
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The keyword market report answers important questions which include:
- What does the status of the keyword market look like after the forecast period?
- Which region has the highest contribution to the global keyword market and why?
- Which players remain at the top of the global keyword market?
- What opportunities are available for the Wearable Exoskeleton market players to expand their production footprint?
- Which segment has the maximum impact on the global Wearable Exoskeleton market?
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Key Takeaways from Market Study
- By product, demand for soft smart exoskeletons is poised to reach new heights, amid greater flexibility needs
- Lower extremity wearable exoskeletons are expected to post substantial gains, amid rising lower-limb neurological disorders
- By application, rehabilitation exoskeletons are anticipated to acquire a lucrative share in the market
- Healthcare to remain the dominant end-user application area for wearable exoskeletons
- Extensive military grade applications to enhance growth prospects of the market in the U.S.
- Market growth in Germany is characterized by extensive robotics deployment
- France to experience high growth amid surging exoskeleton start-up spawning rate
“Rising physical fatigue levels due to muscle wear and tear is prompting all labor-intensive industries to invest in advanced wearable exoskeletons to provide enhanced comfort to employees, heightening market growth prospects,” says a Fact.MR analyst.
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