The Wearable Robots Market Report studies key trends to forecast the performance for the coming years from 2023-2032. For the study, the historical years considered are 2023 and 2021, 2022 is the base year, 2023-2032 is the forecast period. This report gives readers an extensive idea about the share, size, trends, and growth of the industry in the current and following years. The research gives forecast trends deduced by evaluating the historical data studied in the report.
Wearable Robots Market: Introduction
The usability and scope of this industry’s products are wide. Wearable robots are not only used for medical injury and recovery but also manual work. Patients diagnosed with paralysis or injury that restricts the movement is primarily helped by wearable robots to correct their posture and avoiding further injury. Workers at construction sites also use this to increase their capacities and optimize safety. Additionally, it increases the efficiency and quality of work executed by the workers. The report considers the different factors which affect the functioning and future trends of the Wearable Robots markets.
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Wearable Robots Market: Dynamics
The industry is driven by the high usability of wearable robots, and there are a lot of competitors in the global landscape. The entrants need to make some innovations to deeper penetrate the sector and appeal to the consumers to shift from their preferred brands. The report details key trends from the historical years and is expected to fare in the forecast period. The sector is expected to deliver a CAGR of 22.3% by the year 2032, indicating significant growth in the future. The industry is anticipated to reach a valuation of more than USD 182.92 Million per annum globally by the end of the forecast period.
Wearable Robots Market: Competitive Landscape
The increasing acceptability of this product is leading to an increase in the number of participants in the global business. The leading region for the product is in North America and is predicted to shift to Asia Pacific due to the increasing development and advancement in military equipment. The report covers the key participants and their strategies. The report is available for customization according to the requirements of the user. This is made possible to increase the comprehensibility of the report and to help readers in making beneficial and well-informed business decisions.
Wearable Robots Market: Regional Outlook
The largest region for Wearable Robots is in North America, with the United States having a majority holding due to the regional military requirements. However, this seems to be changing due to the heavy demand from the Asia Pacific region. The robots do not only act as an additional level of protection but also enhance the ability of a soldier to lift weight to up to 17 kgs extra.
There are seven start-ups in Europe that majorly contribute to the Wearable Robots Industry, namely:
- Marsi Bionics
- Able Human Motion
The events, technology upgradations, shifts in consumer behavior, etc. are factors that act as drivers and restraints of the market growth. These aspects play a major role in shaping the trends of the eco-system for the market in the forecast period.
Wearable Robots Market: Segmentation
By Type (Revenue in USD Million; Volume in Tons, 2023–2032)
- Powered Exoskeletons
- Passive Exoskeletons
By Application (Revenue in USD Million; Volume in Tons, 2023–2032)
- Military and Defence
- Ekso Bionics
- Lockheed Martin
- BAE Systems
- Revision Military
- China North Industries Group Corporation (NORINCO)
- Rex Bionics
- Parker Hannifin
By Region (Revenue in USD Million; Volume in Tons, 2023–2032)
- North America
- Asia Pacific
- South Korea
- New Zealand
- Rest of APAC
- Latin America
- Rest of Latin America
- Middle East and Africa
- Saudi Arabia
- South Africa
- Rest of MEA
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