Wearable Exoskeleton Market Industry Growth Prospects 2031Posted by Divakar on April 23rd, 2021 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. To remain ‘ahead’ of your competitors, request for a sample – https://www.factmr.com/connectus/sample?flag=S&rep_id=3436 Key Takeaways from Market Study
“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. For critical insights on this market, request for Methodology here – https://www.factmr.com/connectus/sample?flag=RM&rep_id=3436 Competitive Landscape EksoBionics, ReWalkRobotics, Bionik, Inc., Cyberdyne Inc., Rex Bionics Ltd., HocomaAG, Wearable Robotics srl, Fourier Intelligence, AXOSUITS SRL, FREE Bionics Taiwan Inc., Innophys Co., Ltd., Medexo Robotics, Noonee, Technaid, Walkbot (P&S Mechanics Co. Ltd), Lockheed Martin Corporation, and RB3D are some key players profiled in Fact.MR’s report. The market is characterized by significant developments, ranging from product launches to strategic collaborations with existing players as well numerous governmental agencies. In 2018, Lockheed Martin Corporation received a US$ 6.9 million grant from the US Army Natick Soldier Research, Development and Engineering Center (NSRDEC) to further develop its ONYXTM exoskeleton for future soldier demonstrations. Also, RB3D offers Exoback and Exopush wearable exoskeletons. The former is designed to provide total freedom of movement, facilitating 100% arms flexing, with no hindrance to working, especially for construction workers. The Exopush is an active exoskeleton for assisting the movements of the user performing finishing tasks such as leveling or raking. About Fact.MR Market research and consulting agency with a difference! That’s why 80% of Fortune 1,000 companies trust us for making their most critical decisions. We have offices in US and Dublin, whereas our global headquarter is in Dubai. While our experienced consultants employ the latest technologies to extract hard-to-find insights, we believe our USP is the trust clients have on our expertise. Spanning a wide range – from automotive & industry 4.0 to healthcare & retail, our coverage is expansive, but we ensure even the most niche categories are analyzed. Reach out to us with your goals, and we’ll be an able research partner. Contact: Corporate Headquarter: Like it? Share it! More by this author |