Wearable Exoskeleton Market Will Watch a Sensational Development By 2031

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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Global Wearable Exoskeleton Market: Segmentation

For clearer understanding of the Wearable Exoskeleton Market, analysts have segmented the market. The segmentation has been done on the basis of application, technology, and users. Each segment has been further explained with the help of graphs figures. This breakdown of the market gives the readers an objective view of the global Wearable Exoskeleton Market, which is essential to make sound investments.

A market research study is incomplete without regional analysis, and we are well aware of it. That is why, the report includes a comprehensive and all-inclusive study that solely concentrates on the geographical growth of the global Wearable Exoskeleton Market. The study also includes accurate estimations about market growth at the global, regional, and country levels. It empowers you to understand why some regional markets are flourishing while others are seeing a decline in growth. It also allows you to focus on geographies that hold the potential to create lucrative prospects in the near future.

Following Questions Answers Covered in the Report are:

  • How will the global Wearable Exoskeleton Market perform during the forecast period? What will be the market size in terms of value and volume?
  • Which segment will drive the global Wearable Exoskeleton Market? Which regional market will show extensive growth in the future? What are the reasons?
  • How will the market dynamics change because of the impact of future market opportunities, restraints, and drivers?
  • What are the key strategies adopted by players to sustain themselves in the global Wearable Exoskeleton Market?
  • How will these strategies influence the market growth and competition?

 

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Regional analysis includes

  • North America (U.S., Canada)
  • Latin America (Brazil, Mexico, Argentina, Chile, Peru, Rest of LATAM)
  • EU – (Germany, France, Italy, Spain), UK, BENELUX (Belgium, Netherlands, Luxemburg), NORDIC (Norway, Denmark, Iceland, Sweden), Eastern Europe (Poland, Ukraine, Czech Rep. etc.), Rest of Europe
  • CIS & Russia
  • Japan
  • Asia Pacific Excluding Japan (Greater China, India, S. Korea, ASEAN Countries, Rest of APEJ)
  • Middle East and Africa (GCC Countries, Turkey, Iran, Israel, South Africa , Rest of MEA)

How is the U.S. Military Leveraging Wearable Exoskeletons?

The U.S. is expected to yield credible gains to the global smart exoskeleton market, especially across the military sector. The U.S. army has been exploring commercial exoskeleton technologies for potential military applications, mostly to reduce strain injuries and build soldiers’ endurance.

Wearable exoskeletons have proven to be capable of enhancing physical capabilities of a warfighter, permitting them to run faster and lift much heavier objects without straining any of their joints. The U.S. Army Natick Soldier Research and Engineering Center (NSRDEC/Soldier Center) initiated a 48-month long Other Transaction Agreement (OTA) worth US$ 6.9 million for developing exoskeleton systems in 2019.

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The Report Covers Exhaustive Analysis On:

  • Market Segments
  • Market Dynamics
  • Market Size & Demand
  • Current Trends/Issues/Challenges
  • Competition & Companies involved
  • Technology
  • Value Chain

The Wearable Exoskeleton Market report answers the following queries:

  1. What is the largest share held by key players in the market?
  2. What strategies have proven most advantageous in the Wearable Exoskeleton Market?
  3. Which region promises largest opportunity for new investors during the forecast period 2021 to 2031?
  4. What factors will most likely present challenges to growth during the forecast period?
  5. What will be the value of total revenues, and at what CAGR will the growth compound during the forecast period 2021 to 2031?

 

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