Wearable Robotic Exoskeleton Market Insights, Key Growth Drivers, Segment Analysis, and Competitive Landscape through 2033

"The new report published by The Business Research Company, titled "" Wearable Robotic Exoskeleton Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033"", delivers an in-depth analysis of the leading size and forecasts, investment opportunities, winning strategies, market drivers and trends, competitive landscape, and evolving market trends.

As per the report, the wearable robotic exoskeleton market size has grown exponentially in recent years. It will grow from $1.16 billion in 2023 to $1.71 billion in 2024 at a compound annual growth rate (CAGR) of 47.3%. The wearable robotic exoskeleton market size is expected to see exponential growth in the next few years. It will grow to $7.12 billion in 2028 at a compound annual growth rate (CAGR) of 42.9%.

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Rising Incidence Of Spinal Cord Injuries Fuels Growth Of Wearable Robotic Exoskeleton Market
The rising number of spinal cord injuries is expected to propel the growth of the wearable robotic exoskeleton market in the coming years. Spinal cord injuries (SCIs) refer to damage or trauma to the spinal cord, a crucial bundle of nerves running down the vertebral column. Wearable robotic exoskeletons are used for spinal cord injuries to enhance mobility and provide support for individuals with impaired motor functions. For instance, in October 2022, according to the New Zealand Spinal Trust, a New Zealand-based non-profit organization, the incidence of spinal cord injuries (SCI) in New Zealand is currently 45 per million, a slight increase from 41 per million in 2021. Therefore, the rising number of spinal cord injuries is driving the wearable robotic exoskeleton market.

AI And Machine Learning Integration For Enhanced Product Capabilities
Major companies operating in the wearable robotic exoskeleton market are focusing on the integration of AI and machine learning into developed products, such as AI-powered exoskeletons, to strengthen their position in the market. An AI-powered exoskeleton is a wearable robotic device that incorporates artificial intelligence (AI) technology to enhance its functionality, responsiveness, and adaptability. For instance, in December 2021, German Bionic, a Germany-based company that manufactures smart exoskeletons and wearables, launched the fifth generation Cray X. The fifth generation Cray X has significant improvements such as an active walking aid, IP54 waterproofing, a more powerful 40 V battery, and a redesigned energy management system. Furthermore, the unique onboarding assistant simplifies the process of getting started, and the Smart Safety Companion-German Bionic's AI-based ergonomic early warning system-improves workplace safety and assists organizations in meeting their ESG and sustainability objectives. The latest Cray X model broadens the range of applications and introduces new aspects of human enhancement.

The wearable robotic exoskeleton market covered in this report is segmented -

1) By Type: Passive, Powered
2) By Actuation Technology: Electric, Hydraulic, Fully Mechanical, Other Actuation Technology
3) By Application: Rehabilitation, Assistive, Body Parts Support, Sports
4) By End User: Healthcare, Industrial, Defense, Commercial

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Major companies operating in the wearable robotic exoskeleton market report are Lockheed Martin Corporation, Mitsubishi Heavy Industries Ltd., Parker Hannifin Corporation, Comau LLC, Fourier Intelligence, Genesis Robotics, Hocoma AG (DIH International Ltd.), Myomo Inc., Cyberdyne Inc., Sarcos Corporation, ATOUN Inc, Ekso Bionics Holdings Inc., Bioservo Technologies AB, Daiya Industry Co. Ltd., ReWalk Robotics Inc., Skelex AG, Focal Meditech BV, B-Temia Inc., Technaid S.L., GenElek Technologies, Rex Bionics PLC, Innervo Labs, Harmonic Bionics, Gogoa Mobility Robots, Bionik Laboratories Corp., P&S Mechanics Co. Ltd., Skeletonics

Contents of the report:
1. Executive Summary
2. Wearable Robotic Exoskeleton Market Report Structure
3. Wearable Robotic Exoskeleton Market Trends And Strategies
4. Wearable Robotic Exoskeleton Market - Macro Economic Scenario
5. Wearable Robotic Exoskeleton Market Size And Growth
…..
27. Wearable Robotic Exoskeleton Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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