Market Size in 2021 | Market Forecast in 2028 | CAGR (in %) | Base Year |
---|---|---|---|
USD 665 Billion | USD 11.86 Billion | 44.37% | 2021 |
FrequentlyAsked Questions
The global wearable robotic exoskeleton market is anticipated to grow owing to the various research & development activities carried out in the field of robotic processes and artificial intelligence.
According to Zion Market Research, the global wearable robotic exoskeleton market size was worth around USD 665 million in 2021 and is predicted to grow to around USD 11.86 billion by 2028 with a compound annual growth rate (CAGR) of roughly 44.37% between 2022 and 2028.
The global wearable robotic exoskeleton market is anticipated to be dominated by North America during the forecast period owing to the fact that the USA has the presence of multiple billion-dollar organizations working towards developing and upgrading the already existing market of wearable robotic exoskeletons
The global wearable robotic exoskeleton market is led by players like Myomo Inc., Bionik Laboratories Corp., ATOUN Inc, Cyberdyne Inc., Lockheed Martin Corporation, Parker Hannifin Corporation, Mitsubishi Heavy Industries, Ltd., Ekso Bionics Holdings, Inc., Daiya Industry Co., Ltd., B-Temia Inc., and P&S Mechanics Co. Ltd.
Wearable robotic exoskeletons, also known as exoskeletons or powered exosuits, are augmentation or aid devices for human mobility that are worn by humans. These exoskeletons can also go by the name "wearable robotic exoskeletons." They are primarily meant to support or augment the user's strength, endurance, and mobility. Their primary function is to aid the wearer. Exoskeletons are often constructed out of a frame or shell that is worn on the exterior of the body, in addition to motors or other mechanical components that help power the device. The user controls the exoskeleton by using a combination of sensors and computerized controls that react to the user's movements and provide feedback to the user. In most cases, the user controls the exoskeleton themselves.
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