Wearable Robots Market to Reach Valuation of USD 8345.8 Million by 2028 - Rising Developments in Advanced Robotics is Driving the Wearable Robots Market

Vantage Market Research

Feb 21, 2022

In terms of revenue, the Global Wearable Robots Market is expected to reach USD 8345.8 Million by 2028, growing at a Compound Annual Growth Rate (CAGR) of 40.10% from 2021 to 2028. Wearable Robots are a specific type of device which is used to enhance the physical abilities or certain motions of an individual or person. Rising development in robotics in the medical and manufacturing sector is expected to generate revenue from the Wearable Robots Market in the coming future.

Key Findings

  • Robot-assisted therapy is currently being used in healthcare facilities. This technology is promising the growth of Wearable Robots Market.
  • The use of technical indicators to monitor the performance of Wearable Robots is currently considered for better output and higher productivity with a high percentage of accuracy.
  • The high cost of Wearable Robots is one of the restraining factors. These robots are manufactured under critical conditions and hence need to be extremely quality controlled.

Some of the key players dominating the Global Wearable Robots Market include - Cyberdyne Inc., Ekso Bionics, Hocoma, ReWalk Robotics, BIONIK, Wearable Robotics srl, Sarcos Technology and Robotics Corporation, Comau, ExoAtlet, Rex Bionics Ltd..

Wearable Robots are considered as a specific type of wearable device that is used to enhance an individual motion and physical abilities. The principles of a wearable robot are that it involves physical hardware for assisting with human motion. Some of the models of Wearable Robots can help individuals to walk, which may be used for post-surgery or rehab purposes. A particular characteristic of the wearable robot interface is that these pieces of hardware can be programmed in a variety of ways. Sensors or devices can take in verbal, behavioral, or other input in order to facilitate specific types of movement. These kinds of resources represent an exciting application of new technology to medical use, where paralyzed or disabled individuals may benefit greatly from these Wearable Robots, which involve the junction of sophisticated new hardware, big data, and wireless technologies. These are some of the advantages of using Wearable Robots which are further enhancing the growth of Wearable Robots Market.

Asia Pacific is expected to grow at the fastest Compound Annual Growth Rate (CAGR) in coming years due to the high demand of Wearable Robots in the wine industry. Wearable Robots are currently undergoing a transition from the initial development phase to the commercialization phase in this region. The combination of targeted material characteristics with complex internal electronics programs has been realized with manufacturing techniques which intensified the manufacturing process of Wearable Robots production in coming years. Major players in countries such as U.S and Canada are investing huge funds for the Research and Development (R&D) of Wearable Robots which will be benefited to serve a better purpose in coming years.

Wearable Robots Market by Type (Powered Exoskeletons, Passive Exoskeletons), by Application (Healthcare, Military & Defense, Industrial, Other End-user Industries), by Region (North America, Latin America, Europe, Asia Pacific) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)