Wearable Robots And Exoskeletons Market
Wearable Robots and Exoskeletons Market Forecasts to 2030 - Global Analysis By Type (Powered Exoskeletons, Passive Exoskeletons and Other Types), Application (Rehabilitation, Assistive, Body Parts Support, Sports and Other Applications), End User (Healthcare, Military and Defense, Industrial, Aerospace, Commercial and Other End Users), and By Geography
|
Years Covered |
2021-2030 |
|
Estimated Year Value (2023) |
US $1.92 BN |
|
Projected Year Value (2030) |
US $11.77 BN |
|
CAGR (2023 - 2030) |
29.5% |
|
Regions Covered |
North America, Europe, Asia Pacific, South America, and Middle East & Africa |
|
Countries Covered |
US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa |
|
Largest Market |
North America |
|
Highest Growing Market |
Asia Pacific |
According to Stratistics MRC, the Global Wearable Robots and Exoskeletons Market is accounted for $1.92 billion in 2023 and is expected to reach $11.77 billion by 2030 growing at a CAGR of 29.5% during the forecast period. Devices that aid in mobility include wearable robotic exoskeletons. Exoskeletons facilitate mobility by storing energy in passively and actively motorized compressed gas bags. Because these developments perfectly complement the structure of the human body as needed, the wearable robotic exoskeleton market has made exceptional levels of robotic utilization possible. Exoskeleton technology has the potential to fundamentally alter how we live. Wearable robots are being used in a variety of sectors, including construction, industry, the military, warfighters, and more. They can significantly help the economy and also introduce new levels of employment requirements in the coming years as they become a part of everyday work culture.
According to the International Federation of Robotics, the sales of assistance robots for older and disabled communities are expected to increase substantially during the forecast period.
Market Dynamics:
Driver:
Increasing prevalence of disabilities and an aging population
The global Wearable Robots and Exoskeletons market expected to drive growth during the forecast period. Wearable robots and exoskeletons are in high demand due to the aging population and rising prevalence of disabilities, which can help seniors and people with disabilities which has mobility issues. Additionally, this group is more likely to have the financial means to purchase these gadgets, which is expected to support the market's growth.
Restraint:
High cost
The global Wearable Robots and Exoskeletons market expected to hinder growth during the forecast period. Exoskeletons and wearable robots can be pricey, especially for those who need specialized equipment. This may prevent widespread use, especially in developing nations where high healthcare costs are a major issue. However, as technology develops and production volumes rise, it is anticipated that the price of these devices will go down.
Opportunity:
Increase in the need for healthcare and rehabilitation
The global Wearable Robots and Exoskeletons market expected to drive growth during the forecast period. In the healthcare and rehabilitation industries, there is a growing demand for wearable robots and exoskeletons, which offers the market a sizable opportunity. In addition to enhancing the quality of life for those who have mobility impairments, these devices can assist patients in recovering from illnesses and injuries. The growing use of telemedicine and remote patient monitoring is also anticipated to increase demand for wearable robots and exoskeletons in the healthcare industry.
Threat:
Limited knowledge and instruction
The global Wearable Robots and Exoskeletons market expected to hamper growth during the forecast period. The adoption of wearable robots and exoskeletons may be constrained by the lack of knowledge and understanding about these devices among potential users, healthcare professionals, and policymakers. This could pose obstacles to the market's expansion, especially in places where people are less familiar with or knowledgeable about these devices. Exoskeletons and wearable robots can, however, be more widely adopted by removing these obstacles through increased public awareness and educational initiatives.
Covid-19 Impact:
The Wearable robot and exoskeleton Market has been impacted by COVID-19 in a variety of ways. Even though the pandemic has brought attention to the value of these devices in healthcare settings, delays in production and delivery have resulted from the disruption of global supply chains and manufacturing operations. The demand for wearable robots and exoskeletons in industrial and military applications has also decreased as a result of the economic uncertainty brought on by the pandemic. However, it is anticipated that the growing use of telemedicine and remote patient monitoring will fuel demand for wearable robots and exoskeletons in the healthcare industry, creating a sizable opportunity for the market.
The industrial segment is expected to be the largest during the forecast period
The industrial sector will hold the largest market share for wearable robots and exoskeletons during the forecast period as a result of the growing use of these tools in the manufacturing, logistics, and construction sectors. Wearable robots and exoskeletons have been used to increase the productivity and efficiency of industrial operations while lowering worker fatigue and injury risks. Due to the growing demand for automation and robotics in the manufacturing sector, the market is anticipated to continue expanding. As businesses look to increase worker productivity and safety, wearable robots and exoskeletons are also anticipated to become more common in the logistics and construction sectors.
The rehabilitation segment is expected to have the highest CAGR during the forecast period
The rehabilitation segment is anticipated to witness the fastest CAGR growth during the forecast period. The rehabilitation sector has experienced some of the fastest growth in the market. This is brought on by an increase in both the prevalence of disabilities and the demand for medical equipment that can speed up patients' recoveries from illnesses and injuries. The rehabilitation market is expanding as a result of the availability of wearable robots and exoskeletons that can offer patients with mobility impairments the much-needed assistance they require. In the years to come, this trend is anticipated to persist.
Region with largest share:
During the forecast period, North America is anticipated to account for the largest share of the global market for wearable robots and exoskeletons, due to the rising demand for devices that can enhance patient outcomes and worker safety, the healthcare and industrial sectors have been the main drivers of growth in North America. Moreover, the growth of the market in North America has also been aided by the presence of significant manufacturers and technological advancements in the area.
Region with highest CAGR:
Due to the growing use of these devices in the industrial and healthcare sectors in the region, Asia-Pacific is predicted to have the market for wearable robots and exoskeletons with the highest CAGR. The Asia-Pacific market is anticipated to expand as a result of the region's aging population and high prevalence of disabilities. The availability of inexpensive labor and supportive government initiatives to encourage the adoption of cutting-edge technologies are also anticipated to fuel market expansion in the area.
Key players in the market
Some of the key players in Wearable Robots and Exoskeletons market include ATOUN Inc, Bionik Laboratories Corp, B-Temia Inc, Cyberdyne Inc, Daiya Industry Co., Ltd., Ekso Bionics Holdings, Inc., Focal Meditech BV, Honda Motor Co. Ltd, Lockheed Martin Corporation, Mitsubishi Heavy Industries, Ltd., Myomo Inc., P&S Mechanics Co. Ltd., Parker Hannifin Corporation, ReWalk Robotics Ltd., Rex Bionics Pty Ltd., Sarcos Corporation, Technaid S, Wearable Robotics Srl.
Key Developments:
In May 2023, German Bionic, an Augsburg-based business, created wearable exoskeletons that give users superhuman power. The Cray X and the recently released Apogee, two commercially available exoskeletons from Germanic Bionic, are worn like a backpack. Electric motors drive them, and they may add up to 30 kg of additional force to your legs, core, and back when and where you need it.
In May 2023, Cyberdyne Medical's Hybrid Assistive Limb (HAL) is a brain-controlled robotic technology installed at IBS Hospital. The non-invasive method was initially used at IBS Hospital in India and the South-East Asia region. The world's first wearable cyborg robot, HAL, was created by Japanese researchers. It is based on a novel technology known as "cybernetics."
In March 2023, Svaya Robotics created the first quadruped robot in the nation and a wearable exoskeleton in collaboration with DRDO Labs - Research and Development Establishment, Pune, and Defence Bio-engineering & Electro Medical Laboratory, Bangalore. The quadruped robot can navigate challenging terrain, giving the armed forces a remote reconnaissance and inspection facility.
Types Covered:
• Powered Exoskeletons
• Passive Exoskeletons
• Other Types
Applications Covered:
• Rehabilitation
• Assistive
• Body Parts Support
• Sports
• Other Applications
End Users Covered:
• Healthcare
• Military and Defense
• Industrial
• Aerospace
• Commercial
• Other End Users
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Application Analysis
3.7 End User Analysis
3.8 Emerging Markets
3.9 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Wearable Robots and Exoskeletons Market, By Type
5.1 Introduction
5.2 Powered Exoskeletons
5.3 Passive Exoskeletons
5.4 Other Types
6 Global Wearable Robots and Exoskeletons Market, By Application
6.1 Introduction
6.2 Rehabilitation
6.3 Assistive
6.4 Body Parts Support
6.5 Sports
6.6 Other Applications
7 Global Wearable Robots and Exoskeletons Market, By End User
7.1 Introduction
7.2 Healthcare
7.3 Military and Defense
7.4 Industrial
7.5 Aerospace
7.6 Commercial
7.7 Other End Users
8 Global Wearable Robots and Exoskeletons Market, By Geography
8.1 Introduction
8.2 North America
8.2.1 US
8.2.2 Canada
8.2.3 Mexico
8.3 Europe
8.3.1 Germany
8.3.2 UK
8.3.3 Italy
8.3.4 France
8.3.5 Spain
8.3.6 Rest of Europe
8.4 Asia Pacific
8.4.1 Japan
8.4.2 China
8.4.3 India
8.4.4 Australia
8.4.5 New Zealand
8.4.6 South Korea
8.4.7 Rest of Asia Pacific
8.5 South America
8.5.1 Argentina
8.5.2 Brazil
8.5.3 Chile
8.5.4 Rest of South America
8.6 Middle East & Africa
8.6.1 Saudi Arabia
8.6.2 UAE
8.6.3 Qatar
8.6.4 South Africa
8.6.5 Rest of Middle East & Africa
9 Key Developments
9.1 Agreements, Partnerships, Collaborations and Joint Ventures
9.2 Acquisitions & Mergers
9.3 New Product Launch
9.4 Expansions
9.5 Other Key Strategies
10 Company Profiling
10.1 ATOUN Inc
10.2 Bionik Laboratories Corp.
10.3 B-Temia Inc.
10.4 Cyberdyne Inc
10.5 Daiya Industry Co., Ltd.
10.6 Ekso Bionics Holdings, Inc.
10.7 Focal Meditech BV
10.8 Honda Motor Co. Ltd
10.9 Lockheed Martin Corporation
10.10 Mitsubishi Heavy Industries, Ltd.
10.11 Myomo Inc.
10.12 P&S Mechanics Co. Ltd.
10.13 Parker Hannifin Corporation
10.14 ReWalk Robotics Ltd.
10.15 Rex Bionics Pty Ltd.
10.16 Sarcos Corporation
10.17 Technaid S
10.18 Wearable Robotics Srl
List of Tables
1 Global Wearable Robots and Exoskeletons Market Outlook, By Region (2021-2030) ($MN)
2 Global Wearable Robots and Exoskeletons Market Outlook, By Type (2021-2030) ($MN)
3 Global Wearable Robots and Exoskeletons Market Outlook, By Powered Exoskeletons (2021-2030) ($MN)
4 Global Wearable Robots and Exoskeletons Market Outlook, By Passive Exoskeletons (2021-2030) ($MN)
5 Global Wearable Robots and Exoskeletons Market Outlook, By Other Types (2021-2030) ($MN)
6 Global Wearable Robots and Exoskeletons Market Outlook, By Application (2021-2030) ($MN)
7 Global Wearable Robots and Exoskeletons Market Outlook, By Rehabilitation (2021-2030) ($MN)
8 Global Wearable Robots and Exoskeletons Market Outlook, By Assistive (2021-2030) ($MN)
9 Global Wearable Robots and Exoskeletons Market Outlook, By Body Parts Support (2021-2030) ($MN)
10 Global Wearable Robots and Exoskeletons Market Outlook, By Sports (2021-2030) ($MN)
11 Global Wearable Robots and Exoskeletons Market Outlook, By Other Applications (2021-2030) ($MN)
12 Global Wearable Robots and Exoskeletons Market Outlook, By End User (2021-2030) ($MN)
13 Global Wearable Robots and Exoskeletons Market Outlook, By Healthcare (2021-2030) ($MN)
14 Global Wearable Robots and Exoskeletons Market Outlook, By Military and Defense (2021-2030) ($MN)
15 Global Wearable Robots and Exoskeletons Market Outlook, By Industrial (2021-2030) ($MN)
16 Global Wearable Robots and Exoskeletons Market Outlook, By Aerospace (2021-2030) ($MN)
17 Global Wearable Robots and Exoskeletons Market Outlook, By Commercial (2021-2030) ($MN)
18 Global Wearable Robots and Exoskeletons Market Outlook, By Other End Users (2021-2030) ($MN)
19 North America Wearable Robots and Exoskeletons Market Outlook, By Country (2021-2030) ($MN)
20 North America Wearable Robots and Exoskeletons Market Outlook, By Type (2021-2030) ($MN)
21 North America Wearable Robots and Exoskeletons Market Outlook, By Powered Exoskeletons (2021-2030) ($MN)
22 North America Wearable Robots and Exoskeletons Market Outlook, By Passive Exoskeletons (2021-2030) ($MN)
23 North America Wearable Robots and Exoskeletons Market Outlook, By Other Types (2021-2030) ($MN)
24 North America Wearable Robots and Exoskeletons Market Outlook, By Application (2021-2030) ($MN)
25 North America Wearable Robots and Exoskeletons Market Outlook, By Rehabilitation (2021-2030) ($MN)
26 North America Wearable Robots and Exoskeletons Market Outlook, By Assistive (2021-2030) ($MN)
27 North America Wearable Robots and Exoskeletons Market Outlook, By Body Parts Support (2021-2030) ($MN)
28 North America Wearable Robots and Exoskeletons Market Outlook, By Sports (2021-2030) ($MN)
29 North America Wearable Robots and Exoskeletons Market Outlook, By Other Applications (2021-2030) ($MN)
30 North America Wearable Robots and Exoskeletons Market Outlook, By End User (2021-2030) ($MN)
31 North America Wearable Robots and Exoskeletons Market Outlook, By Healthcare (2021-2030) ($MN)
32 North America Wearable Robots and Exoskeletons Market Outlook, By Military and Defense (2021-2030) ($MN)
33 North America Wearable Robots and Exoskeletons Market Outlook, By Industrial (2021-2030) ($MN)
34 North America Wearable Robots and Exoskeletons Market Outlook, By Aerospace (2021-2030) ($MN)
35 North America Wearable Robots and Exoskeletons Market Outlook, By Commercial (2021-2030) ($MN)
36 North America Wearable Robots and Exoskeletons Market Outlook, By Other End Users (2021-2030) ($MN)
37 Europe Wearable Robots and Exoskeletons Market Outlook, By Country (2021-2030) ($MN)
38 Europe Wearable Robots and Exoskeletons Market Outlook, By Type (2021-2030) ($MN)
39 Europe Wearable Robots and Exoskeletons Market Outlook, By Powered Exoskeletons (2021-2030) ($MN)
40 Europe Wearable Robots and Exoskeletons Market Outlook, By Passive Exoskeletons (2021-2030) ($MN)
41 Europe Wearable Robots and Exoskeletons Market Outlook, By Other Types (2021-2030) ($MN)
42 Europe Wearable Robots and Exoskeletons Market Outlook, By Application (2021-2030) ($MN)
43 Europe Wearable Robots and Exoskeletons Market Outlook, By Rehabilitation (2021-2030) ($MN)
44 Europe Wearable Robots and Exoskeletons Market Outlook, By Assistive (2021-2030) ($MN)
45 Europe Wearable Robots and Exoskeletons Market Outlook, By Body Parts Support (2021-2030) ($MN)
46 Europe Wearable Robots and Exoskeletons Market Outlook, By Sports (2021-2030) ($MN)
47 Europe Wearable Robots and Exoskeletons Market Outlook, By Other Applications (2021-2030) ($MN)
48 Europe Wearable Robots and Exoskeletons Market Outlook, By End User (2021-2030) ($MN)
49 Europe Wearable Robots and Exoskeletons Market Outlook, By Healthcare (2021-2030) ($MN)
50 Europe Wearable Robots and Exoskeletons Market Outlook, By Military and Defense (2021-2030) ($MN)
51 Europe Wearable Robots and Exoskeletons Market Outlook, By Industrial (2021-2030) ($MN)
52 Europe Wearable Robots and Exoskeletons Market Outlook, By Aerospace (2021-2030) ($MN)
53 Europe Wearable Robots and Exoskeletons Market Outlook, By Commercial (2021-2030) ($MN)
54 Europe Wearable Robots and Exoskeletons Market Outlook, By Other End Users (2021-2030) ($MN)
55 Asia Pacific Wearable Robots and Exoskeletons Market Outlook, By Country (2021-2030) ($MN)
56 Asia Pacific Wearable Robots and Exoskeletons Market Outlook, By Type (2021-2030) ($MN)
57 Asia Pacific Wearable Robots and Exoskeletons Market Outlook, By Powered Exoskeletons (2021-2030) ($MN)
58 Asia Pacific Wearable Robots and Exoskeletons Market Outlook, By Passive Exoskeletons (2021-2030) ($MN)
59 Asia Pacific Wearable Robots and Exoskeletons Market Outlook, By Other Types (2021-2030) ($MN)
60 Asia Pacific Wearable Robots and Exoskeletons Market Outlook, By Application (2021-2030) ($MN)
61 Asia Pacific Wearable Robots and Exoskeletons Market Outlook, By Rehabilitation (2021-2030) ($MN)
62 Asia Pacific Wearable Robots and Exoskeletons Market Outlook, By Assistive (2021-2030) ($MN)
63 Asia Pacific Wearable Robots and Exoskeletons Market Outlook, By Body Parts Support (2021-2030) ($MN)
64 Asia Pacific Wearable Robots and Exoskeletons Market Outlook, By Sports (2021-2030) ($MN)
65 Asia Pacific Wearable Robots and Exoskeletons Market Outlook, By Other Applications (2021-2030) ($MN)
66 Asia Pacific Wearable Robots and Exoskeletons Market Outlook, By End User (2021-2030) ($MN)
67 Asia Pacific Wearable Robots and Exoskeletons Market Outlook, By Healthcare (2021-2030) ($MN)
68 Asia Pacific Wearable Robots and Exoskeletons Market Outlook, By Military and Defense (2021-2030) ($MN)
69 Asia Pacific Wearable Robots and Exoskeletons Market Outlook, By Industrial (2021-2030) ($MN)
70 Asia Pacific Wearable Robots and Exoskeletons Market Outlook, By Aerospace (2021-2030) ($MN)
71 Asia Pacific Wearable Robots and Exoskeletons Market Outlook, By Commercial (2021-2030) ($MN)
72 Asia Pacific Wearable Robots and Exoskeletons Market Outlook, By Other End Users (2021-2030) ($MN)
73 South America Wearable Robots and Exoskeletons Market Outlook, By Country (2021-2030) ($MN)
74 South America Wearable Robots and Exoskeletons Market Outlook, By Type (2021-2030) ($MN)
75 South America Wearable Robots and Exoskeletons Market Outlook, By Powered Exoskeletons (2021-2030) ($MN)
76 South America Wearable Robots and Exoskeletons Market Outlook, By Passive Exoskeletons (2021-2030) ($MN)
77 South America Wearable Robots and Exoskeletons Market Outlook, By Other Types (2021-2030) ($MN)
78 South America Wearable Robots and Exoskeletons Market Outlook, By Application (2021-2030) ($MN)
79 South America Wearable Robots and Exoskeletons Market Outlook, By Rehabilitation (2021-2030) ($MN)
80 South America Wearable Robots and Exoskeletons Market Outlook, By Assistive (2021-2030) ($MN)
81 South America Wearable Robots and Exoskeletons Market Outlook, By Body Parts Support (2021-2030) ($MN)
82 South America Wearable Robots and Exoskeletons Market Outlook, By Sports (2021-2030) ($MN)
83 South America Wearable Robots and Exoskeletons Market Outlook, By Other Applications (2021-2030) ($MN)
84 South America Wearable Robots and Exoskeletons Market Outlook, By End User (2021-2030) ($MN)
85 South America Wearable Robots and Exoskeletons Market Outlook, By Healthcare (2021-2030) ($MN)
86 South America Wearable Robots and Exoskeletons Market Outlook, By Military and Defense (2021-2030) ($MN)
87 South America Wearable Robots and Exoskeletons Market Outlook, By Industrial (2021-2030) ($MN)
88 South America Wearable Robots and Exoskeletons Market Outlook, By Aerospace (2021-2030) ($MN)
89 South America Wearable Robots and Exoskeletons Market Outlook, By Commercial (2021-2030) ($MN)
90 South America Wearable Robots and Exoskeletons Market Outlook, By Other End Users (2021-2030) ($MN)
91 Middle East & Africa Wearable Robots and Exoskeletons Market Outlook, By Country (2021-2030) ($MN)
92 Middle East & Africa Wearable Robots and Exoskeletons Market Outlook, By Type (2021-2030) ($MN)
93 Middle East & Africa Wearable Robots and Exoskeletons Market Outlook, By Powered Exoskeletons (2021-2030) ($MN)
94 Middle East & Africa Wearable Robots and Exoskeletons Market Outlook, By Passive Exoskeletons (2021-2030) ($MN)
95 Middle East & Africa Wearable Robots and Exoskeletons Market Outlook, By Other Types (2021-2030) ($MN)
96 Middle East & Africa Wearable Robots and Exoskeletons Market Outlook, By Application (2021-2030) ($MN)
97 Middle East & Africa Wearable Robots and Exoskeletons Market Outlook, By Rehabilitation (2021-2030) ($MN)
98 Middle East & Africa Wearable Robots and Exoskeletons Market Outlook, By Assistive (2021-2030) ($MN)
99 Middle East & Africa Wearable Robots and Exoskeletons Market Outlook, By Body Parts Support (2021-2030) ($MN)
100 Middle East & Africa Wearable Robots and Exoskeletons Market Outlook, By Sports (2021-2030) ($MN)
101 Middle East & Africa Wearable Robots and Exoskeletons Market Outlook, By Other Applications (2021-2030) ($MN)
102 Middle East & Africa Wearable Robots and Exoskeletons Market Outlook, By End User (2021-2030) ($MN)
103 Middle East & Africa Wearable Robots and Exoskeletons Market Outlook, By Healthcare (2021-2030) ($MN)
104 Middle East & Africa Wearable Robots and Exoskeletons Market Outlook, By Military and Defense (2021-2030) ($MN)
105 Middle East & Africa Wearable Robots and Exoskeletons Market Outlook, By Industrial (2021-2030) ($MN)
106 Middle East & Africa Wearable Robots and Exoskeletons Market Outlook, By Aerospace (2021-2030) ($MN)
107 Middle East & Africa Wearable Robots and Exoskeletons Market Outlook, By Commercial (2021-2030) ($MN)
108 Middle East & Africa Wearable Robots and Exoskeletons Market Outlook, By Other End Users (2021-2030) ($MN)
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
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