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Wearable Robotic Exoskeleton Market to Hit USD 8,241.7 million in 2028; Introduction of AI, IoT, and Digital Assistants to Accelerate Growth, says Fortune Business Insights™

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Pune, India, Aug. 18, 2021 (GLOBE NEWSWIRE) — The global wearable robotic exoskeleton market is set to gain impetus from the emergence of virtual guidance, artificial intelligence (AI), interactive learning, digital assistants, and internet of things (IoT) in robots. These technologies have made them more efficient and hence they are gaining more popularity from the engineering, medical, and logistics industries. According to the International Federation of Robotics, the stock of operational industrial robots worldwide reached 3,053,000 units in 2020 from 1,828,000 units in 2016. This information is given by Fortune Business Insights™ in a published report, titled, “Wearable Robotic Exoskeleton Market, 2021-2028.” As per the report, the market size was USD 474.4 million in 2020. It is projected to grow from USD 671.2 million in 2021 to USD 8,241.7 million in 2028 at a CAGR of 43.1% in the forecast period.

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A list of renowned wearable robotic exoskeleton companies in the global market:

  • CYBERDYNE, INC. (Japan)
  • Ekso Bionics (United States)
  • Hocoma (Switzerland)
  • ReWalk Robotics (United States)
  • Bionik Laboratories Corp. (Canada)
  • ExoAtlet (Luxembourg)
  • Lockheed Martin (United States)
  • Rex Bionics Pty Ltd. (United States)
  • Sarcos Corp. (United States)
  • Wearable Robotics Srl (Italy)

Report Scope & Segmentation

Report Coverage Details
Forecast Period 2021 to 2028
Forecast Period 2021 to 2028 CAGR 43.1 %
2028 Value Projection USD 8241.7 Million
Base Year 2020
Market Size in 2021 USD 671.2 Million
Historical Data for 2017 to 2019
No. of Pages 120
Segments covered Size,Technology, Application, Geography
Growth Drivers Increasing Adoption of Exoskeletons Devices in the Medical Industry to Fuel Growth
Powered Segment to Hold Dominant Share Backed by Its Ability to Cater to a Wide Range of Applications
Industrial Segment to Grow Significantly Backed by Surging Number of Users Globally
Pitfalls & Challenges Massive Investments and Non-coverage of Wearable Robotic Devices by Insurance Companies is Detaining Market Growth

COVID-19 Pandemic: Extension of Agreements between Companies to Aid Growth

The outbreak of the COVID-19 pandemic has disrupted the supply chain of almost every industry across the globe. Suppliers are realizing the fact that higher revenue generation is only possible with the help of in-person contact to finish the sales process. Besides, vendors are finding it difficult to conduct training programs and deliver products on time to clients owing to travel bans and lockdown measures. But, the pandemic has also created growth opportunities for companies as they are collaborating with clinics and industry partners. ReWalk Robotics Ltd., for instance, expanded its agreement with Harvard in May 2020. We are delivering elaborate research reports to help you find the best strategy to cope up with the current situation and take your wearable robotic exoskeleton business to a whole new level.

To get to know more about the short-term and long-term impact of COVID-19 on this market, please visit: https://www.fortunebusinessinsights.com/wearable-robotic-exoskeleton-market-104664

Segments-

Industrial Segment Held 41.3% Share in 2020: Fortune Business Insights™

By applications, the market is segregated into healthcare, industrial, defense & aerospace, and others. Out of these, the industrial segment earned 41.3% in terms of the wearable robotic exoskeleton market share in 2020. It is anticipated to exhibit steady growth in the near future because of the surging adoption of these devices by electronics manufacturers, automakers, and logistics & shipping firms globally because of their ability to improve the workforce.

Report Coverage-

Our in-depth research reports offer a comprehensive coverage of this industry, ensuring a deep and holistic understanding of the market. It also offers granular and actionable data. We strive to ensure that you receive the best strategies for increasing sales of your products. Our key mission is service orientation. We also conduct primary and secondary research to track the latest innovations, regulatory developments, and competitive landscape.

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Drivers & Restraints-

Increasing Prevalence of Inborn Physical Disabilities to Boost Growth

The medical industry is demanding wearable robotic exoskeleton devices on account of the increasing cases of vehicular accidents and higher prevalence of inborn physical disabilities. The National Spinal Cord Injury Statistical Centre (NSCIAC), for instance, stated that in the U.S., around 288,000 people were suffering from spinal cord injuries in 2018. Every year, nearly 17,700 new cases are detected in the country. Similarly, the Multiple Sclerosis Foundation declared that about 2.3 million people worldwide suffered from multiple sclerosis in 2018, while the U.S. had 1.0 million cases. However, these advanced devices require huge investments at the initial stage. This factor may hamper the wearable robotic exoskeleton market growth in the near future.

Regional Insights-

Surging Investments by Local Firms to Help North America Remain at the Forefront

Geographically, North America is expected to remain at the forefront throughout the forthcoming years because of the rising investments by local companies in the development of novel wearable robotic exoskeletons. The region procured USD 182.8 million in terms of revenue in 2020. The U.S. would majorly contribute to this growth because of the rising adoption of this technology in the military & defense sector. On the other hand, Asia Pacific is likely to exhibit the highest CAGR in the upcoming years stoked by the increasing awareness regarding the advantages of using these devices.  

Competitive Landscape-

Key Players Focus on Gaining Fast-track Approvals to Gain a Competitive Edge

The global market houses a large number of reputed international and domestic companies. Most of them are striving persistently to compete with their rivals by launching innovative products. A few others are trying to win fast-track approvals from regulatory bodies to market their products. Below are the two industry developments:

  • October 2020: CYBERDYNE Inc. bagged approval from the Taiwan Food and Drugs Administration (TFDA) for HAL for Medical Use Lower Limb Type. It is a device specially developed for inducing enhancement of the physical function of the wearer.
  • February 2020: Post-Acute Medical, LLC (PAM) acquired three EksoNR devices from Ekso Bionics. This would enable the former to broaden the availability of exoskeleton-assisted rehabilitation in its facilities.

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Major Table of Contents:

  • Introduction
    • Definition, By Segment
    • Research Approach
    • Sources
  • Executive Summary
  • Market Dynamics
    • Macro and Micro Economic Indicators
    • Drivers, Restraints, Opportunities and Trends
    • Impact of COVID-19
      • Short-term Impact
      • Long-term Impact
  • Competition Landscape
    • Business Strategies Adopted by Key Players
    • Consolidated SWOT Analysis of Key Players
    • PESTEL Analysis
    • Porter’s Five Force Analysis
    • Global Market Share Analysis and Matrix, 2020
  • Key Market Insights and Strategic Recommendations
  • Profiles of Key Players (Would be provided for 10 players only)
    • Overview
      • Key Management
      • Headquarters etc.
    • Offerings/Business Segments
    • Key Details (Key details are subjected to data availability in public domain and/or on paid databases)
      • Employee Size
      • Key Financials
        • Past and Current Revenue
        • Gross Margin
        • Geographical Share
        • Business Segment Share
    • Recent Developments
  • Primary Interview Responses

TOC Continued…!

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Have a Look at Related Research Insights:

Industrial Robots Market Size, Share & COVID-19 Impact Analysis, By Robot Type (Articulated, SCARA, Cylindrical, Cartesian/Linear, Parallel and Others), By Application (Pick and Place, Welding & Soldering, Material Handling, Assembling, Cutting & Processing, and Others), By Industry (Automotive, Electrical & Electronics, Healthcare & Pharmaceutical, Food & Beverages, Rubber & Plastic, Metals & Machinery, and Others), and Regional Forecast, 2021-2028

Logistics Robots Market Size, Share & COVID-19 Impact Analysis, By Type (Automated Guided Vehicles, Autonomous Mobile Robots, Robot Arms and Others), By Application (Palletizing & De-palletizing, Pick & Place, Transportation, and Others), By Industry (E-commerce, Healthcare, Retail, Food & Beverages, Automotive and Others) and Regional Forecast, 2021-2028

Autonomous Mobile Robots Market Size, Share & COVID-19 Impact Analysis, By Type (Goods-to-person Picking Robots, Self-driving Forklifts, Autonomous Inventory Robots, and Unmanned Aerial Vehicles), By Application (Sorting, Pick & Place, Tugging, Warehouse Fleet Management and Others), By End-User (Warehouse & Distribution Centers and Manufacturing) and Regional Forecast, 2021-2028

Smart Elevator Market Size, Share & COVID-19 Impact Analysis, By Setup (New Deployment, Modernization and Maintenance), By Installation (Low & Mid Rise and High Rise), By Carriage (Passenger and Freight), By Application (Residential, Commercial and Industrial) and Regional Forecast, 2020-2027

Waterjet Cutting Machine Market Size, Share & Industry Analysis, By Type (Micro Waterjet Cutting Machine & Robotics Waterjet Cutting Machine), By Technology (Pure & Abrasive), By Pressure Range (Less than 4200&4200 and above), By Pump Type (Direct Drive Pumps & Hydraulic Intensifier Pumps), By Industry (Aerospace & Defense, Automotive, Electronics, Energy & Power, Metal Fabrication, Rubber & Plastic and Others) and Regional Forecast, 2020-2027

About Us:

Fortune Business Insights™ delivers accurate data and innovative corporate analysis, helping organizations of all sizes make appropriate decisions. We tailor novel solutions for our clients, assisting them to address various challenges distinct to their businesses. Our aim is to empower them with holistic market intelligence, providing a granular overview of the market they are operating in.

Contact Us:

Fortune Business Insights™ Pvt. Ltd.

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Survey No. 36, Baner,

Pune-Bangalore Highway,

Pune – 411045, Maharashtra, India.

Phone:

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UK : +44 2071 939123

APAC : +91 744 740 1245

Read Press Release: https://www.fortunebusinessinsights.com/press-release/global-wearable-robotic-exoskeleton-market-10458

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Artificial Intelligence

Global Insurance Provider Selects 3CLogic to Streamline AI and Contact Center Capabilities with ServiceNow

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Multinational Insurance Broker to deploy 3CLogic’s solution with ServiceNow’s Financial Service Operations (FSO) platform to streamline customer experiences.
ROCKVILLE, Md., April 25, 2024 /PRNewswire/ — 3CLogic, the leading Conversational AI and Contact Center solution for ServiceNow®, today announced its selection by a global insurance provider to replace its existing contact center infrastructure as part of a larger CX transformation effort. The strategic decision is designed to complement the organization’s use of ServiviceNow’s Financial Services Operations (FSO) offering leveraged across a number of its existing product lines including Customer Warranty Claims, Roadside Assistance, and Home Warranties.

Serving millions of customers worldwide with innovative insurance and protective products, the organization required a solution that would enhance its recent investment in the ServiceNow platform as it works to transform its end-to-end customer service operations. The deployment will incorporate several of 3CLogic’s AI-powered capabilities purpose-built for ServiceNow, including Conversational AI, Speech Analytics, and AI Performance & Coaching, along with integrated call transcriptions, convenient 2-way SMS, and ServiceNow-centralized contact center reporting.
“We continue to see enterprises eager to complement their existing investment in digital platforms, such as ServiceNow, with contact center features purpose-built to extend the workflows and features they already have and use,” explains Matt Durkin, VP of Global Sales at 3CLogic. “It’s no secret that organizations are already juggling too many systems, often with overlapping capabilities, which impacts ROI and operational efficiency. We’re proud to offer an alternative approach that helps simplify the technology stack while optimizing the overall operational costs and outcomes.”
Recently named to Constellation Research’s 2024 Shortlist for Digital Customer Service and Support, 3CLogic has seen global adoption of its solution by leading enterprises in healthcare, manufacturing, travel, retail, higher education, finance, non-profits, and Managed Service Providers across five continents. As a ServiceNow-certified Technology and Build partner with offerings available for ServiceNow’s IT Service Management, Customer Workflows, HR Service Delivery, and Source-to-Pay solutions, the company will be unveiling its latest set of capabilities at ServiceNow’s annual Knowledge 2024 event this May in Las Vegas.
For more information, please contact [email protected].
About 3CLogic3CLogic transforms customer and employee experiences with its leading Cloud Contact Center and AI solutions purpose-built to enhance today’s leading CRM and Customer Service Management platforms. Globally available and leveraged by the world’s leading brands, its offerings empower enterprise organizations with innovative features such as intelligent self-service, generative and Conversational AI, agent automation & coaching, and AI-powered sentiment analytics – all designed to lower operational costs, maximize ROI, and optimize each interaction across IT Service Desks, Customer Support, Sales or HR Services teams. For more information, please visit www.3clogic.com.
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ScreenPoint Medical Leadership Transition: Pieter Kroese Confirmed as CEO

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Leading Breast AI Company, creator of industry-leading Transpara®, promotes from within for new CEO
NIJMEGEN, Netherlands, April 25, 2024 /PRNewswire/ — ScreenPoint Medical, today announced a significant transition in its leadership as Mark Koeniguer, the current CEO, steps down from his position. Mark served as CEO since 2022 and was instrumental in ScreenPoint’s commercial growth and success over the past 2 years.

 
 
The company’s Board of Directors has appointed Pieter Kroese as the new Chief Executive Officer effective April 25, 2024. Pieter takes the role after serving as COO of ScreenPoint for over five years. During that time, he has managed the transition of the company from an early startup to a thriving enterprise with hundreds of customers using ScreenPoint’s flagship Transpara software to support millions of scans a year.
“I am thrilled to lead ScreenPoint into its next phase of growth and innovation,” said Mr. Kroese. “I am deeply committed to building upon the strong foundation we have and continuing to work closely with our talented team to drive continued success. We are already expanding screening capacity and capability through proven reader support – we look forward to increasing our ability to support providers and women moving forward.”
Sir Michael Brady, Chairman of the Board at ScreenPoint Medical and a co-founder of the company, expressed enthusiasm about Pieter’s appointment, stating, “Pieter’s remarkable leadership qualities, coupled with his depth of knowledge of our product and industry, make him the perfect choice to lead ScreenPoint into the future. His strategic mindset and commitment to excellence align perfectly with our company mission of early breast cancer detection. Pieter has been an integral part of our growth to date and will provide seamless leadership through this transition into our next chapter for our customers, partners, and team.”
Author of “No Longer Radical” and over a hundred peer-reviewed publications on breast imaging, Dr. Rachel Brem is a Transpara user and ScreenPoint Board Member. Dr. Brem welcomed Mr. Kroese with the following: “Pieter has been an integral part of the ScreenPoint team for years. I am confident that his leadership will continue to deliver product excellence: earlier detection with outstanding reading workflow and improved patient outcomes. We continue to see these results from clinical sites all over the world, including many here in the United States. No other Breast AI solution has demonstrated the same results as Transpara, and I am confident that the team will continue to push on these frontiers under Pieter’s leadership.” 
The entire team at ScreenPoint extends its gratitude to Mark Koeniguer and wishes him every success in the future, while warmly welcoming Pieter Kroese into his new role as CEO.
About ScreenPoint Medical
ScreenPoint Medical translates cutting edge machine learning research into technology accessible by radiologists to improve screening workflow, decision confidence and breast cancer risk assessment. Transpara is trusted by radiologists globally because it has been developed by experts in machine learning and image analysis and updated with user feedback from world-renowned breast imagers.
See all the proof at: https://screenpoint-medical.com/evidence.
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Robotics Market to Surpass USD 126.96 Billion by 2031 | SkyQuest Technology

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WESTFORD, Mass., April 25, 2024 /PRNewswire/ — The growing need for automation, technological developments, and long-term cost reductions are driving a robust expansion in the worldwide robotics market. SkyQuest projects that Global Robotics Market size is poised to grow from USD 41.50 Billion in 2023 to USD 126.96 Billion by 2031, at a CAGR of 15% during the forecast period (2024-2031).

Download a detailed overview:
https://www.skyquestt.com/report/robotics-market
Browse in-depth TOC on the “Robotics Market”
Pages – 202Tables – 64Figures – 75Robotics Market Overview:
Report Coverage
Details
Market Revenue in 2023
$41.50 billion
Estimated Value by 2031
$126.96 billion
Growth Rate
Poised to grow at a CAGR of 15%
Forecast Period
2024–2031
Forecast Units
Value (USD Billion)
Report Coverage
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered
Application, End Users, and Region
Geographies Covered
North America, Europe, Asia Pacific, and the Rest of the world
Report Highlights
Collaborative Robotics
Key Market Opportunities
Prompting Several Industries to Adopt Automation Technologies
Key Market Drivers
Increasing Demand for Automation
Surge of Automation is Supporting Growth of Robotics Industry 
The industrial sector is generating high revenues for the global robotics market owing to extensive automation in manufacturing, which increases productivity and lowers overall production costs. Assembly line, painting, and welding robots have become essential, thereby propelling substantial market expansion in the automotive, electronics, and heavy duty sectors. Due to the increased usage of robots for non-manufacturing functions such as customer service, shipping, and healthcare, the services sector is expanding quickly. This rapid growth is being driven by technological improvements and the push for automation in services.
Surge in Advance Robotics is Bolstering Market Growth
The use of robotics in manufacturing processes is growing, and innovation in this field is happening quickly worldwide. By increasing productivity, efficiency, and precision, advanced robotics technologies—such as AI-driven automation systems and collaborative robots, or cobots—are transforming the manufacturing sector. The dominance of manufacturing in the worldwide robotics market is fuelled by the integration of robotics into manufacturing facilities, which helps businesses remain competitive in today’s dynamic market scenario.
Rising Interest in Service Robotics is Driving Demand for Robotics in Asia Pacific
Due to the strong demand for industrial and service robots in the region, Asia Pacific now leads the global robotics industry. China, Japan, and South Korea are among the nations that have made significant investments in the robotics sector recently. The Middle East and Africa are anticipated to register the fastest-growing rate for the global robotics market. The expansion is ascribed to the region’s growing adoption of automation technology, especially in the manufacturing and logistics industries.
Request Free Customization of this report:
https://www.skyquestt.com/speak-with-analyst/robotics-market
Drivers:
Increasing Demand for AutomationAdvancements in AI and Machine Learning TechnologiesRestraints:
High Initial InvestmentsLack of Skilled WorkforceProminent Players in Global Robotics Market:
FANUC America Corporation (US)Epson Robotics (Japan)Staubli International AG (Switzerland)YRG Inc. (US)Comau S.p.A. (Italy)Northrop Grumman Corporation (US)Honda Motor Co., Ltd. (Japan)Seiko Epson Corporation (Japan)Yamaha Motor Co., Ltd. (Japan)Adept Technology, Inc. (US)View report summary and Table of Contents (TOC):
https://www.skyquestt.com/report/robotics-market
Key Questions Answered in Global Robotics Market Report
How big is the global robotics market, and what compound annual growth rate (CAGR) is it anticipated to deliver between 2024 and 2031?Which industries are fuelling the need for automation and fostering the expansion of the robotics sector?What impact have recent technological advancements and innovations had on the direction of the robotics market?Which well-known companies in the robotics industry are also major players in the global robotics market?This report provides the following insights:
Analysis of key drivers (increasing demand for automation across industries, improved the overall efficiency, productivity of the processes, demand for automation), restraints (high initial investments, difficult for small and medium-sized enterprises to invest, robots, sensors, and other equipment required not delivered), opportunities (advancements in AI and machine learning technologies, new opportunities for the robotics market, perform complex tasks with high accuracy), and challenges (lack of skilled workforce, maintenance of these robotics systems) influencing the growth of robotics marketMarket Penetration: Comprehensive information on the product portfolios offered by the top players in the robotics marketProduct Development/Innovation: Detailed insights on the upcoming trends, R&D activities, and product launches in the robotics marketMarket Development: Comprehensive information on lucrative emerging regionsMarket Diversification: Exhaustive information about new products, growing geographies, and recent developments in the marketCompetitive Assessment: In-depth assessment of market segments, growth strategies, revenue analysis, and products of the leading market players.Related Reports:
Global Service Robotics Market
Global Soft Robotics Market
Global Warehouse Robotics Market
Global Cloud Robotics Market
Global Robotic Welding Market
About Us:
SkyQuest is an IP focused Research and Investment Bank and Accelerator of Technology and assets. We provide access to technologies, markets and finance across sectors viz. Life Sciences, CleanTech, AgriTech, NanoTech and Information & Communication Technology.
We work closely with innovators, inventors, innovation seekers, entrepreneurs, companies and investors alike in leveraging external sources of R&D. Moreover, we help them in optimizing the economic potential of their intellectual assets. Our experiences with innovation management and commercialization have expanded our reach across North America, Europe, ASEAN and Asia Pacific. 
Contact:Mr. Jagraj SinghSkyquest Technology1 Apache Way,Westford,Massachusetts 01886USA (+1) 351-333-4748Email: [email protected] Our Website: https://www.skyquestt.com/

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