The global exoskeleton market size is estimated to be USD 0.7 billion in 2023 and is projected to reach USD 3.7 billion by 2028, at a CAGR of 38.6%. The industry for exoskeletons has expanded quickly in recent years and doesn't appear to be slowing down. Exoskeletons are accessories that can be worn to improve one's physical capabilities. They have a number of uses in fields like healthcare, the military, construction, and manufacturing and can be used to increase strength, endurance, and mobility.

A growing elderly population is one of the main factors boosting the exoskeleton industry. Age-related changes in mobility or strength may make it more difficult for persons to carry out everyday tasks or job. Exoskeletons can enhance the quality of life and assist seniors preserve their independence. Exoskeletons are also becoming more and more in demand in the healthcare sector for use in physical therapy and rehabilitation.

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Another factor contributing to the growth of the exoskeleton market is the rise of Industry 4.0. The fourth industrial revolution involves the integration of digital technologies, including robotics and automation, into manufacturing processes. Exoskeletons can enhance the physical abilities of workers and reduce the risk of injury, improving overall productivity and safety.

Overall, the exoskeleton market is poised for significant growth in the coming years. As technology continues to advance and more applications for exoskeletons are discovered, we can expect to see even greater adoption of this innovative technology.

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