Market Overview
The global Soft Robotics Market Growth is expected to exhibit a solid 40.62% CAGR over the forecast period from 2019 to 2024, according to the latest research report from Market Research Future (MRFR). The global soft robotics Industry was valued at USD 300.5 million in 2018 and is expected to rise in valuation to USD 2.3 billion by 2024, according to the report. The global soft robotics Industry is studied in great detail in the latest report from Market Research Future (MRFR), which includes a detailed analysis of the market’s historical growth trajectory and present condition. Major trends operating in the global soft robotics Industry are examined in the report. Based on this information, accurate and reliable projections for the market’s likely growth trajectory over the forecast period till 2022 are presented in the report. Leading drivers and restraints operating on the global soft robotics Industry are examined in the report. The impact of these major drivers and restraints on the global soft robotics Industry is examined in detail in the report. Thus, the major factors enabling the market’s growth are enlisted and profiled in the report. Leading players operating in the global soft robotics Industry are also profiled in the research report. The competitive landscape of the global soft robotics market is thus examined in detail in the report. The report also examines the impact of the COVID-19 pandemic on the global Soft Robotics Industry .
Soft robotics is the field of producing robots made from compliant, deformable matter such as gels, elastomers, and fluids. The elastic properties of soft robotic implements allow them to adapt to various shapes and perform a broader range of tasks than conventional robots. Soft robotics is derived from studying the movements of living creatures, specifically how living creatures move and adapt to their surroundings. This makes soft robotic devices safer around humans, which has been a major driver for the global soft robotics Industry over the last few years. The growing demand for soft robotics in the manufacturing sector is likely to be a major driver for the global soft robotics market over the forecast period. Soft robotic devices are more compliant than traditional robotic devices, making them able to absorb shocks and impacts much better than conventional robots. This makes them safer in manufacturing applications, where unexpected impacts can cause injuries or worse to the human workers as well as the robotic devices. This is likely to be a major driver for the market over the forecast period.
The healthcare sector is also likely to be a major consumer of soft robotics over the forecast period. Healthcare applications of soft robotics include wearable robots that allow automation of bodily processes. This is particularly helpful for people who have lost the use of limbs, as robotic implements can replace limbs and provide comparable motion to the users. The growing adoption of robotics technology in the healthcare sector is likely to be a major driver for the global soft robotics market over the forecast period.
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Competitive Leaderboard:
Leading players in the global soft robotics Industry include Kawada Robotics Corporation, F&P Robotics AG, Ekso Bionics Holdings Inc., Soft Robotics Inc., RightHand Robotics Inc., ReWalk Robotics Ltd., Rethink Robotics, Kawasaki, Yaskawa Electric Corporation, AUBO Robotics Inc., Kuka AG, ABB Ltd., Techman Robot, Fanuc Corporation, and Universal Robots A/S.
Segmentation:
The global soft robotics market is segmented on the basis of type, application, and region.
By type, the global soft robotics market is segmented into soft grippers, co-robots, inflated robots, wearable robots, edible robots, and others.
By application, the global soft robotics market is segmented into medical and healthcare, food and beverages, logistics, entertainment and gaming, automotive, survey and exploration, and others.
Regional Analysis:
North America is likely to be the major regional market over the forecast period due to the strong presence of leading market players in the region and the easy availability of advanced technology and expertise in the robotics sector.
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