Overview

The Global Soft Robotics Market size is expected to grow from USD 300.50 million in 2018 to USD 2,323.58 Million by 2024, at a CAGR of 40.62%, during the forecast period. According to Market Research Future, the market for global soft robotics has been segmented on the basis of type, application, and region.

Soft robots are made using deformable matter such as fluids, gels, and elastomers such that they can adapt to curved and irregular surfaces and overcome the limitations of rigid robots. Soft robots are increasingly being deployed in places that require complicated and repetitive tasks to be performed with accuracy. Furthermore, the market players are adopting product launch as the key market strategy to increase their market share. For instance, In January 2019, Soft Robotics, Inc. launched an on-demand modular automation system—mGrip. This system allows users to build, validate, and install production-ready soft robotics systems for picking application.

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Based on type, the market has been categorized as soft grippers, co-robots, inflated robots, wearable robots, edible robots, and others. The wearable robot segment is estimated to be the largest during the review period; however, the co-robot segment is expected to register the highest CAGR during the forecast period. The soft gripper segment is also witnessing significant development. For instance, in 2019, a group of researchers in MIT Computer Science and Artificial Intelligence Laboratory created a soft robotic origami gripper that can lift objects upto 100 times its weight.

Based on application, the market has been segmented into medical and healthcare, food and beverages, logistics, entertainment & gaming, automotive, survey & exploration, and others. The medical & healthcare segment is expected to dominate the soft robotics market during the forecast period owing to the number of gynecology, urology, orthopedic-related disorders, coupled with improvements in medical facilities across the globe. In 2019, the FDA issued a clearance for the first soft robotic system— ReStore soft exo-suit—developed for stroke therapy by ReWalk Robotics, Ltd.

Key Players

The prominent players in the global soft robotics industry are Universal Robots A/S (Denmark), FANUC Corporation (Japan), Techman Robot ( Taiwan), ABB Ltd (Switzerland), KUKA AG (Germany), AUBO Robotics Inc. (US), Yaskawa Electric Corporation (Japan), Kawasaki (Japan), Rethink Robotics (Germany), ReWalk Robotics Ltd (Israel), RightHand Robotics Inc. (US), Soft Robotics Inc. (US), Ekso Bionics Holdings, Inc. (US), F&P Robotics AG (Switzerland), and KAWADA Robotics Corporation (Japan).

Segmentation

The global soft robotics market has been segmented based on type, application, and region.

Based on the type, the market has been segmented into soft grippers, co-robots, inflated robots, wearable robots, edible robots, and others.

Based on application, the market has been segmented into medical and healthcare, food and beverages, logistics, entertainment & gaming, automotive, survey & exploration, and others.

By region, the market has been segmented into North America, Europe, Asia-Pacific, and the rest of the world.

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Regional Analysis

The global soft robotics market has been segmented, by region, into North America, Europe, Asia-Pacific, and the rest of the world.

North America, followed by Europe, is expected to be the largest market in the forecast period owing to the high concentration of market players and easy availability of proficient technical expertise in the region. Also, the end users in the region are the early adopters of robotics technology, which is expected to further drive the growth of the soft robotics market. However, Asia-Pacific is expected to be the fastest growing regional market owing to the growing number of automated manufacturing industries with increased throughput.

Intended Audience

Technology investors and providers

Manufacturing Industries

Automotive industries

Soft robotics parts & component manufacturers

Research organizations

Soft robotics associations

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