The global soft robotic market was valued at US$ 576.8 million in 2019 and is forecasted to reach US$ 5,681.3 million in 2028 which is projected to reach a CAGR of 30.1% during the forecast period from 2021 – 2028. Soft robotic is termed as a branch of robotics which deals in construction of robots using compliant materials such as elastomers, hydrogels, fluids and gasses among others which permits to adapt crave shape leading to perform range of tasks and sustain the environmental conditions. Such robots can be used for multi-functional systems and can be reprogrammed. Soft robotics can be useful in marking prosthetic such as limbs or extremities or in automation or food & beverages industries.
Demand for soft robotics is experiencing particularized demand in numerous industry such as medical, automation and food & beverages. The usage of such robotics across the several industries works on the concept of AI and machine learning which can be programmed via a software to work for the defined purpose thus rendering the market growth worldwide. Moreover, surging demand for soft robotics in medical and healthcare sectors augments a prosperous change in the market owing to its advantage in meeting inherently with the human tissues and other living organisms. Surgery procedures with minimal puncturing provides huge opportunity for soft robotics over traditional surgery. Soft robotics also helps building fully-functionality body parts which mimics the human motion. This is achieved by the use of high flexible materials like thermoplastic polyurethane. In addition, surge in automation along with human safety measures in the manufacturing plants or logistics and retail industries augments in boosting the soft robotics market. Exoskeletons acts as a promising advancement in technology which helps as a shield for manufacturing workers leading to neck injuries, back and shoulder pain. High initial cost in the development of soft robotics and limited accessibility restrains the market growth.
Global Soft Robotics Market is segmented by type, end- user, components and region. By type it bifurcates into soft grippers, inflated robots, edible robots, wearable robots, cobots and others. Based on end- user, it is categorised into food & beverages, logistics, entertainment & gaming, survey & exploration, automotive, medical & healthcare and others. By components, it bifurcates into hardware and software. Based on regional insights, the market bifurcates into North America, Asia- Pacific, Europe, Rest of the World (Latina America and Middle East & Africa).
North America outshone highest share in the global soft robotics market owing to numerous cases of health-related issues, amended healthcare facilities including minimally invasive procedure in surgery and R&D activities in the region.
Asia-Pacific region accounts for wildest growth for soft robotics owing to mass acceptance of technology with local production, automotive & healthcare industry in the countries such as South Korea, China, Japan in the market.
Europe also accounts for the market share owing to improves per capita income in the countries like UK, Germany, Italy and France. However, region such as Latin America and Middle East & Africa expects for least share owing to lower per capita income and minimal infrastructure in the regions.
Prominent players associated in the global soft robotics market includes Bioservo Technologies AB, ABB Limited, Fanuc Corporation, Rewalk Robotics Limited, Yaskawa Electric Corporation, Roam Robotics, Cyberdyne Inc. and Gesto AG among others.
Segmentation and Scope of the Global Soft Robotics Market
Global soft robotics market is segmented by type, end- user, components and region.
Prominent players in the Global Soft Robotics Market among others includes