Soft Robotics Market Size, Latest Updates And Forecast 2020 To 2027

 

Overview

According to Market Research Future, the soft robotics market has been segmented on the basis of type, application, and region.

Soft Robotics Market Trends 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 The Soft Robotics 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.

Global Soft Robotics Market   - Segments

Based on type, the Soft Robotics 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 soft robotics 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.

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Major Players 

Players leading the global Soft Robotics Market are FANUC Corporation (Japan), Universal Robots A/S (Denmark), Techman Robot (Taiwan), KUKA AG (Germany), ABB Ltd. (Switzerland), AUBO Robotics Inc. (US), Kawasaki (Japan), Yaskawa Electric Corporation (Japan), Rethink Robotics (Germany), RightHand Robotics Inc. (US), ReWalk Robotics Ltd (Israel), Soft Robotics Inc. (US), F&P Robotics AG (Switzerland), Ekso Bionics Holdings, Inc. (US), and KAWADA Robotics Corporation (Japan), among others.

Global Soft Robotics Market   - Regional Analysis

North America leads the global soft robotics market.  The market growth attributes to the vast uptake of these robotic technologies in the automotive, healthcare, and F&B sectors. Besides, the high concentration of market players and the easy availability of proficient technical expertise drive the region's soft robotics market share.

Also, vast investments to implement new technologies and discover new applications foster the regional market's growth. Besides, the increasing development and high adoption of automation in production units substantiate market demand.

Europe stands second in the global soft robotics market. A large number of industries in the region have implemented robotics in their operations. Additionally, the strong presence of auto manufacturers and the need for automated vehicle manufacturing processes drive the regional market growth. Increasing R&D activities and funding to develop robotics act as major tailwinds for the market growth in the region.

The Asia Pacific region also shows substantial growth in the global soft robotics market. Growing automation in manufacturing industries with increased throughput across warehouses and distribution centers boosts the region's market size.  Furthermore, the growing industrialization and production in the region drive the growth of the market.

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