Soft Robotics Market Size and Overview
The soft robotics market is garnering substantial traction. The market growth attributes to the rising adoption of elastically soft and versatile robots across end-use verticals. Rising research and development in the robotics is a major driving force behind the growth of the market. Moreover, the spurring rise in the industrial sector and automation in the healthcare and food beverages industry act as key growth drivers.
In recent years, soft robotics has emerged as the solution for flexibility and adaptability that was not possible previously with rigid robots. Besides, advancements of 3D printing manifested in soft robotics as 4D printing in response to the time-dependent printed mechanism to heat, electricity, magnetism, and pneumatic pressure foster the soft robotics market size.
The demand for soft robotics is expected to rise multi-folds as organizations increasingly adopt these techniques for rapid operation processes. In this regard, Market Research Future (MRFR) asserts that the global Soft robotics market is estimated to witness exponential revenue growth by 2027, growing at an impressive CAGR during the assessment period (2020-2027).
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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 FB 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 RD 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.
Soft Robotics Market Segments
The soft robotics market analysis is segmented into types, applications, and regions. The type segment is sub-segmented into soft grippers, co-robots, inflated robots, wearable robots, edible robots, and others. Among these, the wearable robot segment accounts for the largest market share, witnessing wide adoption in healthcare and packaging industries to automate processes. On the other hand, the co-robot segment grows at the highest CAGR.
The application segment is sub-segmented into medical healthcare, food beverages, logistics, entertainment gaming, automotive, survey exploration, and others. Among these, the medical healthcare segment accounts for the largest market share due to the rise in gynecology, urology, orthopedic-related disorders, and improvement in medical facilities. The region segment is sub-segmented into Asia Pacific, Americas, Europe, and rest-of-the-world.
Global Soft Robotics Market Competitive Landscape
Highly competitive, the soft robotics market appears fragmented, with several well-established players forming a competitive landscape. Key players incorporate strategic approaches, such as mergers acquisitions, collaborations, expansion, and product/ technology launch, to gain a substantially larger market share. They also make substantial investments in new product developments and geographical expansion.
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Soft Robotics Market Key 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), FP Robotics AG (Switzerland), Ekso Bionics Holdings, Inc. (US), and KAWADA Robotics Corporation (Japan), among others.
Industry/ Innovation/ Related News
May 22, 2021 --- Researchers at the Materials Science and Engineering Department, University of Texas, announced the development of a new method to program thin sheets that can autonomously turn into 3D structures. The research team's goal was to create synthetic materials that can mimic how living organisms expand and contract. This new printing technique can automatically transform into 3D shapes, paving the way for new applications in soft robotics and other technologies.