0

Soft Robotics Market Expected to Reach $3.41 Billion by 2027-Allied Market Research

 
2022
Soft Robotics Market

Report Code : A11096

quote The considerable investments in the healthcare sector primarily drive the soft robotics market growth. Besides, rapid automation of industries creates lucrative opportunities for the development of new soft robots; thereby, fueling the market growth. quote

Ruchal Humbare
Lead Analyst, Semiconductor and Electronics

Get 20% Free Customization In This Report
Follow us on Social Media:       
 

According to a new report published by Allied Market Research, titled, “Soft Robotics Market Technology, Application, and End User: Global Opportunity Analysis and Industry Forecast, 2020–2027,” the global soft robotics market size was valued at $573.8 million in 2019, and is projected to reach at $3.41 billion by 2027, growing at a CAGR of 30.7% from 2020 to 2027.

A soft robotics, which is sometimes known as biologically inspired robots, is an electronic device that offers extraordinary solutions such as smooth touches, manipulation and grasping of fragile objects, and safe interaction for humans. Soft robotics can perform complex tasks; thereby, offering cost-efficient flexible production. For instance, soft robotics installed in the healthcare sector is made of material similar to human soft tissues. Subsequently, each device used in medical industries is analyzed for engineering and clinical significance. Furthermore, soft robotics is widely used across packing and packaging, mining, surgery, laboratory research, and other industries. 

The surge in the innovation of next-generation healthcare technology is one of the key drivers for the growth of the soft robotics market. Moreover, the enhancement of resilient supply chains across logistic and food & beverage industries boosts the market growth. However, the high cost of soft robotics products in developing countries is a major hurdle for early adoption. Further, innovation in soft robotics for small and medium-sized companies is expected to provide lucrative opportunities for the global soft robotics industry during the forecast period.

The soft grippers segment was the highest contributor to the market in 2019. The soft gripper and exoskeleton segments collectively accounted for around 69.8% market share in 2019. Surge in artificial intelligence penetration fuels growth of the soft grippers segment; thereby, enhancing the global soft robotics market growth.

Emergence of COVID-19 has significantly impacted the global soft robotics industry. Delay caused for construction projects due to partial or complete lockdown in various regions of the world has significantly reduced demand for smart thermostats during the pandemic. However, it has created more demand from healthcare end users, owing to work from home policies implemented by governments of several countries. Hence, the food & beverage sector is expected to witness prominent growth post-pandemic for smart thermostats.

Region wise, Asia-Pacific holds a significant share in the global soft robotics market size. Asia-Pacific accommodates a major population of the globe. The adoption of soft grippers and cobots appliances in the food & beverage, healthcare, and logistics sectors is expected to propel the soft robotics industry in this region. Owing to technological advancements, appliances in food & beverage, such as warehousing, equipment innovation, and AGV technology, are increasingly becoming smart. This makes the production process more flexible. Hence, all such factors are anticipated to boost the market growth.

Key Findings Of The Study

  • In 2019, the soft grippers segment accounted for the maximum revenue and is projected to grow at a notable CAGR of 29.5% during the forecast period.
  • The soft grippers and exoskeleton segment together accounted for around 69.8% of the global soft robotics market share in 2019.
  • The software segment of the global soft robotics market is projected to growth at a CAGR of 33.4% during the forecast period.
  • Asia-Pacific region contributed major share in global soft robotics market, accounting for more than 43.8% share in 2019.

The key players profiled in the report include Bioservo technologies AB, Cyberdyne Inc., Ekso bionics Holdings, Inc., F&P Robotics AG, Festo AG, Rewalk Robotics Ltd., Righthand Robotics Inc., Roam Robotics, Soft Robotics Inc., and Yaskawa Electric Corporation. Market players have adopted various strategies such as product launch, collaboration & partnership, joint venture, and acquisition to expand their foothold in the global soft robotics market.

Need More Information

pr-det-talk Talk to David (Europe)

pr-det-talk Talk to Sona Padman (Americas)

5933 NE Win Sivers Drive #205,
Portland, OR 97220 United States

pr-det-phone Toll Free: +1-800-792-5285

pr-det-phone UK: +44-845-528-1300

pr-det-phone Hong Kong: +852-301-84916

pr-det-phone India (Pune): +91 2066346060

pr-det-phone Fax: +1(855) 550-5975

pr-det-phone help@alliedmarketresearch.com

 

For Media Inquiries, Please Contact

Allied Market Research
Contact Toll Free: +1-800-792-5285
Drop us an email at
media@alliedmarketresearch.com

Looking for Customization?

 Customization Request

Have a Question?

 Speak with Analyst

Any Confusion?

 Inquire Before Buying

Have a glance of the Report

  Request Free Sample
 
 

First time buyer?
Check offers and discount on this report
To get this report

Click Here
 
 

quote Soft Robotics Market by Type (Soft Grippers, Cobots, Inflated Robotics, and Exoskeleton), Component (Hardware and Software), and End User (Healthcare, Advanced Manufacturing, Food & Beverage, Logistics, and Others): Opportunity Analysis and Industry Forecast, 2020–2027 quote

View Report
 
 

Avenue: Entire Library membership of Allied Market Research Reports at your disposal

  • Avenue is an innovative subscription-based online report database.
  • Avail an online access to the entire library of syndicated reports on more than 2,000 niche industries and company profiles on more than 12,000 firms across 11 domains.
  • A cost-effective model tailored for entrepreneurs, investors, and students & researchers at universities.
  • Request customizations, suggest new reports, and avail analyst support as per your requirements.
  • Get an access to the library of reports at any time from any device and anywhere.

 
 

WHY ALLIED MARKET RESEARCH?

INFLALLIBLE METHODOLOGY

To ensure high-level data integrity, accurate analysis, and impeccable forecasts

ANALYST SUPPORT

For complete satisfaction

CUSTOMIZATION

On-demand customization of scope of the report to exactly meet your needs

TARGETED MARKET VIEW

Targeted market view to provide pertinent information and save time of readers

 

Featured Readings

 
rep-img

Published Date Mar 2024

Hairbrush Market

Download Sample
rep-img

Published Date Mar 2024

Debt Security Market

Download Sample
rep-img

Published Date Mar 2024

Wood Adhesives Market

Download Sample

Buy Full Version
"Soft Robotics Market"
Purchase Enquiry

Get fresh content delivered

Get insights on topics that are crucial for your business. Stay abreast of your interest areas.

Get Industry Data Alerts

Why Allied Market Research?

Infallible Methodology

To ensure high-level data integrity, accurate analysis, and impeccable forecasts

Analyst Support

For complete satisfaction

Customization

On-demand customization of the scope of the report to exactly meet your needs

TARGETED MARKET VIEW

Targeted market view to provide pertinent information and save the time of readers