London, United Kingdom, May 03, 2023 (GLOBE NEWSWIRE) -- According to a comprehensive research report by Market Research Future (MRFR), “Soft Robotics Market Research Report: By Type, by Application, by Region - Forecast till 2030, the market is anticipated to acquire a valuation of approximately USD 3.75 Billion by the end of 2030. The reports further predict the market to flourish at a robust CAGR of over 30.70% during the assessment timeframe.
Soft Robotics Market Insights:
In recent years, soft robotics has emerged as the solution for flexibility and adaptability that was not possible previously with rigid robots. Rising research and development in robotics is a major driving force behind the significant increase the market is currently witnessing. Moreover, the spurring rise in the industrial sector and automation in the healthcare and food & beverages industries are key growth drivers.
Besides, advancements in 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-fold as organizations increasingly adopt these techniques for rapid operation processes.
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),
- F&P Robotics AG (Switzerland),
- Ekso Bionics Holdings, Inc. (US),
- KAWADA Robotics Corporation (Japan),
among others.
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Report Scope:
| Report Metric | Details |
| Revenue forecast in 2030 | USD 3.75 billion |
| Growth Rate | CAGR of 30.70% from 2022 to 2030 |
| Base Year | 2021 |
| Study Period | 2022-2030 |
| Key Market Opportunities | The growing number of automated manufacturing industries with increased throughput across warehouses and distribution centers |
| Key Market Drivers | Rising research and development in the robotics industry. |
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Industry Trends
There have been significant researches in the materials science and engineering field. The most significant among them is the development of a new method to program thin sheets that can autonomously turn into 3D structures. The research aimed to create synthetic materials that 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.
With the growing adoption of robotics in the healthcare sector, the market is experiencing significant gains. There are major transformations expected in terms of the availability and functioning of robots that are not restricted to industrial shop floors. The soft robotics industry is undergoing a significant transformation, witnessing a vast demand in various industry verticals and departments.
Implementing robots in training to suit the workings of various departments and industry verticals will enhance operations and ensure reliable and efficient working. Some researchers are concentrating on developing the next generation of soft robots, able to detect when they are damaged and take necessary actions to temporarily repair themselves.
Market Segmentation
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.
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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 regional market growth. Increasing R&D activities and funding to develop robotics are major tailwinds for 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.
Competitive Landscape
The highly competitive soft robotics market appears fragmented, with the presence of many well-established players. Key players incorporate strategic approaches, such as mergers & acquisitions, collaborations, expansion, and product/ technology launches, to gain a substantially larger market share. They also make substantial investments in new product developments and geographical expansion.
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For instance, on Jan. 19, 2023, Soft Robotics, a startup, announced that it is harnessing the power of NVIDIA Isaac Sim to help close the gap in robotic gripping techniques for the food packaging industry. Improving robotic gripping can enhance the picking and placement of foods for packaging. NVIDIA Isaac Sim's synthetic data can boost food processing automation leading to improved safety and increased production.
Securely gripping and transferring fast-moving items on conveyor belts holds vast promise for businesses. Most food packaging and processing companies use Soft Robotics' mGripAI system that combines soft gripping with 3D vision and AI to grip delicate foods such as proteins, produce, and bakery items without damaging them.
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