USD 725.74 million
Soft Robotics Market Size, Share, Growth Analysis, By Type(Soft Grippers, Cobots, Inflated Robots, and Exoskeleton), By End Use(Healthcare, Advanced Manufacturing, Food & Beverages, Logistics), By Component(Hardware, Software), By Region - Industry Forecast 2025-2032
Report ID:
SQMIG45M2016 |
Region:
Global |
Published Date: April, 2024
Pages:
194
|Tables:
92
|Figures:
71
Soft Robotics Market Insights
Soft Robotics Market size was valued at USD 950.72 Million in 2023 and is poised to grow from USD 1245.44 Million in 2024 to USD 10801.75 Million by 2032, growing at a CAGR of 31% during the forecast period (2025-2032).
Soft robotics refers to a subbranch of the robotics industry where robots are made using compliant or flexible materials as compared to the conventional approach involving rigid materials. Growing demand for better human-robot interactions and the rising proliferation of robotics in different industry verticals are projected to boost sales of soft robotics over the coming years. Advancements in robotics technologies and material technologies are slated to be pivotal in deciding the future soft robotics market growth trajectory. Rapid urbanization and industrialization coupled with high adoption of automation in all walks of life will create a lucrative setting for soft robotics providers going forward. Soft robotics will especially find good scope of application in the healthcare industry over the coming years. On the contrary, limited durability and challenges in manufacturing are projected to be key constraints for soft robotics market development in the long run.
Market snapshot - (2024-2031)
Global Market Size
Largest Segment
Hardware
Fastest Growth
Software
Growth Rate
31% CAGR
Global Soft Robotics Market ($ Bn)
Country Share for Asia Pacific Region (%)
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Soft Robotics Market Segmental Analysis
The global soft robotics market is segmented based on type, component, end use, and region. In terms of type, the market is segmented into soft grippers, robots, inflated robots, and exoskeleton. In terms of component, the market is bifurcated into hardware and software. Based on end use, the market is divided into healthcare, advanced manufacturing, food & beverages, logistics, and others. Based on region, the market is segmented into Asia Pacific, North America, Latin America, Europe, and the Middle East and Africa.
Analysis by Type
Exoskeleton is projected to account for a major chunk of the global soft robotics market share across the forecast period. Exoskeleton robots are built to mimic human movements and motion and are being extensively used in rehabilitation centers to help people recover from trauma injuries. Moreover, exoskeletons find immense application potential in other industries such as manufacturing and defense.
Demand for soft gripper robots is projected to surge at a robust pace over the coming years. Increasing use of robots to handle fragile products such as products made from glass or food items is creating a high demand for soft gripper robots.
Analysis by Component
The hardware segment is expected to account for a major share of the global soft robotics market. Hardware components make up the frame and working mechanism of soft robots and they are made from flexible or compliant materials such as fiber or fabrics. High demand for novel soft robotics hardware allows this segment to maintain its dominance.
Demand for soft robotics software is estimated to increase at a rapid CAGR over the coming years. Growing integration of advanced technologies such as artificial intelligence and machine learning is creating new opportunities for soft robotics software developers and helping market growth.
Global Soft Robotics Market By Component
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Soft Robotics Market Regional Insights
Asia Pacific is expected to account for a substantial share of the global soft robotics market owing to rapid industrialization and growing adoption of automation in this region. China, Japan, Taiwan, and India are estimated to be the most lucrative markets in this region. A robust manufacturing sector in this region offers much scope for applying soft robotics in factory automation. Easy availability of robotic components and low costs of manufacturing also make this region an attractive one for soft robotics companies.
Deployment of soft robotics in North America is estimated to increase at a robust CAGR across the forecast period and beyond. Growing adoption of automation in almost all industry verticals and increasing use of soft robotics in healthcare industry are projected to help North America maintain its dominance in the global soft robotics market going forward. Canada and the United States are expected to spearhead soft robotics sales in North American region going forward.
Global Soft Robotics Market By Region
- Largest
- Fastest
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Soft Robotics Market Dynamics
Drivers
Innovation in Robotics
- Robotics has come a long way in recent years and more investments in R&D in this field has resulted in the growing popularity of innovative solutions such as soft robotics.
Demand for Better Human-robot Interaction
- Soft robotics can conform to and interact with human anatomy and the environment without causing harm or discomfort, and this improves human-robot interaction, which is essential industries such as hospitality and healthcare.
Restraints
Challenges in Manufacturing
- Manufacturing soft robotics on a scale is a huge challenge as the equipment required for it is too advanced and not commercially viable to use yet. This roadblock in manufacturing severely limits soft robotics market growth scope.
Limited Durability
- Soft robots are made from flexible materials that are not as durable as their rigid counterparts and this is what primarily reduces the durability and total lifespan of soft robots, which also hurts market development potential.
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Soft Robotics Market Competitive Landscape
Soft robotics providers should emphasize innovation and keep a close eye out for material technology advancements if they want to stand out from the competition. Companies can also try mimicking humans in some form to create innovative and novel soft robots. Soft robotics market players can also utilize collaborations and mergers to expand their market share and presence on a global level going forward.
Top Player’s Company Profiles
- Soft Robotics Inc.
- SynTouch LLC
- Festo AG & Co. KG
- Rethink Robotics GmbH
- Ekso Bionics Holdings Inc.
- BIONIK Laboratories Corp.
- Shadow Robot Company
- Aethon Inc.
- RightHand Robotics Inc.
- Barrett Technology LLC
- Universal Robots A/S
- Robert Bosch GmbH
- Yaskawa Electric Corporation
- KUKA AG
- Pneubotics Inc.
Recent Developments
- In August 2023, Soft Robotics Inc., a leader in the soft robotics industry, announced the launch of a new generation of grippers equipped with advanced tactile sensing capabilities. These grippers can delicately handle fragile objects with precision, making them ideal for applications in industries such as food packaging, e-commerce, and manufacturing.
- In April 2022, Shadow Robot Company introduced a breakthrough in soft robotic manipulation technology with the unveiling of its Dexterous Hand. This innovative robotic hand mimics the dexterity and flexibility of the human hand, enabling it to perform intricate tasks in diverse environments, including healthcare, logistics, and research.
Soft Robotics Key Market Trends
- Emphasis on Biomimicry: Soft robotics companies should focus on mimicking humans and human biology in their products to improve their application scope and make them more human-like. Companies can focus on utilizing biomaterials to enhance the biomimicking capabilities of their products.
Soft Robotics Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per Skyquest analysis, advancements in the robotics industry and growing adoption of automation in almost all walks of life are key factors promoting sales of soft robotics around the world. On the contrary, limited durability and manufacturing challenges are slated to hamper soft robotics demand outlook across the forecast period and beyond. Robust industrialization coupled with high adoption of automation is expected to allow the Asia Pacific region to account for a dominant share of the global soft robotics marketplace through 2031. Soft robotics market players should focus on increasing the use of biomaterials to mimic human biology in their products going forward.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 725.74 million |
| Market size value in 2031 | USD 8245.61 million |
| Growth Rate | 31% |
| Base year | 2023 |
| Forecast period | (2024-2031) |
| Forecast Unit (Value) | USD Million |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Soft Robotics Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Soft Robotics Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Soft Robotics Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Soft Robotics Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Soft Robotics Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Soft Robotics Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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