Global Soft Robotics Market

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 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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FAQs

soft robotics market size was valued at USD 725.74 million in 2022 and is poised to grow from USD 950.72 million in 2023 to USD 8245.61 million by 2031, growing at a CAGR of 31% in the forecast period (2024-2031).

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 level going forward. '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.'

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.

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.

Asia Pacific is expected to account for a substantial share of the 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.

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Global Soft Robotics Market

Report ID: SQMIG45M2016

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