Global Soft Robotics Market 2024

Global Soft Robotics Market 2024

Soft robots, which are comprised mainly of easily deformable materials like fluids and gels, offer structural and material compliance, making them suitable for specific applications such as food processing and pharmaceutical packaging. This research covers various soft robotics forms, including soft grippers, cobots, and exoskeletons, among others.

The human-machine interface and interaction segment of the market is projected to grow from USD 0.9 billion in 2023 to USD 5.0 billion by 2029, with a CAGR of 27.5% during the forecast period. Soft robots are highly compatible with human interactions due to their soft and easily deformable bodies, which minimize damage and load on humans and the environment. Their bendable, compressible, stretchable, and twistable properties offer enormous potential in future personalized applications. These properties enable them to adapt to curved and irregular surfaces, thereby overcoming the limitations of rigid robots.

The Asia-Pacific segment of the market is estimated to be worth USD 1.2 billion in 2023 and is expected to reach USD 6.8 billion by 2029, registering the highest growth rate CAGR of 28.7% during the forecast period. Japan's government, in collaboration with universities and companies, is developing a robotic surgery system that allows doctors to operate with more precision and accuracy while simultaneously monitoring MRI readings and data from other devices. Korea is also adapting robots for healthcare, as are many other countries in the region. China and India are expected to have the largest geriatric population pool globally, leading to robust growth in demand for orthopedic surgeries in these countries during the forecast period. Europe is the second-largest region of the soft robots market in 2023. The European region boasts some of the most important tech hubs in the world and is a significant driver and adopter of modern technology, including soft robotics.

This comprehensive industry report provides market estimates and forecasts, accompanied by a detailed examination of the application, and region aspects. It delivers a quantitative analysis of the market, empowering stakeholders to leverage existing market opportunities. Furthermore, the report identifies key segments for potential opportunities and strategies, drawing insights from market trends and the approaches of leading competitors.

The global baby bottle market has been extensively analyzed by categorizing it according to various sub-segments in order to provide accurate forecasts of industry size and assess trends within specific areas.

The global market for soft robotics can be segmented by application: human-machine interface and interaction, locomotion and exploration, manipulation, healthcare, rehabilitation and wearable robots. Human-machine interface and interaction held the highest share in the global soft robotics market. However, the manipulation segment is forecast to register the highest CAGR during the forecast period 2024 - 2030.

Soft robotics market is further segmented by region: North America, Europe, Asia-Pacific, MEA (Middle East and Africa), Latin America. Asia-Pacific held the largest share in the global soft robotics market, accounting for 53.1% of the market in 2023. Moreover, the region is anticipated to grow at the highest CAGR in the coming years.

The market research report covers the analysis of key stake holders of the global soft robotics market. Some of the leading players profiled in the report include ABB Ltd., Bioservo Technologies AB, Ekso Bionics Holdings Inc., Festo AG & Co. KG, Rewalk Robotics Ltd., Righthand Robotics Inc., Roam Robotics, Soft Robotics Inc., Yaskawa Electric Corporation, among others. In this report, key players and their strategies are thoroughly analyzed to understand the competitive outlook of the market.

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The market estimate for ease of analysis across scenarios in Excel format.

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Market Segments Covered in Global Soft Robotics Industry Analysis:

i.) Application

• Human-machine interface and interaction
• Locomotion and exploration
• Manipulation
• Healthcare
• Rehabilitation and wearable robots

ii.) Region

• North America
• Europe
• Asia-Pacific
• MEA (Middle East and Africa)
• Latin America