Soft Robotics Market | 2031 Insights | Recent Updates
The Soft Robotics Market is expected to register a CAGR of 36.2% from 2023 to 2031, with a market size expanding from US$ XX million in 2023 to US$ XX Million by 2031.
The report is segmented by Type (Soft Grippers, Co-robots, Inflated Robots, Exoskeletons, Others); End-user (Food Processing, Medical and Health Care, Logistics, Others). The global analysis is further broken-down at regional level and major countries. The report offers the value in USD for the above analysis and segments
Purpose of the ReportThe report Soft Robotics Market by The Insight Partners aims to describe the present landscape and future growth, top driving factors, challenges, and opportunities. This will provide insights to various business stakeholders, such as:
- Technology Providers/Manufacturers: To understand the evolving market dynamics and know the potential growth opportunities, enabling them to make informed strategic decisions.
- Investors: To conduct a comprehensive trend analysis regarding the market growth rate, market financial projections, and opportunities that exist across the value chain.
- Regulatory bodies: To regulate policies and police activities in the market with the aim of minimizing abuse, preserving investor trust and confidence, and upholding the integrity and stability of the market.
Soft Robotics Market Segmentation
Type- Soft Grippers
- Co-robots
- Inflated Robots
- Exoskeletons
- Others
- Food Processing
- Medical and Health Care
- Logistics
- Others
Strategic Insights
Soft Robotics Market Growth Drivers- Advancements in Material Science: The development of advanced soft materials, such as elastomers and flexible polymers, is a key driver for the soft robotics market. These materials enable robots to have greater flexibility, adaptability, and safety when interacting with humans and delicate objects. As material science continues to improve, soft robotics is becoming more viable across various industries, including healthcare, manufacturing, and agriculture, driving the market's growth.
- Increased Demand for Automation in Healthcare: The growing demand for automation in healthcare, particularly in surgical and rehabilitation applications, is fueling the adoption of soft robotics. Soft robotic systems are ideal for precise, minimally invasive procedures, and for assisting in patient rehabilitation with safe, gentle movements. Their ability to handle delicate tasks with human-like dexterity is boosting their use in medical devices and therapies.
- Integration with Artificial Intelligence (AI): A notable trend in the soft robotics market is the integration of artificial intelligence (AI) and machine learning algorithms. AI helps soft robots learn and adapt to different tasks, improving their performance and autonomy. By incorporating AI, soft robots are becoming smarter, more responsive, and capable of handling complex tasks, making them more effective across various applications.
- Increasing Use in Logistics and Warehousing: Soft robotics is becoming a growing trend in logistics and warehousing, especially for tasks that require flexibility, such as picking, sorting, and packaging. Soft robots can handle fragile and irregularly shaped objects with ease, which makes them ideal for the e-commerce industry. As demand for faster and more efficient supply chains rises, soft robotics is poised to play a key role in this sector.
- Growth in Collaborative Robots (Cobots): The rise of collaborative robots (cobots) presents a significant opportunity for the soft robotics market. Soft robots, with their ability to safely work alongside humans, are well-suited for tasks that require a high degree of human interaction. As industries like manufacturing and healthcare increasingly adopt cobots, there is a growing market for soft robotic systems that can enhance workplace efficiency and safety.
- Expansion in Elderly Care and Rehabilitation: With an aging global population, there is a significant opportunity for soft robotics in elderly care and rehabilitation. Soft robots can assist elderly individuals with mobility, perform physical therapy tasks, and aid in daily activities, providing support without causing harm. As demand for elder care increases, soft robotics can provide both medical and emotional benefits, opening new market segments in healthcare.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Soft Robotics Market, providing a holistic landscape.
- Expert Analysis: The report is compiled based on the in-depth understanding of industry experts and analysts.
- Up-to-date Information: The report assures business relevance due to its coverage of recent information and data trends.
- Customization Options: This report can be customized to cater to specific client requirements and suit the business strategies aptly.
The research report on the Soft Robotics Market can, therefore, help spearhead the trail of decoding and understanding the industry scenario and growth prospects. Although there can be a few valid concerns, the overall benefits of this report tend to outweigh the disadvantages.
REGIONAL FRAMEWORK
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- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
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to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
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to country scope.
Frequently Asked Questions
The Soft Robotics Market is estimated to witness a CAGR of 36.2% from 2023 to 2031
Growing demand for safer human-robot interaction in industrial settings and Expanding applications in food handling & packaging are the major factors driving the soft robotics market
Integration of AI and machine learning for better control is anticipated to play a significant role in the global soft robotics market in the coming years
The report can be delivered in PDF/PPT format; we can also share excel dataset based on the request
Some of the customization options available based on the request are an additional 3–5 company profiles and country-specific analysis of 3–5 countries of your choice. Customizations are to be requested/discussed before making final order confirmation# as our team would review the same and check the feasibility
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Soft Robotics Market - By Type
1.3.2 Soft Robotics Market - By End-user
1.3.3 Soft Robotics Market - By Region
1.3.3.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. SOFT ROBOTICS MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PORTER'S FIVE FORCES ANALYSIS
4.2.1 Bargaining Power of Buyers
4.2.1 Bargaining Power of Suppliers
4.2.1 Threat of Substitute
4.2.1 Threat of New Entrants
4.2.1 Competitive Rivalry
4.3. ECOSYSTEM ANALYSIS
4.4. EXPERT OPINIONS
5. SOFT ROBOTICS MARKET - KEY MARKET DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS AND RESTRAINTS
6. SOFT ROBOTICS MARKET - GLOBAL MARKET ANALYSIS
6.1. SOFT ROBOTICS - GLOBAL MARKET OVERVIEW
6.2. SOFT ROBOTICS - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. SOFT ROBOTICS MARKET - REVENUE AND FORECASTS TO 2028 - TYPE
7.1. OVERVIEW
7.2. TYPE MARKET FORECASTS AND ANALYSIS
7.3. SOFT GRIPPERS
7.3.1. Overview
7.3.2. Soft Grippers Market Forecast and Analysis
7.4. CO-ROBOTS
7.4.1. Overview
7.4.2. Co-robots Market Forecast and Analysis
7.5. INFLATED ROBOTS
7.5.1. Overview
7.5.2. Inflated Robots Market Forecast and Analysis
7.6. EXOSKELETONS
7.6.1. Overview
7.6.2. Exoskeletons Market Forecast and Analysis
7.7. OTHERS
7.7.1. Overview
7.7.2. Others Market Forecast and Analysis
8. SOFT ROBOTICS MARKET - REVENUE AND FORECASTS TO 2028 - END-USER
8.1. OVERVIEW
8.2. END-USER MARKET FORECASTS AND ANALYSIS
8.3. FOOD PROCESSING
8.3.1. Overview
8.3.2. Food Processing Market Forecast and Analysis
8.4. MEDICAL AND HEALTH CARE
8.4.1. Overview
8.4.2. Medical and Health Care Market Forecast and Analysis
8.5. LOGISTICS
8.5.1. Overview
8.5.2. Logistics Market Forecast and Analysis
8.6. OTHERS
8.6.1. Overview
8.6.2. Others Market Forecast and Analysis
9. SOFT ROBOTICS MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Soft Robotics Market Overview
9.1.2 North America Soft Robotics Market Forecasts and Analysis
9.1.3 North America Soft Robotics Market Forecasts and Analysis - By Type
9.1.4 North America Soft Robotics Market Forecasts and Analysis - By End-user
9.1.5 North America Soft Robotics Market Forecasts and Analysis - By Countries
9.1.5.1 United States Soft Robotics Market
9.1.5.1.1 United States Soft Robotics Market by Type
9.1.5.1.2 United States Soft Robotics Market by End-user
9.1.5.2 Canada Soft Robotics Market
9.1.5.2.1 Canada Soft Robotics Market by Type
9.1.5.2.2 Canada Soft Robotics Market by End-user
9.1.5.3 Mexico Soft Robotics Market
9.1.5.3.1 Mexico Soft Robotics Market by Type
9.1.5.3.2 Mexico Soft Robotics Market by End-user
9.2. EUROPE
9.2.1 Europe Soft Robotics Market Overview
9.2.2 Europe Soft Robotics Market Forecasts and Analysis
9.2.3 Europe Soft Robotics Market Forecasts and Analysis - By Type
9.2.4 Europe Soft Robotics Market Forecasts and Analysis - By End-user
9.2.5 Europe Soft Robotics Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Soft Robotics Market
9.2.5.1.1 Germany Soft Robotics Market by Type
9.2.5.1.2 Germany Soft Robotics Market by End-user
9.2.5.2 France Soft Robotics Market
9.2.5.2.1 France Soft Robotics Market by Type
9.2.5.2.2 France Soft Robotics Market by End-user
9.2.5.3 Italy Soft Robotics Market
9.2.5.3.1 Italy Soft Robotics Market by Type
9.2.5.3.2 Italy Soft Robotics Market by End-user
9.2.5.4 United Kingdom Soft Robotics Market
9.2.5.4.1 United Kingdom Soft Robotics Market by Type
9.2.5.4.2 United Kingdom Soft Robotics Market by End-user
9.2.5.5 Russia Soft Robotics Market
9.2.5.5.1 Russia Soft Robotics Market by Type
9.2.5.5.2 Russia Soft Robotics Market by End-user
9.2.5.6 Rest of Europe Soft Robotics Market
9.2.5.6.1 Rest of Europe Soft Robotics Market by Type
9.2.5.6.2 Rest of Europe Soft Robotics Market by End-user
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Soft Robotics Market Overview
9.3.2 Asia-Pacific Soft Robotics Market Forecasts and Analysis
9.3.3 Asia-Pacific Soft Robotics Market Forecasts and Analysis - By Type
9.3.4 Asia-Pacific Soft Robotics Market Forecasts and Analysis - By End-user
9.3.5 Asia-Pacific Soft Robotics Market Forecasts and Analysis - By Countries
9.3.5.1 Australia Soft Robotics Market
9.3.5.1.1 Australia Soft Robotics Market by Type
9.3.5.1.2 Australia Soft Robotics Market by End-user
9.3.5.2 China Soft Robotics Market
9.3.5.2.1 China Soft Robotics Market by Type
9.3.5.2.2 China Soft Robotics Market by End-user
9.3.5.3 India Soft Robotics Market
9.3.5.3.1 India Soft Robotics Market by Type
9.3.5.3.2 India Soft Robotics Market by End-user
9.3.5.4 Japan Soft Robotics Market
9.3.5.4.1 Japan Soft Robotics Market by Type
9.3.5.4.2 Japan Soft Robotics Market by End-user
9.3.5.5 South Korea Soft Robotics Market
9.3.5.5.1 South Korea Soft Robotics Market by Type
9.3.5.5.2 South Korea Soft Robotics Market by End-user
9.3.5.6 Rest of Asia-Pacific Soft Robotics Market
9.3.5.6.1 Rest of Asia-Pacific Soft Robotics Market by Type
9.3.5.6.2 Rest of Asia-Pacific Soft Robotics Market by End-user
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Soft Robotics Market Overview
9.4.2 Middle East and Africa Soft Robotics Market Forecasts and Analysis
9.4.3 Middle East and Africa Soft Robotics Market Forecasts and Analysis - By Type
9.4.4 Middle East and Africa Soft Robotics Market Forecasts and Analysis - By End-user
9.4.5 Middle East and Africa Soft Robotics Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa Soft Robotics Market
9.4.5.1.1 South Africa Soft Robotics Market by Type
9.4.5.1.2 South Africa Soft Robotics Market by End-user
9.4.5.2 Saudi Arabia Soft Robotics Market
9.4.5.2.1 Saudi Arabia Soft Robotics Market by Type
9.4.5.2.2 Saudi Arabia Soft Robotics Market by End-user
9.4.5.3 U.A.E Soft Robotics Market
9.4.5.3.1 U.A.E Soft Robotics Market by Type
9.4.5.3.2 U.A.E Soft Robotics Market by End-user
9.4.5.4 Rest of Middle East and Africa Soft Robotics Market
9.4.5.4.1 Rest of Middle East and Africa Soft Robotics Market by Type
9.4.5.4.2 Rest of Middle East and Africa Soft Robotics Market by End-user
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Soft Robotics Market Overview
9.5.2 South and Central America Soft Robotics Market Forecasts and Analysis
9.5.3 South and Central America Soft Robotics Market Forecasts and Analysis - By Type
9.5.4 South and Central America Soft Robotics Market Forecasts and Analysis - By End-user
9.5.5 South and Central America Soft Robotics Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil Soft Robotics Market
9.5.5.1.1 Brazil Soft Robotics Market by Type
9.5.5.1.2 Brazil Soft Robotics Market by End-user
9.5.5.2 Argentina Soft Robotics Market
9.5.5.2.1 Argentina Soft Robotics Market by Type
9.5.5.2.2 Argentina Soft Robotics Market by End-user
9.5.5.3 Rest of South and Central America Soft Robotics Market
9.5.5.3.1 Rest of South and Central America Soft Robotics Market by Type
9.5.5.3.2 Rest of South and Central America Soft Robotics Market by End-user
10. INDUSTRY LANDSCAPE
10.1. MERGERS AND ACQUISITIONS
10.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
10.3. NEW PRODUCT LAUNCHES
10.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
11. SOFT ROBOTICS MARKET, KEY COMPANY PROFILES
11.1. ABB
11.1.1. Key Facts
11.1.2. Business Description
11.1.3. Products and Services
11.1.4. Financial Overview
11.1.5. SWOT Analysis
11.1.6. Key Developments
11.2. UNIVERSAL ROBOTS
11.2.1. Key Facts
11.2.2. Business Description
11.2.3. Products and Services
11.2.4. Financial Overview
11.2.5. SWOT Analysis
11.2.6. Key Developments
11.3. CYBERDYNE INC.
11.3.1. Key Facts
11.3.2. Business Description
11.3.3. Products and Services
11.3.4. Financial Overview
11.3.5. SWOT Analysis
11.3.6. Key Developments
11.4. EKSO BIONICS.
11.4.1. Key Facts
11.4.2. Business Description
11.4.3. Products and Services
11.4.4. Financial Overview
11.4.5. SWOT Analysis
11.4.6. Key Developments
11.5. KUKA AG
11.5.1. Key Facts
11.5.2. Business Description
11.5.3. Products and Services
11.5.4. Financial Overview
11.5.5. SWOT Analysis
11.5.6. Key Developments
11.6. RIGHTHAND ROBOTICS INC.
11.6.1. Key Facts
11.6.2. Business Description
11.6.3. Products and Services
11.6.4. Financial Overview
11.6.5. SWOT Analysis
11.6.6. Key Developments
11.7. REWALK ROBOTICS LTD.
11.7.1. Key Facts
11.7.2. Business Description
11.7.3. Products and Services
11.7.4. Financial Overview
11.7.5. SWOT Analysis
11.7.6. Key Developments
11.8. FANUC
11.8.1. Key Facts
11.8.2. Business Description
11.8.3. Products and Services
11.8.4. Financial Overview
11.8.5. SWOT Analysis
11.8.6. Key Developments
11.9. SOFT ROBOTICS INC.
11.9.1. Key Facts
11.9.2. Business Description
11.9.3. Products and Services
11.9.4. Financial Overview
11.9.5. SWOT Analysis
11.9.6. Key Developments
11.10. YASKAWA ELECTRIC CORPORATION
11.10.1. Key Facts
11.10.2. Business Description
11.10.3. Products and Services
11.10.4. Financial Overview
11.10.5. SWOT Analysis
11.10.6. Key Developments
12. APPENDIX
12.1. ABOUT THE INSIGHT PARTNERS
12.2. GLOSSARY OF TERMS
1. ABB
2. Universal Robots
3. Cyberdyne Inc.
4. Ekso Bionics.
5. KUKA AG
6. RightHand Robotics Inc.
7. ReWalk Robotics Ltd.
8. FANUC
9. Soft Robotics Inc.
10. Yaskawa Electric Corporation
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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