Market Research Report
Asia-pacific Soft Robotics Market Forecast 2021-2028
|Asia-pacific Soft Robotics Market Forecast 2021-2028|
Published: October 11, 2021
Content info: 158 Pages
Delivery time: 2-3 business days
The Asia-Pacific soft robotics market is expected to register a CAGR of 27.95% during the forecast period, 2021-2028. The rising deployment of collaborative robots in the healthcare, automotive, and electronics sectors to increase productivity is lucrative to market growth.
Thailand, Indonesia, Japan, China, Australia & New Zealand, South Korea, India, and Rest of Asia-Pacific are evaluated for the Asia-Pacific soft robotics market growth assessment. In South Korea, the industrial sector contributes consistently to the GDP. Its subsectors include electricity, construction, water & gas, mining, and manufacturing. Also, it is one of the largest warehouse robotics markets worldwide. Additionally, it has doubled the number of industrial robots in the past five years.
As per the International Federation of Robotics, there are over 600 installed industrial robots for every 10,000 employees in the manufacturing industry. At present, robots are also implemented in small-to-medium-sized companies (SMEs) apart from large & medium-sized enterprises. This is accredited to their cost-effectiveness and user compatibility.
In Australia, e-commerce is a thriving sector. Especially with COVID-19, e-commerce sales have surged from 7.1% to 11%. Also, companies are increasingly investing in advancements to enhance logistics processes. For instance, in July 2020, Amazon commenced the construction of a futuristic mega warehouse in Sydney.
In countries like Thailand, the manufacturing sector is a key industry. There is a growing demand for Automation & Robotics since service providers and manufacturers opt for automation solutions to achieve optimal production efficiencies. As a result, many are procuring collaborative robots (Cobots). These are designed to work alongside humans, given their flexibility and safety.
Some of the prominent firms in the market include: Ekso Bionics Holdings Inc, QB Robotics, Cyberdyne Inc, F&P Personal Robotics, Fanuc Corporation, etc.