Market Research Report
Global Soft Robotics Market Forecast 2021-2028
|Global Soft Robotics Market Forecast 2021-2028|
Published: October 11, 2021
Content info: 205 Pages
Delivery time: 2-3 business days
The global soft robotics market is estimated to register a CAGR of 27.80% during the forecast period, 2021-2028. The automated food & beverage industry, fast-paced industrial automation, need for efficiency in logistics, and technology adoption in healthcare drive market growth.
Soft robotics is a specific robotics subfield that entails manufacturing robots from highly compliant materials similar to those in living organisms. It enables increased adaptability and flexibility for accomplishing tasks, and enhanced safety when working alongside humans.
Logistics robots automate the process of goods storage and movement, making their way through the supply chain. Also, they are often used in storage facilities and warehouses to organize and transport products. This process is called intralogistics. In addition, they offer huge levels of uptime over manual labor, leading to major productivity gains and profitability.
On the other hand, autonomous robots bring innovations in logistics management and deliver substantial value. They improve the accuracy and speed of routine operations in manufacturing and warehousing, minimize the risk of injuries, and provide optimal services. Thus, the need for efficiency and agility in logistics is one of the significant growth drivers of the global soft robotics market. However, the costs associated and hindrance in deployment due to technical complexities hamper the market growth.
The global soft robotics market growth evaluation includes the analysis of North America, Europe, Asia-Pacific, and Rest of World. Asia-Pacific is set to garner the highest revenue share by 2028, given the fast-paced industrialization and modernization.
The market is a fairly contested space, comprising several companies ranging from big corporations to mid-sized domesticated manufacturers. Also, strategic decisions by companies like collaborations, investments, and product launches contribute to the competitive rivalry in the market, which is estimated to be high throughout the forecast period.
F&P Personal Robotics, Fanuc Corporation, Ekso Bionics Holdings Inc, Soft Robotics Inc, Cyberdyne Inc, etc., are among the key companies in the market.