What is Global Soft Robotics Market?
The Global Soft Robotics Market is a rapidly expanding sector that focuses on the development and application of robots that are constructed primarily from soft and flexible materials. This is a significant departure from traditional robotics, which are typically made from hard materials. Soft robotics is a field that is gaining traction due to its potential to create machines that can adapt and interact with their environment in more complex ways than their hard-bodied counterparts. The global market for soft robotics was valued at a substantial US$ 472.8 million in 2023 and is projected to skyrocket to an impressive US$ 11930 million by 2030. This represents a compound annual growth rate (CAGR) of 57.9% during the forecast period from 2024 to 2030.
Soft Gripper, Inflatable Robots, Exoskeletons in the Global Soft Robotics Market:
The Global Soft Robotics Market is characterized by a variety of innovative products such as Soft Grippers, Inflatable Robots, and Exoskeletons. Soft Grippers are designed to handle delicate objects that would be damaged by traditional hard grippers. They are often used in industries such as food processing and packaging where they can handle produce without causing damage. Inflatable Robots, on the other hand, are robots that can be inflated to perform their tasks and then deflated for easy storage and transport. They are particularly useful in search and rescue operations where they can be easily transported to disaster sites. Exoskeletons are wearable devices that can be used to augment human strength and endurance. They are being used in a variety of applications ranging from assisting people with mobility issues to enhancing the capabilities of soldiers on the battlefield.
Medical & Healthcare, Food, Logistics, 3C, Others in the Global Soft Robotics Market:
The Global Soft Robotics Market has found applications in a variety of sectors including Medical & Healthcare, Food, Logistics, 3C, and Others. In the Medical & Healthcare sector, soft robotics is being used to develop prosthetics that are more comfortable and adaptable than traditional hard prosthetics. In the Food industry, soft robotics is being used to handle delicate food items that would be damaged by traditional hard robots. In the Logistics sector, soft robots are being used to handle packages in warehouses and distribution centers. They are particularly useful in this context because they can adapt to handle packages of different shapes and sizes. In the 3C sector, which stands for Computers, Communications, and Consumer Electronics, soft robots are being used to assemble delicate electronic components.
Global Soft Robotics Market Outlook:
In terms of market outlook, the Global Soft Robotics Market is poised for significant growth. In 2023, the market was valued at US$ 472.8 million. However, it is projected to reach a staggering US$ 11930 million by 2030. This represents a compound annual growth rate (CAGR) of 57.9% during the forecast period from 2024 to 2030. The market is dominated by the world's top 5 soft robot manufacturers who account for 40% of the market share. Geographically, North America is the largest market, accounting for about 35% of the total market share. This is followed by Europe and Asia Pacific, which account for about 33% and 27% of the market share respectively.
| Report Metric | Details |
| Report Name | Soft Robotics Market |
| Accounted market size in 2023 | US$ 472.8 million |
| Forecasted market size in 2030 | US$ 11930 million |
| CAGR | 57.9% |
| Base Year | 2023 |
| Forecasted years | 2024 - 2030 |
| Segment by Type |
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| Segment by Application |
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| By Region |
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| By Company | Cyberdyne, Soft Robotics, Ekso Bionics Holdings, ReWalk Robotics, RightHand Robotics, Parker Hannifin, Beijing Soft Robot Tech Co.,Ltd, Myomo, Bionik Laboratories, Panasonic |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
