Soft Robotic Market Global Scenario, Market Size, Outlook, Trend, and Forecast, 2019 – 2028

The global soft robotic market was valued at US$ 576.8 million in 2019 and is forecasted to reach US$ 5,681.3 million in 2028 which is projected to reach a CAGR of 30.1% during the forecast period from 2021 – 2028.
Soft Robotic is a subdivision of robotics which is still in progressive stage; however, it aims to offer benefits over rigid structure robots. Soft robotics market is enduring a steepest demand in various industries and businesses owing to its ease in performing the tasks or operations, ensuring consistent and efficient working of various industries. Artificial Intelligence (AI) and machine learning usage in the robotics is probable to alleviate the market growth.

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Aspects driving the growth of soft robotics market comprises need for safety between the end- user industries and rising need for automation in such industries. Demands for soft robotics in healthcare and medical sectors have been increasing owing to its flexibility to inherit with the tissues and aids in building functional body parts imitating human motion. Moreover, increasing automation in manufacturing, logistics or retail sectors presents auspicious propelling opportunities to the market. Surgical procedure involving minimal puncturing surgery, or locations previously unapproachable to surgeons enables lucrative prospect by the usage of soft robotics over traditional surgery.
Exoskeleton robot portrays as an auspicious development of technology aids manufacturing workforces from neck injuries, shoulder and spinal trouble due to repetitive heavy lifting. Robotic surgery aids in the treatment of open and laparoscopic surgeries which was limited earlier owing to complicated tradition surgery procedures.
However, investment return of soft robotics market is predicted as a chief curb for the global market thus impede the market growth during the forecasted period: 2021 – 2028. Acquisition cost for market products and its related services is higher which would restrain startups or small industries to accomplish the advantages of the market and augment their efficacy and efficiency during the forecast period. Various government across the globe started funding for the research and development activities towards robotics and automation industries.
Geographically, North America surpassed for the highest revenue share leading to surplus health- related cases, enhanced healthcare services and R&D activities across the region. Asia- Pacific region projects for the flourishing expansion for soft robotics market owing to wide automotive & healthcare industries and widespread adoption of local production with robotics in the market. European region also narrates for revenue share having higher dispensable income in the province. In addition, Middle East & Africa and Latin America assumes for the minimal share due to minimal infrastructure facilities in the region.

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Prominent competitor inducing the Soft Robotics Market include, among others
• Bioservo Technologies AB
• ABB Limited
• Fanuc Corporation
• Rewalk Robotics Limited
• Yaskawa Electric Corporation
• Roam Robotics
• Cyberdyne Inc.
• Gesto AG
• F&P Robotics AG

Soft Robotics Market Scope and Segmentation:
By Type
• Soft Grippers
• Inflated Robots
• Edible Robots
• Wearable Robots
• Cobots
• Others
By End-user
• Food & Beverages
• Logistics
• Entertainment & Gaming
• Survey & Exploration
• Automotive
• Medical & Healthcare
• Others
By Components
• Hardware
• Software

By Region
• North America
• Europe
• Asia Pacific
• Rest of World
o Middle East & Africa
o Latin America

Contact:
Rakesh K Singh
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Patna Office (Asia):
K-129, PC Colony, Hanuman Nagar, Kankarbagh, Patna,
PIN - 800020
Tel: +1-339-368-6383/ +91-9665120699

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