Global Soft Robotics Market Growth, Trends, Impact, and Forecast 2021-2026: Medical and Surgical Applications Record Highest Growth
DUBLIN, October 1, 2021 / PRNewswire / – The report “Software Robotics Market – Growth, Trends, COVID-19 Impact and Forecast (2021 – 2026)” has been added to ResearchAndMarkets.com offer.
The soft robotics market has been valued at $ 1,049.05 million in 2020 and should reach $ 6,369.04 million by 2026, registering a CAGR of 35.17% over the forecast period (2021 – 2026).
Although soft robotics is still in its early stages, with the variety of advantages offered by soft robots over traditional robots, the penetration of soft robots is expected to increase significantly during the forecast period. In addition, the global COVID-19 pandemic has intensified the demand for automation to alleviate workforce issues and develop operational and food safety in factory environments, which has led to the growth of the market. .
Key Market Trends:
- The factors driving the development of the soft robotics market include the increasing demand for security in the various industries of end users and the growing need for automation in industries such as food processing, e-commerce, etc. The increasing investments / funding in research and development across various countries is fueling the growth of the soft robotics market.
- Exoskeletons are an emerging technology in development that has the potential to protect and save warehouse and manufacturing workers from shoulders, back pain, neck pain, and heavy and repetitive lifting injuries. Various researchers are developing flexible and portable robots that mimic muscle movements. From april 2020, General Motors designed a battery-powered exoskeleton glove developed by a Swedish company, Bioservo. The “Iron Hand” glove has sensors and motors in each finger, which automatically respond to a level of force the glove wearer applies to their hand when lifting or gripping something.
- The falling cost of sensors and the popularity of existing robots are significant signs that the field of robotics is undergoing significant transformation and development. With the advent of self-learning software robots through AI, the soft robotics market is expected to experience drastic changes during the forecast period. For example, in February 2020, MIT the researchers allowed a flexible robotic arm to understand its configuration in 3D space by exploiting only the movement and position data of its sensory skin. It uses flexible sensors and artificial intelligence models to inform robots about their body’s position in the 3D environment.
- In addition, many R&D projects have been funded by various governments around the world despite the Covid-19 crisis to support the contribution of robotics and automation to industry and society. For example, from China Made in strategic plan China 2025 includes advanced robots among the top 10 core industries.
- Despite the growing need for these robots, only a handful of soft robots are on the market, and the manufacture of soft robots is not yet entirely conventional. The scenario is expected to change over the years, however, given aggressive research activities.
The market has seen huge investments on the technical front and new entrants are expected to appear in the market. Currently, manufacturers of flexible robots have very specific solutions, and the market is moderately competitive. However, with the advent of big players in the robotics market, venturing into soft robotics is expected to increase competition.
Main topics covered:
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET OVERVIEW
4.1 Market overview
4.2 Industry Value Chain Analysis
4.3 Industry Attractiveness – Porter’s Five Forces Analysis
4.4 Impact of Covid-19 on the market
5 MARKET DYNAMICS
5.1 Market drivers
5.1.1 The need for safer automation solutions
5.1.2 Human security need in manufacturing units
5.1.3 Increased R&D from various countries
5.2 Market restrictions
5.2.1 Lack of awareness and a single centralized regulator
6 TECHNOLOGY OVERVIEW
7 MARKET SEGMENTATION
8 COMPETITIVE LANDSCAPE
- Soft Robotics Inc
- Right Robotics Inc
- Ekso Bionics Holdings Inc
- Rewalk Robotics Ltd.
- Yaskawa Electric Company
- Bioservo Technologies AB
- Festo AG
- Roving robotics
- ABB SA
- Pneubotique Inc
9 INVESTMENT ANALYSIS
10 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information on this report visit https://www.researchandmarkets.com/r/wh6jnp
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SOURCE Research and Markets