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Soft Robotics Market Analysis 2024 - Global Insights, Industry Demand, Growth Trends And Outlook By 2033
Soft Robotics Market
As per the report, the soft robotics market size has grown exponentially in recent years. It will grow from $1.46 billion in 2023 to $1.84 billion in 2024 at a compound annual growth rate (CAGR) of 25.7%. The soft robotics market size is expected to see exponential growth in the next few years. It will grow to $4.53 billion in 2028 at a compound annual growth rate (CAGR) of 25.3%.
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The Internet Of Things (IOT) Drives Explosive Growth In The Soft Robotics Market
The surge in adoption of the Internet of Things (IoT) is expected to propel the growth of the soft robotics market going forward. The Internet of Things (IoT) is a networked system of interconnected computing devices, mechanical and electronic machinery with unique identities (UIDs), and the capacity to transfer data without needing human-to-human or human-to-computer contact. Soft robotics employs Internet of Things (IoT) sensors to create innovative solutions that are safer, more adaptable, and more human-friendly, opening up new possibilities in healthcare, automation, environmental monitoring, and various other fields. For instance, in September 2022, according to a report published by Ericsson, a Sweden-based telecommunications company, the global IoT connections reached 13.2 billion connections in 2022 and are expected to increase by 18% to 34.7 billion connections by 2028. Therefore, the surge in adoption of the Internet of Things (IoT) drives the soft robotics market.
Advancing Soft Exoskeleton Technology For Enhanced Customer Service
Major companies operating in the soft robotics market focus on developing innovative technology, such as soft robotic hand rehabilitation gloves with soft exoskeleton technology, to provide reliable customer service. Soft robotic hand rehabilitation gloves with soft exoskeleton technology are customized wearables to help people with hand impairments recover and rehabilitate. For instance, in November 2022, Siyi Intelligence, a China-based medical equipment manufacturing company, launched HRC12, a new generation of SYREBO soft robotic hand rehabilitation gloves with the recent advances in soft exoskeleton technology and usability and accessibility. The newly introduced HRC12 has enhanced training modes such as fine motor training, stretching mode, pinch training, and more realistic training programs, setting the trend for bringing specialized rehabilitation services into the house.
The soft robotics market covered in this report is segmented -
1) By Type: Soft Grippers, Cobots, Inflated Robots, Exoskeleton
2) By Component: Hardware, Software
3) By End User: Healthcare, Advanced Manufacturing, Food And Beverages, Logistics, Other End Users
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Major companies operating in the soft robotics market report are Asea Brown Boveri Ltd., Fanuc Corporation, Yaskawa Electric Corporation, Festo Group, Ocado Group plc, QinetiQ Group plc., Ottobock SE & Co KGaA, SRI International Inc., Universal Robots, Piab Group Holding, SoftWear Automation Inc., Doosan Robotics Inc., Disney Research, Ekso Bionics Holdings Inc., Innophys Co. Ltd., Shadow Robot Company Limited, ReWalk Robotics Inc., Artimus Robotics Inc., Octopus Robotics Incorporated, Rethink Robotics Inc., Robotnik Automation SLL, Schunk GmbH, Roam Robotics Inc., ULC Robotics Inc., RightHand Robotics Inc., Soft Robotics Inc., Tactile Robotics Ltd., Bristol Robotics Laboratory Limited, New Scale Robotics Inc., Southie Autonomy
Contents of the report:
1. Executive Summary
2. Soft Robotics Market Report Structure
3. Soft Robotics Market Trends And Strategies
4. Soft Robotics Market - Macro Economic Scenario
5. Soft Robotics Market Size And Growth
…..
27. Soft Robotics Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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