Intelligent Soft Robotics Market Expected to Surge with a CAGR of 37% by 2028

A recent research report by Markntel Advisors cites that the Global Intelligent Soft Robotics Market size was estimated at USD 783.86 Million in 2022, and is set to exhibit around 37% CAGR during 2023-28. The market growth is predominantly driven by the increasing implementation of automation in different industries, such as automotive, healthcare, space exploration, logistics, manufacturing, etc., to increase productivity while maintaining workforce safety and reducing production costs, coupled with the ongoing R&D activities and continuous innovations toward introducing advanced soft robots to cater to the specific needs of industries.

The integration of AI & ML (Machine Learning) into soft robots has been a revolution in the field of robotics, as it has enabled these machines to learn & improve their actions based on real-world experiences. At present, various manufacturers are developing efficient, self-powered, soft assistive, & autonomous robots to meet the varied end-user demands, creating remunerative prospects for the intelligent soft robotics industry to witness exponential growth in the years to come.

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Intelligent Soft Robotics Market Segmentation Analysis

Based on Type(Collaborative Robots (Co-Robots), Inflated Robots, Soft Grippers, Wearables)
Based on End-User(Healthcare, Logistics, Defense, Food & Beverage, Space)
Based on Component (Hardware (Actuators, Sensors, Controls), Software)
Based on Mobility (Stationary Soft Robots, Mobile Soft Robots)
Based on Region (North America, Latin America, Europe, Middle East & Africa, Asia-Pacific)
Based on Country(The US, Canada, Brazil, Germany, The UK, Sweden, Switzerland, Italy, China, India, Japan, South Korea, Australia, Saudi Arabia, South Africa)

Rising Demand for Wearables for Rehabilitation Programs Promises Remarkable Market Growth

The healthcare sector, a major area of growth for the industry, is increasingly adopting wearables for rehabilitation programs to train muscle movements, guide the disabled individuals, and help in injury recovery. These devices are promising to improve the quality of life for individuals with mobility challenges by enhancing their grip strength & dexterity. Besides, the military sector is also showing greater inclination toward wearables to counteract weariness & injury among combatants, thereby creating new avenues for the intelligent soft robotics industry.

With Technological Advancements and Increased Investments in Robotics, Asia-Pacific to Record Rapid Growth

The Asia-Pacific Intelligent Soft Robotics Market is set to record dramatic growth during 2023-28, owing to remarkable technological advancements and massive investments in the field of robotics & automation. Industries, such as manufacturing, consumer goods, and food & beverage, are investing heavily in smart factories, robotics, automation, logistics, & the IIoT (Industrial Internet of Things), creating a huge demand for soft robots. Moreover, the increasing implementation of automation technologies in verticals like healthcare, logistics, & manufacturing sectors, particularly across China, India, South Korea, & Japan, coupled with government funding & favorable policies for promoting R&D in robotics & automation, are other crucial aspects driving the regional market.

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Competitive Landscape

With strategic initiatives, such as mergers, collaborations, and acquisitions, the leading market players, including Cyberdyne Inc., Ekso Bionics Holdings Inc., Empire Robotics, Inc., F&P Personal Robotics, FANUC CORPORATION, Franka Emika GmbH, GLI Technology Limited, Piab AB, QB Robotics, ReWalk Robotics, Inc., RightHand Robotics, Inc., Rolls-Royce Holdings plc, Soft Robotics, Inc., Suzhou Rochu Robotics Co., Ltd, SynTouch, Inc., and Ubiros are looking forward to strengthening their market position.

Key Questions Answered in the Research Report

What are the industry’s overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares)?
What are the trends that have shaped the industry to its current form?
What key factors would propel and impede the Global Intelligent Soft Robotics Market?
How has the industry been evolving in terms of geography & product adoption?
How has the competition shaped across various countries, followed by their comparative factorial indexing?
How have buying behavior, customer inclination, and expectations from Intelligent Soft Robotics manufacturers evolved during 2018-28?
Who are the key competitors, and what strategic partnerships or ventures are they coming up with to stay afloat during the projected time frame?.

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