Soft Robots Market Size, Trends, Share, Growth, and Opportunity Forecast, 2023 - 2030 Global Industry Analysis By Type (Soft Grippers, Cobots, Inflated Robots, Wearable Robots, and Edible Robots), By Component (Hardware, and Software), By End-user (Healthcare, Food & Beverages, Logistics, Automotive, and Others), and By Geography (North America, Europe, Asia Pacific, South America, and Middle East & Africa)

The Global Soft Robots Market was valued at USD 826.4 Million in 2022 and is anticipated to reach a value of USD 10,906.6 Million by 2030 expanding at a CAGR of 38.2% between 2023 and 2030.

Soft robots is a subfield of robotics that is specially designed and manufactured from materials with mechanical properties that are mimic to living tissues. Soft robots enable re-programmable, multipurpose, and flexible systems that intelligently link sensing action. It has has now spread to the retail, food and beverage, logistics, and healthcare sectors to innovate product supply chain. Soft robots providers develop materials, components, and large active structures that can be safely associated with the manufacturing process. In addition, soft robots enables end-users to boost the flexibility, and adaptability of the manufacturing process owing to their ability to perceive their surroundings and react accordingly. Soft robots types generally includes soft grippers, cobots, inflated robots, wearable robots, and edible robots. The market is influenced by factors such as rising need for automation, increased demand in healthcare, rising research and development, and increasing demand for safety. The soft robots market serves healthcare, food & beverages, logistics, automotive, and other various industries

Soft Robots Market Major Driving Forces

Rising Need for Automation: The demand for automation in various industries, such as manufacturing, logistics, and agriculture is driving the adoption of soft robots. Soft robots has ability to handle delicate and complex tasks that traditional rigid robots may struggle with, making them suitable for applications.

Increased Demand in Healthcare: Soft robots have gained significant traction in the healthcare industry, especially in minimally invasive surgeries, rehabilitation and assistive devices. Soft robots’ ability to interact safely with human tissues and provide precise control makes them valuable tools for surgeons.  

Rising Research and Development: Increasing investments in research and development activities by several governments contributes to the growth of the soft robots market. These investments support the innovation and development of new soft robotic technologies to address particular challenges in healthcare, manufacturing, and other various industries.

Increasing Demand for Safety: The expansion of the soft robots market is driven by the rising demand for safety in various industries such as food processing, manufacturing, and e-commerce. Additionally, there is rise in safety standards in the manufacturing and processing industries, propelling businesses to adopt soft robots.

Soft Robots Market Key Opportunities

Innovations in Robots: The automation and technological advancements presents profitable opportunities for soft robots market to improve robotics immensely in the forecast The surge in adoption of AI and IoT technologies allows soft robots to become more autonomous and adaptable and improves their effectiveness.

Expanding Industrial Applications: Soft robots offers a wide range of significant opportunities for various industries including food processing, automotive, and construction. The growth in industrialization and automation with the increasing number of exoskeleton innovations contributes to the soft robots market demand in the forecast period.  

Advancements in Material Sciences: Continuous advancements in material science and control systems for enhancing the capabilities of soft robots. Developing new materials that imitate natural tissues and improving the control and sensing capabilities of soft robots systems, is anticipated to create opportunities for market growth.

Soft Robots Market Key Trends

·         The growing need or automation in the food processing, construction, manufacturing, e-commerce, and other industries is one of the major factor propelling the growth of market

·         Exoskeletons are a newly developed technology that could shield and save factory and warehouse workers from neck, shoulder, back pain and injuries brought by heavy lifting

·         Increasing adoption of artificial intelligence and internet of things (IoT) technologies is boosting the use of soft robots

·         The reduction in the sensor costs and transforming and developing existing robotics is propelling the market growth

·         The growing innovations in robotics for small and medium-sized industries provides a profitable potential for soft robotics market expansion

·         Rising industrialization and automation have increased the demand for soft robots at the workplace

·         Customization and personalization in soft robots covers becoming a trend, allowing consumers to match their unique needs of various industries  

Region-wise Market Insights

North America accounted for the largest market share at 34.6% in 2022 whereas, Asia Pacific is expected to register the fastest growth, expanding at a CAGR of 40.3% between 2023 and 2030.

In North America, the demand is attributed to the factors such as strong presence of major key players, growing adoption of soft robots, the rise in gynecology, urology, and orthopedic-related disorders, and improvement in healthcare facilities within the region. Moreover, the growth is driven by the vast adoption of robotic technologies in the automotive, healthcare, and food and beverages industries. Europe emphasizes on automation and safety regulations across various industries. In addition, the strong presence of auto manufacturers and the need for automated vehicle manufacturing processes drives the market in Europe. In Asia-Pacific, the market is characterized by growing automation in manufacturing sector, rapid growth of the automotive and healthcare, and life sciences industry. Additionally, the automation rate in countries such as Japan, China, and South Korea is exceptionally high. Moreover, the growing industrialization and production in the Asia Pacific drives the growth of the market. The Middle East and Africa has been witnessing a growing demand for soft robots owing to growing interest in robotics and automation.

Market Competition Landscape

The global soft robots market is characterized by intense competition among a large number of manufacturers. Key players in the soft robots market engage in strategies aimed at gaining a competitive edge. These strategies include product innovation, design differentiation, and the incorporation of sustainable and eco-friendly materials to meet evolving consumer preferences. Established brands leverage their reputation for quality and reliability to maintain market share, while newer entrants focus on disruptive innovations and unique selling propositions.

Key players in the global soft robots market implement various organic and inorganic strategies to strengthen and improve their market positioning. Prominent players in the market include:

·         Soft Robotics Inc.

·         Ekso Bionics Holdings Inc.

·         Fanuc Corporation

·         ReWalk Robotics Ltd.

·         Yaskawa Motoman

·         RightHand Robotics, Inc.

·         ABB Ltd.

·         Festo AG

·         KUKA AG

·         Cyberdyne Inc.

·         Mitsubishi Electric Corporation

·         Universal Robots

·         Roam Robotics

·         F&P Robotics AG