Soft Robotics Market By Size, Growth, Trends and Forecast 2019-2029

Summary

Report Description

Forecast Period	2025-2029
Market Size (2023)	USD 613.3 Million
CAGR (2024-2029)	10.25%
Fastest Growing Segment	Medical and Surgical
Largest Market	Asia Pacific

Market Overview

Global Soft Robotics Market was valued at USD 613.3 Million in 2023 and is anticipated to project robust growth in the forecast period with a CAGR of 10.25% through 2029. Factors driving the development of the soft robotics market include the increasing demand for safety across the various end-user industries and the growing need for automation in food processing, e-commerce, etc. The ever-increasing investments/funding in research and development across multiple nations is fueling the growth of the soft robotics market. Exoskeletons are an emerging developing technology that has the potential to protect and save warehouse and manufacturing workers from shoulders, back pain, neck pain, and injuries related to heavy and repetitive lifting. Various researchers are developing soft, wearable robots that mimic muscle movements. In May 2021, a team of researchers at Queen's University in Canada developed an exoskeleton that reduces the metabolic cost of walking. The research is based on designing an exoskeleton that obtains over some of the brakings that occur during walking, thereby reducing the total metabolic cost of walking.

Medical and non-medical exoskeletons are subjected to international safety regulatory requirements published by ISO (International Organization for Standardization)/IEC. For successful commercialization of these products, manufacturers must comply with these regulations. Also, the chances for approval are subjective. They can be achieved only if there is a reasonable assurance that the device is appropriate for its application. Because of these reasons and the lack of a single centralized regulatory body, the commercialization aspect is delayed, thus restraining the potential growth of the market. Various players have been focusing on developing soft, pneumatic-powered grippers ideal for fragile foodstuff that might be damaged by rigid robotics otherwise. Food has been a prime target for interest in automation during the pandemic due to labor shortages and fears of disease transmission. In June 2021, Soft Robotics company cited pandemic-related demand and raised USD 10 million for research and development in its revolutionary soft grasping, 3D perception, and AI technologies.

The spread of the COVID-19 pandemic has led to delays in possible research undertaken by various universities and research institutions. This is because of extended lockdown across multiple countries and social distancing norms. Furthermore, many R&D projects were funded by various governments worldwide despite the Covid-19 crisis to support the contribution of robotics and automation to the industry and society. For instance, China's strategic plan of Made in China 2025 includes advanced robots among the top 10 core industries.

Key Market Drivers

Rise in industrialization & automation and increase

Soft robotics is a specifically designed subfield of construction robots that offers reprogrammable, multi-functional, and versatile systems intelligently linking to the sensing action. Further, soft robotics vendors develop materials, components, and colossal active structures in a way that they can safely relate to the manufacturing process and adapt to their immediate environment better than the robots made of hard components. Soft robotics technology can potentially remove the complexity of mechanical and algorithmic robot designs. Further, soft robotics can combine tissue engineering to manufacture the hybrid systems that are used for medical applications. Moreover, soft robotics can be divided into robot grippers, medial robots, and similar, depending on the robotics applications. Soft robotics is a system specifically designed and manufactured from materials with mechanical properties similar to living tissues. It has now spread across the retail, food & beverage, logistic, and healthcare sectors to innovate in the product supply chain. Further, soft robotics allow the end users to increase the flexibility and adaptability of the manufacturing process due to the ability to sense and adapt according to the surrounding.

Growing Demand of Soft Robotics Industry

The soft robotics industry is expected to witness growth during the forecast period, owing to rapid development of smart infrastructure in the healthcare sectors. The market for global soft robotics is expected to be driven by a surge in the adoption of IoT and AI-based technologies in the logistics and retail industries. Thereby, offers more life-like movement and bodies. Moreover, robotics muscles are one of the most popular applications used across manufacturing sectors. Considering these factors, the global soft robotics market is estimated to experience steep growth in the future.

Rise in industrialization & automation and increase in number of exoskeleton innovations are some of the other drivers for the global soft robotics market growth. However, high costs of soft robotics in developing countries act as a major challenge for the market growth. Furthermore, innovation in robotics for small- and medium-sized companies provide lucrative opportunities for the global soft robotics market.

One of the hard-hit segments of COVID-19 is the manufacturing sector. The emergence of COVID-19 has declined the growth rate of the market in 2020, and the market is witnessing relatively slow growth in 2021. The soft robotics market was primarily hit by several obstacles created amid the COVID-19 pandemic in the logistic and manufacturing industry including the availability of raw material, contractual obligations, and project delays or cancellations. The COVID-19 has influenced the growth of the food & beverage manufacturing industries due to the reduction in consumption. Consequently, it resulted in decreased demand for the global soft robotics industry.

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Key Market Challenges

he global soft robotics market is witnessing unprecedented growth and innovation, promising to revolutionize various industries such as healthcare, manufacturing, and logistics. Soft robotics, a subfield of robotics, focuses on creating robots with flexible and adaptable materials, enabling them to mimic the movements and behaviors of living organisms. The market's rapid expansion is driven by the increasing need for automation and the demand for safer and more versatile robotic solutions. However, this burgeoning field is not without its challenges, which require careful consideration and innovative solutions. In this article, we will explore the growth drivers, challenges, and future prospects of the global soft robotics market.

The primary driver for the growth of the soft robotics market is the increasing demand for automation in various industries. Soft robots are well-suited for tasks that require delicate handling, dexterity, and adaptability. Industries such as manufacturing, agriculture, and logistics are deploying soft robots to improve efficiency and reduce labor costs.

Healthcare Applications

Soft robotics holds enormous potential in the healthcare sector. Soft robotic devices can assist with surgery, rehabilitation, and diagnostics. As the global population ages, the demand for healthcare robots is expected to rise significantly, propelling the growth of the market. Unlike traditional industrial robots, soft robots are designed to be inherently safe when working alongside humans. This feature is essential for industries like warehousing, where robots collaborate with human workers. Safety is a major driver for the adoption of soft robotics in these contexts. Soft robots are versatile and can adapt to various tasks and environments. This adaptability makes them suitable for use in unpredictable and unstructured environments, such as search and rescue missions, underwater exploration, and space exploration.

Advances in Materials and Technology

Ongoing advancements in materials science and technology have led to the development of innovative materials that are more flexible and durable. These materials enable the creation of soft robots that can withstand harsh conditions and repetitive use. Soft robotics faces various technical challenges. Designing and controlling soft robots can be more complex than their rigid counterparts. Overcoming issues related to material fatigue, control systems, and power sources is crucial to ensure their reliability and performance.

Lack of Standardization

The soft robotics industry lacks standardized design and manufacturing processes. This makes it challenging to scale production and integrate soft robots into existing systems. Standardization efforts are essential for the widespread adoption of soft robotics. Soft robots can be expensive to develop and manufacture due to the specialized materials and manufacturing processes involved. This cost can be a barrier to entry for smaller companies and limit the adoption of soft robotics in some industries.

Limited Payload Capacity:

Soft robots typically have a lower payload capacity compared to traditional rigid robots. This limitation can be a hindrance in industries that require heavy lifting or handling bulky materials. Ensuring the durability and longevity of soft robots is a challenge, especially in harsh environments or high-wear applications. Overcoming issues like wear and tear, material degradation, and environmental resistance is critical. Soft robotics used in healthcare or other safety-critical applications must adhere to strict regulatory requirements. Navigating these regulations and obtaining approvals can be a time-consuming and costly process.

Integration

Integrating soft robots into existing systems and workflows can be complex. Companies must invest in adapting their processes and training their workforce to effectively use these new technologies. The soft robotics market is becoming increasingly competitive, with both established companies and startups entering the field. Competition can drive innovation but also pose challenges for market newcomers.

Despite the challenges, the future of the global soft robotics market is promising. Innovative solutions are emerging to address the technical and economic obstacles, and a growing number of applications are being explored. Here are some key trends and opportunities for the future:

Customization

As technology evolves, soft robots will become more customizable to meet specific industry and application needs. Tailored soft robotic solutions will provide better performance and efficiency. Advances in control systems and sensors will enhance the capabilities of soft robots, allowing them to perform more complex tasks with greater precision. The integration of artificial intelligence (AI) and machine learning into soft robotics will enable robots to adapt and learn from their environment, making them more autonomous and versatile.

Standardization Efforts

Industry efforts to standardize soft robotics design and manufacturing processes will reduce barriers to entry and facilitate broader adoption. As the market matures, more significant investments will flow into research and development, leading to breakthroughs in materials, designs, and applications. The healthcare sector is expected to witness substantial growth, with soft robots playing a vital role in minimally invasive surgery, rehabilitation, and elder care.

Eco-friendly Soft Materials

The development of environmentally friendly soft materials will be crucial for sustainability and eco-conscious industries. In conclusion, the global soft robotics market is on a trajectory of growth and innovation, driven by the need for automation, safety, and adaptability. While the field faces various challenges, the ongoing advancements in materials, technology, and regulatory frameworks present opportunities for overcoming these obstacles. With increasing investments and collaborative efforts, the future of soft robotics holds great promise in transforming various industries and enhancing our quality of life.

Key Market Trends

Soft robots inherently have the advantage of being compliant with the natural tissues of humans and living organisms. Minimally invasive surgery (MIS) is one of the research areas with the big potential of adopting Soft Robotics. As it overcomes the limitation of traditional MIS methods such as a low degree of freedom. Furthermore, the increasing need for automation coupled with human safety in manufacturing facilities is expected to boost the Soft Robotics Market.

Minimally Invasive Surgery

Exoskeletons are an emerging technology that has the potential to protect warehouse and manufacturing workers from bad backs, shoulders, as well as neck injuries related to heavy and repetitive lifting. Increasing automation in the food & beverages industry and rising research and development in the robotics industry are some of the main drivers for the Soft Robotics Market. Many R&D projects were funded by various governments worldwide despite the Covid-19 crisis to support the contribution of robotics and automation to the industry as well as society. Soft robotic tools are being used for minimally invasive surgical procedures, allowing for greater precision and reduced patient trauma. These robots can access hard-to-reach areas and perform delicate tasks with minimal scarring.

Rehabilitation Aids

Soft robotic exoskeletons and prosthetic devices are aiding in the rehabilitation of patients with mobility impairments. These devices can assist patients in regaining their mobility and independence. Soft robots are being developed for targeted drug delivery within the human body, offering a more precise and efficient means of administering medication, particularly in cancer treatment and other chronic diseases. Soft robots are playing a significant role in elderly care, assisting caregivers and improving the quality of life for the elderly. These robots can help with tasks like lifting and transferring patients, reducing the physical strain on healthcare workers.

Segmental Insights

Application Insights

Soft robots inherently have the advantage of being compliant with the natural tissues of humans and living organisms. Minimally invasive surgery (MIS) is one of the research areas with the big potential of adopting soft robotics. This is because it overcomes the limitation of traditional MIS methods, such as a low degree of freedom.

The limitations of open and laparoscopic procedures and the increasing advantages of robotic surgery systems are expected to boost the adoption rates of robot-assisted surgeries worldwide. Soft-robotic surgery on a human body has been inspired by soft-bodied animals with applications specifically designed for minimally invasive surgery (MIS), opening up areas previously inaccessible to surgeons using current keyhole surgery techniques. With similar research being active across multiple researcher labs, and medtech companies innovating new soft robots will likely shape how physicians perform surgeries. According to a study conducted on Soft Robot-Assisted Minimally Invasive Surgery (RAMIS) and Interventions by IEEE in May 2022, with the arrival of laparoscopic surgery, which is performed through narrow incisions, the surgical community saw a rapid move away from traditional open surgery. Switching from handheld instruments to RAMIS was the next logical step. Surgeons could easily perform complex surgical procedures with the help of robots and an intuitive user interface, partially replicating the easily accessible situation of open surgery. The robotic surgery market is expected to benefit from the growing incidence of chronic diseases such as urology, gynecology, orthopedic, and other chronic disorders worldwide. According to the latest World Health Organization (WHO) report, non-communicable diseases (NCDs), such as cardiovascular disease, cancer, diabetes, and chronic respiratory diseases, are responsible for almost 71% of global deaths. It accounts for 41 million people dying each year of these NCDs.

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Regional Insights

Asia-Pacific is one of the Largest markets for soft robotics mainly due to the massive adoption of the technology with increasing domestic production in the market. The regional vendors also play a significant role in the innovation and development in the soft robotics field. For instance, according to the SIPRI, China's military expenditure reached USD 252 billion in 2020, 1.7% of its GDP and 13% of global spending. While India's defense budget for 2002 is USD 72.9 billion. India plans to invest in military robotics, and by 2023, the country is preparing to deploy advanced robotic soldiers. Such inclination toward robotic deployment is likely to create scope for the market in the region.

Regarding wearable exoskeleton development, two countries in Asia stand apart from Japan and China. Both countries view exoskeletons as key to preventing workplace injury and allowing aging workers to stay in the workforce longer. These countries are profoundly investing in the development of robotic exoskeletons for their ability to assist injured or disabled people and keep aging populations in the force longer.

Further, in October 2021, the Indian Spinal Cord Injury Center (ISIC) announced that the patient was being treated using her 3D imaging capabilities and robot-guided minimally invasive surgery. Indian doctors integrated "O-Arm," a 3D imaging system with MAZOR X. The MAZOR X Stealth Edition is the advanced, minimally invasive robotic surgery for orthopedic, neurological, and spinal disorders.

In China, many research organizations and engineers are developing exoskeletons for military applications. For instance, The 202 Institute of China Ordnance Industry Group is developing an exoskeleton for military applications. These exoskeletons can carry more than 100 lb. and walk more than 12 miles at a speed of 2.7 miles per hour.

Additionally, in Japan, the government is collaborating with universities and companies to develop a robotic surgery system that allows doctors to operate more accurately and simultaneously monitor MRI readings and data from other devices. Like many other countries, Korea is adapting robots for healthcare.

Recent Developments

June 2022 - RightHand Robotics, a robotic picking solution for order fulfillment, and Asetec, a logistics automation ICT company, have partnered on a future robotic logistics center integration project in South Korea. Asetec combines robotic warehouse systems and other complementary technologies with RightHand Robotics RightPick item handling solutions to add a diverse range of automation to its offerings.
In January 2022, Benchmark announced a manufacturing and supply agreement with Titan Medical to manufacture patient carts for Titan's Enos robotic workstations and single-port surgical systems. The company was selected for its experience and vertical integration in designing, manufacturing, and assembling complex medical devices and its ability to scale production to meet demand. The company has integrated its manufacturing solutions with Titan's cameras and articulated instruments to help achieve its goal of manufacturing surgical workstations and patient carts for use in human studies scheduled to begin in 2023.

Key Market Players

Soft Robotics Inc.
FANUC Corporation
RightHand Robotics
KUKA AG
Yaskawa Electric Corporation
BionicHIVE
Pneubotics Inc
SynTouch LLC
Shadow Robot Company Ltd.

By Type

By Application

By Region

Soft Grippers
Co-Robots
Inflated Robots

Human-Machine Interface and Interaction
Locomotion and Exploration
Manipulation
Medical and Surgical applications
Rehabilitation and Wearable Robots

North America
Europe
South America
Middle East & Africa
Asia Pacific

Report Scope:

In this report, the Global Soft Robotics Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

· Global Soft Robotics Market, By Type:

o Soft Grippers

o Co-Robots

o Inflated Robots

· Global Soft Robotics Market, By Application:

o Human-Machine Interface and Interaction

o Locomotion and Exploration

o Manipulation

o Medical and Surgical applications

o Rehabilitation and Wearable Robots

· Global Soft Robotics Market, By Region:

o North America

§ United States

§ Canada

§ Mexico

o Asia-Pacific

§ China

§ India

§ Japan

§ South Korea

§ Indonesia

o Europe

§ Germany

§ United Kingdom

§ France

§ Russia

§ Spain

o South America

§ Brazil

§ Argentina

o Middle East & Africa

§ Saudi Arabia

§ South Africa

§ Egypt

§ UAE

§ Israel

Competitive Landscape

Company Profiles: Detailed analysis of the major companies presents in the Global Soft Robotics Market.

Available Customizations:

Global Soft Robotics Market report with the given market data, Tech Sci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

Detailed analysis and profiling of additional market players (up to five).

Global Soft Robotics Market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]

Table of content

1. Product Overview

1.1. Market Definition

1.2. Scope of the Market

1.3. Markets Covered

1.4. Years Considered for Study

1.5. Key Market Segmentations

2. Research Methodology

2.1. Objective of the Study

2.2. Baseline Methodology

2.3. Key Industry Partners

2.4. Major Association and Secondary Sources

2.5. Forecasting Methodology

2.6. Data Triangulation & Validation

2.7. Assumptions and Limitations

3. Executive Summary

4. Voice of Customers

5. Global Soft Robotics Market Outlook

5.1. Market Size & Forecast

5.1.1. By Value

5.2. Market Share & Forecast

5.2.1. By Type (Soft Grippers, Co-Robots, Inflated Robots)

5.2.2. By Application (Human-Machine Interface and Interaction, Locomotion and Exploration, Manipulation, Medical and Surgical applications, Rehabilitation and Wearable Robots)

5.2.3. By Region

5.3. By Company (2023)

5.4. Market Map

6. North America Soft Robotics Market Outlook

6.1. Market Size & Forecast

6.1.1. By Value

6.2. Market Share & Forecast

6.2.1. By Type

6.2.2. By Application

6.2.3. By Country

6.3. North America: Country Analysis

6.3.1. United States Soft Robotics Market Outlook

6.3.1.1. Market Size & Forecast

6.3.1.1.1. By Value

6.3.1.2. Market Share & Forecast

6.3.1.2.1. By Type

6.3.1.2.2. By Application

6.3.2. Canada Soft Robotics Market Outlook

6.3.2.1. Market Size & Forecast

6.3.2.1.1. By Value

6.3.2.2. Market Share & Forecast

6.3.2.2.1. By Type

6.3.2.2.2. By Application

6.3.3. Mexico Soft Robotics Market Outlook

6.3.3.1. Market Size & Forecast

6.3.3.1.1. By Value

6.3.3.2. Market Share & Forecast

6.3.3.2.1. By Type

6.3.3.2.2. By Application

7. Asia-Pacific Soft Robotics Market Outlook

7.1. Market Size & Forecast

7.1.1. By Value

7.2. Market Share & Forecast

7.2.1. By Type

7.2.2. By Application

7.2.3. By Country

7.3. Asia-Pacific: Country Analysis

7.3.1. China Soft Robotics Market Outlook

7.3.1.1. Market Size & Forecast

7.3.1.1.1. By Value

7.3.1.2. Market Share & Forecast

7.3.1.2.1. By Type

7.3.1.2.2. By Application

7.3.2. India Soft Robotics Market Outlook

7.3.2.1. Market Size & Forecast

7.3.2.1.1. By Value

7.3.2.2. Market Share & Forecast

7.3.2.2.1. By Type

7.3.2.2.2. By Application

7.3.3. Japan Soft Robotics Market Outlook

7.3.3.1. Market Size & Forecast

7.3.3.1.1. By Value

7.3.3.2. Market Share & Forecast

7.3.3.2.1. By Type

7.3.3.2.2. By Application

7.3.4. South Korea Soft Robotics Market Outlook

7.3.4.1. Market Size & Forecast

7.3.4.1.1. By Value

7.3.4.2. Market Share & Forecast

7.3.4.2.1. By Type

7.3.4.2.2. By Application

7.3.5. Indonesia Soft Robotics Market Outlook

7.3.5.1. Market Size & Forecast

7.3.5.1.1. By Value

7.3.5.2. Market Share & Forecast

7.3.5.2.1. By Type

7.3.5.2.2. By Application

8. Europe Soft Robotics Market Outlook

8.1. Market Size & Forecast

8.1.1. By Value

8.2. Market Share & Forecast

8.2.1. By Type

8.2.2. By Application

8.2.3. By Country

8.3. Europe: Country Analysis

8.3.1. Germany Soft Robotics Market Outlook

8.3.1.1. Market Size & Forecast

8.3.1.1.1. By Value

8.3.1.2. Market Share & Forecast

8.3.1.2.1. By Type

8.3.1.2.2. By Application

8.3.2. United Kingdom Soft Robotics Market Outlook

8.3.2.1. Market Size & Forecast

8.3.2.1.1. By Value

8.3.2.2. Market Share & Forecast

8.3.2.2.1. By Type

8.3.2.2.2. By Application

8.3.3. France Soft Robotics Market Outlook

8.3.3.1. Market Size & Forecast

8.3.3.1.1. By Value

8.3.3.2. Market Share & Forecast

8.3.3.2.1. By Type

8.3.3.2.2. By Application

8.3.4. Russia Soft Robotics Market Outlook

8.3.4.1. Market Size & Forecast

8.3.4.1.1. By Value

8.3.4.2. Market Share & Forecast

8.3.4.2.1. By Type

8.3.4.2.2. By Application

8.3.5. Spain Soft Robotics Market Outlook

8.3.5.1. Market Size & Forecast

8.3.5.1.1. By Value

8.3.5.2. Market Share & Forecast

8.3.5.2.1. By Type

8.3.5.2.2. By Application

9. South America Soft Robotics Market Outlook

9.1. Market Size & Forecast

9.1.1. By Value

9.2. Market Share & Forecast

9.2.1. By Type

9.2.2. By Application

9.2.3. By Country

9.3. South America: Country Analysis

9.3.1. Brazil Soft Robotics Market Outlook

9.3.1.1. Market Size & Forecast

9.3.1.1.1. By Value

9.3.1.2. Market Share & Forecast

9.3.1.2.1. By Type

9.3.1.2.2. By Application

9.3.2. Argentina Soft Robotics Market Outlook

9.3.2.1. Market Size & Forecast

9.3.2.1.1. By Value

9.3.2.2. Market Share & Forecast

9.3.2.2.1. By Type

9.3.2.2.2. By Application

10. Middle East & Africa Soft Robotics Market Outlook

10.1. Market Size & Forecast

10.1.1. By Value

10.2. Market Share & Forecast

10.2.1. By Type

10.2.2. By Application

10.2.3. By Country

10.3. Middle East & Africa: Country Analysis

10.3.1. Saudi Arabia Soft Robotics Market Outlook

10.3.1.1. Market Size & Forecast

10.3.1.1.1. By Value

10.3.1.2. Market Share & Forecast

10.3.1.2.1. By Type

10.3.1.2.2. By Application

10.3.2. South Africa Soft Robotics Market Outlook

10.3.2.1. Market Size & Forecast

10.3.2.1.1. By Value

10.3.2.2. Market Share & Forecast

10.3.2.2.1. By Technology

10.3.2.2.2. By Type

10.3.2.2.3. By Application

10.3.3. UAE Soft Robotics Market Outlook

10.3.3.1. Market Size & Forecast

10.3.3.1.1. By Value

10.3.3.2. Market Share & Forecast

10.3.3.2.1. By Type

10.3.3.2.2. By Application

10.3.4. Israel Soft Robotics Market Outlook

10.3.4.1. Market Size & Forecast

10.3.4.1.1. By Value

10.3.4.2. Market Share & Forecast

10.3.4.2.1. By Type

10.3.4.2.2. By Application

10.3.5. Egypt Soft Robotics Market Outlook

10.3.5.1. Market Size & Forecast

10.3.5.1.1. By Value

10.3.5.2. Market Share & Forecast

10.3.5.2.1. By Type

10.3.5.2.2. By Application

11. Market Dynamics

11.1. Drivers

11.2. Challenge

12. Market Trends & Developments

13. Company Profiles

13.1. Soft Robotics Inc.

13.1.1. Business Overview

13.1.2. Key Revenue and Financials

13.1.3. Recent Developments

13.1.4. Key Personnel

13.1.5. Key Product/Services

13.2. FANUC Corporation.

13.2.1. Business Overview

13.2.2. Key Revenue and Financials

13.2.3. Recent Developments

13.2.4. Key Personnel

13.2.5. Key Product/Services

13.3. RightHand Robotics.

13.3.1. Business Overview

13.3.2. Key Revenue and Financials

13.3.3. Recent Developments

13.3.4. Key Personnel

13.3.5. Key Product/Services

13.4. KUKA AG.

13.4.1. Business Overview

13.4.2. Key Revenue and Financials

13.4.3. Recent Developments

13.4.4. Key Personnel

13.4.5. Key Product/Services

13.5. Yaskawa Electric Corporation.

13.5.1. Business Overview

13.5.2. Key Revenue and Financials

13.5.3. Recent Developments

13.5.4. Key Personnel

13.5.5. Key Product/Services

13.6. BionicHIVE.

13.6.1. Business Overview

13.6.2. Key Revenue and Financials

13.6.3. Recent Developments

13.6.4. Key Personnel

13.6.5. Key Product/Services

13.7. Pneubotics Inc.

13.7.1. Business Overview

13.7.2. Key Revenue and Financials

13.7.3. Recent Developments

13.7.4. Key Personnel

13.7.5. Key Product/Services

13.8. SynTouch LLC.

13.8.1. Business Overview

13.8.2. Key Revenue and Financials

13.8.3. Recent Developments

13.8.4. Key Personnel

13.8.5. Key Product/Services

13.9. Shadow Robot Company Ltd..

13.9.1. Business Overview

13.9.2. Key Revenue and Financials

13.9.3. Recent Developments

13.9.4. Key Personnel

13.9.5. Key Product/Services

14. Strategic Recommendations

15. About Us & Disclaimer

Figures and Tables

Frequently asked questions

What was the market size of the Global Soft Robotics Market in 2023?

The market size of the Global Soft Robotics Market was USD 613.3 Million in 2023.

Which was the dominant segment in the Global Soft Robotics Market in 2023?

The Global Soft Robotics Market was dominated by the Medical and Surgical segment in 2023.

What is the main Challenge in the Global Soft Robotics Market?

Medical and non-medical exoskeletons are subjected to international safety regulatory requirements published by ISO (International Organization for Standardization)/IEC. Because of these reasons and the lack of a single centralized regulatory body, the commercialization aspect is delayed, thus restraining the potential growth of the market.

What are the major drivers for the Global Soft Robotics Market?

Factors driving the development of the soft robotics market include the increasing demand for safety across the various end-user industries and the growing need for automation in food processing, e-commerce, etc.

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Press Release

Medical and Surgical is Expected to Dominate the Global Soft Robotics Market

Feb, 2024

Increasing automation in the food & beverages industry and rising research and development in the robotics industry are the key drivers for the Soft Robotics Market.

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