Soft Robotics Market Overview and Statistic For 2024-2033

The Business Research Company’s Soft Robotics Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

LONDON, GREATER LONDON, UK, June 27, 2024 /EINPresswire.com/ — The soft robotics market has experienced exponential growth, expanding from $1.46 billion in 2023 to an anticipated $1.84 billion in 2024 at a CAGR of 25.7%, driven by increased applications in medical robotics, versatility in gripping and manipulation, interest from defense and military sectors, consumer electronics and wearable robotics, and automation in agriculture. Projected to reach $4.53 billion by 2028 at a CAGR of 25.3%, future growth is expected due to expansion in the food and beverage industry, environmental monitoring and exploration, global health and safety concerns, standardization and commercialization, and customization for specific applications. Key trends include bio-inspired design and biomimicry, soft sensors and feedback systems, AI integration, soft exoskeletons for human augmentation, and collaborative robots (cobots).

Government Initiatives Propel Market Expansion
Government initiatives supporting robotics, including soft robots, are anticipated to fuel further market growth. These initiatives, often spearheaded by national agencies such as the US National Science Foundation’s National Robotics Initiative 3.0, aim to advance robot integration science for human benefits like safety and independence. Such programs play a pivotal role in fostering innovation and adoption within the industry.

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Key Players and Market Trends
Leading companies in the soft robotics market, such as Asea Brown Boveri Ltd., Fanuc Corporation, and Yaskawa Electric Corporation, are focusing on technological innovations to enhance customer service. Innovations like soft robotic hand rehabilitation gloves with soft exoskeleton technology exemplify advancements aimed at improving rehabilitation for individuals with hand impairments.
In November 2022, Siyi Intelligence introduced HRC12, the latest generation of SYREBO soft robotic hand rehabilitation gloves. These gloves integrate cutting-edge soft exoskeleton technology, offering enhanced training modes and realistic rehabilitation programs tailored for at-home use.

Segments Driving Market Diversity
The soft robotics market is segmented based on type, component, and end-user applications, providing a nuanced understanding of market dynamics:
• Type: Soft Grippers, Cobots, Inflated Robots, Exoskeleton
• Component: Hardware, Software
• End User: Healthcare, Advanced Manufacturing, Food and Beverages, Logistics, Other End Users

Geographical Insights: Asia-Pacific Leads, Europe Poised for Fastest Growth
Asia-Pacific emerged as the largest region in the soft robotics market in 2023, driven by robust technological adoption and manufacturing capabilities. Europe is expected to witness the fastest growth during the forecast period, supported by increasing investments in robotics across various sectors.

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Soft Robotics Global Market Report 2024 from TBRC covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Soft Robotics Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on soft robotics market size, soft robotics market drivers and trends, soft robotics market major players, competitors’ revenues, market positioning, and market growth across geographies. The soft robotics market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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