According to a research report by Consegic Business Intelligence, the global soft robotics market is expected to grow at a CAGR of 35.20% and reach over USD 8,748.87 million by the year 2030. Soft robotics is a subdivision of robotics that involves the development of robotic systems made of stretchable, flexible materials with variable and reversible properties. These systems offer a high level of behavioral diversity, adaptable shape, high elasticity, adaptability, and tolerance to operate in unknown environments, making them ideal for utilization in various industries.
One of the key factors driving the growth of the soft robotics market is the increasing utilization of soft robotics in the food and beverage industry. The rising investments in the expansion of food and beverage facilities and the increasing adoption of automated solutions are fueling the demand for soft robotic systems. These systems automate the process of handling, picking, and packaging of food and beverage products, thereby driving the growth of the market.
The adoption of industrial automation, fueled by Industry 4.0, is also expected to promote potential opportunities for the growth of the soft robotics market. Soft robotic systems offer high accuracy, precision, improved worker safety, faster industrial processes, and improved operational efficiency, making them suitable for deployment in industrial automation.
However, the availability of substitutes for soft robotics is hindering the growth of the market. Despite this, the market is expected to witness significant growth due to the growing healthcare sector, rising adoption of industrial automation, and the increasing utilization of soft robotics in various industries.
The wearable robots segment contributed the largest shares to the market growth in 2022, driven by benefits such as lightweight, increased functionality, ease of wear and removal, and constant adaptability. The healthcare segment accounted for the maximum revenue share in 2022, with soft robotics being utilized in rehabilitation, diagnostic, and surgical procedures. North America accounted for the largest revenue share in 2022, supported by the growth of multiple industries and rising investments in retail and e-commerce and logistics sectors.
In conclusion, the global soft robotics market is poised for significant growth in the coming years. The adoption of soft robotics in industries such as food and beverage, healthcare, and logistics, along with the increasing utilization of wearable robots, is driving the market’s expansion. The availability of substitutes remains a challenge, but the rising adoption of industrial automation and the growth of the healthcare sector present opportunities for market growth.
– “Global Soft Robotics Market” by Consegic Business Intelligence