Soft Robotics Market Analysis, Growth Drivers, Business Trends, Competitor Strategies, Opportunities and Analysis of COVID-19

Market Overview

The global soft robotics market was closed at a global value worth USD 300.50 million for the historic forecast period in 2018. The global market operations at a CAGR of 40.62% and help the market attain a final valuation worth USD 2,323.58 Million by the end of the forecast period in 2024. The global market operations are experiencing a significant performance of the market players and hence, expecting a substantial transformation with the availability and functioning of robots that are not restricted to industrial shop floors.

The novel coronavirus emerged as a specific disease. When the whole country was getting itself aware and prepared to fight the pandemic, it had already begun causing casualties, followed by its declaration as a pandemic by the WHO. The main reason behind this is the emergence of prominent factors like less or unavailability of raw materials to produce the finished goods, alongside the absence of skilled labor, market forces of demand, and supply and logistics to keep up with the trends related to the delivery of goods and availability on the requirement.

The soft robotics market is undergoing a vast and elaborated demand amongst robots in various industry verticals and departments, like playing the role of personal assistants and bridging the gap between the service seekers and service providers. Implementing robots and their training to suit the workings of various departments and industry verticals will enhance the operations and further ensure reliable and efficient working of the industry departments and cover the losses incurred during the spread of the COVID 19 pandemic beginning in late 2019 and 2020.

Market Segmentation

Based on the Type

The soft robotics market has been divided all across the globe based on the type into edible robots, wearable robots, inflated robots, co-robots, soft grippers, and others. The wearable robot type holds the largest market share in the type dividend. However, a fast growth rate is also observed in the co-robot type.

Based on the Application

The soft robotics market has been divided all across the globe based on the application into survey & exploration, entertainment & gaming, automotive, logistics, food and beverages, healthcare and medical, and others. The medical and healthcare application holds the largest market share in the application dividend due to the increasing number of orthopedic-related disorders, urology, and gynecology cases.

Based on the Region

The soft robotics market has been divided all across the globe based on the region into the North American region, Asia-Pacific region, European region, Latin American region, and the Middle East and African region.

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Major Players 

Players leading the global Soft Robotics Market are FANUC Corporation (Japan), Universal Robots A/S (Denmark), Techman Robot (Taiwan), KUKA AG (Germany), ABB Ltd. (Switzerland), AUBO Robotics Inc. (US), Kawasaki (Japan), Yaskawa Electric Corporation (Japan), Rethink Robotics (Germany), RightHand Robotics Inc. (US), ReWalk Robotics Ltd (Israel), Soft Robotics Inc. (US), F&P Robotics AG (Switzerland), Ekso Bionics Holdings, Inc. (US), and KAWADA Robotics Corporation (Japan), among others.

Regional Analysis

The North American area holds the largest market share in the soft robotics market due to major giant vital players.

Being the fastest-growing region, the soft robotics market is the second-largest market share in the Asia-Pacific region, owing to the increasing growth of the automotive industry and healthcare and life sciences industry.

Industry News

Yaskawa Electric Corporation (Japan) spends a considerable sum of money on research and development to get an upper edge over its competitors. It will help the company in increasing its sales volume.

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Industry Overview

• Major Segmentation, classification, Application etc.
• Production Market Analysis
• Sales Market Analysis
• Consumption Market Analysis
• Production, Sales and Consumption Market Comparison Analysis
• Competition Analysis by Players
• Marketing Channel Analysis
• New Project Investment Feasibility Analysis
• Industrial Chain, Sourcing Strategy and Downstream Buyers
• Marketing Strategy Analysis Distributors/Treads
• Global and Regional Market Forecast
• Soft Robotics Market dynamics
• Soft Robotics Market Effect Factors Analysis
• Conclusion
• Research Methodology

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