Impact of COVID-19 on North America Soft Robotics Market: Segmented: By Type (Inflated Robots, Collaborative Robots (Co-bots), Soft Grippers, Wearables, and Other Types), By Components (Hardware, Actuators, Sensors, Controls, Modelling & Manufacturing Systems, Software), By Application (Human-machine Interface And Interaction, Locomotion And Exploration, Manipulation, Medical And Surgical Applications, Rehabilitation), By End User (Healthcare, Logistics, Defense, Food & Beverage, Space), And Region - Global Analysis of Market Size, Share & Trends For 2019-2021 And Forecasts To 2031
[ 170 + Pages Research Report ] North America Soft Robotics Market to surpass USD 2,693.6 million by 2031 from USD 282 million in 2021 at a CAGR of 25.4% in the coming years, i.e., 2021-2031.
Soft robotics is a construction robot subfield that offers reprogrammable, multi-functional, and versatile systems that intelligently relate to sensing activity. Soft robotics vendors also design materials, components, and massive active structures in such a way that they can safely relate to the production process and adapt to their immediate environment, unlike hard component robots. Soft robotics technology is capable of making algorithmic and mechanical robot designs much simpler. Soft robotics can also be used with tissue engineering to create hybrid systems for medical applications.
North America Soft Robotics Market is expected to project a notable CAGR of 25.4% in 2031.
Over the forecast period, factors such as the rapid growth of smart infrastructure in the healthcare sector and the rapid use of IoT and AI-based technologies in the logistics and retail industries are likely to favorably impact the market. Furthermore, robotic muscles are one of the most widely used applications in the industrial industry. Due to these factors, the worldwide soft robotics market is expected to grow rapidly in the future.
The Wearables segment is expected to grow with the highest CAGR during 2021-31
Based on Type, the North America Soft Robotics Market is fragmented into Inflated Robots, Collaborative Robots (Co-bots), Soft Grippers, Wearables, and Other Types. By 2027, the wearable robots (Exoskeletons) sector is predicted to dominate the market. Exoskeletons have been commercialized and have a higher market penetration than soft grippers and soft co-robots. This is due to a greater emphasis on healthcare industry research due to the need for human participation. As a result, during the forecast period, these significant benefits will propel the control valves section of the global Soft Robotics market forward.
The Healthcare segment is expected to grow with the highest CAGR during 2021-31
North America Soft Robotics Market is classified on the basis of End User into Healthcare, Logistics, Defense, Food & Beverage, and Space. During the forecast period 2021-2027, the medical and healthcare segment of the worldwide Soft Robotics market is predicted to develop at a faster CAGR. Soft robots have the inherent advantage of being compatible with natural human and biological tissues. One of the research topics where soft robots have a lot of potential is minimally invasive surgery (MIS). This is owing to the fact that it overcomes the drawbacks of traditional MIS techniques, such as a lack of flexibility.
The Growing Need for Automation in Multiple Industries
The growing demand for safety across various end-user industries, as well as the growing requirement for automation in industries such as food processing, e-commerce, and others, are driving the growth of the soft robotics market. The expansion of the soft robotics market is being fueled by increasing investments/funding in research & development across various regions. The falling cost of sensors and the increasing popularity of current robots are both evidence that the robotics field is undergoing considerable transformation and progress. The soft robotics market is likely to undergo significant changes throughout the forecast period, thanks to the introduction of AI-powered self-learning soft robots.
Speedy Industrialization and Rise in Exoskeleton Innovations
Other factors driving the worldwide soft robotics market growth include increased industrialization and automation, as well as an increase in the number of exoskeleton technologies. In addition, robotics innovation for small and medium-sized businesses creates the profitable potential for the worldwide soft robotics market.
High cost associated with the Soft Robotics
Some of the primary constraints in the North American Soft Robotics Market are the high costs involved with soft robotics development and the difficulty in deployment due to the limited stretchability of electrical components.
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
North America Soft Robotics Market is segmented based on regional analysis into two major regions: Canada and United States. Increased per capita affluence in the United States has resulted in raised demand for both durable and nondurable goods, stressing the importance of a safe and efficient manufacturing process. As a result, manufacturers of both durable and non-durable goods are increasingly adopting huge assembly lines into their manufacturing processes to meet the demand for these goods.
The pandemic has not only created new and difficult challenges for global markets and industries, but it is also hampered the market's ability to produce and manufacture goods during the forecast period of 2018-2024 due to factors such as a lack of or insufficient raw materials to produce finished goods, as well as a lack of skilled labor, market forces of demand and supply, and logistics to keep up with trends in goods delivery and availability.
North America Soft Robotics Market is further segmented by region into:
North America Soft Robotics Market Segments:
|Market size value in 2021||USD 282 million|
|Revenue forecast in 2031||USD 2,693.6 million|
|Growth Rate||CAGR of 25.4% from 2021 to 2031|
|Base year for estimation||2020|
|Quantitative units||Revenue in USD million and CAGR from 2021 to 2031|
Revenue forecast, company ranking, competitive landscape, growth factors, and trends
|Segments covered||Type, Components, Application, End User, and Region|
|Regional scope||United States and Canada|
|Key companies profiled||Cyberdyne Inc, Ekso Bionics Holdings Inc, F&P Personal Robotics, Fanuc Corporation, Festo Ag, Piab Ab, Qb Robotics, Rewalk Robotics Ltd, Righthand Robotics Inc, Rolls-royce Holdings Plc, Soft Robotics Inc, and Other Prominent Players.|
North America Soft Robotics Market to surpass USD 2,693.6 million by 2031 from USD 282 million in 2021 at a CAGR of 25.4% in the coming years, i.e., 2021-2031.
Cyberdyne Inc, Ekso Bionics Holdings Inc, F&P Personal Robotics, Fanuc Corporation, Festo Ag, Piab Ab, Qb Robotics, Rewalk Robotics Ltd, Righthand Robotics Inc, Rolls-Royce Holdings Plc, Soft Robotics Inc,
The Wearables segment is expected to grow with the highest CAGR during 2021-31 is anticipated to hold the North America Soft Robotics Market.
Drivers- The Growing Need for Automation in Multiple Industries
Soft robotics is a construction robot subfield that offers reprogrammable, multi-functional, and versatile systems that intelligently relate to sensing activity. Soft robotics vendors also design materials, components, and massive active structures.
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