DUBLIN, October 1, 2021 / PRNewswire / – The report “Soft Robotics Market – Growth, Trends, Impact of COVID-19, and Forecasts 2021-2026” has been added to the offering from ResearchAndMarkets.com.
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The soft robotics market was rated with $ 1,049.05 million in 2020 and is expected to be achieved $ 6,369.04 million by 2026 with a CAGR of 35.17% in the forecast period (2021-2026).
Although soft robotics is still at an early stage, it is expected that the market penetration of soft robots will increase dramatically in the forecast period due to the many advantages that soft robots offer compared to conventional robots. Also, the global COVID-19 pandemic has increased the demand for automation to alleviate workforce challenges and improve plant and food safety in factory environments, which has led to the growth of the market.
Important market trends:
The factors driving the development of the Soft Robotics market include the increasing demand for security in the various end-user industries and the growing need for automation in industries such as food processing, e-commerce, etc. The growing investment / funding in research and development in various Nations is driving the growth of the soft robotics market.
Exoskeletons are an evolving technology that has the potential to protect and rescue warehouse and manufacturing workers from shoulder, back, and neck pain, and injuries associated with heavy and repetitive lifting. Various researchers are developing soft, wearable robots that mimic muscle movements. away April 2020, General Motors designed a battery-powered exoskeleton glove developed by the Swedish company Bioservo. The “Iron Hand” glove has sensors and motors in each finger that automatically react to a force that the glove wearer exerts on their hand when lifting or grasping.
The decline in sensor costs and the popularity of existing robots are clear signs that the robotics field is undergoing significant transformation and development. With the advent of self-learning soft robots through AI, the soft robotics market is expected to experience drastic changes in the forecast period. For example in February 2020, WITH Researchers enabled a soft robotic arm to understand its configuration in 3D space using only motion and position data from its sensorized skin. It uses flexible sensors and artificial intelligence models to inform robots of their body position in the 3D environment.
Also, despite the Covid-19 crisis, many R&D projects have been funded by various governments around the world to support the contribution of robotics and automation to industry and society. For example, China Made in strategic plan China 2025 includes advanced robots among top 10 core industries.
Despite the growing demand for these robots, there are only a handful of soft robots on the market and the manufacture of soft robots is not yet entirely conventional. However, given the aggressive research activity over the years, the scenario is likely to change.
The story goes on
The market has seen tremendous investments in the technical field and new entrants are expected to enter the market. Currently, soft robot manufacturers have very specific solutions and the market is moderately competitive. However, with the advent of big players in the robotics market, it is expected that entry into soft robotics will increase competition.
Key topics covered:
2 RESEARCH METHOD
4 MARKET INSIGHTS
4.1 Market overview
4.2 Analysis of the industry’s value chain
4.3 Industry Attractiveness – Porter’s Five Forces Analysis
4.4 Effects of Covid-19 on the market
5 MARKET DYNAMICS
5.1 Market drivers
5.1.1 Need for safer automation solutions
5.1.2 Need for human security in production units
5.1.3 More research and development from different countries
5.2 Market Restrictions
5.2.1 Lack of awareness and a single central regulator
6 TECHNOLOGY SNAPSHOT
7 MARKET SEGMENTATION
8 COMPETITIVE LANDSCAPE
9 INVESTMENT ANALYSIS
10 MARKET OPPORTUNITIES AND FUTURE TRENDS
Please visit https://www.researchandmarkets.com/r/wh6jnp for more information on this report
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SOURCE Research and Markets