According to the MarkNtel Advisors’ research report, “Global Intelligent Soft Robotics Market Analysis, 2021,” the market is likely to grow at a CAGR of around 37% in the forecast period of 2021-26. It owes to the growing number of benefits from the adoption of robots to expand the production process. Robots reduce the need for labor and promote production scalability. Furthermore, the rapidly developing robotic technology offers various features & high potential for improving productivity and decreasing human efforts.
|Study Period||Historical Data: 2016-19|
|Base Year: 2020|
|Forecast Period: 2021-26|
|Regions Covered||North America: USA, Canada|
|Europe: Germany, UK, Sweden, Switzerland, Italy|
|Asia-Pacific: China, India, Japan, South Korea, Australia|
|South America: Brazil|
|Middle East & Africa: Saudi Arabia, South Africa|
|Key Companies Profiled||Universal Robots A/S, Techman Robot, ABB Ltd., FANUC Corporation, KUKA AG, Yaskawa Electric Corporation, AUBO Robotics Inc., Kawasaki, ReWalk Robotics Ltd, Rethink Robotics, RightHand Robotics Inc., Soft Robotics Inc., Inc., F&P Robotics AG, Ekso Bionics Holdings, and KAWADA Robotics Corporation|
|Unit Denominations||USD Million/Billion|
Impact of COVID-19
The COVID-19 pandemic negatively impacted the global market and presented diverse industrial challenges, such as low availability of raw material, contractual obligations, and delays & cancellations of projects due to the lockdown imposition across regions. Furthermore, the production units for soft robotics got suspended, and supply chain management was interrupted exceedingly. However, the market restarted its functioning while abiding by the guidelines circulated by governments and shall regain its pace in the forecast years.
Mobile Soft Robots Attains for the Largest Market Share
Based on Mobility, the market segments into Stationery Soft Robots and Mobile Soft Robots. Of both, Mobiles Soft Robots attained the maximum market share due to the burgeoning demand for flexible & autonomous robots. Furthermore, with the rising demand for the internet of things (IoT), the mobility trend has evolved widely in recent years. Hence, with the growing propagation of devices, mobile robots are also gaining a lot of prevalence across the global market. Therefore, they are likely to continue attaining the largest market share in the coming years.
Logistics to Witness the Fastest Market Growth
Based on the End-User, the Logistics segment is likely to witness the fastest market growth in the forthcoming years due to a significantly growing requirement for mobile Automated Guided Vehicles (AGVs) in storage & warehouse amenities to transport goods across regions. The robots bring substantial profits by diminishing human errors and warehouse expenses. Thus, the Logistics segment is likely to drive the growth of the global market in the forecast period, reveals MarkNtel Advisors in their research report, “Global Intelligent Soft Robotics Market Analysis, 2021.”
North America Likely to Dominate the Market
North America is likely to dominate the market and register the fastest growth in the Global Intelligent Soft Robotics Market due to the availability of multiple automated manufacturing industries & market players and an increasing number of warehouses & distribution centers. Furthermore, the easy availability of technical expertise, adoption of new technologies, and the surging advancements in soft robotics are other crucial factors likely to contribute to the overall market growth in the region.
The most prominent factor driving soft robotics market growth is the mounting requirements for safety in numerous end-user industries. Likewise, the expanding demand for automation in areas like e-commerce, food processing, and the massive funding by governments and several high-tech market players in research & development shall also fuel the overall growth of the soft robotics market.
According to MarkNtel Advisors, the leading players in the Global Intelligent Soft Robotics market include Universal Robots A/S, Techman Robot, ABB Ltd., FANUC Corporation, KUKA AG, Yaskawa Electric Corporation, AUBO Robotics Inc., Kawasaki, ReWalk Robotics Ltd., RightHand Robotics Inc., F&P Robotics AG, Ekso Bionics Holdings, KAWADA Robotics Corporation.
Key Questions Answered in the Market Research Report:
Market Outlook, Segmentation, and Statistics
Frequently Asked Questions
A. The Global Intelligent Soft Robotics Market is likely to grow at a CAGR of around 37% in the forecast years of 2021-26.
A. Universal Robots A/S, Techman Robot, ABB Ltd., FANUC Corporation, KUKA AG, Yaskawa Electric Corporation, AUBO Robotics Inc., Kawasaki, ReWalk Robotics Ltd, Rethink Robotics, RightHand Robotics Inc., Soft Robotics Inc., Inc., F&P Robotics AG, Ekso Bionics Holdings, and KAWADA Robotics Corporation are few of the leading players in the Global Intelligent Soft Robotics Market.
A. Mobile Soft Robots is likely to attain the highest CAGR during the forecast period and maintain its significant market share
A. North America continues to grow at the highest CAGR in the forecast period of 2021-26, presenting immense opportunities for market players of the Global Intelligent Soft Robotics Market.
A. The mounting requirement for safety in numerous end-user industries, expanding automation needs in areas like e-commerce, food processing, and the rising investments by governments for R&D shall drive the overall growth of the soft robotics market.
A. The upliftment of lockdown is likely to reconnect the supply chain, and the market shall restart its functioning by abiding by the guidelines circulated by governments. Hence, the global market shall regain its pace in the forecast years.