(MENAFN- GlobeNewsWire - Nasdaq) Covina, Oct. 17, 2023 (GLOBE NEWSWIRE) -- Soft Robotics are growing field that relies on mimicking mechanism of locomotion of soft bodies which exist in nature for achieving smooth and complex motion. They create systems with improved performance of movement and adaptability in challenging, unknown, environment with higher level of safety.
The need for human safety in manufacturing units has provided lucrative opportunities in target market growth. Further, the increasing need for automation in industries like food processing, e-commerce, etc. is likely to propel market growth. Increased investments/funding in research and development across nation's fuels the growth of the Soft Robotics market .
Key Highlights:
In September 2021, Soft Robotics Inc., launched its new 'SoftAI Solutions' to accelerate the adoption of robotics technology in food processing industries. The new launched technological innovation will drive the broad-scale adoption of automation which results in more resilient food supply chain that reduces waste, produces safer products at higher volumes with lower operational costs.
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Major players
The prominent player operating in the global Soft Robotics market includes,
Soft Robotics Inc Fanuc RightHand Robotics Ekso Bionics Holdings Bionik Laboratories ABB KUKA ReWalk Robotics Cyberdyne Yaskawa Electric.
The market provides detailed information regarding industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory framework across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included into the report.
Analyst View:
The easy availability of proficient technical expertise in developed countries and presence of major players has contributed in Soft Robotics market growth. Prominent players operating in the target market are focusing on the strategic partnerships as well as launching of the products in order to gain competitive edge in the target market.
Key Market Insights from the report:
The market report has been segmented on the basis of application, and region.
By application, minimally invasive surgery (MIS) is one of the research areas with the big potential of adopting soft robotics. This is because it overcomes the limitation of traditional MIS methods such as a low degree of freedom. By region, North America is expected to hold highest revenue share, owing to high concentration of market players and easy availability of proficient technical expertise.
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The soft robotics market is witnessing rapid growth and innovation, driven by various trends and drivers that reflect the evolving needs and technological advancements in robotics and automation. Some of the key trends and drivers in the soft robotics market include:
Versatility and Flexibility: Soft robots are highly versatile and adaptable, making them suitable for a wide range of applications. Their flexibility enables them to interact safely with humans and navigate complex and unstructured environments, which is particularly valuable in fields such as healthcare, logistics, and manufacturing.
Human-Robot Collaboration: Collaborative robots, or "cobots," are increasingly being integrated into various industries, including manufacturing, healthcare, and logistics. These robots can work alongside human operators, enhancing productivity and safety.
Medical and Healthcare Applications: Soft robotics has found significant traction in the medical field, with applications like surgical robots, assistive devices for individuals with mobility impairments, and exoskeletons for rehabilitation and support.
Growth in Assistive Devices: Soft robotic devices for assistive purposes, such as wearable exoskeletons, are becoming more prevalent. These devices aid people with mobility issues and help reduce the physical strain on caregivers.
Bioinspired Designs: Nature-inspired designs, such as those modeled after the movement of animals and organisms, are being used to develop more efficient and effective soft robots. These designs enable better locomotion and functionality.
Miniaturization: Miniaturization of soft robotics components and systems is a trend, particularly in the context of medical applications and minimally invasive procedures.
Advanced Materials: Advancements in soft and flexible materials, including smart materials, shape-memory polymers, and conductive textiles, are driving innovation in soft robotics. These materials enhance the performance and capabilities of soft robots.
AI and Machine Learning Integration: The integration of artificial intelligence (AI) and machine learning into soft robots enables autonomous decision-making and adaptation to changing environments. Soft robots can learn and improve their performance over time.
Safety and Compliance: Soft robots are designed with safety in mind, which is essential when working in close proximity to humans. Compliance with safety standards and regulations is a key driver in the development and adoption of soft robotics.
Logistics and Warehouse Automation: Soft robots are increasingly being used in logistics and warehousing for tasks like picking and packing, which require dexterity and adaptability.
Environmental Concerns: The push for more sustainable and eco-friendly technologies is driving innovation in soft robotics. These robots tend to be more energy-efficient and produce fewer emissions compared to traditional robotics.
Cost Reduction: Efforts to reduce the cost of soft robotic components and systems are making them more accessible to a broader range of industries and applications.
Market Competition: The competitive landscape in the soft robotics market is intense, with both established companies and startups vying for market share. This competition is leading to continuous innovation and product development.
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