Spintronic Logic Devices Market

Soft Robotics Market by Type, Component, and End User: Opportunity Analysis and Industry Forecast, 2020-2027.

PORTLAND, OR, UNITES STATES, September 26, 2023 /EINPresswire.com/ -- According to a new report published by Allied Market Research, titled, “Soft Robotics Market Technology, Application, and End User: Global Opportunity Analysis and Industry Forecast, 2020–2027,”

The global soft robotics market size was valued at $573.8 billion in 2019, and is projected to reach at $3.41 billion by 2027, growing at a CAGR of 30.7% from 2020 to 2027.

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A soft robotics, which is sometimes known as biologically inspired robots, is an electronic device that offers extraordinary solutions such as smooth touches, manipulation and grasping of fragile objects, and safe interaction for humans. Soft robotics can perform complex tasks; thereby, offering cost-efficient flexible production. For instance, soft robotics installed in the healthcare sector is made of material similar to human soft tissues. Subsequently, each device used in medical industries is analyzed for engineering and clinical significance. Furthermore, soft robotics is widely used across packing and packaging, mining, surgery, laboratory research, and other industries.

The surge in the innovation of next-generation healthcare technology is one of the key drivers for the growth of the soft robotics market. Moreover, the enhancement of resilient supply chains across logistic and food & beverage industries boosts the market growth. However, the high cost of soft robotics products in developing countries is a major hurdle for early adoption. Further, innovation in soft robotics for small and medium-sized companies is expected to provide lucrative opportunities for the global soft robotics industry during the forecast period.

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Competitive Analysis:
The competitive environment of Soft Robotics Industry is further examined in the report. It includes details about the key players in the market's strengths, product portfolio, Soft Robotics Market share and size analysis, operational results, and market positioning. It comprises the actions taken by the players to grow and expand their presence through agreements and entering new business sectors. Mergers and acquisitions, joint ventures, and product launches are some of the other techniques used by players.

Some of the major key players of the Soft Robotics Market include:
· Bioservo technologies AB
· Cyberdyne Inc
· Ekso bionics Holdings, Inc
· F&P Robotics AG
· Festo AG
· Rewalk Robotics Ltd
· Righthand Robotics Inc
· Roam Robotics
· Soft Robotics Inc
· Yaskawa Electric Corporation

Significant factors that impact the growth of the global soft robotics industry include rise in exoskeleton innovation in the healthcare sector, surge in penetration of AI-based technologies, and increase in industrialization in the automation sector. However, high cost of sift robotics in developing countries acts as a major barrier for early adoption, which hampers the growth of the market. On the contrary, innovation of robotic in small and medium-sized companies and industrial sectors is anticipated to provide lucrative opportunities for the soft robotics market during the forecast period.

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Key Benefits For Stakeholders

This study comprises analytical depiction of the global soft robotics market size along with the current trends and future estimations to depict the imminent investment pockets.
The overall global soft robotics market analysis is determined to understand the profitable trends to gain a stronger foothold.
The report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.
The current global soft robotics market forecast is quantitatively analyzed from 2019 to 2027 to benchmark the financial competency.
Porter’s five forces analysis illustrates the potency of the buyers and suppliers in the global soft robotics market.
The report includes the global soft robotics market share of key vendors and market trends.

David Correa
Allied Market Research
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