Adaptive Robot Market - Size, Share, Industry Trends, and Forecasts (2023 - 2031)

By Type :

Based on the type, the market is segmented into grippers, wearable robots, and others. The grippers segment accounted for the largest revenue share in the year 2022 of the global adaptive robot market. They are designed for handling delicate objects without causing damage. Moreover, they have considerable flexibility that enables the robot to grasp a variety of objects. The high flexibility, versatility, adaptability, and dexterity are key determinants for increasing their application in food & beverage, logistics, retail & e-commerce, and manufacturing sectors among others.

For instance, ROBOTIQ offers a range of adaptive grippers in its product portfolio including a 3-finger adaptive robotic gripper and a Hand-E adaptive gripper among others. The adaptive grippers are designed for assembly and pick & place applications in industrial facilities. Thus, the segmental trends analysis shows that the rising development of adaptive grippers for utilization in industrial applications is among the prime factors driving the adaptive robot market demand.

The wearable robots segment is anticipated to register the fastest CAGR during the forecast period. They refer to a particular type of wearable device that is optimized to enhance a person's motion or physical abilities. Moreover, they are designed to assist impaired limbs, boost human ability, or help with the rehabilitation of neuromuscular impairments. Additionally, they offer several benefits including lightweight, increased functionality and mobility, ease of wear and removal, along continuous adaptability to evolving consumer demands. The above benefits are vital prospects driving its adoption in healthcare and other industrial sectors.

In September 2019, Hyundai launched its new wearable robot, the vest exoskeleton which is particularly developed for assisting industrial workers spending long hours working in overhead environments. The wearable robot helps improve productivity and reduce fatigue of industrial workers by imitating the movement of human joints to augment mobility and load support. Hence, analysis of segmental trends portrays that, the rising innovations associated with wearable robots are among the key factors driving the adaptive robot market opportunities.

By Component :

Based on components, the market is bifurcated into hardware and software. The hardware segment accounted for the largest revenue share in 2022 of the total adaptive robot market share. The primary hardware components include motors, sensors, microphones, actuators, cameras, and others. The hardware components help in enhancing the capabilities of the robot.

For instance, in December 2022, SMAC Corporation launched its LPL series of linear actuators that are particularly designed for utilization in robotic arms. The LPL series actuators deploy SMAC's moving coil linear servo motors for precision control in multiple industrial applications including pick-and-place tasks, parts finishing, and assembly operations among others. Therefore, the rising innovations associated with hardware components are proliferating the adaptive robot market trends.

The software segment is expected to witness the fastest CAGR during the forecast period. The software consists of a set of coded commands or instructions that guide the robot with the required tasks that it needs to perform. Software is primarily used for performing autonomous tasks and consists of frameworks that make the programming of robots easier.

In July 2023, BOW released its BETA version of a robotics software engine that enables users to code robots in two different programming languages and is further integrated with a custom Webots simulator. Thus, the segment analysis shows that the rising advancement associated with robotics software is anticipated to boost the adaptive robot market expansion during the forecast period.

By End-User :

Based on the end-user, the market is segregated into retail & e-commerce, transportation & logistics, food & beverage, healthcare, manufacturing, and others. The manufacturing segment accounted for the largest revenue share of 31.82% in the year 2022 of the overall adaptive robot market share. Factors including the rising pace of industrialization, increasing investments in the expansion of industrial manufacturing facilities, and the rising trend of industrial automation fueled by Industry 4.0 are driving the manufacturing segment.

According to the Federal Ministry for Economic Affairs and Climate Action of Germany, annual investments by the German manufacturing sector in Industry 4.0 applications will reach up to USD 49 billion by 2020. Hence, the growing manufacturing sector is driving the application of robots in manufacturing plants and warehouses for handling, picking, assembly, and packaging applications, in turn contributing to the adaptive robot market trends.

The healthcare segment is expected to witness the fastest CAGR during the forecast period. The growing healthcare segment is primarily driven by multiple factors including increasing incidence of diagnostics and surgical procedures, growing trends in healthcare expenditure, and rising investments in advanced medical equipment.

For instance, according to the European Commission, the total government healthcare expenditure in the EU reached up to USD 202.7 billion in 2021, accounting for 8.1% of the total GDP. Therefore, increasing investments in the healthcare sector are projected to increase the deployment of these robots for utilization in rehabilitation, diagnostic, and surgical procedures among others, thereby, driving the adaptive robot market expansion during the forecast period.

By Region :

The regional segment includes North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America.

North America is estimated to reach over USD 15,540.45 Million by 2031 from a value of USD 1,992.18 Million in 2022 and is projected to grow by USD 2,461.11 Million in 2023.

As per the adaptive robot market analysis, the growth in North America is primarily driven by the deployment of robots in food & beverage, transportation & logistics, healthcare, and other industries. Additionally, the increasing application of these robots in food & beverage plants for picking, moving, assembling, and packing finished products is among the vital factors driving the market in the region.

For instance, in August 2021, Tyson Foods, invested USD 300 million to build a food processing facility in Virginia, U.S. The facility is scheduled to be operational in 2023. The above factors are fostering the growth of the adaptive robot market in the North American region. Furthermore, analysis of regional trends shows that the increasing investment in retail & e-commerce and logistics sectors is a vital factor expected to drive market growth in North America during the forecast period.

Asia-Pacific is expected to grow with the highest CAGR of 26.3% and is estimated to reach over USD 12,380.28 Million by 2031 from a value of USD 1,546.04 Million in 2022 and is projected to grow by USD 1,914.22 Million in 2023. In addition, in the region, China accounted for the maximum revenue share of 35.10% in the same year.

The growing pace of industrialization and development is creating lucrative growth prospects for the market in the region. Additionally, factors including the growth of multiple industries such as retail & e-commerce, manufacturing, and others are fostering the adaptive robots market in the Asia-Pacific region.

For instance, in April 2022, the Indian Government announced the launch of an online retail network across 100 cities in India, to provide consumers with an alternative to multinational platforms including Amazon and Flipkart. Thus, the regional trends show that the growing retail & e-commerce sector is anticipated to drive the utilization of these robots in retail warehouses for automating the processes involved in picking, handling, and packaging retail goods and products, in turn proliferating the market in the Asia-Pacific region during the forecast period.