Adaptive Robot Market Size & Industry Share - Growth Trends & Forecasts (2023 - 2031)

Based on the 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. Adaptive grippers are designed for handling delicate objects without causing damage. Moreover, adaptive grippers 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 application of adaptive grippers 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 3-finger adaptive robot gripper and Hand-E adaptive gripper among others. The adaptive grippers are designed for assembly and pick & place applications in industrial facilities. Thus, the rising development of adaptive grippers for utilization in industrial applications is among the prime factors driving the growth of the market.

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

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

Based on the Component :

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

For instance, in December 2022, SMAC Corporation launched its LPL series of linear actuators that is 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 used in adaptive robots are proliferating the growth of the market.

Software segment is expected to witness fastest CAGR growth during the forecast period. Software for adaptive robots consists of a set of coded commands or instructions that guides 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 programming of robots easier.

In July 2023, BOW released its BETA version of 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 rising advancement associated with robotics software is anticipated to boost the growth of the segment during the forecast period.

Based on the 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. Factors including the rising pace of industrialization, increasing investments in expansion of industrial manufacturing facilities, and rising trend of industrial automation fueled by Industry 4.0 are driving the growth of the manufacturing segment.

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

Healthcare segment is expected to witness fastest CAGR growth during the forecast period. The growth of healthcare segment is primarily driven by multiple factors including increasing incidence of diagnostics and surgical procedures, growing trend 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 healthcare industry is projected to increase the deployment of adaptive robots for utilization in rehabilitation, diagnostic, and surgical procedures among others, thereby, driving the market growth during the forecast period.

Based on the Region :

The regional segment includes North America, Europe, Asia Pacific, 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.

The market growth of adaptive robots 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 adaptive robots in food & beverage plants for picking, moving, assembling, and packing of finished products is among the vital factors driving the market growth 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, 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 growth 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, the 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 market growth for adaptive robots 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, with the aim of providing consumers with an alternative to multinational platforms including Amazon and Flipkart. Thus, the growing retail & e-commerce sector is anticipated to drive the utilization of adaptive robot in retail warehouses for automating the processes involved in picking, handling, and packaging of retail goods and products, in turn proliferating the market growth in the Asia-Pacific region during the forecast period.