Modular Robotics Market Size & Growth Analysis to 2030

The global modular robotics market size is accounted to register a significant CAGR of around 10% during the forecast period 2021 to 2027. The rising penetration of IoT (Internet of Things) devices in the manufacturing process is one of the key factor to drive the market growth. Furthermore, the increasing manufacturers focus to enhance productivity and reduce the operational cost is further anticipated to fuel the market growth. Moreover, technological advancement and the increasing adoption of the product in various end-use industries are expected to propel the market over the forecast period. However, the complexity of modular robotics and high initial cost are some major factors to restrain the market growth.

Market Drivers

Flexibility and Scalability: Modular robotics offers the advantage of flexibility and scalability in robot design and deployment. With modular systems, robots can be easily customized, reconfigured, and expanded to adapt to various applications and changing requirements. The ability to quickly and cost-effectively modify and scale robotic systems drives the adoption of modular robotics.

Cost-Efficiency: Modular robotics can provide cost advantages compared to traditional robotic systems. The modular approach allows for the reuse of common components across different robot configurations, reducing development costs. Additionally, modular systems enable incremental investment, allowing organizations to start with a smaller robot configuration and expand as needed, optimizing cost efficiency.

Ease of Maintenance and Upgrades: Modular robotics simplifies maintenance and upgrades of robotic systems. Since modules can be easily replaced or upgraded, maintenance can be performed without significant downtime. This reduces the overall maintenance costs and enhances the productivity of the robotic systems.

Enhanced Adaptability: Modular robotics enables robots to adapt to a wide range of tasks and environments. By swapping or reconfiguring modules, robots can be optimized for different applications, such as material handling, assembly, inspection, or even specialized tasks in specific industries. The adaptability of modular robotics drives its adoption across diverse industries and applications.

Collaborative Robotics: Collaborative robots, or cobots, are designed to work alongside humans, enhancing productivity and safety in shared workspaces. Modular robotics plays a crucial role in the development of collaborative robots, allowing for easy integration of safety features, sensors, and specialized end-effectors. The demand for collaborative robots and the flexibility they offer contribute to the growth of the modular robotics market.

Technological Advancements: Technological advancements in areas such as sensors, artificial intelligence (AI), machine learning, and connectivity drive the development and adoption of modular robotics. These advancements enable enhanced perception, decision-making, and autonomous capabilities in modular robotic systems, expanding their potential applications and market opportunities.

Industry 4.0 and Automation: The rise of Industry 4.0 and the increasing adoption of automation in industries drive the demand for flexible and adaptive robotic systems. Modular robotics aligns with the principles of Industry 4.0, enabling seamless integration with other automation technologies, data exchange, and intelligent manufacturing systems. The modular approach fits well within the framework of smart factories and the automation requirements of modern industries.

Increasing Labor Costs and Workforce Shortages: Rising labor costs and shortages in certain industries create a need for automation solutions, including modular robotics. By automating repetitive or physically demanding tasks, modular robotics can help address labor challenges, improve productivity, and reduce operational costs.

Growing Demand in E-commerce and Logistics: The e-commerce sector is witnessing significant growth, driving the demand for efficient order fulfillment and logistics operations. Modular robotics systems offer flexibility, adaptability, and scalability in warehouse automation, order picking, sorting, and packaging processes. The need for automation solutions in the e-commerce and logistics industries fuels the adoption of modular robotics.

Research and Development Initiatives: Continued research and development efforts in modular robotics, including advancements in modular design, control algorithms, and software frameworks, contribute to the expansion of the modular robotics market. Collaborations between academic institutions, research organizations, and industry players drive innovation and push the boundaries of modular robotics capabilities.

Market Snapshot

Market Insights:

The global modular robotics market is bifurcated into component, robot type, end-User, and geography. On the basis of components, the market is further segmented into hardware, software, and services. The hardware segment dominated the global market and estimated to hold the largest revenue share of over half of the market. On the other hand, the software segment is accounted to grow at a significant growth rate due to the increasing demand to check real-time functioning and the rising adoption of IoT and AI technologies.

On the basis of end-user, the global modular robotics market is segmented into food & beverages, automotive, healthcare, electrical & electronics, chemicals, metals & machinery, and others. The automotive industry is expected to witness significant growth over the forecast period. The increasing demand for automobiles and the rising adoption of these robots to handle heavy automotive parts are some major factors to drive the segment growth. Furthermore, the benefits associated with the product such as speedy production, high accuracy, agility, and flexibility are expected to fuel the segment growth over the forecast period.

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The modular robotics comprehensive study offers an in-depth analysis of industry trends, market size, competitive analysis, and market forecast – 2021 to 2027. Research Corridor report provides detailed premium insight into the global market and reveals the potential revenue streams, commercial prospects, market drivers, challenges, opportunities, issues, and events affecting the industry. In addition, the report has a dedicated section covering market forecasts and analysis for leading geographies, profiles of major companies operating in the market and expert opinion obtained from interviews with industry executives and experts from prominent companies.

The modular robotics market research report presents the analysis of each segment from 2018 to 2027 considering 2020 as the base year for the research. The compounded annual growth rate (CAGR) for each respective segment is calculated for the forecast period from 2021 to 2027.

Historical & Forecast Period

• 2018-19 – Historical Year
• 2020 – Base Year
• 2021-2027 – Forecast Period

Market Segmentation:

By Component:

• Hardware
• Software
• Services

By Robot Type:

• Articulated Modular Robots
• Cartesian Modular Robots
• SCARA Modular Robots
• Parallel Modular Robots
• Collaborative Modular Robots

By End-User:

• Food & Beverages
• Automotive
• Healthcare
• Electrical & Electronics
• Chemicals
• Metals & Machinery
• Others

By Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

Geographic Coverage

Geographically, the Asia Pacific dominated the global modular robotics market in 2020 and estimated to maintain its dominance over the forecast period. The rapid growth in industrial automation is one of the major factor to drive the market growth in the region. Furthermore, the increasing adoption of modular robotics in the automotive and healthcare industry is further anticipated to fuel the market in the Asia Pacific. Moreover, the rising shift towards industry 4.0, strong investment in research and development, and the presence of some major players are expected to boost the market growth in the Asia Pacific.

Competitive Assessment

Some of the major market players operating in the global modular robotics market are ABB Ltd., Kuka AG, Fanuc Corporation, Mitsubishi Electric Corporation, and Robosynthesis. Companies are exploring markets through expansion, new investment, the introduction of new services, and collaboration as their preferred strategies. Players are exploring new geography through expansion and acquisition to gain a competitive advantage through joint synergy.

Key Companies:

• ABB Ltd.
• Kuka AG
• Fanuc Corporation
• Mitsubishi Electric Corporation
• Robosynthesis
• Yaskawa Electric Corporation
• Comau Group
• OTC Daihen Inc.
• Denso Corporation
• Kawasaki Heavy Industries Ltd.

Key Questions Answered by Modular Robotics Market Report

• Global modular robotics market forecasts from 2021-2027
• Regional modular robotics market forecasts from 2021-2027 covering Asia-Pacific, North America, Europe, Middle East & Africa, and Latin America
• Country-level forecasts from 2021-2027 covering 15 major countries from the aforementioned regions
• Modular robotics submarket forecasts from 2021-2027 cover the market by component, by robot type, by end-user, and geography
• Various industry models such as SWOT analysis, Value Chain Analysis pertaining to the modular robotics market
• Analysis of the key factors driving and restraining the growth of the global, regional and country-level modular robotics markets from 2021-2027
• Competitive Landscape and market positioning of top 10 players operating in the modular robotics market