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Modular Robotics Market Demand, Growth and Development Forecast 2021-2030

10-14-2021 05:42 AM CET | IT, New Media & Software

Press release from: Next Move Strategy Consulting

Modular Robotics Market Demand, Growth and Development

The Global Modular Robotics Market size was valued at USD 5.56 billion in 2020 and is predicted to reach USD 16.73 billion by 2030 with a CAGR of 12.0% from 2021-2030.

Modular robots generally refer to self-configuring robots, comprising of numerous independent units with no fixed morphology. They can perform various tasks by rearranging themselves through autonomous and dynamic changes in their geometric structures. Modular robots can form a large single model for specific applications through continuous combination and recombination, or divide into small identical models for mass production. Since these robots are made up of many identical atoms, they can be easily repaired by replacing damaged atoms with functional ones. Modular robots are widely getting adopted in automotive, manufacturing, healthcare, and many other industries due to their flexibility, robustness, and optimized working.

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Top Companies: ABB Ltd., KUKA AG, Advanced Intelligent Systems, Mitsubishi Electric Corp., FANUC Corp., Motiv, Kawasaki Heavy Industries Ltd., Yaskawa Electric Corp., Universal Robots, Denso Corp., Rethink Robotics and Nachi-Fujikoshi Corp. and others.

The global modular robotics market has been segmented by type, by payload capacity, by end user and geographies. Based on type, the market is segmented into SCARA modular robots, articulated modular robots, collaborative modular robots, cartesian modular robots, parallel modular robots and others (spherical and cylindrical). On the basis of payload capacity, the market is divided into 1-16 Kg, 16.1-60 Kg, 60.1-225 Kg and more than 225 Kg. On the basis of end user, the market is divided into logistics, aerospace & defense, healthcare, food & beverages, automotive & transportation, manufacturing, media & entertainment and others. Geographic breakdown and analysis of each of the aforesaid segments includes regions comprising North America, Europe, Asia Pacific, and Rest of the World.

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North America holds the lion share of modular robotics market during the forecast period due to high adoption rate of autonomous and advanced robots across the region. In addition, innovations in gripping systems and related technologies have also promoted the growth of modular collaborative robots market in this region.

However, Asia-Pacific is expected to dominate the modular robotics market during the forecast period. It is estimated that the increasing adoption of robots in the electronics and automotive industries will create profitable growth opportunities for the modular robot market in this region. Also, East Asia is designated as an attractive region for the modular robot market due to the increased adoption of factory automation. Moreover, factors such as increased IT investment supported by various government programs in developing countries such as China, Singapore, India and South Korea are expected to drive growth in the region.

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About Next Move Strategy Consulting:

Next Move Strategy Consulting is an independent and trusted third-platform market intelligence provider, committed to deliver high quality, market research reports that help multinational companies to triumph over their competitions and increase industry footprint by capturing greater market share. Our research model is a unique collaboration of primary research, secondary research, data mining and data analytics.

We have been servicing over 1000 customers globally that includes 90% of the Fortune 500 companies over a decade. Our analysts are constantly tracking various high growth markets and identifying hidden opportunities in each sector or the industry. We provide one of the industry’s best quality syndicate as well as custom research reports across 10 different industry verticals. We are committed to deliver high quality research solutions in accordance to your business needs. Our industry standard delivery solution that ranges from the pre consultation to after-sales services, provide an excellent client experience and ensure right strategic decision making for businesses.

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