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2023 Modular Robotics Market - By Latest Trends, Technological Advancement, Driving Factor And Forecast until 2032
Modular Robotics Market
The Business Research Company's Modular Robotics Global Market Report 2023 identifies increasing adoption of robots in the electronics and automotive industries as the major driver for the Modular Robotics market's growth in the forecast period. Robots are being adopted by the automotive and electronics industries for automation. By increasing automation in a factory, modular robotics decreases costs and improves efficiency in the automotive industry. Modular robots are also used in electronics manufacturing for lean production time and reducing costs.
The global modular robotics market size is expected to grow from $7.01 billion in 2022 to $8.16 billion in 2023 at a compound annual growth rate (CAGR) of 16.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The modular robotics market size is expected to grow to $15.8 billion in 2027 at a CAGR of 15.8%.
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Major competitors in the Modular Robotics market are Mitsubishi Electric Corporation, Yaskawa Electric Corporation, Kawasaki Heavy Industries Limited, Universal Robots, DENSO Corporation.
A key trend in the Modular Robotics market includes advanced technology. Major companies operating in the modular robotics market are advancing toward the use of cost-effective technologies to gain a competitive edge in the market. For instance, in May 2020, Motiv Space Systems, a US-based company developing and building space-based robotic systems, launched the xLink Robotic Arm System, a space-rated modular robotic arm system. It can accommodate nearly every current or planned application for space-rated robotic manipulation.
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https://www.thebusinessresearchcompany.com/report/modular-robotics-global-market-report
The Modular Robotics market is segmented -
• By Product Type: SCARA Modular Robots, Articulated Modular Robots, Cartesian Modular Robots, Parallel Modular Robots, Other Robots
• By Hardware Design: Chain-based, Lattice-based, Strut-based
• By Configuration: Auto-Configuration, Manual Configuration
• By End Use Industry: Automotive, Electronics and Electrical, Chemical, Food and Beverages, Pharmaceutical, and Other End Use Industries
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the Modular Robotics market.
The Business Research Company's "Global Modular Robotics Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Modular Robotics Market Include:
1. Executive Summary
2. Modular Robotics Market Characteristics
3. Modular Robotics Market Trends And Strategies
4. Modular Robotics Market - Macro Economic Scenario
5. Modular Robotics Market Size And Growth
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26. Africa Modular Robotics Market
27. Modular Robotics Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Modular Robotics Market
29. Modular Robotics Market Future Outlook and Potential Analysis
30. Appendix
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