Explosive Growth Predicted in Modular Robotics Market: Anticipated CAGR of 18% with Market Valued at US$ 47.68 Billion by 2032

The Modular Robotics Market report, unveiled by Future Market Insights-an ESOMAR Certified Market Research and Consulting Firm-presents invaluable insights and meticulous analysis of the Modular Robotics market. Encompassing the research's scope and essence, this report scrupulously examines the driving factors, market size, and predictive data for Modular Robotics. It furnishes intricate revenue and shipment segmentations, accompanied by a decade-long projection up to 2032. Additionally, the document evaluates key industry players, their market distribution, the competitive scenario, and regional perspectives.

The Modular Robotics Market is witnessing a transformative phase driven by the inherent flexibility and adaptability of modular robotic systems. These systems bestow a unique versatility upon individual robots, empowering them to seamlessly undertake a multitude of tasks. Central to this advancement is the integration of modular grippers within the robotic systems, a technological marvel that ushers in distributed sensing actuation.
During the forecast period, the modular robotics market is anticipated to grow at a healthy CAGR of 18%. The market for modular robotics is anticipated to be worth US$ 9.11 billion in 2022 and US$ 47.68 billion by 2032.

The modularity in the robotic system grants flexibility to a single robot and allows it to perform multiple tasks. The modular robotic system is equipped with a modular gripper that is capable of grasping a fragile object using distributed sensing actuation.

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With the several functional advantages such as morphologically adaptive nature, potentially robust, and self-repair, modular robotics systems are gaining traction in the market. Owing to the increasing demand for modular robotics in the electronics and automotive industry, various manufacturers are focusing on developing a specific product that has high efficiency in these industries.
The modular robotics manufacturers are engaged in research & development activities for improving the structure and design of the modular robotics systems. Modular robotics are mainly used in critical applications such as space exploration, accessing dangerous area, search & rescue, accessing tight spaces, an inspection of tubes & bridges.

Here are some key takeaways on the modular robotics market:

• The modular robotics market is expected to grow significantly in the coming years due to factors such as increasing demand for automation, advancements in artificial intelligence, and the need for flexible and customized manufacturing solutions.

• Modular robots are highly versatile and can be easily customized and reconfigured to suit different applications, making them ideal for use in industries such as automotive, electronics, and pharmaceuticals.

• The Asia-Pacific region is expected to dominate the market due to the presence of key manufacturers and increasing demand for automation in industries such as automotive, electronics, and healthcare.

• Key players in the modular robotics market include ABB Ltd., FANUC Corporation, KUKA AG, Yaskawa Electric Corporation, Mitsubishi Electric Corporation, and Universal Robots A/S.

• The market is also seeing the emergence of several startups that are developing innovative modular robotic solutions for various industries.

• Modular robotics is being increasingly used in collaborative applications where robots work alongside human workers, creating safer and more efficient work environments.

Modular Robotics Market: Dynamics

An increase in productivity, a decrease in rejection rate and scalability of operations are key benefits that propel the adoption of modular robotics in various industries including the automotive industry, chemical industry across the globe. Modular robots are flexible, versatile, and easily configurable. This factor is resulting in prominent demand generation for modular robotics over the few years. Lattice-based modules are widely used in end-use industries than that of chain-based modules, as they are capable of connecting more than two modules simultaneously.

Modular robots are expected to create significant opportunities in the electronics industry with the ability to improve the efficiency of the fabrication process and integrity of the production process. The cost of skilled labor is increasing at a significant rate even in low-cost carrier countries such as China and India. Owing to the increasing labor costs, the payback for modular robotics and industrial automation is gaining more traction in the market.

The cost of appropriate solution development for specific use is substantially high in modular robotics, which makes it difficult from adhering to budget constraints for most of the small & mid-size organizations. Also, factors such as high maintenance costs, lack of awareness will stagnant the growth of the global modular robotics market.

Modular Robotics: Regional Market Outlook

In the Asia Pacific, increasing the adoption of robots in the electronics and automotive industries is estimated to create lucrative growth opportunities in the modular robotics market. In the Asia Pacific, East Asia is stipulated to be an attractive region for the modular robotics market owing to the increasing factory automation rate. China is expected to show lucrative growth opportunities in the market due to heavy investment in industrial automation. North America is expected to show a significant share in the modular robotics market due to the high adoption rate of autonomous and advanced robots across the region. Regions including Middle East Africa and Latin America are predicted to have healthy growth in the global modular robotics market.

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Modular Robotics: Market Key Players
Examples of some of the market participants identified in the global modular robotics market are:
• ABB Ltd.
• FANUC Corporation
• Mitsubishi Electric Corporation
• Yaskawa Robotics
• Kawasaki Heavy Industries, Ltd.
• Aurotek Corporation
• Universal Robots
• DENSO
• A.C.M.I. spa
• CMA Robotics Spa
• Rethink Robotics GmbH

The Modular Robotics research report presents a comprehensive assessment of the Modular Robotics market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The Modular Robotics research report provides analysis and information according to market segments, such as geographies, application, and industry.

The global report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The Modular Robotics report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.

Key Segments

By Product Type:
• SCARA Modular Robots
• Articulated Modular Robots
• Cartesian Modular Robots
• Parallel Modular Robots

By Hardware Design:
• Chain-based
• Lattice-based
• Strut-based

By Configuration:
• Auto-Configuration
• Manual Configuration

By End Use Industry:
• Automotive
• Electronics & Electrical
• Chemical
• Food & Beverages
• Pharmaceutical
• Others

By Region:
• North America
• Latin America
• Asia Pacific
• Europe
• MEA

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This release was published on openPR.