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Modular Robotics Market Trend Analysis, Competitive Landscape, Forecast Report To 2033
Modular Robotics Market Analysis
The Business Research Company presents an extensive market research report on the Modular Robotics Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The modular robotics market size has grown rapidly in recent years. It will grow from $8.12 billion in 2023 to $9.47 billion in 2024 at a compound annual growth rate (CAGR) of 16.6%. The growth in the historic period can be attributed to demand for customization, cost-efficiency and scalability, evolving industrial needs, focus on lean manufacturing, diversity of applications, training and education initiatives, increased safety standards, government initiatives and funding..
The modular robotics market size is expected to see rapid growth in the next few years. It will grow to $16.97 billion in 2028 at a compound annual growth rate (CAGR) of 15.7%. The growth in the forecast period can be attributed to emergence of small and medium-sized enterprises (smes), focus on rapid prototyping, customization in consumer electronics manufacturing, global resilience in supply chain management, demand for lightweight and portable robotics, focus on user-friendly interfaces.. Major trends in the forecast period include collaborative and cooperative robotics, rapid advances in robotic arm technologies, integration of artificial intelligence (ai), focus on scalability, application diversity across industries, evolving simulation and digital twin technologies, human-robot collaboration in warehouse automation..
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Key Market Players:
Major companies operating in the modular robotics market report are Mitsubishi Electric Corporation, Yaskawa Electric Corporation, Kawasaki Heavy Industries Limited, Universal Robots A/S, DENSO Corporation, Rethink Robotics GmbH, KUKA AG, Nachi-Fujikoshi Corporation, Yamaha Motor Co. Ltd., Acmi SpA, Shibaura Machine, Stäubli International AG, Engel Austria GmbH, Comau SPA, Cassioli Group, ABB Ltd., Acutronic Robotics, LEGO System AS, FANUC Corporation, Adept Technology Inc., Epson Robots, Omron Adept Technologies Inc., Rockwell Automation Inc., Schneider Electric SE, Emerson Electric Co., Robert Bosch GmbH, Delta Electronics Inc., Beckhoff Automation GmbH & Co. KG, Kollmorgen Corporation, Advantech Co. Ltd.
Market Drivers:
The increasing adoption of robots in the electronics and automotive industries is driving the modular robotics market going forward. 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. For instance, in 2022, according to the International Federation of Robotics, a Germany-based professional non-profit organization, there were 34,987 new robot installations in the United States in 2021, an increase of 14%. The automotive industry was the largest adopter, with 9,782 robot units installed. Similarly, in 2020, according to research conducted by Massachusetts Institute of Technology economists, in the United States, 4 manufacturing industries accounted for 70% of robots, among which, the highest percentage (38%) of robots are used by automakers. Thus, the increasing adoption of robots in the electronics and automotive industries is driving the modular robotics market.
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https://www.thebusinessresearchcompany.com/report/modular-robotics-global-market-report
The modular robotics market covered in this report is segmented -
1) By Product Type: SCARA Modular Robots, Articulated Modular Robots, Cartesian Modular Robots, Parallel Modular Robots, Other Robots
2) By Hardware Design: Chain-based, Lattice-based, Strut-based
3) By Configuration: Auto-Configuration, Manual Configuration
4) By End Use Industry: Automotive, Electronics and Electrical, Chemical, Food and Beverages, Pharmaceutical, Other End Use Industries
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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