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The major factors contributing towards the growth of the Global Modular Robotics market includes, growing investment in industrial automation and increasing adoption of collaborative modular robots owing to their benefits and features. The cost of skilled labour is increasing at a significant rate across the world, thus boosting the demand for modular robots over upcoming year. The modular robots are flexible, easily configurable and highly versatile. Moreover, the increasing application of mobile robotics in several industry verticals including electronics, plastics, rubber, food & beverages and pharmaceuticals will have a positive impact on the growth of the Global Modular Robotics market over the coming years. The rising demand for vehicles, especially in the developing economies such as India, China and Japan, has encouraged the automotive manufactures to opt for automation in order to increase production units while competing in the market.
Modular robots offer new levels of speed, accuracy, flexibility and agility while improving quality and productivity of the manufacturing processes. In the automotive industry, modular robots are mainly used for activities such as material handling, painting, foundry, laser and camera operations. Therefore, rising adoption of automated process will further accelerate the demand of the Global Modular Robotics during the forecast period. The latest development of various prototype designs, communication algorithms and dispersion techniques in the robotics industry would generate growth opportunities in the Global Modular Robotics market. On the other hand, the high level of complexity of modular robots in respect to the designs and high maintenance cost might hamper the growth of the Global Modular Robotics market during the forecast period.
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Modular Robotics contains a class of robotic system that can easily change shape according to the task and environmental conditions, by assuming various morphologies. Modular robotics was introduced to improve the flexibility and adaptability limitations of fixed-body, and monolithic robots. A modular robot contains various units with few degrees of freedom (DOFs) known as modules, which are equipped with connection mechanisms to cooperatively connect and detach from each other, to form complex structures and configurations with multiple DFOs. Modular robots are agile enough to reconfigure in a timely manner, scalable to many-modular configurations and are reliable in constructing solid and robust structures.
Read Full Report Description: Global Modular Robotics Market Size by Robot Type (Articulated Modular Robots, Cartesian Modular Robots, SCARA Modular Robots, Parallel Modular Robots, Collaborative Modular Robots and Others), By Component (Hardware, Software, and Service) By Application (Automotive, Electrical and electronics, Healthcare, Food & Beverage, and others), By Region – Opportunities & Forecast, 2020-2027 https://www.gmiresearch.com/report/global-modular-robotics-market/
Based on Robot Type, the Global Modular Robotics market is segmented into Articulated Modular Robots, Cartesian Modular Robots, SCARA Modular Robots, Parallel Modular Robots, Collaborative Modular Robots and Other Modular Robots. The Articulated Modular Robots is anticipated to lead the market during the forecast period owing to the rising adoption of these robots in the automotive industry, majorly for handling heavy automotive parts in the manufacturing process. Moreover, the growing usage of articulated modular robots for automation process among multiple industries such as, food & beverage, plastic and chemicals would drive the growth of the Global Modular Robotics market.
Based on Industry, the Global Modular Robotics market is segmented into Automotive, Electrical and electronics, Plastics rubber and Chemical, Metals and Machinery, Food & Beverage, Precision Engineering and optics, Pharmaceutical and Cosmetics and others. Among them, automotive industry is expected to grow at a higher CAGR during the forecast period due to the increasing usage of modular robots in the manufacturing process, in order to improve speed, accuracy and production units. Along with the growing demand for vehicles, the manufacturers are significantly shifting towards automation processes, in order to meet market demands without heavy investment in additional plant and equipment.
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Various notable players operating in the market include ABB, FANUC America Corporation, KUKA AG, Yaskawa America, Inc., Kawasaki Heavy Industries, Mitsubishi Electric Corporation, DENSO Global, Nachi-Fujikoshi Corp., Universal Robots, Rethink Robotics among others.
Based on region, Asia-Pacific is expected to grow faster during the forecast period. It is observed that the electronics and automotive industries based in countries like China, South Korea, and India are increasing their investments at faster rate. Moreover, latest development of collaborative modular robots will attract new manufactures towards the market. The strong presence of dominant automotive and electronic market players such as Mitsubishi Electric Corporation, Kawasaki Heavy Industries, Ltd., will drive the demand of the Modular Robotics market in APAC region.
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The Global Modular Robotics market has been segmented based on Robot Type, Component, Application and Regions. Based on Robot Type, the market is segmented into Articulated Modular Robots, Cartesian Modular Robots, SCARA Modular Robots, Parallel Modular Robots, Collaborative Modular Robots and Others. Based on Component, the market is segmented into Hardware, Software, and Service. Based on Application, the market is segmented into Automotive, Electrical and electronics, Healthcare, Food & Beverage, and others.
Market Segmentation
Global Modular Robotics Market by Robot Type
Global Modular Robotics Market by Component
Global Modular Robotics Market by Application
Global Modular Robotics Market by Region
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Modular Robotics Market Leading Players (Option 5: Free 25% Customization – Profiles of 5 Additional Companies of your Choice)
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