Modular Robotics Market

Modular Robotics Market Outlook

The modular robotics market is estimated to record a healthy CAGR of 18% during the forecast period.

The modular robotics market is estimated to be valued at US$ 9.11 Bn in 2022 and reach US$ 47.68 Bn by 2032.

Demand for modular robotics is projected to rise due to increasing productivity, a decrease in rejection rate, and the scalability of operations. These are some of the key benefits propelling the sales of modular robotics in multiple industries.

Demand for modular robotics is rising rapidly in automotive industry and chemical industry across the globe. Modular robots are flexible, versatile, and easily configurable, therefore the demand for modular robotics is anticipated to grow steadily during the forecast period.

Lattice-based modules are more widely used compared to chain-based modules, as they are capable of connecting more than two modules simultaneously hence, the sales of modular robotics, that is lattice-based modules, are predicted to rise rapidly.

Demand for modular robots is likely to rise as it creates significant market 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 carriers in countries such as China and India which leads to an increase in the demand for modular robotics.

Rapid increase in the demand for modular robotics for industrial automation is gaining more traction in the modular robotics market share.

The cost of efficient solution development for specific use is substantially high in modular robotics, which makes it difficult to adhere to budget constraints for most small & mid-size organizations which is likely to affect the sales of modular robotics.

Also, factors such as high maintenance costs, and lack awareness will stagnant the growth of the global modular robotics market. It is expected to fall in the modular robotics market share all around the regions.

What are the Key Contributors to the Modular Robotics Market

Demand for modular robotics is likely to increase in restaurants, hotels, electronics, electric, automation, chemical, food and beverage, pharmaceuticals, and other industries. These industries are likely to grow the valuation in the modular robotics market share in the coming forecast period.

To save the labor cost in the industries and reduce the man force, modular robotics is generated which leads to an increase in sales of modular robotics in the marketplace.

The work such as cooking, servicing, lifting the luggage, and other multitasks are performed by modular robotics which lifts the demand for modular robotics in the market.

These are the key contributor industries that play an important role in the modular robotics market share all around the globe.

Nikhil Kaitwade

Principal Consultant

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What is the Regional Outlook for the Modular Robotics Market

Demand for modular robotics is likely to increase in Asia Pacific due to increasing the adoption of robots in the electronics and automotive industries. The Region is estimated to create lucrative growth opportunities in the modular robotics market share in the coming years.

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 which leads to an increase in sales of modular robotics.

China is expected to show lucrative growth opportunities in the market due to heavy investment in industrial automation which leads to an increase in demand for modular robotics.

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. This factor is likely to boost the sales of modular robotics in the global market.

Regions including Middle East Africa and Latin America are predicted to have healthy growth in the global modular robotics market. The growth rate in these regions is expected to grow higher in the forecast period.

Who are the Key Players in the Modular Robotics Market

Sales of modular robotics are rising as per demand by end-users, and manufacturing companies and other industries are expected to grow the modular robotics market size.

Here are some of the key players that are likely to aid in the growth of modular robotics market share in the coming year.

Key players 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

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