The global Modular Robotics Market Size is growing with significant growth, reaching a expected value of USD 40.2 billion by 2031. This growth is Driven by the increasing adoption of industrial automation across various industries. Modular robots offer a compelling solution for manufacturers seeking greater flexibility and efficiency in their production lines. Unlike traditional robots with fixed configurations, modular robots can be easily reconfigured to adapt to changing tasks and production requirements. This adaptability is particularly valuable in today’s dynamic manufacturing landscape, where companies need to be agile and responsive to market demands.
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Some of Major Key Players in this Report:
- ABB Ltd.
- Acutronic Robotics
- KUKA AG
- Mitsubishi Electric Corp.
- FANUC Corporation
- Kawasaki Heavy Industries Ltd.
- Yaskawa Electric Corporation
- Denso Corporation
- Universal Robots
- Nachi-Fujikoshi Corp.
- Rethink Robotics
Growing Demand for Modular Robotics Solutions Across Industries
The SNS Insider report highlights the promising future of the modular robotics market. With a market size of USD 10.51 billion in 2023, the market is expected to register a robust CAGR of 18.23% over the forecast period of 2024-2031. This growth can be Driven by,
- Manufacturing industries are embracing modular robots to optimize operational efficiency, reduce costs, and improve production speed. Additionally, the logistics sector is increasingly deploying modular robots for tasks like sorting, packing, and warehousing, leading to a more streamlined and efficient supply chain.
- The Growing Automotive and electronics industries are indirectly driving the demand for modular robots. The need for faster production cycles and intricate assembly processes in these sectors makes modular robots a highly sought-after solution.
- A key advantage of modular robots is their ability to change configurations based on specific needs. This allows manufacturers to adapt their production lines quickly and efficiently, catering to diverse product requirements.
- The Asia-Pacific region is witnessing a significant rise in the adoption of modular robotics, particularly in the electrical and electronics industries. This trend is driven by factors such as miniaturization of electronic components and the increasing complexity of manufacturing processes. Modular robots offer a solution for handling delicate components and automating intricate assembly tasks in these industries.
Recent Developments
February 2024, OMRON introduced new autonomous mobile robot (AMR) options, including lifter and roller modules from ROEQ. These modular attachments enhance the functionality of AMRs, making them suitable for a wider range of applications.
December 2023, QYSEA Technology unveiled its latest underwater robot, the FIFISH E-GO. This modular robot boasts enhanced power, improved imaging capabilities, and AI functionalities, making it ideal for various underwater exploration and inspection tasks.
January 2023, Ottonomy introduced the Ottobot YETI, a one-of-a-kind autonomous delivery robot with customizable features and interchangeable cabins. This modular design allows for tailoring the robot to specific delivery needs in retail, restaurants, and curbside delivery services.
Regional Developments
North America Regio is expected to hold a significant market share due to advancements in grasping systems and the growing adoption of collaborative modular robots. However, the Asia-Pacific region is anticipated to witness the fastest growth rate during the forecast period. This is driven by the growing electronics and automotive industries in the region, coupled with increasing government support for factory automation initiatives.
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Segment Analysis
By Type, Articulated modular robots are expected to hold the largest market share due to their high adoption rate in the automotive and metal & machinery industries. These robots excel at handling heavy parts and components, making them ideal for diverse manufacturing applications.
By Industry, the automotive industry is projected to remain the dominant user of modular robots. The ability of modular robots to adapt to changing production requirements and deliver speed, accuracy, and precision provides significant advantages to automotive manufacturers, Improving their competitiveness and productivity.
Impact of Global Disruptions
The global market for modular robotics is not immune to external factors. The ongoing Russia-Ukraine war has disrupted supply chains and led to volatility in raw material prices. This can potentially impact the production costs and availability of modular robots. Additionally, an economic slowdown could reduce or slow down investments in new automation technologies, impacting the growth of the modular robotics market.
Key Takeaways
- The rising demand for industrial automation solutions is a key driver of market growth.
- Modular robots offer advantages such as adaptability, reconfigurability, and improved efficiency, making them attractive solutions for various industries.
- The report highlights the significant growth potential of the modular robotics market, driven by the increasing demand for industrial automation.
- It identifies key factors such as rising adoption in automotive and electronics manufacturing, and the growing popularity of APAC markets as significant growth drivers.
- The report analyses the impact of recent advancements and ongoing global disruptions on the market landscape.
- It provides valuable insights into the dominant segments within the modular robotics market.
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