Pune, Aug. 05, 2024 (GLOBE NEWSWIRE) -- Modular Robotics Industry Analysis:
“As per the SNS Insider Research, The Modular Robotics Market size was escalated at US$ 10.51 Billion in 2023 and is estimated to reach US$ 47.44 Billion by 2032, with a growing CAGR of 18.23% over the forecast period 2024-2032.”
Modular robotics is a breakthrough in the field of robotics that involves sets of small modules or units that may be often identical and which can autonomously reconstruct in order to perform different types of tasks. It has versatile applications starting from simple manufacturing assembly lines and ending with search and rescue operations in hazardous conditions. It is a more adaptable, scalable and redundant alternative to one-piece robots. Basically, modularity involves the presence of a set of actuators, sensors, control units and the like, which can be interchanged and recomposed according to the necessities. These components can be easily reconfigured if needed, which is extremely important for versatile applications requiring high adaptability and skill. It might be the space exploration, where the robots need to rapidly change their reaction towards the new and unpredictable data of the surrounding environment. Due to the great advances made in the field of artificial intelligence and machine learning, the modular robot can learn and optimize its performance for the task.
In 2023, the United States experienced an increase in installations of the new robots, and the amount of growth has exceeded 15%. The highest rise was in the automotive industry, and it also accounted for a significant portion of new robot units. Moreover, the development of light and durable materials has facilitated the usage of modular robotics in healthcare, agriculture, and logistics, and they play a crucial role in the expansion of the market.
Get a Sample Report of Modular Robotics Market@ https://www.snsinsider.com/sample-request/3629
Major Players Analysis Listed in this Report are:
- 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
- Other Players
In manufacturing, the robots have the manufacturing process on the assembly line, and since modular robots can be programmed, they provide tailored production and take the minimum time to be reconfigured. In agriculture, modular robotics is suitable for different crops, and they cannot harm the plants and, what is more, they can greatly reduce labor cost. In the defense industry, considered the most critical market, modular robotics can be used in adaptable systems for reconnaissance and demining. Since many industries require automation and adaptability, usage of modular robotics is rapidly increasing in a range of different markets, and they also continue to improve and develop for new uses.
Modular Robotics Market Report Scope:
| Report Attributes | Details |
| Market Size in 2023 | US$ 10.51 Bn |
| Market Size by 2032 | US$ 47.44 Bn |
| CAGR | CAGR of 18.23% From 2024 to 2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| Key Regional Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia Rest of Latin America) |
| Key Growth Drivers | • Modular robots offer flexibility by allowing quick reconfiguration for diverse tasks, and they provide adaptability by being suitable for a wide range of industries due to their customizable nature. • Modular robots typically require a lower initial investment and incur reduced operational costs compared to traditional industrial robots, making them a more cost-effective option. |
Do you have any specific queries or need any customization research on Modular Robotics Market, Make an Enquiry Now@ https://www.snsinsider.com/enquiry/3629
Segmentation Analysis
By Robot type
The articulated modular segment was the market leader with a share of more than 34% in 2023. The high share of this segment is attributed to its high usage in the automotive industry to handle big parts as well as in metal and machinery sector to deal with heavyweight sheets and components. The increased usage in the food and beverages, plastics, rubber and chemicals to automate the processing has increased the trend thereby increasing the presence of the segment in the market.
By Industry
The automotive industry product segment accounted for more than 30% market share in 2023. The automotive industry is undergoing a revolution where modular robotics readily manufactured large numbers of an identical car meeting demand at high quality and speed with more accurate exact precision that meet tight delivery schedules. The rise in adoption is influenced by the expanding interest of vehicles, particularly among developing nations which are compelling automotive organizations and OEMs to mechanize both creation for the automotive vehicle.
Modular Robotics Market Key Segmentation:
By Robot Type
- Articulated modular robots
- Cartesian modular robots
- SCARA modular robots
- Parallel modular robots
- Collaborative modular robots
- Other
By Industry
- Automotive
- Electrical and Electronics
- Plastic, Rubber, and Chemicals
- Metals and Machinery
- Food & Beverages
- Precision Engineering and Optics
- Pharmaceuticals and Cosmetics
- Others
Key Regional Development:
In Asia-Pacific dominated the market and held a share of more than 38% in 2023. Some of the key markets in manufacturing including China, Japan and Korea with significant requirements for automation technology to improve accuracy and productivity. These same governments offer robust support in grassroots robotics involvement and R&D funding, which also provides a safe incubator for robotic integration into manufacturing operations.
North America is the fastest-growing region among others and that is due to broad investment in automation throughout North American industries. In that context, North America benefits from vast experience in robotics research and thus delivers modular robotics solutions of the highest quality. Indeed, the market also benefits from exceptional organization, and it furthers the growth of robotics as a whole at a steady pace.
Recent Developments
In December 2023: QYSEA Technology revealed its latest underwater tool, the FIFISH E-GO. This new device has a modular structure and better power and imaging. It can carry multiple loads and comes with AI capabilities. These features make it the most advanced underwater robot from QYSEA so far.
Buy an Enterprise-User PDF of Modular Robotics Market Analysis & Outlook 2024-2032@ https://www.snsinsider.com/checkout/3629
Key Takeaways
- The Modular Robotics Market is on track for substantial gains driven by technological developments and uses in multiple industries.
- Continual advancements in AI and machine learning are only boosting what modular robots can do.
- Asia-Pacific is top market share holder and North America as the fastest growing region owing to variety of global adoption trends.
- New product launches by established players, demonstrating the capabilities of modular robotics, will continue to fuel market expansion and creativity.
Table of Contents – Major Key Points
1. Introduction
2. Industry Flowchart
3. Research Methodology
4. Market Dynamics
5. Porter’s 5 Forces Model
6. Pest Analysis
7. Modular Robotics Market Segmentation, By Robot Type
8. Modular Robotics Market Segmentation, By Industry
9. Regional Analysis
10. Company Profiles
11. Competitive Landscape
12. USE Cases and Best Practices
13. Conclusion
Access Complete Report Details of Modular Robotics Market Analysis & Outlook 2024-2032@ https://www.snsinsider.com/reports/modular-robotics-market-3629
[For more information or need any customization research mail us at info@snsinsider.com]
About Us:
SNS Insider is one of the leading market research and consulting agencies that dominates the market research industry globally. Our company's aim is to give clients the knowledge they require in order to function in changing circumstances. In order to give you current, accurate market data, consumer insights, and opinions so that you can make decisions with confidence, we employ a variety of techniques, including surveys, video talks, and focus groups around the world.
