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.
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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.
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
Modular Robotics: Market Segmentation
On the basis of product type, the global modular robotics market can be segmented into the following,
- SCARA Modular Robots
- Articulated Modular Robots
- Cartesian Modular Robots
- Parallel Modular Robots
On the basis of hardware design, the global modular robotics market can be segmented into the following,
- Chain-based
- Lattice-based
- Strut-based
On the basis of configuration, the global modular robotics market can be segmented into the following,
- Auto-Configuration
- Manual Configuration
On the basis of end use industry, the global modular robotics market can be segmented into the following,
- Automotive
- Electronics & Electrical
- Chemical
- Food & Beverages
- Pharmaceuticals
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