The Modular Robotics Market is anticipated to expand significantly, rising from a value of USD 4.70 billion in 2018 to a noteworthy USD 10.76 billion by the year 2023. The Compound Annual Growth Rate (CAGR) for this growth trajectory is 18.00%.

In order to estimate the Modular Robotics Market present size, four essential stages were taken. First, a lot of secondary research was done to collect information about the market, its competitors, and its parent market. After that, primary research was used to confer with industry professionals from throughout the value chain to confirm the findings, hypotheses, and sizing. The total market size was calculated using top-down and bottom-up methods. In order to improve the accuracy of the overall assessment, market breakdown and data triangulation approaches were used to further estimate the market size of distinct segments and subsegments.

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Articulated modular robots to hold largest share of market

Due to their extensive usage across industries, articulating modular robots are positioned to dominate the modular robotics industry. These robots are in great demand, especially in the automobile industry, due to their proficiency in handling bulky automotive components. Similar to this, articulated modular robots are essential for handling large metal sheets and components in the metal and equipment industries. The highest market share for articulated modular robots will be secured as a result of their significant adoption and use in important sectors.

Market for metals and machinery to grow at highest CAGR during 2018–2023

The metals and machinery sector's Modular Robotics Market is predicted to experience the highest compound annual growth rate (CAGR) from 2018 to 2023. This increase can be linked to the industry's current trend towards increased automation. The equipment and metals industry has been actively adopting automation, eventually substituting robotics for human processes or less flexible automated technologies. This tendency is further reinforced by the incorporation of other cutting-edge technologies like machine learning and motion control, which will help the modular robots market for the metals and machines industry see the rapid expansion predicted for it.

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Automotive

The automotive sector has been a prominent user of these robotic systems since the development of modular robotics, taking advantage of their abilities to fulfil changing demands more effectively and affordably. Within the automobile industry, modular robotics have offered improved levels of speed, accuracy, precision, adaptability, and agility, answering varied requirements. These developments have been crucial in raising competition, improving product quality, and increasing general productivity in the procedures used to make automobiles. The industry's ongoing use of modular robotics emphasises how crucial they are to advancing technology and streamlining processes in the automobile sector.

The production chain has been transformed by modular robots systems at several phases, including operations in stores, press shops, paint shops, final assembly, and distribution activities in warehouses. Modular robots are essential in carrying out various jobs like material handling, palletizing, laser and camera operations, foundry operations, and painting, particularly within the automotive industry. These machines are incredibly adaptable and help with a variety of jobs, from installing whole dashboards in automobiles to crucial jobs like chassis assembly (marriage/decking) for large excavators and other heavy machinery used in the automotive industry. The numerous applications for modular robots highlight their crucial role in streamlining and improving processes in the automotive production industry.

Electrical and Electronics

Because of the miniaturisation of electrical and electronic equipment and the complex nature of manufacturing processes, the usage of modular robotics systems is significantly increasing in the electrical and electronic sectors. By integrating modular robotics into various industries, efficient automation and simplified manufacturing are made possible, allowing for the timely and cost-effective launch of new electronic products. This increase in demand for modular robots is primarily attributable to the region of Asia-Pacific (APAC), where they have been widely installed and used. This highlights their critical role in addressing the changing needs and improvements within the electrical and electronics sectors.

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Modular robotics market in APAC to grow at highest CAGR during forecast period

The Asia-Pacific (APAC) region is expected to experience the highest Compound Annual Growth Rate (CAGR) for the modular robotics market during the projected period. This expansion is linked to a marked increase in automation expenditures across major sectors, particularly in the automotive, electrical, and electronics sectors. This upsurge is being led by nations like China, South Korea, and India, which are increasing their investments in and use of automation technology like modular robotics. The spectacular rise of the modular robots market in this area is being fueled by this trend, which highlights the critical role automation plays in improving operational efficiency and satisfying the demands of developing industries in the APAC region.

ABB Ltd. (ABB, Switzerland), KUKA AG (KUKA, Germany), Mitsubishi Electric Corp. (Mitsubishi, Japan), FANUC Corporation (Fanuc, Japan), Kawasaki Heavy Industries Ltd. (Kawasaki Heavy Industries, Japan), and Yaskawa Electric Corporation (Yaskawa, Japan) are a few key players in the modular robotics market.

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