Modular robotics market is anticipated to grow at a CAGR of 17.5% during the forecast period. The growing investment in industrial automation and increasing adoption of collaborative modular robots owing to their benefits and features are some key factors driving the growth of the market. Manufacturers are integrating new technologies, including the Internet of Things (IoT), cloud computing and analytics, and AI and machine learning into their automotive production facilities and throughout their operations.
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The incorporation of industry 4.0 supports physical production and operations with smart digital technology manufacturing, machine learning, and data analytics which is accelerating the growth of the market during the forecast period. For instance, in June 2022, the Tamil Nadu government (India) launched a series of initiatives to support the state to become a $1 trillion economy by 2030, with a contribution of around $250 billion by the manufacturing sector. The Centre will provide a dedicated IT engineering ecosystem to support the micro small and medium enterprises (MSME) sector and students across Tamil Nadu. Further, it will support the growth of various industries such as aerospace, defense, automotive and electric vehicles. The government will equip the latest technologies such as a 3D experience platform for up-skilling and facilitating future-ready innovations regarding the modular robotics market.
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- Market Coverage
- Market number available for – 2023-2029
- Base year- 2022
- Forecast period- 2023-2029
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Market Segmentation
Global Modular Robotics Market, By Robot Type
- Articulated Modular Robots
- SCARA Modular Robots
- Collaborative Modular Robots
Global Modular Robotics Market, By End-User
- Automotive
- Electrical & Electronics
- Plastic
- Rubber
- Chemicals
Regional Analysis
- North America
- United States
- Canada
- Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
- Rest of the World
Company Profiles
- C.M.I. spa
- ABB Ltd.
- Aurotek Corp.
- CMA Robotics Spa
- DENSO Corp.
- FANUC Corp.
- Kawasaki Heavy Industries Ltd.
- KUKA AG
- Mitsubishi Electric Corp.
- Rethink Robotics GmbH
- Universal Robots
- Yaskawa Electric Corp.
The Report Covers
- Market value data analysis of 2021 and forecast to 2028.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global modular robotics market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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