Modular Robotics Market to Hit $15.1 Billion Revenue by 2030
- Published: June 2020
The growing demand for collaborative modular robotics system and automation in the manufacturing industry are the key factors that positively impact the growth of the global modular robotics market. The market is expected to generate $15.1 billion revenue by 2030, advancing at a CAGR of 9.9% during the forecast period (2020–2030), according to P&S Intelligence.
This COVID-19 disruption has impacted the original equipment manufacturers (OEMs) in every region, which, in turn, has discontinued the global shipments up to some extent. With a rising number of cases, countries have faced proper shutdown due to which supply chain and manufacturing industries are largely impacted.
Articulated Modular robotics system to Hold the Largest Share in the Industry throughout the Forecast Period
The global modular robotics market, on the basis of robot type, is classified into articulated modular robotics system, SCARA modular robotics system, cartesian modular robots, collaborative modular robots, parallel modular robots, and others. Of these, the articulated modular robotics system category held a larger share in 2019 and is expected to retain the trend in the forecast period. This can be attributed to the high rate of adoption of these robots in the automotive industry for handling heavy automotive parts and in the metal and machinery industry for handling heavy metal sheets and components.
The market, based on offering, is categorized into hardware, software, and services. The hardware category is expected to hold the largest revenue share during the forecast period. This category is further classified into controller, sensor, manipulator, driver module, and others. Among these, the controller subcategory led the market with the largest revenue. This is primarily due to the use of robot controllers in industrial robots for point-to-point repetitive processes.
Geographically, the APAC region held the largest share in the modular robotics market and is expected to maintain the dominance during the forecast period. This can be attributed to the increasing investment in automation by the automotive, electrical, and electronics players, especially in China, South Korea, and India.
Geographical Expansion of Facilities Is the Strongest Strategic Measure Taken by the Players in the Market
Key players in the modular robotics industry are rapidly expanding their geographical presence to increase their market share. For instance, in October 2019, ABB Ltd. opened the first global healthcare research hub on the Texas Medical Center (TMC) campus, in Houston, Texas. During the opening, the company showcased several concept technologies, including a mobile YuMi robot, which is designed to assist medical and laboratory staff in laboratory and logistics tasks in hospitals.
Browse report overview with detailed TOC on "Modular Robotics Market Research Report: By Offering (Hardware, Software, Services), Robot Type (Articulated Modular Robots, Cartesian Modular Robots, SCARA Modular Robots, Parallel Modular Robots, Collaborative Modular Robots), Payload Capacity (1–16 Kg, 16.1–60 Kg, 60.1–225 Kg, More Than 225 Kg), End User (Industrial, Commercial, Residential) - Global Industry Analysis and Growth Forecast to 2030" at:https://www.psmarketresearch.com/market-analysis/modular-robotics-market-report
Similarly, in September 2019, ABB Ltd. announced the construction of robotics manufacturing and research facility in Kangqiao, China. The facility is expected to open during 2021 and represents a total investment of $150 million (1.1 billion RMB). The factory would be spread in 67,000 square meter and would deploy the manufacturing processes along with machine learning and digital and collaborative solutions.
Some of the major players operating in the global modular robotics market are Rethink Robotics GmbH, DENSO Products and Services Americas Inc., ABB Ltd., KUKA AG, Mitsubishi Electric Corporation, Schneider Electric SE, FANUC Corporation, Kawasaki Heavy Industries Ltd., Yaskawa Electric Corporation, Nachi-Fujikoshi Corporation, Universal Robots A/S, OTC DAIHEN Inc., Vision Machinery Inc., Stäubli International AG, and Yamaha Motor Co. Ltd.