According to Future Market Insights, the modular robotic market is poised for significant growth, with its size expected to increase from US$ 12.69 billion in 2024 to US$ 66.42 billion by 2034. Over the next decade, an extraordinary 18.0% CAGR in the demand for modular robotics is projected to drive the expansion, which had seen a CAGR of 16.3% between 2019 and 2023.
Increasing demand for automation across industries is driving the adoption of modular robotics. Companies seeking adaptability and connectivity in their operations are increasingly turning to modular robotics for streamlined and smart manufacturing. Modular robotic systems’ scalability fosters responsive smart factories and allows businesses to adapt to surfacing market demands swiftly.
Technological advancements in sensors and AI are enhancing the performance and adaptability of modular robots. Moreover, the cost-effectiveness of modular robotic systems compared to traditional automation solutions is attracting more businesses.
Stay ahead of the curve – Request our sample report for critical market insights and emerging trends! https://www.futuremarketinsights.com/reports/sample/rep-gb-10837
Growing emphasis on safety in manufacturing environments is prompting the adoption of modular robots for hazardous tasks. The scalability of modular robotic systems allows businesses to expand their automation capabilities as needed easily.
“The rapid expansion of Japan and China in modular robotics is causing concern for the current frontrunners. They are facing challenges because these two countries are quickly catching up in the market. They are investing heavily in research and development, leading to innovative advancements in modular robotics.” says Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.)
Key Takeaways
- The United States is set to exhibit continuous growth in the modular robotic industry, with a projected 16.70% CAGR from 2024 to 2034, driven by a surge in technological advancements and increased demand for automation solutions.
- China’s modular robotic industry is projected to boom consistently, with an estimated 21.80% CAGR through 2034, attributed to the country’s robust manufacturing sector and robust government support for the advancement of robotics.
- The modular robotic market in South Korea is likely to show a 20.20% CAGR between 2024 and 2034, influenced by its reputation as a global leader in technology and innovation and government initiatives aimed at promoting automation.
- Japan’s modular robotic industry is projected to develop at a 22.25% CAGR through 2034, propelled by its longstanding tradition of precision engineering and strategic partnerships between industry leaders.
- The Germany modular robotic industry is likely to exhibit a 19.80% CAGR from 2024 to 2034, impacted by its status as an engineering powerhouse and a hub for advanced manufacturing.
Key Players’ Strategies for Success in the Modular Robotic Market
Here are some key strategies that players in the modular robotic industry employ for success:
- Continuous innovation in modular designs
- Collaboration with researchers for cutting-edge technology
- Customization options to satisfy diverse needs
- Streamlined manufacturing processes for efficiency
- Resilient focus on quality control and consistency
- Constructing strategic partnerships with suppliers and distributors
- Investment in research and development for future advancements
Top10 Key Players in the Modular Robotic Industry
- 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.
Recent Developments
- In July 2022, Beckhoff unveiled the ATRO (Automation Technology for Robotics) Modular Robot. This DIY robot tech is modular, customizable, and opens up exciting possibilities for end users, system integrators, and OEMs when it comes to robotic automation.
- In May 2021, OhmniLabs shared news about their new Ohmni Modular Robotics Platform, which makes creating mobile robots faster. With this platform, customers can easily design their own robots using a set of preselected components.
Gain Unrivaled Marketing Intelligence – Purchase the Competition Analysis Dashboard Now
https://www.futuremarketinsights.com/checkout/10837
Key Segments in the Modular Robotics Global Market Report
By Product Type:
- SCARA Modular Robots
- Articulated Modular Robots
- Cartesian Modular Robots
- Parallel Modular Robots
By Hardware Design:
- Chain-based
- Lattice-based
- Strut-based
By Configuration:
- Auto-Configuration
- Manual Configuration
By End Use Industry:
- Automotive
- Electronics & Electrical
- Chemical
- Food & Beverages
- Pharmaceutical
- Others
By Region:
- North America
- Latin America
- Asia Pacific
- Europe
- MEA
Explore wide-ranging Coverage of FMI’s Industrial Automation Market Insights Landscape
The global marine hatch covers market is projected to record a robust CAGR of 7.6% between 2023 and 2033, totaling around US$ 327.7 million by the end of 2033.
The India electrical testing services market is expected to reach a valuation of US$ 308.4 million by 2033. with a CAGR of 4.4% from 2023 to 2033.
The global industrial weighing equipment market is projected to reach US$ 2.4 billion by 2033. A CAGR worth 5% is expected for the market during the forecast period.
The worldwide material handling equipment market is expected to record a 4.5% CAGR between 2023 and 2033, reaching a valuation of US$ 6,555.9 million.
The duct fans market is expected to rise to US$ 162,788.1 million by 2033. The sales are expected to record a significant CAGR of 6.0% during the forecast period.
The non-destructive testing equipment market is expected to reach around US$ 31,574.6 million by 2032, growing at a compound annual growth rate (CAGR) of 6.2% between 2022 and 2032.
From 2023 to 2033, the Compact Power Equipment Rental Market is expected to grow at a noteworthy compound annual growth rate (CAGR) of 6.4%, reaching a projected total market value of US$ 206,557.9 million by the end of that year.
By 2033, the solar pump market is expected to exceed $4.64 billion USD. Solar pump adoption is expected to grow at a CAGR of 13.5% during the forecast period.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube
