"Smart Strategies, Giving Speed to your Growth Trajectory"
Modular robotics is an advanced machine that carries out a series of tasks with the help of programmed instructions given by a computer. An advanced modular robotics includes electronic and mechanical units, sensors and controller backed up by Artificial Intelligence (AI) platform. Modular robotics is capable of changing its shape and size by repositioning their parts to adopt new surroundings, execute operations, and recover from damage.
These robots are operated on the robotics-as-a-service model and are playing a crucial role in the manufacturing and logistics industry. Manufacturing industries are focusing on adopting modular robots to optimise operational effectiveness and to reduce overall time and cost.
To gain extensive insights into the market, Request for Customization
Moreover, modular robots are gaining popularity and are deployed in automotive manufacturing plants. The growing market of automobiles is indirectly generating tailored demand for modular robotics in the manufacturing industry. According to the International Organization of Motor Vehicle Manufacturers statistics, in 2016, global motor and passenger vehicle production was valued at around 95 million.
The key factors driving the growth of modular robotics is the rising adoption of advanced technology, including machine learning and artificial intelligence in robotics industries. Further, the growing adoption of the robotics-as-a-service model in the robotics industry is expected to drive the growth of modular robots in the forecast period.
Some of the key players in global modular robotics market include 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., and Rethink Robotics among others.
By Robot Type
· Articulated Modular Robots
· Parallel Modular Robots
· SCARA Modular Robots
· Spherical Robots
· Cartesian Modular Robots
· Cylindrical Robots
· Collaborative Modular Robots
· Other modular Robots
By Industry Vertical
· Metals and Machinery
· Food & Beverages
· Precision Engineering and Optics
· Pharmaceuticals and Cosmetics
· North America (USA and Canada)
· Europe (UK, Germany, France, Scandinavia and Rest of Europe)
· Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
· Latin America (Brazil, Mexico and Rest of Latin America)
· Middle East & Africa (South Africa, GCC and Rest of the Middle East & Africa)
Globally, North America is estimated to lead the modular robotics market in terms of revenue. Adoption of surface mount technology in robotics industries, growth is expected to increase with a decent CAGR in this region. Further, the innovation in gripping systems and related technology is also driving the growth of modular collaborative robots segment. Key players are focusing on collaborating with various companies who provide gripping systems and similar technology to enhance their robotics business process. For instance, in 2019, Acutronic Robotics has merged with gripping systems providers DH Robotics and Robotiq. This merger was completed to build their robots enabled with the hardware in the ROS2 ecosystem. As a result, fully modular robots, including MARA robot, was created.
Also, Asia-Pacific is projected to observe the highest development rate during the forecast period. Owing to factors such as an increase in IT investment backed by several government programmes in developing countries such as China, Singapore, India, and South Korea are expected to drive the growth in this region.
February, 2019 – Universal Robots announced its collaboration with Bharat Fritz Werner (BFW), manufacturer of India based machine tools. The partnership would help to merge the collaborative robots technology with MSME shop floors via a modular platform. In addition, it would also advance BFW's production capacity.
“We are happy with the professionalism of your in-house research team as well as the quality of your research reports. Looking forward to work together on similar projects”- One of the Leading Food Companies in Germany
“We appreciate the teamwork and efficiency for such an exhaustive and comprehensive report. The data offered to us was exactly what we were looking for. Thank you!”- Intuitive Surgical
“I recommend Fortune Business Insights for their honesty and flexibility. Not only that they were very responsive and dealt with all my questions very quickly but they also responded honestly and flexibly to the detailed requests from us in preparing the research report. We value them as a research company worthy of building long-term relationships.”- Major Food Company in Japan
“Well done Fortune Business Insights! The report covered all the points and was very detailed. Looking forward to work together in the future”- Ziering Medical
“It has been a delightful experience working with you guys. Thank you Fortune Business Insights for your efforts and prompt response”- Major Manufacturer of Precision Machine Parts in India
“I had a great experience working with Fortune Business Insights. The report was very accurate and as per my requirements. Very satisfied with the overall report as it has helped me to build strategies for my business”- Hewlett-Packard
“This is regarding the recent report I bought from Fortune Business insights. Remarkable job and great efforts by your research team. I would also like to thank the back end team for offering a continuous support and stitching together a report that is so comprehensive and exhaustive”- Global Management Consulting Firm
“Please pass on our sincere thanks to the whole team at Fortune Business Insights. This is a very good piece of work and will be very helpful to us going forward. We know where we will be getting business intelligence from in the future.”- UK-based Start-up in the Medical Devices Sector
“Thank you for sending the market report and data. It looks quite comprehensive and the data is exactly what I was looking for. I appreciate the timeliness and responsiveness of you and your team.”- One of the Largest Companies in the Defence Industry