Modular Robotics Market (By Product: Residential, Industrial, Automotive, Electronics, Commercial, Rubber & Plastics, Food & Beverages, Pharmaceutical, Metals & Machinery, Others; By Component: Hardware, Software, Services; By Robot Type: Cobots, Articulated Robots, SCARA, Others) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2019 - 2026

Introduction

The Module Robotics consists of modular magnetic block construction kits which can be mounted to make small robots that are automatically powered. The report suggests that the increasing application of modular robots throughout several vertical industries is expected to increase the demand for modular robots between 2019 and 2026, in order to reduce production costs and the increasing use of modular robots worldwide. As the key players in developed markets such as North America, Europe and Asia Pacific introduce innovative modular robots, these regions will be the leading global market player in the field of modular robotics during the projected period.

The report provides analysis of global Modular Robotics market for the period 2015-2026, wherein 2019 to 2026 is the forecast period and 2018 is considered as the base year. According to Acumen Research and Consulting, the global Modular Robotics market is expected to grow at noteworthy CAGR around 13.5 % throughout the forecast period and reach around US$ 25 billion by 2026.

Market Dynamics

According to the report, the global market will continue to be influenced by the increasing global adoption of industrial automation, a strong presence of the car and electronics industries, and the ability of modular robots to modify configurations to meet the requirements of the manufacturer or production line. It is estimated that Asia Pacific is still the world market leader, with the regional market expanded over the expected period to more than 13% at CAGR. Modular robotics are increasingly adopted by prominent Asian Pacific economies like China, Japan, India and South Korea.

Market Insights

The increased investment in industrial automation and the increased adoption, due to its benefits and features, of collaborative modular robots are the key drivers of the growth of the modular robotics market. In addition, the increasing adoption of the robotic as a service model in the coming years is expected to stimulate market growth.

Different industries such as automotive, electrical and electronics, plastics, rubbers, chemical products, metals and machinery, food and drinking, precise engineering and optics, and pharmacology and cosmetics are used for modular robotics. For these robots for different functions, suh as welding and handling, the car industry is the largest application segment. The use of modled robots, such as modular articulated robots, SCARA modular robots and collaborative modular robots is being promoted by ongoing technological development and increasing investment in automation and thus the overall market in modular robotics is growing.

A large number of module, connected to each other forms a single robotic system. modular robotic systems consist of. It is very difficult however sometimes for a modular robot to be made, since hardware modules are owned and sometimes incompatible by different manufacturers. The system integration process becomes complex because of this incompatibility. A number of manufacturers (including Acutronic Robotics Technology) build common integration platforms in order to simplify the integration of modular robotic systems.

The modular robotics market is divided into cobots, jointed robots, SCARA and many more in terms of robot type. Cobots i.e. collaborative robots in an industrial environment perform tasks in cooperation with employees. There is currently no significant demand for co-operative modular robots, although during the forecast period a high rate is expected to increase. Different benefits offered by cobots can attribute the significant growth rate. Significantly automatic industries like automotive and electronics, prominent industrial robots users, use collaborative robots to perform certain tasks with traditional industrial robots.

Furthermore, the adoption of collaborative robs is expected to increase in the global manufacturers in the near future due to advances in technologies for end-effectors such as grippers, controllers and various robotic modules.

Component Outlook

The global modular robotics market was divided into hardware, software and services. In terms of component. Modular robotics consist of a wide variety of hardware modules that vary with the task. In addition, these multiple connected modules allow the size and shape of the robot to be changed according to the given task. Several companies, which can be attached to modular-type robots for a specific task, also provide various end-effectors including clamps, grippers and modules. These end-effectors have various specifications for specific applications. The hardware sector also dominates because modular robotics consist of several hardware components that can be interchangeally applied and provide a longer lifespan for modular robotics.

Robot Type Stance

In terms of robot type, articulated robots, cobots, SCARA and others are the modular robotics market. Cobots i.e. collaborative robots in an industrial environment perform tasks in cooperation with workers. There is currently no substantial demand for modular collaborative robots, but during the predicted period, it is expected to grow at a high rate. A number of benefits offered by cobots can attribute the significant growth rates. In addition to traditional industrial robots, significantly automated industries such as cars and electronics, prominent industrial robots operate jointly in order to carry out certain tasks. Moreover, the adoption of collaborative robots in the global manufacturing industry is projected to grow over the next few years as technology develops with end-effectors like controllers, influencers, and various robotic modules.

Regional Stance

Asia Pacific represents a major part of the global model robotics market in terms of revenues. The leading proportion of that region is mainly due to a strong presence in China, Japan, and South Korea of prominent economies of well established players and the governance of vastly automated industries such as the car and electro-technology industries. Mitsubishi Electric, Kawasaki Heavy Industries, Ltd. and FANUC CORPORATION are well recognized players. In addition, Asia-Pacific market drive the presence of a prominent electronics industry, increasing sales of local robot suppliers and increased regional industrial automation. The European market will nevertheless expande rapidly during the prediction period, as numerous well-established and emerging players, including Universal Robots A / S, KUKA AG, ABB, will enjovate industrial automation across the automotive, food & beverage, and e-commodity industries in the region and the region. The players innovate new modular robotic products and contribute to reducing production costs for manufacturers.

Market Segmentation

Global Modular Robotics Market, by Product

• Residential
• Industrial
• Automotive
• Electronics
• Commercial
• Rubber & Plastics
• Food & Beverages
• Pharmaceutical
• Metals & Machinery
• Others

Global Modular Robotics Market, by Component

• Hardware
• Software
• Services

Global Modular Robotics Market, by Robot Type

• Cobots
• Articulated Robots
• SCARA
• Others

Global Modular Robotics Market, by Geography

• North America
• U.S.
• Canada
• Mexico

• Europe
• UK
• Germany
• France
• Rest of Europe
• Asia-Pacific
• China
• Japan
• India
• Australia
• Rest of Asia-Pacific
• Latin America
• Brazil
• Chile
• Rest of Latin America

• Middle East and Africa (MEA)
• South Africa
• Saudi Arabia
• Rest of MEA

The market research study on “Modular Robotics Market (By Product: Residential, Industrial, Automotive, Electronics, Commercial, Rubber & Plastics, Food & Beverages, Pharmaceutical, Metals & Machinery, Others; By Component: Hardware, Software, Services; By Robot Type: Cobots, Articulated Robots, SCARA, Others) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2019 - 2026” offers detailed insights on global Modular Robotics market segments with market dynamics and their impact. The report also covers basic technology development policies.

Key Players & Strategies

This report includes profiles of renowned players in the global market for modular robotics. Bender GmbH & Co. includes. The focus of the players is on strategic collaboration and technologically advanced products to clients. KK, ABB, Viper Innovations Ltd; Schneider Electric, Littelfuse, Inc. and HAKEL LTD. Universal Robots A / S announced in February 2019 its partnership with the manufacturer of India-based machine tools, Bharat Fritz Werner (BFW). The partnership will bring the collaborative robots technology to the MSME shop floors via a modular platform. In addition, it would improve BFW's productivity.