With a predicted increase from USD 4.70 billion in 2018 to USD 10.76 billion by 2023, representing a noteworthy Compound Annual Growth Rate (CAGR) of 18.00%, the Modular Robotics Market is expected to develop significantly.

This growth curve shows how modular robotics solutions are becoming more and more important in a variety of industries. The utilisation of flexible, reconfigurable robotic systems that provide flexibility and adaptation in a range of applications is what defines the modular robotics industry. The need for automation solutions, developments in artificial intelligence, and the desire for modular systems that are easily customisable to fit particular industrial requirements are the main factors driving this market expansion.

Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=162980727

The thorough examination of the modular robotics market required a careful four-step process. In order to obtain information on the market, its peer competitors, and the larger parent market, initial efforts were concentrated on conducting in-depth secondary research. These results were then rigorously validated, along with assumptions and sizing evaluations, by primary research involving industry professionals from all points of the value chain. In order to assure accuracy, the total market size was estimated using both top-down and bottom-up methods. industry breakdowns and data triangulation techniques were used to further improve the analysis and make it easier to estimate sizes accurately for different categories and subsegments of the modular robotics industry. The market size evaluations are more robust and reliable thanks to this exacting process.

Articulated modular robots to hold largest share of market by 2018

Due to their extensive use in important sectors, articulated modular robots are expected to dominate the modular robotics market. In particular, the metal and equipment industries use these robots to handle large metal sheets and components, and the automotive sector depends on them to handle heavy vehicle parts efficiently. Articulated modular robots play a crucial role in managing heavyweight jobs, which puts them as a significant contributor. By 2018, they have the largest proportion of the modular robotics market. Articulated modular robots are a popular option in industries where strength and accuracy in handling a variety of materials are essential because to their robustness and versatility.

Inquiry Before Buying @ https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=162980727

Market for metals and machinery to grow at highest CAGR during 2018–2023

Throughout the course of the projection period, the modular robots market is expected to develop at the highest Compound Annual Growth Rate (CAGR) in the metals and machinery industry, indicating significant growth ahead. Automation is being adopted at a rapid pace in the metals and machines sector due to the industry's growing demand for increased flexibility and efficiency. This business is changing dramatically as sophisticated robotics, combined with technologies like motion control and machine learning, gradually replace manual procedures or less flexible automated approaches. The metals and machines industry's growing adoption of modular robotics is a calculated step in the right direction towards increased output and operational effectiveness.

Automotive

The automobile sector has enthusiastically embraced modular robotics since its inception, utilising these cutting-edge systems to effectively and economically address changing requirements. Increased speed, accuracy, precision, adaptability, and agility in industrial processes have been brought about by modular robots, which has been instrumental in this transformation. This revolutionary effect has improved manufacturing operations' quality and productivity while also making the sector more competitive. The widespread application of modular robotics in the automobile industry is indicative of a dedication to maintaining a leading position in technical advancement for enhanced operational results.

The use of modular robotics systems has resulted in significant improvements throughout the automotive industry's whole production chain. These improvements have affected operations in stores, press shops, paint shops, and warehouses where final assembly and distribution are carried out. These adaptable robots are essential to many different tasks in the automotive sector, including as palletizing, material handling, foundry, laser and camera operations, and painting. Furthermore, modular robots help finish complex jobs like assembling whole automobile dashboards, assisting with the chassis assembly (marriage/decking) of large automobiles like excavators, and quickly and effectively installing different parts. This broad use of modular robotics highlights how versatile and effective they are at handling a variety of jobs within the car manufacturing process.

Browse For More Details - https://www.marketsandmarkets.com/Market-Reports/modular-robotic-market-162980727.html

Electrical and Electronics

The continuous trend of electronic equipment miniaturisation and the growing complexity of manufacturing processes have resulted in a noteworthy spike in the usage of modular robotics systems in the electrical and electronics industries. Within these industries, the incorporation of modular robotics has been crucial in automating and optimising manufacturing activities, enabling methodical and effective production procedures. As a result, new electronic devices that are reasonably priced for customers are being introduced to the market more frequently. The Asia-Pacific (APAC) region is notably experiencing a surge in demand for modular robotics in various sectors, which is indicative of the region's increasing importance in the global adoption of advanced automation technology.

Modular Robotics Market in APAC to grow at highest CAGR during forecast period

Over the course of the forecast period, the Asia-Pacific (APAC) region's modular robotics market is expected to grow at the highest Compound Annual Growth Rate (CAGR). The primary cause of this expected rise is the increasing automation investments made by major players in the automotive, electrical, and electronics industries, with a concentration on nations such as China, South Korea, and India. The strong uptake of modular robotics in Asia-Pacific (APAC) highlights the region's critical role in advancing automation technology and demonstrates a strategic commitment to raising productivity and efficiency across a range of industrial sectors.

ABB Ltd. (ABB, Switzerland), KUKA AG (KUKA, Germany), Mitsubishi Electric Corp. (Mitsubishi, Japan), FANUC Corporation (Fanuc, Japan), Kawasaki Heavy Industries Ltd. (Kawasaki Heavy Industries, Japan), and Yaskawa Electric Corporation (Yaskawa, Japan) are a few key players in the modular robotics market.

News Covered:

https://www.prnewswire.com/news-releases/modular-robotics-market-worth-10-76-billion-by-2023-exclusive-report-by-marketsandmarkets--868163389.html

About MarketsandMarkets™

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Visit Our Website: https://www.marketsandmarkets.com