Dublin, Nov. 18, 2020 (GLOBE NEWSWIRE) -- The "Modular Robotics Market Research Report: By Offering, Robot Type, Payload Capacity, End User - Global Industry Analysis and Growth Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.
The revenue of the market will rise from $5.6 billion to $15.1 billion from 2019 to 2030, with the market demonstrating a CAGR of 9.9% from 2020 to 2030.
The rising requirement for automation in manufacturing and warehouse operations is pushing up the global demand for collaborative modular robotics systems. This is, in turn, boosting the sales of modular robotics systems all over the world, which is causing the surge of the global modular robotics market.
A key market driver is the rising usage of collaborative modular robotics systems or cobots as they are sometimes called, in the logistics industry. With the adoption of these robots, the operators can hand over the parts to the robots for performing the rest of the tasks, which results in faster production processes, lesser expenditure, and lesser floor space requirements. These robots are also being used for load carrying and transporting tasks, because of their versatility.
Another factor fueling the progress of the market is the rising requirement for automation in manufacturing processes. The increasing requirements for faster manufacturing times, high efficiency in production processes, and higher manufacturing outputs are augmenting the need for automation in industries. As a result, modular robotics systems are being increasingly used in various operations in factories and warehouses. When offering is taken into consideration, the modular robotics market is classified into software, hardware, and services.
Out of these categories, the software category is predicted to exhibit the fastest growth in the market in the future years, mainly due to the burgeoning requirement for software for checking the real-time functioning of a modular robotics system and the growing integration of IoT and AI in these robots. However, despite this factor, the highest market growth will be demonstrated by the hardware category, under the offering segment, in the upcoming years.
According to the forecast of the market research company this category will hold the highest revenue share in the market in the future. Depending on robot type, the market is divided into SCARA (selective compliance assistance robot arm) modular robotics systems, collaborative modular robots, cartesian modular robots, parallel modular robots, and articulated modular robotics systems, out of which, the articulated modular robotics system division will register the highest growth in the market in the forthcoming years.
Historically, the modular robotics market exhibited the highest growth in the Asia-Pacific (APAC) region and this trend will continue in the coming years as well, primarily because of the ballooning investments being made in electricals, electronics, and automotive industries, especially in the regional nations such as China, South Korea, and India. In addition to this, the rising usage of collaborative modular robotics systems in manufacturing operations is massively propelling the sales of these robots in the region.
Hence, it can be inferred from the above paragraphs that the sales of modular robotics systems will rise steeply throughout the world in the coming years, mainly because of the growing requirement for automation in factory, warehouse, and logistics operations and the rising usage of collaborative modular robotics systems in various industries.
Key Topics Covered:
Chapter 1. Research Background
1.1 Research Objectives
1.2 Market Definition
1.3 Research Scope
1.4 Key Stakeholders
Chapter 2. Research Methodology
2.1 Secondary Research
2.2 Primary Research
2.3 Market Size Estimation
2.4 Data Triangulation
2.5 Currency Conversion Rates
2.6 Assumptions for the Study
2.7 Notes and Caveats
2.8 Impact of COVID-19 Outbreak
Chapter 3. Executive Summary
Chapter 4. Introduction
4.1 Definition of Market Segments
4.1.1 By Offering
22.214.171.124.2 Driver module
4.1.2 By Robot Type
126.96.36.199 Articulated modular robots
188.8.131.52 Cartesian modular robots
184.108.40.206 SCARA modular robots
220.127.116.11 Parallel modular robots
18.104.22.168 Collaborative modular robots
4.1.3 By Payload Capacity
22.214.171.124 1-16.0 Kg
126.96.36.199 16.1-60.0 Kg
188.8.131.52 60.1-225.0 Kg
184.108.40.206 More Than 225.0 Kg
4.1.4 By End User
220.127.116.11.2 Electrical & electronics
18.104.22.168.3 Plastics & rubber
22.214.171.124.4 Metals & machinery
126.96.36.199.5 Food & beverages
4.2 Value Chain Analysis
4.3 Market Dynamics
188.8.131.52 Penetration of IIoT in industrial manufacturing
184.108.40.206 Surging demand for automation in manufacturing industry
220.127.116.11 Growing demand for collaborative modular robots
18.104.22.168 Impact analysis of drivers on market forecast
22.214.171.124 Complexity in design of modular robots
126.96.36.199 Impact analysis of restraints on market forecast
188.8.131.52 Use of artificial intelligence to improve productivity
4.4 Porter's Five Forces Analysis
Chapter 5. Global Market Size and Forecast
5.1 By Offering
5.1.1 Hardware, by Type
5.2 By Robot Type
5.3 By Payload Capacity
5.4 By End User
5.4.1 Industrial, by Type
5.5 By Region
Chapter 6. North America Market Size and Forecast
Chapter 7. Europe Market Size and Forecast
Chapter 8. APAC Market Size and Forecast
Chapter 9. LATAM Market Size and Forecast
Chapter 10. MEA Market Size and Forecast
Chapter 11. Competitive Landscape
11.1 List of Players and Their Offerings
11.2 Ranking Analysis of Key Players
11.3 Competitive Benchmarking of Key Players
11.4 Global Strategic Developments in the Market
11.4.1 Product Launches
11.4.2 Facility Expansions
11.4.4 Client Wins
Chapter 12. Company Profiles
12.1 Business Overview
12.2 Product and Service Offerings
12.3 Key Financial Summary
Mitsubishi Electric Corporation
Schneider Electric SE
Kawasaki Heavy Industries Ltd.
Yaskawa Electric Corporation
Universal Robots A/S
Bender GmbH & Co. KG
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