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The Modular Robotics Industry was estimated to be worth USD 10.5 billion in 2022. It is projected to grow at a compound annual growth rate (CAGR) of 18.1% during the forecast period of 2023-2030, reaching a market value of USD 40.68 billion by 2030.
This significant growth in the industry reflects the increasing demand for modular robotics solutions across various sectors. The adoption of modular robotics systems offers numerous benefits, including enhanced flexibility, scalability, and efficiency in operations.
The forecasted CAGR of 18.1% highlights the industry's potential for substantial expansion in the coming years. Factors driving this growth include advancements in technology, rising automation needs, and the increasing focus on streamlining processes and reducing costs.
Moreover, the modular robotics industry is witnessing a surge in investments and research and development activities. This influx of resources is expected to fuel innovation, leading to the development of more sophisticated and versatile modular robotics solutions.
Furthermore, the market's growth is also attributed to the expanding applications of modular robotics in various sectors, such as manufacturing, healthcare, logistics, and agriculture. These industries are recognizing the advantages of modular robotics in improving productivity, precision, and safety.
In conclusion, the Modular Robotics Industry is poised for remarkable growth, with a projected market value of USD 40.68 billion by 2030. The industry's expansion is driven by technological advancements, increasing automation needs, and the growing recognition of the benefits offered by modular robotics solutions across diverse sectors.
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KEY MARKET SEGMENTATION
By Robot Type
By Industry
Key Players
The major key players are 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., Rethink Robotics, and others.
DRIVERS
Flexibility and personalization systems for modular robotics enable customization and flexibility in the development of robotic solutions suited to particular applications and sectors.
Cost-effectiveness By permitting the reuse of similar components across several applications, modular robots frequently enable cost-effective solutions.
Simple Maintenance Modular designs save downtime and maintenance costs by making it simpler to identify and swap out malfunctioning parts.
Scalability is one of the systems that can readily be scaled up or down to accommodate shifting operational or production requirements.
OPPORTUNITY
Industry Applications Modular robotics find use in a variety of sectors, including manufacturing, healthcare, logistics, agriculture, and more, providing numerous prospects for expansion.
Technology Advancements Quickly Continuous improvements in robotics technology, such as those in sensors, artificial intelligence, and materials, create opportunities for creative modular solutions.
Robotic collaboration The development of collaborative robots (cobots) expands opportunities for interaction and cooperation between humans and robots, particularly when performing flexible jobs.
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Table of Contents
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