Rockville, April 06, 2023 (GLOBE NEWSWIRE) -- The global modular robot market is estimated to exceed US$ 984.0 Million by the end of 2023, by growing at an impressive CAGR of 10.8% over the assessment period of 2023-2033.
A modular robotic system is an autonomous motion machine with variable geometry. Beyond the traditional perception, actuation, and control typically found in morphologically fixed robots, modular robots reconnect parts to adapt to new situations, perform different tasks, or recover.
Modular robots are typically composed of multiple building blocks from a relatively small repertoire with consistent docking interfaces that can transfer mechanical forces and moments, electrical power, and robot-wide communication.
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| Modular Robot Market Scope | |
| Report Coverage | Details |
| Base year | 2022 |
| Historic period | 2017-2021 |
| Forecast period | 2023-2033 |
| Growth momentum & CAGR | Accelerate at a CAGR of 10.8% |
| Market growth 2023-2033 | US$ 2,744.1 Million |
| Market structure | Fragmented |
| Regional analysis | North America, Europe, APAC, South America, and Middle East and Africa |
| Performing market contribution | North America 40% Share |
| Key countries | US, Canada, UK, France, and Germany |
| Competitive landscape | Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
| Key companies profiled | Beckhoff Automation, FLX Solutions Inc., Inovo Robotics ltd, Mergeflow, Modular Robotics, SolarCleano |
| Market dynamics | Parent market analysis, market growth inducers and obstacles, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for the forecast period. |
| Customization purview | If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Modular building blocks typically consist of a main structural actuation unit and possibly additional specialized units such as feet, grippers, wheels, payloads, cameras, energy storage, and generation.
There is also an extensive application of modular robots in the healthcare sector. These robots can replace prosthetic robotic arms and legs or therapeutic exoskeleton robots in this sector. Growing healthcare sector will require more utilization of such robots thereby leading to more sales of modular robots.
Key Takeaways from Study
- Global modular robots market is poised to expand impressively and reach the valuation of US$ 2,744.1 Million by the end of 2033.
- The global modular robots market witnessed a healthy CAGR of 5.2 % during 2018 to 2022.
- By application segment, packaging is likely to account for 12.6% of revenue share by obtaining a valuation of US$ 124.0 Million in 2023.
- North America region is expected to register a CAGR of 9.0% over the forecast period, as it will be valued at US$ 209.2 Million by 2023 end.
- Under product type segment, lattice modular robots is estimated to account for approximately a 31.4% share of aftermarket sub-segment in 2023.
- Singapore in South Asia & Oceania region provides more revenue generation opportunities and is expected to capture a market share of 24.8% in 2023.
“Adoption of heterogeneous system for modular robots can significantly boost the growth of the market” says a Fact.MR analyst
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Competitive Landscape
Manufacturers of modular robots are actively engaged in accommodating the surge in demand for robotics in different applications. In other words, the nature of the target application dictates what type of modular robot to use. Modular robots are gaining traction today because of their ease of integration and the ability to pack a lot of power into a small space. More technological advancements will lead to the demand for the product.
Market Development
Various researches are now being conducted on the modification of modular robots for its utilization in space. Such R & D investments and progressions in modular robots will take the market to new heights.
As the modular robots are still emerging and the manufacturers have more scope of the development of unique designs and products. Therefore, demand for modular robots across vivid end use vertical is likely to gain traction. Moreover, there is only limited presence of players which will allow the new entrants to establish themselves strongly in the emerging economies.
Segmentation of Modular Robot Industry Research
- By Type:
- Chain
- Lattice
- Hybrid
- By Topology:
- 1D
- 2D
- 3D
- By Design:
- Homogeneous Systems
- Heterogeneous Systems
- By Application:
- Packaging
- Palletizing
- Material handling
- Painting
- Welding
- Assembly
- Inspection
- Cutting
- Dispensing
- By End Use Industry:
- Aerospace and Defense
- Automotive
- Chemicals & Materials
- Electrical & Electronics
- Food and Beverage
- Healthcare
- Mining & Oil & Gas
- Retail & e-Commerce
- Logistics & Warehousing
- Packaging
- Others
- By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia and Oceania
- Middle East & Africa
More Valuable Insights
Fact.MR, in its new offering, presents an unbiased analysis of the global modular robot market, presenting historical demand data (2018-2022) and forecast statistics for the period of 2023-2033. the study divulges essential insights on the market on the basis of type (chain, lattice, hybrid), topology (1D, 2D, 3D), design (homogeneous systems, heterogeneous systems), application (packaging, palletizing, material handling, painting, welding, assembly, inspection, cutting, dispensing), end use industry (aerospace and defense, automotive, chemicals & materials, electrical & electronics, food and beverage, healthcare, mining & oil & gas, retail & e-commerce, logistics & warehousing, packaging, others) and across six major regions (North America, Latin America, Europe, East Asia, South Asia and Oceania, The Middle East & Africa).
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Key Questions Covered in the Modular Robot Market Report
- What will be the estimated size of the Market in 2023?
- At what rate will the global Modular Robot sales grow until 2033?
- Which are the factors hampering the Modular Robot demand?
- Which region will spearhead the growth in the global industry during 2023-2033?
- Which are the factors driving sales in the Modular Robot Market during the forecast period?
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