New York City, NY -- (SBWIRE) -- 09/02/2020 -- The global modular robotics market is projected to reach $15,149.7 million by 2030, from $5,619.1 million in 2019, at a 9.9% CAGR during 2020–2030. Manufacturers across industries, especially electronics and automotive, are focusing on increasing their production output and quality, while cutting down on operational costs and errors, by deploying robots. For instance, China's spending on robots, including those deployed for industrial purposes, is set to touch $29 billion in 2020.
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Under the offering segmentation, the main categories are services, hardware, and software. Amongst these, the hardware category will account for the highest market share in the forthcoming years. The hardware category is further divided into sensor, driver module, controller, and manipulator, out of which, the controller division generated the highest revenue in the modular robotics market during the last several years. This is credited to the incorporation of robot controllers in the industrial robots for making them effective in point-to-point repetitive operations.
The revenue generated for modular robotics firms by software is expected to experience the fastest surge till 2030, on the basis of offering. This is because sophisticated software is required to monitor the activities of modular robots in real time. Additionally, with the rapid deployment of IoT and artificial intelligence (AI) in manufacturing facilities, the requirement for software would rise further.
Browse report overview with detailed TOC on "Modular Robotics Market Research Report: By Offering (Hardware, Software, Services), Robot Type (Articulated Modular Robots, Cartesian Modular Robots, SCARA Modular Robots, Parallel Modular Robots, Collaborative Modular Robots), Payload Capacity (1–16 Kg, 16.1–60 Kg, 60.1–225 Kg, More Than 225 Kg), End User (Industrial, Commercial, Residential) - Global Industry Analysis and Growth Forecast to 2030" at:https://www.psmarketresearch.com/market-analysis/modular-robotics-market-report
The major players operating in the modular robotics market are swiftly expanding their operations in different geographical areas for increasing their share in the market. For example, ABB Ltd. started the first global healthcare research hub in the campus of Texas Medical Center (TMC) in Houston, Texas in October 2019. The firm showcased different concept technologies at the opening event such as an ambulatory YuMj robot, developed by the company for assisting the laboratory and medical professionals in logistics and laboratory operations in the hospitals.
Some of the leading players in the market are KUKA AG, Rethink Robotics GmbH, Mitsubishi Electric Corporation, DENSO Products and Services Americas Inc., Schneider Electric SE, Nachi-Fujikoshi Corporation, FANUC Corporation, Yaskawa Electric Corporation, Kawasaki Heavy Industries Ltd., Stäubli International AG, Yamaha Motor Co. Ltd., Universal Robots A/S, Vision Machinery Inc., and OTC DAIHEN Inc.
The research includes detailed analysis of;
Based on Offering
- Hardware
Controller
Driver module
Manipulator
Sensor
- Software
- Services
Based on Robot Type
- Articulated Modular Robots
- Cartesian Modular Robots
- Selective Compliance Assembly Robot Arm (SCARA) Modular Robots
- Parallel Modular Robots
- Collaborative Modular Robots
Based on Payload Capacity
- 1–16.0 Kg
- 16.1–60.0 Kg
- 60.1–225.0 Kg
- More Than 225.0 Kg
Based on End User
- Industrial
Automotive
Electrical & Electronics
Plastics & Rubber
Metals & Machinery
Food & Beverages
Healthcare
- Commercial
- Residential
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