Modular robotics market is anticipated to grow at a CAGR of 17.5% during the forecast period. The growing investment in industrial automation and increasing adoption of collaborative modular robots owing to their benefits and features are some key factors driving the growth of the market.  Manufacturers are integrating new technologies, including the Internet of Things (IoT), cloud computing and analytics, and AI and machine learning into their automotive production facilities and throughout their operations. 

The incorporation of industry 4.0 supports physical production and operations with smart digital technology manufacturing, machine learning, and data analytics which is accelerating the growth of the market during the forecast period. For instance, in June 2022, the Tamil Nadu government (India) launched a series of initiatives to support the state to become a $1 trillion economy by 2030, with a contribution of around $250 billion by the manufacturing sector. The Centre will provide a dedicated IT engineering ecosystem to support the micro small and medium enterprises (MSME) sector and students across Tamil Nadu. Further, it will support the growth of various industries such as aerospace, defense, automotive and electric vehicles. The government will equip the latest technologies such as a 3D experience platform for up-skilling and facilitating future-ready innovations regarding the modular robotics market.

Impact of COVID-19 Pandemic on the Global Modular Robotics Market

The COVID-19 pandemic has positively impacted the global modular robotics market. As a result of the difficulties brought by COVID-19 and its associated lockdowns, many individuals and companies have turned to robots to overcome the challenges of the pandemic. Compared with traditional human labor, robotic and autonomous systems have advantages such as an intrinsic immunity to the virus and an inability for the human-robot-human spread of any disease-causing pathogens, though there are still many technical hurdles for the robotics industry to overcome. The potential of modular robotics is high, therefore robotics industry is anticipated to leap forward due to this unexpected pandemic. 

Segmental Outlook 

The global modular robotics market is segmented by robot type and end-user. The market segmentation based on the robot type includes articulated modular robots, SCARA modular robots, and collaborative modular robots. Based on end-user, the market is segmented into automotive, electrical & electronics, plastic, rubber, and chemicals.

Automotive Segment Holds Considerable Share in the Global Modular Robotics Market

Based on end-user, the market is segmented into automotive, electrical & electronics, plastic, rubber, and chemicals. Based on end-user, in 2021, the automotive segment held a considerable share in the global modular robotics market. Significant demand for modular robots from the automotive industry along with the growing automotive industry is a key factor driving the growth of this market segment. According to the International Federation of Robotics (IFR), the automotive industry rose by 16% to 875 units, representing 40% of the robot installations in the UK in 2020.

Regional Outlooks

The global modular robotics market is further segmented based on geography including North America (the US and Canada), Europe (UK, Italy, Spain, Germany, France, and Others), Asia-Pacific (India, China, Japan, South Korea, and Others), and the Rest of the World (the Middle East & Africa and Latin America). The market can be analyzed for a particular region or country level as per the requirement. North American region holds a potential share in the market. A growing number of robot suppliers coupled with a well-developed technological infrastructure is promoting market growth in the region. According to Instrument Flight Rules (IFR), the US shipped 33,800 units and is the second-largest supplier across the globe.

Global Modular Robotics Market Growth, by Region 2022-2028

Asia-Pacific to Exhibit Considerable Growth in the Global Modular Robotics Market

Asia-Pacific region is anticipated to exhibit considerable growth in the global modular robotics market during the forecast period. The increasing investment in automation by the automotive and electrical and electronics players, mainly in emerging economies including China, South Korea, and India are key factors driving the growth of the regional market. Additionally, the increasing adoption of collaborative modular robots by manufacturers has elevated the demand for modular robotics in Asia-Pacific.

Market Players Outlook

The major companies serving the global modular robotics market include ABB Ltd., KUKA AG, Mitsubishi Electric Corp., FANUC Corp., and Kawasaki Heavy Industries Ltd. The companies are focusing on product launches, geographical expansions, mergers and acquisitions, and finding a new market or innovation in their core competency to expand individual market share. 

For instance, in December 2021, Doosan Robotics Co. produced an unmanned modular robot cafe in cooperation with Folletto Robotics, a local unmanned beverage manufacturing system maker. Doosan Robotics is a subsidiary wholly owned by Doosan Corp., a holding company of Doosan Group, South Korea's 15th largest conglomerate by the asset. The unmanned modular robot cafe is a kind of collaborative robot, which refers to a robot that can work with a human. With this launch, Doosan Robotics has been aggressively advancing into the business of collaborative robots, including medical robots and camera robots.

The Report Covers

• Market value data analysis of 2021 and forecast to 2028.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the global modular robotics market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market-entry and market expansion strategies.
• Competitive strategies by identifying ‘who-stands-where’ in the market.