Over $15.0 Billion Worth of Modular Robotics Systems Sales Expected by 2030

The rising utilization of collaborative modular robotics systems in logistics and manufacturing industries is a major factor fueling the surge in the sales of modular robotics systems across the world. Also known as cobots, the collaborative modular robotics systems are redefining robot and human relationships in these industries. The adoption of these robots allows operators to directly provide the manufacturing parts to the robots to perform the remaining tasks, which leads to a drastic reduction in cost and time and also decreases the requirement of bigger floor spaces.

The versatile nature of these robots makes them highly sought after in a variety of tasks in multiple industries. For instance, cobots are deployed in the logistics industry for transporting loads and inspecting fragile devices and parts. Besides the logistics industry, modular robotics systems are also being extensively used in the manufacturing industry. This is mainly due to the increasing requirement of automation in manufacturing operations throughout the world. Moreover, modular robotics systems are also used in various warehouse operations.

Get More Insights: Modular Robotics Market Revenue Estimation and Growth Forecast Report

Because of the above-mentioned factors, the value of the global modular robotics market is predicted to increase from $5.6 billion to $15.1 billion from 2019 to 2030. The market is predicted to advance at a CAGR of 9.9% between 2020 and 2030. The most widely used types of modular robotics systems are cartesian modular robots, parallel modular robots, collaborative modular robots, articulated modular robotics, and SCARA modular robotics systems. Amongst these, the usage of the articulated modular robotics systems was found to be the highest in the past and this trend will continue in the future as well.

The main factor responsible for the heavy usage of these robotics systems is the large-scale adoption of the articulated modular robotics systems in the automotive industry, where it is extensively used for handling and managing heavy automotive components and parts. Additionally, these robots are also used for handling heavy metal components and sheets in the metal and machinery industry. Depending on offering, the modular robotics market is classified into software, hardware, and services. Out of these, the hardware division is predicted to account for the largest share in the market, in terms of revenue, in the forthcoming years.

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