The ballooning utilization of collaborative modular robotics systems is one of the biggest factors responsible for the expansion of the global modular robotics market. Cobots, as they are popularly called, are revolutionizing robot and human relationships in the logistics and manufacturing industries. These systems allow operators to directly provide parts and components to robots for performing the rest of the operation, which leads to reduced requirement for floor space, lower costs, and shorter process time.
Additionally, the highly versatile nature of these systems allows them to perform various tasks and operations with the help of several suitable end-effectors. In the logistics industry, cobots are used for inspecting fragile goods and transporting loads and machine parts. Because of these reasons, the sales of collaborative modular robotics systems are rising rapidly across the world. Besides this, the growing requirement for automation in the manufacturing industry is also fueling the demand for these robots around the world.
Due to the aforementioned factors, the modular robotics market is growing rapidly all over the world. The valuation of the market is predicted to rise from $5.6 billion to $15.1 billion from 2019 to 2030. Furthermore, the market is expected to progress at a CAGR of 9.9% between 2020 and 2030. Depending on robot type, the market is categorized into cartesian modular robots, articulated modular robotics systems, SCARA modular robotics systems, parallel modular robots, and collaborative modular robots.
Out of these, the articulated modular robotics systems category recorded the highest growth in the market in the past years and this trend is likely to continue in the coming years as well. This would be due to the large-scale usage of these robots for handling and managing heavy automotive components and parts in the automotive industry. In addition to this, these robots are extensively used for handling heavy metal parts and sheets in the metal and machinery industry.
The growing sales of these robots are boosting the demand for services, software, and hardware. Out of these, the demand for hardware will be the highest in the future, as per the forecast of the market research company, P&S Intelligence. Sensors, manipulators, driver modules, and controllers are the most commonly used types of hardware. Amongst these, the usage of controllers is currently the highest, because of the utilization of robot controllers in various industrial robots for accomplishing point-to-point repetitive tasks.
Geographically, the modular robotics market registered the highest growth in the Asia-Pacific (APAC) region in the years gone by. This was because of the huge investments that were made in automation in electricals, electronics, and automotive industries, particularly in countries such as India, China, and South Korea. In addition to this, the high usage of collaborative modular robotics systems by various manufacturers further propelled the advancement of the market in the region in the past.
Hence, it can be said with full surety that the sales of modular robotics systems would shoot-up all over the world in the forthcoming years, mainly because of the rising requirement for automation in various industries such as automotive, logistics, electricals, and electronics and also, in the manufacturing sector.
