Dublin, Nov. 02, 2018 (GLOBE NEWSWIRE) -- The "Modular Robotics Market by Robot Type (Articulated Modular Robots, SCARA Modular Robots and Collaborative Modular Robots), Industry (Automotive, Electrical and Electronic, Plastic, Rubber and Chemicals) and Geography - Global Forecast 2023" report has been added to ResearchAndMarkets.com's offering.

The modular robotics market is expected to reach USD 10.76 billion by 2023 from USD 4.70 billion in 2018, at a CAGR of 18.00% during the forecast period.

Factors driving the growth of the modular robotics market include growing investment in industrial automation and increasing adoption of collaborative modular robots owing to their benefits and features. The complexity of modular robots with respect to their designs and controlling electronics act as major restraint for this market.

The market for collaborative modular robots (co-bots) is expected to grow at the highest CAGR during the forecast period. The high adoption of these robots is also attributed to their safety features and benefits over other industrial robots to perform certain tasks (light-duty tasks). Co-bots integrate sensors, vision systems, and passive compliance and overcurrent detection features, which detect any imminent collision with humans and take appropriate actions to stop their movement or deactivate the arm or move the joint in the opposite direction to avoid injury.

The automotive industry is expected to hold the largest share of the modular robotics market during the forecast period. In the automotive industry, new capabilities of modular robotics have responded to changing demands in a more efficient and cost-effective way. In addition, the new levels of speed, accuracy, precision, flexibility, and agility achieved through modular robotics have improved competitiveness, quality, and productivity of the manufacturing processes. The growing demand for vehicles, especially from developing countries, has prompted automotive manufacturers and OEMs to opt for automation to increase production volume and meet the market demand. This has resulted into the high demand for modular robots from the automotive industry.

APAC is expected to dominate the modular robotics market during the forecast period. The increasing investment in automation by the automotive, and electrical and electronics players, especially in countries such as China, South Korea, and India, is expected to be the key driver for the market in APAC.

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights
4.1 Attractive Opportunities in Modular Robotics Market
4.2 Modular Robotics Market, By Robot Type
4.3 Market, By Industry
4.4 Market in APAC, Country vs Industry
4.5 Market, By Country

5 Market Overview
5.1 Introduction
5.2 Market Dynamics: Overview
5.2.1 Drivers
5.2.1.1 Growing Investments in Industrial Automation
5.2.1.2 Increasing Adoption of Collaborative Modular Robots Owing to Their Benefits and Features
5.2.2 Restraints
5.2.2.1 Complexity of Modular Robots With Respect to Their Designs and Controlling Electronics
5.2.3 Opportunities
5.2.3.1 Rising Adoption of Robotics-As-A-Service Model
5.2.4 Challenges
5.2.4.1 Interoperability Issues and Difficulty in Integration of Different Robotic Frameworks Into Existing Facilities
5.2.4.2 Address the Need for Safe Handling of Industrial-Grade Operations
5.3 Value Chain Analysis

6 Architecture of Modular Robots
6.1 Introduction
6.2 Chain Type
6.3 Lattice Type
6.4 Hybrid Type

7 Modular Robotics Market, By Robot Type
7.1 Introduction
7.2 Articulated Modular Robots
7.2.1 Articulated Modular Robots to Hold Largest Share of Modular Robotics Market By 2018
7.3 Cartesian Modular Robots
7.3.1 Cartesian Modular Robots to Hold Second-Largest Share of Modular Robotics Market By 2018.
7.4 Scara Modular Robots
7.4.1 Best Price-To-Performance Ratio Offered By Scara Modular Robots for High-Speed Applications to Drive Market During Forecast Period
7.5 Parallel Modular Robots
7.5.1 High Adoption Rate for Pick-And-Place Applications in Food & Beverages Industry to Drive Market for Parallel Modular Robots
7.6 Collaborative Modular Robots
7.6.1 Ability to Work Safely Alongside Humans Expected to Fuel Growth of Market for Collaborative Modular Robots
7.7 Other Modular Robots
7.7.1 Spherical Robots
7.7.1.1 Ability to Optimally Perform Tasks Involving Low-Weight Payloads Drives Market for Spherical Modular Robots
7.7.2 Cylindrical Robots
7.7.2.1 Adoption of Cylindrical Modular Robots in Manufacturing Industries for Welding Applications is Key Factor Driving Factor

8 Modular Robotics Market, By Industry
8.1 Introduction
8.2 Automotive
8.2.1 Adoption of Modular Robots for Automatizing Assembly Lines is Key Factor Driving Growth of Market for Automotive Industry
8.3 Electrical and Electronics
8.3.1 Ability of Modular Robotics Systems to Enable Efficient Automation and Systematic Manufacturing Processes to Boost Their Adoption in Electrical and Electronics Industry
8.4 Plastics, Rubber, and Chemicals
8.4.1 Capability to Handle Hazardous Explosive Substances Boosts Adoption of Modular Robots in Plastics, Rubber, and Chemicals Industry
8.5 Metals and Machinery
8.5.1 High Rate of Adoption of Modular Robots for Applications Such as Welding and Pick-And-Place to Drive Market for Metals and Machinery Industry
8.6 Food & Beverages
8.6.1 Adoption of Parallel Modular Robots for Pick-And-Place Application is Key Trend Observed in Food & Beverages Industry
8.7 Precision Engineering and Optics
8.7.1 Adoption of Modular Robotics System for Error-Proofing Processes in Precision Engineering and Optics Industry to Fuel Growth of Modular Robotics Market During Forecast Period
8.8 Pharmaceuticals and Cosmetics
8.8.1 Use of Modular Robots in Pharmaceuticals and Cosmetics Industries to Handle Hazardous Biologicals and Radioactive Substances to Drive Growth of Market
8.9 Others
8.9.1 Adoption of Modular Robots in Other Industries to Perform Tasks Such as Material Removal Increasing Adoption of Modular Robotic Systems in Industries Such as Wood and Glass to Fuel Growth of Modular Robotics Market for Other Industries

9 Geographic Analysis

10 Competitive Landscape

• ABB
• ACMI Spa
• Aurotek
• Cassioli Srl
• CMA Robotics Spa
• Comau S.P.A
• Daihen
• Denso
• Engel
• Fanuc
• Kawasaki Heavy Industries
• Kuka
• Mitsubishi Electric
• Nachi-Fujikoshi
• Rethink Robotics
• Stubli International
• Toshiba Machine
• Universal Robots A/S
• Yamaha Motor
• Yaskawa

For more information about this report visit https://www.researchandmarkets.com/research/fg3x3m/modular_robotics?w=12

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Related Topics: Robotics

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