Modular Robotics Market Size, Share, Industry Trends and Forecast to 2030

Modular Robotics Market Size & CAGR in 2021

The global modular robotics market is expected to grow at a CAGR of 5.2% from 2021 to 2028. The market size is projected to reach USD 10.5 billion by 2028, up from USD 7.2 billion in 2021.

COVID-19 Impact on the Modular Robotics Market

The modular robotics market faced challenges due to the COVID-19 pandemic, leading to supply chain disruptions and decreased demand. However, the market quickly adapted to the new normal by incorporating safety measures and leveraging technology for remote operations.

Modular Robotics Dynamics

The modular robotics market is driven by factors such as the increasing adoption of automation in various industries, the need for flexible and scalable robotic solutions, and advancements in artificial intelligence and machine learning.

Segments and Related Analysis

The modular robotics market is segmented based on component, robot type, application, and industry vertical. Components include software, hardware, and services, while robot types include mobile, fixed, and collaborative robots.

By Region Analysis

The modular robotics market is analyzed across regions such as North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. North America leads the market due to technological advancements and investments in automation.

Key Market Players and Competitive Landscape

Major players in the modular robotics market include ABB Ltd, KUKA AG, FANUC Corporation, Yaskawa Electric Corporation, and Universal Robots. The market is highly competitive, with key players focusing on innovation and strategic partnerships.

Recent Happenings in the Modular Robotics Market

In recent developments, companies like ABB Ltd have introduced new collaborative robot solutions, while FANUC Corporation has expanded its product portfolio to meet the growing demand for modular robotics. These advancements indicate a promising future for the modular robotics market.