Modular Robotics Market Size 2023, Forecast By 2032

The Business Research Company’s Modular Robotics Global Market Report 2023 is the most detailed report available on the market, including broad forecast periods and multiple geographies. The report covers the historic period – 2010-2021, and the forecast period – 2023-2032. The Modular Robotics Global Market Report 2023 evaluates modular robotics market size, growth rate, drivers, trends, and major companies.

The report provides a global perspective by covering 60 geographies and focusing on major economies in each region – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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The global modular robotics market size is expected to grow from $7.01 billion in 2022 to $8.16 billion in 2023 at a compound annual growth rate (CAGR) of 16.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of global modular robotics market size is expected to grow to $15.8 billion in 2027 at a CAGR of 15.8%.

The increasing adoption of robots in the electronics and automotive industries is driving the modular robotics market going forward. Robots are being adopted by the automotive and electronics industries for automation. By increasing automation in a factory, modular robotics decreases costs and improves efficiency in the automotive industry. Modular robots are also used in electronics manufacturing for lean production time and reducing costs. For instance, in 2022, according to the International Federation of Robotics, a Germany-based professional non-profit organization, there were 34,987 new robot installations in the United States in 2021, an increase of 14%. The automotive industry was the largest adopter, with 9,782 robot units installed. Similarly, in 2020, according to research conducted by Massachusetts Institute of Technology economists, in the United States, 4 manufacturing industries accounted for 70% of robots, among which, the highest percentage (38%) of robots are used by automakers. Thus, the increasing adoption of robots in the electronics and automotive industries is driving the modular robotics market.

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The modular robotics market segments in the report are:

1) By Product Type: SCARA Modular Robots, Articulated Modular Robots, Cartesian Modular Robots, Parallel Modular Robots, Other Robots

2) By Hardware Design: Chain-based, Lattice-based, Strut-based

3) By Configuration: Auto-Configuration, Manual Configuration

4) By End Use Industry: Automotive, Electronics and Electrical, Chemical, Food and Beverages, Pharmaceutical, and Other End Use Industries

The table of contents in TBRC’s modular robotics market report includes:

1. Executive Summary
2. Modular Robotics Market Characteristics
3. Modular Robotics Market Trends And Strategies
4. Modular Robotics Market – Macro Economic Scenario
5. Modular Robotics Market Size And Growth

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26. Africa Modular Robotics Market
27. Modular Robotics Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Modular Robotics Market
29. Modular Robotics Market Future Outlook and Potential Analysis
30. Appendix

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