TMCnet News
Global Modular Robotics Market 2018-2023 - Rising Adoption of Robotics-As-A-Service ModelDUBLIN, Nov. 5, 2018 /PRNewswire/ -- 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% 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. Based on robot type, the modular robotics market has been segmented into articulated modular robots, Cartesian modular robots, SCARA modular robots, parallel modular robots, collaborative modular robots, and other modular robots. The articulated modular robots are expected to hold the largest share of the market during the forecast period. The projected largest share of these robots in the market by 2018 is attributed to the high rate of adoption of these robots in the automotive industry for handling heavy automotive parts and in the metal and machinery industry for handling heavy metal sheets and components. The growing adoption of articulated modular robots in the food & beverages, plastics, rubber, and chemicals industries for automation of processing is the key factor expected to contribute to the growth of the modular robotics market during the forecast period. Based on industry, the modular robotics market has been segmented into, automotive; electrical and electronics; plastics rubber and chemical; metals and machinery; food & beverage; precision engineering and optics; pharmaceutical and cosmetics; and others. 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 provide improved competitiveness, quality, and productivity to the manufacturing processes. The growing demand for vehicles, especially from developing countries, has encouraged automotive manufacturers and OEMs to opt for automation to increase production volume and meet the market demand. This has contributed to the high demand for modular robots from the automotive industry. The major challenge for the companies in the modular robotics market is the interoperability issues and difficulty in integration of different robotic frameworks into existing facilities and addressing the need for safe handling of industrial-grade operations. Companies have adopted the product launch, partnership, collaboration, contract, agreement, expansion, and acquisition strategies to expand their market presence and distribution networks in the modular robotics market. Some of the major players in the modular robotics market are ABB Ltd. (ABB, Switzerland), KUKA AG (KUKA, Germany), Mitsubishi Electric Corp. (Mitsubishi, Japan), FANUC Corporation (Fanuc, Japan), Kawasaki Heavy Industries Ltd. (Kawasaki Heavy Industries, Japan), and Yaskawa Electric Corporation (Yaskawa, Japan). Growing investments in industrial automation Automotive Since the inception of modular robotics, the automotive industry has made intensive use of these robotics systems. In this 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. Modular robotics systems have brought about significant improvements in the entire production chain from operations in stores, press shops, and paint shops to the final assembly and distribution activities in warehouses. In the automotive industry, robots carry out some major activities of material handling, palletizing, laser and camera operations, foundry operations, and painting. The modular robots are also used in rounding out the spectrum work; e.g., they are used to install the complete dashboard of a car, join the chassis (marriage/decking) for heavy automotive such as excavators, or install components. Electrical and Electronics There is a significant rise in the adoption of modular robotics systems in the electrical and electronics industries with the miniaturization of electrical and electronic equipment as well as complexity involved in the manufacturing processes. The incorporation of modular robotics leads to efficient automation and systematic manufacturing processes in these industries, which results in the frequent introduction of new electronic products on the market at affordable prices for customers. The rise in demand for these robots is attributed to the increased installation in APAC. Critical questions would be;
Market Dynamics
Restraints
Opportunities
Challenges
Companies Mentioned
For more information about this report visit https://www.researchandmarkets.com/research/8lmckm/global_modular?w=5 Did you know that we also offer Custom Research? Visit our Custom Research page to learn more and schedule a meeting with our Custom Research Manager. Media Contact: Laura Wood, Senior Manager
SOURCE Research and Markets 
|
View original content: