Modular Robotics Market by Type (SCARA Modular Robots, Articulated Modular Robots, Collaborative Modular Robots, Cartesian Modular Robots, Parallel Modular Robots, Others), by Payload (Upto 16 Kg, 16.1-60 Kg, 60.1-225 Kg, and More than 225 Kg), by Applica

Modular Robotics Market by Type (SCARA Modular Robots, Articulated Modular Robots, Collaborative Modular Robots, Cartesian Modular Robots, Parallel Modular Robots, Others), by Payload (Upto 16 Kg, 16.1-60 Kg, 60.1-225 Kg, and More than 225 Kg), by Application (Logistics, Aerospace & Defense, Healthcare, Food & Beverages, Automotive & Transportation, Manufacturing, Media & Entertainment, and Others)–Global Opportunity Analysis and Industry Forecast, 2024–2030

Modular Robotics Market size was valued at USD 10.01 billion in 2023 and is predicted to reach USD 28.89 billion by 2030, with a CAGR of 16.2% from 2024 to 2030.

The increasing adoption of automation across diverse sectors such as automotive, food and beverage, electronics, and others is significantly fuelling the market growth. According to the latest report from the International Robotics Federation, global factory installations of industrial robots reached 553,052 units, reflecting a 5% year-on-year growth rate. The industrial robot market is projected to expand further, with expectations of surpassing 590,000 units worldwide, growing at a rate of 7%. Modular robots play a crucial role in automating repetitive tasks, reducing errors, and streamlining operations. As businesses increasingly seek automation solutions to enhance efficiency and productivity, there is a growing demand for advanced robotics systems, including modular robots.

However, the high costs associated with modular robotics systems significantly hinder market growth. Initial investments in modular robots, which include expenses for hardware, software, customization, and integration into existing systems, can be substantial. These upfront costs act as a barrier for small and medium-sized enterprises (SMEs) from adopting this technology, thereby limiting market expansion. Additionally, ongoing expenses such as maintenance, training, and support further add to the financial burden. Despite the long-term benefits of modular robots such as improved efficiency and flexibility, these initial financial barriers delay widespread adoption and restrain market growth. However, advancements in technology and economies of scale are expected to help alleviate cost challenges over time, potentially making modular robotics more accessible and increasing adoption rates across industries.

On the contrary, the incorporation of artificial intelligence (AI) and machine learning (ML) offers substantial growth prospects for the modular robotics market. AI and ML empower modular robots to learn from data, autonomously make decisions, and dynamically adjust to different environments and tasks. This capability significantly enhances their efficiency, precision, and versatility across various sectors such as manufacturing, logistics, and healthcare. AI-driven modular robots can optimize production workflows, forecast maintenance requirements, and safely collaborate alongside human operators. As AI and ML technologies advance further, modular robotics are poised to transform industries by delivering more intelligent and adaptable solutions that enhance productivity and operational efficiency.

Segment Overview
The modular robotics market is segmented on the basis of type, payload, application, and region.
 By type, the market is classified into SCARA modular robots, articulated modular robots, collaborative modular robots, cartesian modular robots, parallel modular robots, and others.
 By payload, the market is segmented into upto 16 Kg, 16.1-60 Kg, 60.1-225 Kg, and more than 225 Kg.
 By application, the market is segmented into logistics, aerospace & defense, healthcare, food & beverages, automotive & transportation, manufacturing, media & entertainment, and others.
 Region-wise, the market is segmented into North America, Europe, Asia-Pacific, and rest of the world (RoW).

Key Market Players
The key players in the modular robotics market include:
• ABB Ltd.
• Midea Group (KUKA AG)
• FANUC Corporation
• Yaskawa Electric Corporation
• Kawasaki Heavy Industries Ltd.
• Denso Robotics
• Universal Robots
• Nachi-Fujikoshi Corporation
• Mitsubishi Electric Corporation
• Omron Corporation

Recent Developments
May 2024
ABB expanded the line of modular industrial robots, focusing on improving flexibility and efficiency in manufacturing. This development included the introduction of new models designed to be easily integrated into existing systems, enhancing automation capabilities. This expansion in modular robotics highlights ABB's commitment to advancing the modular robotics market by providing versatile and adaptable robotic solutions.

KEY BENEFITS
• The modular robotics market report provides a quantitative analysis of the current market and estimations from 2024 to 2030. This analysis assists in identifying the prevailing market opportunities.
• The study comprises a comprehensive analysis of the trends, including current and future trends for depicting prevalent investment pockets in the market.
• The information related to key drivers, restraints, and opportunities and their impact on the modular robotics market is provided in the report.
• The competitive analysis of the market players along with their market share in the modular robotics market is provided in the report.
• The SWOT analysis and Porter’s Five Forces model are elaborated in the study.
• The value chain analysis in the market study provides a clear picture of the role of stakeholders.