Surging Demand for Industrial Automation Drives Market Expansion
The global modular robotics market is experiencing robust growth, projected to reach a value of US$ 26,413.6 Mn by 2027, with a remarkable CAGR of over 14% from 2019 to 2027. This growth is fueled by the escalating adoption of industrial automation worldwide. The market’s resilience is further supported by the strong presence of key industries like automotive and electronics, where modular robots demonstrate their adaptability by changing configurations according to manufacturers’ needs. As a result, the ability of modular robots to enhance production efficiency is a key driving force behind the market’s upward trajectory.
Get Free Sample: https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=56643
Hardware Dominates Component Segment, Cobots Lead in Robot Types
The hardware component segment reigns supreme in the global modular robotics market. Modular robotics, characterized by multiple interchangeable hardware modules, offers an extended lifespan by allowing flexibility in size and shape adjustments based on specific tasks. Among robot types, collaborative robots (cobots) are expected to witness significant expansion. Cobots, designed to work alongside human workers in industrial settings, are gaining traction due to their numerous advantages. While demand for collaborative robots is currently moderate, it is anticipated to surge in the coming years, particularly in highly automated industries such as automotive and electronics, as advancements in end-effectors contribute to their increased adoption.