Modular Robotics Market Development Outlook, Emerging Trends and Growth Opportunities 2023


At a CAGR of 18.0% throughout the forecast period, the Modular Robotics Market is anticipated to increase from USD 4.70 billion in 2018 to USD 10.76 billion by 2023. Growing investments in industrial automation and rising use of collaborative modular robots due to their features and benefits are two factors propelling the growth of the modular robotics market.

In 2017, the Modular Robotics Market was dominated by ABB (Switzerland), Fanuc (Japan), Yaskawa (Japan), Kuka (Germany), and Kawasaki Heavy Industries (Japan). The main tactics used by the leading market players to seize a sizable portion of the Modular Robotics Market were product launches, alliances, and collaborations.

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Top 2 Players in the Modular Robotics Market:

FANUC has focused its efforts on achieving corporate stability and success as well as boosting consumer confidence in its goods and services. Reliable/Predictable/Easy to Repair, which helps it to cut downtime and increase operability for its clients, guides its efforts in product development. FANUC has developed the business divisions consisting of factory automation (FA), robotics, and RoboMachines for each product line as a result of the relatively slow growth of the automobile industry in China, Japan, and Europe. For continued competitive advantage, FANUC consistently places a high priority on R&D. It debuted brand-new goods in 2015, including the CR-35Ia, M-710iC/12L, and M-710iC/45M. It continues to increase production productivity through robotization; all of its products are produced in highly automated factories.

Because the industrial automation market is constantly evolving, ABB offers bright business possibilities. ABB can now remotely operate its offshore oil and gas platforms, giving it unified control over its direct service operations for thousands of robots all around the world. This remote control is made possible by advancements in communications technology, processing power, and new sensors. ABB is concentrating on a new era of industrial automation and anticipating holistic growth. In 2017, ABB and IBM began working together. As part of this partnership, ABB would combine its knowledge of industrial automation with IBM's (IoT) cognitive capabilities to assist its clients in adopting AI in a variety of industries, including utilities, business, transportation, and infrastructure. The primary elements anticipated to create growth prospects for the organisation in the upcoming years are the rising awareness of the effectiveness and safety of production units in industries and the growing need for industrial automation solutions to increase effectiveness and productivity.

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