The need for automation in the manufacturing sector has increased considerably in the past few years, which can be ascribed to the rapidly rising population. Since the number of consumers has increased, the need for increasing efficiency and productivity in manufacturing facilities has grown substantially. This is leading to the utilization of advanced technologies in the manufacturing sector. For example, the penetration of IIoT (industrial internet of things) in industries has been rising swiftly these days.
In terms of manufacturing capability, the technology has truly transformed the industrial sector. The integration of IIoT has led to streamlined maintenance, increased efficiency, and efficient asset monitoring. Now, machinery maintenance can be schedules with innovative data insights and real-time tracking even before a problem arises. The technology is further changing the face of industries by transforming conventional, linear manufacturing supply chains into dynamic and interconnected systems. All these factors, in turn, have been resulting in the growth of the modular robotics market.
The demand for collaborative modular robotics systems (cobots) has especially been rising in the logistics industry. By making use of cobots, the human operator just needs to directly provide the parts to the robot, which will then perform the rest of the task. This lead to reduced cost, time, and floor space. The versatile nature of cobots allow them to take on a multitude of tasks with the help of suitable end-effectors. These robots are widely being used in the logistics industry for transporting and carrying loads.
The global modular robotics market is predicted to attain a value of $15.1 billion by 2030, increasing from $5.6 billion in 2019, progressing at a 9.9% CAGR during the forecast period (2020–2030). On the basis of robot type, the market is categorized into collaborative modular robots, articulated modular robots, parallel modular robots, Cartesian modular robots, and selective compliance assembly robot arm modular robots. Out of these, the articulated modular robots category dominated the market in 2019.
