Oct 25, 2018, 10:30 ET
CHICAGO, October 25, 2018 /PRNewswire/ --
According to the new market research report on 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", published by MarketsandMarkets™, the market is expected to grow from USD 4.70 billion in 2018 to USD 10.76 billion by 2023, at a CAGR of 18.00%.
(Logo: https://mma.prnewswire.com/media/660509/MarketsandMarkets_Logo.jpg )
Don't miss out on business opportunities in Modular Robotics Market.
Speak to Our Analyst and gain crucial industry insights that will help your business grow: https://www.marketsandmarkets.com/speaktoanalyst.asp?id=162980727
The growth of the modular robotics market is driven by factors such as growing investment in industrial automation and increasing adoption of collaborative modular robots owing to their benefits and features.
Articulated modular robots to hold largest share of market by 2018
Owing to the high rate of adoption of articulated modular robots in the automotive industry for handling heavy automotive parts and in the metal and machinery industry for handling heavy metal sheets and components, these robots are expected to hold the largest share of the modular robotics market by 2018.
Market for metals and machinery to grow at highest CAGR during 2018-2023
The modular robotics market for the metals and machinery industry is expected to grow at the highest CAGR during the forecast period. This industry presents an increasing demand for automation in the recent years and has responded quickly by gradually replacing manual or less flexible automated processes with robotics, in addition to other technologies, such as motion control and machine learning.
Browse in-depth TOC on "Modular Robotics Market"
68 - Tables
48 - Figures
166 - Pages
Modular robotics market in APAC to grow at highest CAGR during forecast period
The modular robotics market in APAC is expected to grow at the highest CAGR during the forecast period. The increasing investment in automation by the automotive, and electrical and electronics players, especially in countries such as China, South Korea, and India, is expected to be the key driver for the market in APAC.
Ask for PDF @ https://www.marketsandmarkets.com/pdfdownload.asp?id=162980727
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) are a few key players in the modular robotics market.
Please explore relevant report "Industrial Robotics Market" also.
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model - GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Mr. Shelly Singh
630 Dundee Road
Northbrook, IL 60062
Email: [email protected]
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/modular-robotic-market.asp
Visit Our Web Site: https://www.marketsandmarkets.com
Share this article