How Does Adoption of Modular Robotic System Reduce Manufacturing Cost and Time?

 

Factors such as the spurring demand for collaborative modular robotic systems, or cobots, from the logistics industry and escalating need for automation in the manufacturing sector will fuel the modular robotics market growth at a CAGR of 9.9% during the forecast period (2020–2030). These factors are expected to increase the revenue of the market from $5.6 billion in 2019 to $15.1 billion by 2030. Moreover, the increasing application of the industrial internet of things (IIoT) is the key manufacturing trend, due to the ability of this technology to reduce operational costs and enhance productivity.

The application of cobots has redefined the relationship between humans and robots across the manufacturing and logistics industries. These robots are used in the logistics industry to carry and transport loads and inspect fragile items. While working with cobots, the operator provides the parts to the robot directly, to perform the pending task, thus leading to a reduction in cost, time, and floor space requirement. Moreover, the versatile nature of these modular robots allows them to take on various tasks with the help of suitable end-effectors.

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Apart from this, cobots are also adopted in the automotive and electronics sectors due to the integration of machine vision and speech recognition in the end-effectors, including controllers and grippers. Additionally, the automobile sector also deploys articulated modular robots to handle heavy automotive parts. Similarly, these robots are adopted in the metal and machinery industry to handle heavy metal components and sheets. In addition to these modular robots, industries utilize parallel modular robots, cartesian modular robots, and selective compliance assembly robot arm (SCARA) modular robots.

Further, the offering segment of the modular robotics market is divided into software, hardware, and services. Till 2019, the software division displayed the highest growth rate due to the soaring demand for software to track the real-time functioning of molecular robots and the rising adoption of AI and IoT technologies. Under this segment, the hardware category is projected to generate the highest revenue in the forecast period. The category is further divided into sensor, driver module, controller, manipulator, and others. Among these, the demand for controllers will be the highest due to their use in industrial robots for point-to-point repetitive processes.