power and energy

  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, ti...