Inspection Robotics Market include AETOs, GE Inspection Robotics, Honeybee Robotics, Inuktun Services, and Universal Robots.
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Superior quality output and high ROI fueling growth of the inspection robotics market
Better production quality assessment in industry critical applications, specifically that including aerospace and oil & gas exploration form the basis of their applications. Introduction of human errors in these processes can threaten loss of million dollars or endanger multiple human lives.
Advancement in automated visual capability of these next generation systems will enhance the system applicability
Generic robots were attributed with operations in specific area at particular time owing to lack of appropriate vision systems. Incorporation of vision sensors, cameras, and software that can control the operation of these automated systems has led to significant increase in the application of these systems.
High initial capital and social unacceptance owing to significant loss of human jobs are expected to be major challenges to the industry growth
Owing to its high initial one time capital, it is difficult for SMEs to adopt these solutions. Availability of low cost work force in some emerging economies that include China, India, and Indonesia, will also present considerable growth challenge. Moreover, requirement to meet regulatory compliances for the co-existence of the human and automated workforce such as Robot Ethics Charter in South Korea and RoboLaw project in the EU, is projected to hamper adoption of inspection robots.
Remotely operated vehicles major growth drivers of the inspection robotics market
Remotely-operated vehicles are tethered by cables and can be controlled through central control unit. High utilization of these systems in surveillance and examination operations is expected to be the major growth driver for this market. However, autonomous solutions are increasingly gaining popularity, owing to their ease of utilization, and the segment is expected to witness highest growth rate over the forecast period.
Key players in the inspection robotics market include AETOs, GE Inspection Robotics, Honeybee Robotics, Inuktun Services, and Universal Robots.
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Inspection Robotics Market Taxonomy
On the basis of control types, the global inspection robotics market is classified into:
• Remotely operated vehicles (ROV)
On the basis of end use industries, the global inspection robotics market is classified into:
• Oil & Gas
• Food & beverage
• Aerospace & defense
• Power generation
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