Press release
Inspection Robots Market Business Trends, and Progress Insight 2030 | At a CAGR of 30.9%
Inspection Robots Market
The inspection robots market size was valued at $940.0 million in 2020, and is expected to reach $13.9 billion by 2030, registering a CAGR of 30.9% from 2021 to 2030.
Benefits such as safety of workers and inspection of objects that are hard to observe by naked eyes and better organization of data and efficiency offered by robots have boosted the growth of the global inspection robots market. However, high cost and failure in inspection with collapse in operating systems hinder the market growth. On the contrary, integration of internet of things and artificial intelligence opens new opportunities for market players in the coming years.
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Covid-19 scenario:
• The Covid-19 pandemic severely affected the R&D funding and manufacturing of inspection robots. The strict regulations of social distancing and lack of workforce hampered manufacturing.
• The construction, hotel, and transportation activities halted during the pandemic. This disrupted the supply chain and increased the prices of raw materials.
The report segments the global inspection robots market on the basis of robot type, testing type, end-user industry, and region.
Based on robot type, the mobile robots segment held the largest share in 2020, contributing to more than three-fourths of the market. However, the stationary robotic arm segment is estimated to portray the highest CAGR of 32.1% from 2021 to 2030.
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On the basis of testing type, the automated metrology segment is projected to manifest the highest CAGR of 31.6% during the forecast period. However, the non-destructive inspection segment held the lion's share in 2020, accounting for nearly 90% of the market.
The global inspection robots market is analyzed across several regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across North America dominated in 2020, holding more than two-fifths of the market. Moreover, the market across Asia-Pacific is projected to showcase the highest CAGR of 34.4% during the forecast period.
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Leading Players:
The global inspection robots market report includes an in-depth analysis of the prime market players such as Eddyfi Technologies, Gecko Robotics, Inc., Honeybee Robotics, Genesis Systems, JH Robotics, Inc., Invert Robotics, Shenzhen SROD Industrial Group Co., Ltd., Montrose Technologies Inc., Universal Robots, and Waygate Technologies.
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