Press release
Inspection Robots Market to Reach $4.6 Billion by 2030
inspection robots
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The global inspection robots market is projected to reach $ 4.6 billion by 2030, at a CAGR of 21.6% from 2023 to 2030. Based on volume, this market is projected to reach 203 thousand units by 2030, at a CAGR of 22.7% from 2023 to 2030. The growth of this market is attributed to the rising need to assess the structural integrity of aging infrastructure and assets, increasing demand for standard quality products, and increasing labor costs for inspection activities. Furthermore, the increasing use of robots for inspection in insurance sectors and the adoption of robots for inspections by MRO services are expected to create significant opportunities for this market. However, complexities in the integration of inspection robots in hazardous environments and scenarios challenge this market's growth. Also, high initial costs and maintenance costs are restraining the growth of this market.
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The global inspection robots market is segmented based on type, application, end user, and geography. The study also evaluates industry competitors and analyses the regional and country-level markets.
Key Players
The key players profiled in the global inspection robots market study include ABB Ltd (Switzerland), KUKA AG (Germany), Universal Robots A/S (Denmark), FANUC CORPORATION (Japan), DENSO CORPORATION (Japan), Mitsubishi Heavy Industries, Ltd. (Japan), Yaskawa Electric Corporation (Japan), Seiko Epson Corporation (Japan), Waygate Technologies (Germany), Eddyfi Technologies (Canada), ANYbotics AG (Switzerland), Hangzhou Shenhao Technology Co., Ltd. (China), Robotnik Automation S.L. (Spain), PetroBot Technologies Private Limited (India), Systemantics India Pvt. Ltd. (India), SMP Robotics Systems Corp. (U.S.), and Energy Robotics GmbH (Germany).
Based on type, the global inspection robots market is segmented into stationary and mobile robots. In 2023, the stationary robot segment is expected to account for the larger share of the global inspection robots market. The large market share of this segment is attributed to the rising need to meet specified quality standards, high efficiency with reduced downtimes provided by stationary robots, greater occupational safety, and intelligent data analysis.
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Based on application, the global inspection robots market is segmented into visual inspection, ultrasonic inspection, photogrammetry, laser scanning, thermal inspection, radiography inspection, alternating current field measurement, tangential eddy current array, and other applications. In 2023, the visual inspection segment is expected to account for the largest share of the global inspection robots market. Visual inspection is a common method that is widely used to inspect a variety of qualities, such as the presence of fractures, dimension measurement, and coating uniformity. Visual inspection comprises of visual inception of ground, product, and infrastructure carried out by smart cameras mounted on robots. The need to reduce human intervention in dangerous and critical environments, initiatives to launch robotic inspection systems in the market, and the rising need to improve the production quality of electronic components and increase product reliability contribute to this segment's large share.
Based on end user, the global inspection robots market is segmented into industry and inspection services. In 2023, the industry segment is expected to account for the largest share of the inspection robots market. The large market share of this segment is attributed to the growing demand for visual inspection, increased demand for high-quality standard products, adoption of robots for inspection of products quality, and the growing need to match dynamic production across manufacturing industries, reduce quality inspection times, and streamline workflows. The industry segment is further classified into automotive, semiconductor & electronics, food and beverage, aerospace and defense, machinery & metal, pharmaceutical, BFSI, and others.
Based on geography, the global inspection robots market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2023, North America is expected to account for the largest share of the inspection robots market. The large share of this market is attributed to the growing demand for high-quality products, the growing cost of labor, tight deadlines of manufacturing industries, increasing adoption of automation and advanced technologies, and favorable initiatives by the market players.
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Key Questions Answered in the Report:
Which are the high-growth market segments in type, application, end user, and geography?
What is the historical market size for inspection robots across the globe?
What are the market forecasts and estimates for the period 2023-2030?
What are the major drivers, opportunities, and challenges in the global inspection robots market?
Who are the major players in the market, and what are their market shares?
How is the competitive landscape for the global inspection robots market?
What are the recent developments in the global inspection robots market?
What are the different strategies adopted by the major players in the market?
What are the key geographic trends, and which are the high-growth countries?
Who are the local emerging players in the global inspection robots market, and how do they compete with other players?
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