Press release
Inspecting the Future: Inspection Robots Market Set to Reach $4.6 Billion by 2030
The growth of this market is attributed to the rising need to assess the structural integrity of aging infrastructure and assets, the increasing demand for standard quality products, and increasing labor costs for inspection activities. However, the high initial costs and maintenance costs are restraining the market growth. 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 the growth of this market.
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The global inspection robot 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.
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 robots 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. However, the mobile robots segment is projected to register the highest CAGR during the forecast period. The flexibility provided by mobile robots to cover a large infrastructure area to inspect by a single robot, the capabilities of mobile robots to inspect critical and hazardous areas, growing adoption of mobile robots in inspection services for oil and gas industries are the major factors driving the growth of this segment.
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. However, the laser scanning segment is projected to register the highest CAGR during the forecast period. This segment's growth is driven by inspection robots unique capabilities to navigate challenging, dynamic and potentially unsafe environments, facilitates autonomous operation on construction sites, the growing use of laser technology for scanning of products, and the rising adoption of 3D laser scanning for product quality inspection.
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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.
However, the inspection services segment is projected to register the highest CAGR during the forecast period. The growth of this segment is primarily driven by the rising demand for inspection of critical and high-value infrastructure, the growing need for robotic inspection in the oil, gas, and petrochemical industry, and the growing adoption of mobile and remote automated inspection robots by the inspection service industry.
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.
However, the Asia-Pacific is projected to register the highest CAGR during the forecast period. The growth of this market is primarily attributed to the accelerated economic growth of countries in the region, such as increasing manufacturing activities across the region, technologically leading countries such as China, South Korea, Japan, and India, growing urbanization in developing countries, and government funding for industrialization.
To gain more insights into the market with a detailed table of content and figures, click here:https://www.meticulousresearch.com/product/inspection-robots-market-5513
Scope of the Report
Inspection Robots Market, by Type
Stationary Robots
Mobile Robots
Inspection Robots Market, by Application
Visual Inspection
Ultrasonic Inspection
Photogrammetry
Laser Scanning
Thermal inspection
Radiography Inspection
Alternating Current Field Measurement
Tangential Eddy Current Array
Other Applications
Inspection Robots Market, by End User
Industry
Food and Beverage
Automotive
Semiconductor & Electronics
BFSI
Aerospace and Defense
Machinery & Metal
Pharmaceutical
Other Industries
Inspection Services
Inspection Robots Market, by Geography
North America
U.S.
Canada
Europe
U.K.
Germany
France
Italy
Spain
Switzerland
Sweden
Rest of Europe
Asia-Pacific
China
India
Japan
Australia
South Korea
Taiwan
Rest of Asia-Pacific
Latin America
Mexico
Brazil
Argentina
Rest of Latin America
Middle East & Africa
UAE
Saudi Arabia
Israel
Rest of Middle East & Africa
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