Global Inspection Robots Market 2017-2021
About Inspection Robots Market
Industrial robots are likely to play an integral role across end-user industries (automotive, electronics and electrical and food and beverages) worldwide that are opting for automation of their critical applications to ensure operational efficiency and superior quality products. Inspection robots belonging to the family of industrial robots will subsequently find a higher adoption in industries like the oil and gas, petrochemical, and food and beverage industries. Initially, these industries carried out manual inspections, which fail to detect and scrutinize deviations or anomalies in the existing processes. To eliminate such instances, inspection robots are being deployed to ensure that processes are smooth and streamlined, and products match up to the quality standards.
Technavio’s analysts forecast the global inspection robots market to grow at a CAGR of 16.68% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global inspection robots market for 2017-2021. To calculate the market size, the report presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Inspection Robot Market 2017-2021
Technavio recognizes the following companies as the key players in the global inspection robot market: AETOS, GE Inspection Robotics, Honeybee Robotics, Inuktun Services, and Universal Robots.
Other Prominent Vendors in the market are: AZoRobotics, Calmation, Cognex, Cross Robotics, ECA Group, Faro, FMC Technologies, Genesis Systems Group, Hydrovision, Inspectorbots, JH Robotics, Lakeview Vision and Robotics, Leo Robotics, NuTec, RNA Automation, SuperDroid Robots, Robotic Automation Systems, Warren Industrial Solutions, and Wauseon Machine and Manufacturing.
Commenting on the report, an analyst from Technavio’s team said: “One trend in market is advances in robotic vision. Visual capability in modern robots has evolved from the earlier version of generic robots. The earlier robotic systems demanded customization as each part was expected to operate in an exact area at a particular time due to lack of robotic vision. However, with advances in technology cameras, sensors and software have enabled the robots to detect movement with precision.”
According to the report, one driver in the market is focusing on positive cashflow with time. Though robotic implementation entails a significantly high one-time investment, in the long run, businesses can generate positive cash flow and achieve a better return on investment (ROI) through this. With advanced capabilities, robots can help industries to minimize their labor cost and focus on achieving higher operational excellence. The semi-skilled labor shortage is becoming imminent with time, resulting in an increased cost of hiring, training and retaining such employees within the industry. Robots also help businesses to overcome this issue and achieve a higher profit margin during the lifecycle of a project.
Further, the report states that one challenges in market is high system engineering and installation costs. Autonomous software vendors that sell generic software packages or customize specifically for robots and other OEMs providing product and software solutions are an essential part of the industrial robotics supply chain. System engineering, services, and installation are expensive and account for three-fourth of the overall costs. System engineering and related services provide simulation packages that create virtual factories to help manufacturers select a feasible production mode using robots. Simulation enables interfacing of every part and each movement of humans and robots in the manufacturing process.
AETOS, GE Inspection Robotics, Honeybee Robotics, Inuktun Services, Universal Robots, AZoRobotics, Calmation, Cognex, Cross Robotics, ECA Group, Faro, FMC Technologies, Genesis Systems Group, Hydrovision, Inspectorbots, JH Robotics, Lakeview Vision and Robotics, Leo Robotics, NuTec, RNA Automation, SuperDroid Robots, Robotic Automation Systems, Warren Industrial Solutions, and Wauseon Machine and Manufacturing.