Inspection Robots Market by Type, End-users, and Geography - Forecast and Analysis 2020-2024

Inspection Robots Market by Type, End-users, and Geography - Forecast and Analysis 2020-2024

Global Inspection Robots Market: About this market

Technavio’s inspection robots market analysis considers sales from oil and gas, petrochemicals, food and beverages, and other end-users. Our study also finds the sales of inspection robots in APAC, Europe, North America, South America, and MEA. In 2019, the oil and gas segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as rising adoption of advanced inspection technologies such as ultrasonic testing or phased array ultrasonic testing (PAUT) by companies will play a significant role in the oil and gas segment to maintain its market position. Also, our global inspection robots market report looks at factors such as advantages of robotic inspection over manual inspection, rising demand for automated inspection and testing, an increasing number of M&As. However, rising levels of unemployment due to use of robotics, need for significant initial investment, and presence of regulations related to safe use of robotics at workplaces may hamper the growth of the inspection robot industry over the forecast period.

Global Inspection Robots Market: Overview

Advantages of robotic inspection over manual inspection

Inspection robots offer a high level of quality assurance and quality control compared to manual inspection. They help improve productivity by reducing the number of defects and errors. The robotic inspection also helps streamline processes and eliminate repetitive tasks without compromising on accuracy. Inspection robots ensure safety of the working environment as they can be employed in hazardous and unstable conditions that are not safe for humans. Many such advantages offered by inspection robots will lead to the expansion of the global inspection robot market at a CAGR of almost 19% during the forecast period.

Advances in mobile robots

The mobility of robots is the key to the adoption of process automation, which is expected to drive the growth of the global inspection robots market.

The global mobile robots market has witnessed developments in recent years, owing to the flexibility and capabilities of mobile robots. Like humans. smart mobile robots are becoming capable of being aware of what is happening around them on a real-time basis. They are being tested in defense applications, where manufacturers are deploying them as hospital aides for the transfer of the required medications and supplies. This development is expected to have a positive impact on the overall market growth.

For the detailed list of factors that will drive the global inspection robots market during the forecast period 2020-2024, click here.

Competitive Landscape

With the presence of several major players, the global inspection robots market is fragmented. Technavio’s robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading inspection robots manufacturers, that include Cognex Corp., Eddyfi NDT Inc., Ensign-Bickford Industries Inc., FARO Technologies Inc., General Electric Co., Groupe Gorgé, IPG Photonics Corp., MISTRAS Group Inc., TechnipFMC Plc, and Teradyne Inc.

Also, the inspection robots market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.