Meticulous Research®, a prominent global market research firm, released a report titled, ‘Inspection Robots Market by Type (Stationary, Mobile), Application (Visual, Ultrasonic, Photogrammetry, Laser Scanning, Thermal, Quality Inspection), End User (End Use Industry, Inspection Services) and Geography—Global Forecast to 2030.’
The global inspection robots’ market is forecasted to reach $4.6 billion by 2030, growing at a compound annual growth rate (CAGR) of 21.6% from 2023 to 2030. In terms of volume, the market is expected to reach 203 thousand units by 2030, with a CAGR of 22.7% from 2023 to 2030. This market growth is driven by the increasing need to evaluate the structural integrity of aging infrastructure and assets, the rising demand for standardized quality products, and the escalating labor costs for inspection tasks. Additionally, the growing utilization of robots for inspections in the insurance sector and their adoption by maintenance, repair, and overhaul (MRO) services are anticipated to offer substantial opportunities for market expansion. However, challenges such as the complexities involved in integrating inspection robots into hazardous environments, along with high initial and maintenance costs, are restraining market growth.
The global inspection robots’ market is categorized by type, application, end user, and geography. The report also assesses industry competitors and examines the markets at both regional and country levels.
Key Players
The global inspection robots market study profiles key players such as 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 anticipated to hold the largest share of the market. This significant market share is due to the increasing need to meet specified quality standards, the high efficiency and reduced downtimes offered by stationary robots, enhanced occupational safety, and advanced data analysis capabilities.
Based on application, the global inspection robots’ market is segmented by applications 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 hold the largest market share. This is because visual inspection is a widely used method for assessing various qualities such as the presence of fractures, dimension measurement, and coating uniformity. Visual inspection involves the visual examination of surfaces, products, and infrastructure using smart cameras mounted on robots. Factors contributing to this segment's large share include the need to reduce human intervention in hazardous and critical environments, efforts to introduce robotic inspection systems to the market, and the growing demand to enhance the production quality and reliability of electronic components.
Based on end user, the global inspection robots’ market is segmented into industry and inspection services. In 2023, the industry segment is projected to hold the largest market share. This dominance is due to the rising demand for visual inspection, the increased need for high-quality standard products, the adoption of robots for quality inspection, and the necessity to align with dynamic production processes in manufacturing industries. Additionally, robots help reduce inspection times and streamline workflows. The industry segment is further divided into automotive, semiconductor & electronics, food and beverage, aerospace and defense, machinery & metal, pharmaceutical, BFSI, and other sectors.
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 anticipated to hold the largest market share. This significant share is attributed to the increasing demand for high-quality products, rising labor costs, stringent manufacturing deadlines, growing adoption of automation and advanced technologies, and supportive initiatives by market players.
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Key Questions Answered in the Report:
- What are the high-growth market segments based on type, application, end user, and geography?
- What is the past market size of inspection robots worldwide?
- What are the projected market forecasts and estimates for the timeframe between 2023 and 2030?
- What are the primary factors fueling growth, potential opportunities, and key obstacles in the global inspection robot market?
- Which companies are the key players in the market, and what are their respective market shares?
- What is the competitive scenario like in the global inspection robot’s market?
- What are the latest advancements or updates in the global inspection robot market?
- What are the various approaches employed by the leading players in the market?
- What are the significant geographical patterns, and which countries are experiencing notable growth in the market?
- Who are the emerging local players in the global inspection robots market, and what strategies do they employ to compete with established players?
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