Redding, California, June 21, 2023 (GLOBE NEWSWIRE) -- Meticulous Research® - a leading global market research company, published a research 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”. According to this research report, the global inspection robot 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, 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.
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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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