Enjoy complimentary customisation on priority with our Enterprise License!
The inspection robots market size is expected to increase by USD 5.70 billion, at a CAGR of 19.86% from 2023 to 2028. The market's expansion hinges on several factors, including the superiority of robotic inspection compared to manual methods, the escalating need for automated inspection and testing, and the surging preference for preventive maintenance. Robotic inspection offers numerous advantages over its manual counterpart, including enhanced accuracy, efficiency, and safety. By leveraging robotic technologies, industries can conduct inspections with greater precision and speed, minimizing the risk of human error and ensuring consistent quality standards. Additionally, automated systems enable continuous monitoring and data collection, facilitating proactive identification of potential issues before they escalate into costly problems.
The market report also offers information on several market companies, including Blue Origin Enterprises LP, Cognex Corp., Cross Co., Cyberhawk Innovations, Eddyfi Technologies, FARO Technologies Inc., Flyability SA, GECKO ROBOTICS INC., General Electric Co., Genesis Systems, Groupe Gorge SA, Invert Robotics Group Ltd., IPG Photonics Corp., JH Robotics Inc, Mistras Group Inc., Robotic Automation Systems, SuperDroid Robots Inc., TechnipFMC plc, and Teradyne Inc. among others.
Download Report Sample to Unlock the market Size for the Forecast Period and Other Important Statistics
The Market is witnessing significant advancements with the introduction of innovative solutions like quadruped robot dogs from companies such as ANYbotics, Mitsubishi Electric Corporation, and Superdroid Robotics. These robots, along with offerings from Inuktun Services and LEO Robotics, boast a versatile and safe nature, making them ideal for adoption alongside cobots. They address a complementary need in various industries, particularly in fault detection, failure prevention, and ensuring the quality and transportation of products. Equipped to handle faults, failures, and potential leakage, these robots contribute to enhancing the overall efficiency and reliability of inspection processes, marking a significant advancement in automation technology.
The advantage of robotic inspection over manual inspection is a major factor driving the global market share growth. Semi-autonomous or fully autonomous inspection robots are more beneficial for quality inspection and scanning applications than manual inspection. A robotic inspection enables a higher level of quality assurance and quality control than a manual inspection. The concentration levels of quality inspection workers and staff usually decrease with time due to factors such as the repetitiveness of monotonous tasks; mental exhaustion; and a gradual decline in productivity.
Moreover, the use of inspection robots improves the levels of quality assurance and quality control and, consequently, product quality owing to the reduction of defects and errors. The robotic inspection also streamlines processes, as inspection robots are designed for repetitive tasks without compromising on accuracy. Additionally, it ensures the safety of the working environment, as inspection robots can work in hazardous and unstable conditions, which may not be safe for humans. The use of inspection robots also reduces downtime, maximizes organizational capacity, and decreases the economic impact of inspections. These advantages associated with a robotic inspection will continue to drive the growth of the global inspection robot market.
Integration of IoT and AI to optimize inspection operations is another factor supporting the global market share growth. companies that operate in the global market are working to integrate machine learning and AI with process automation to improve quality levels, minimize process downtime, and maximize the productivity of organizations. The use of AI and IoT in robotic inspection has resulted in the advent of advanced visual inspection, acoustic inspection, and prescriptive repair solutions. AI, combined with IoT, acts as an eye for robots and empowers them to detect defects and issues through visual inspection.
For instance, the integration of AI with IoT is enabling the sensors in inspection robots to detect changes in noise, vibration, or harshness (NVH). This helps provide acoustics insights, which may not be possible without the use of conventional inspection robots. AI-enabled inspection robots may help in predictive failure analysis by providing real-time health data of products or machines. This further leads to opportunities for the adoption of advanced repair guidance systems through prognostics. Therefore, the integration of IoT and AI in robotic inspection is expected to increase the adoption of process automation during the forecast period.
The rising levels of unemployment due to the use of robotics will be a major challenge for the global market share growth during the forecast period. The adoption of new technologies and processes in the manufacturing sector has increased productivity, enabled economies of scale, and resulted in cost-effective manufacturing. The rising use of robots and robotic applications in the manufacturing sector has improved safety and quality and optimized processes. However, the wide use of robotics is creating concerns about unemployment.
Moreover, the use of robotics, in combination with machine learning (ML) and artificial learning (AI), improves manufacturing, transportation, finance, and energy management functions. However, the performance advantages of robots and robotic applications are resulting in the loss of white-collar and blue-collar jobs. The automation of workplaces is expected to cause income inequality and affect the employment skills of people. This is a concern for human skill development and results in loss of livelihood, as robots can replace human jobs. Essentially, the rising level of unemployment due to the use of robotics is expected to hinder the growth of the global market during the forecast period.
The report analyzes the market’s competitive landscape and offers information on several market companies, including:
This statistical study of the market encompasses successful business strategies deployed by the key companies. The market is fragmented and the companies are deploying growth strategies to compete in the market.
This statistical study of the market encompasses successful business strategies deployed by the key companies. The market is fragmented and the companies are deploying growth strategies such as increasing the ease and operability of inspection robots to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market companies should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
For more insights on the market share of various regions Request PDF Sample now!
38% of the market’s growth will originate from Europe during the forecast period. US, China, Germany, Japan, and Canada are the key markets for market in Europe. Market growth in this region will be faster than the growth of the market in regions.
The consistent expansion of industries such as petrochemicals, oil and gas, automotive, and aerospace and defense will facilitate the market growth in Europe over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for companies, which will assist in creating efficient business plans.
To gain further insights on the market contribution of various segments Request a PDF Sample
The market share growth in the oil and gas segment will be significant during the forecast period. The use of mobile automation and fully autonomous inspection technologies in the oil and gas industry has resulted in considerable improvements in the monitoring of key refinery systems and components. This has led to an increase in the overall production efficiency and a decrease in machinery downtime, which are contributing to the revenue generation of the global market in the oil and gas industry.
You may also interested in below market reports:
The Market is witnessing a surge in innovation and adoption, with companies like Cognite, Honeybee Robotics, and Universal Robots leading the charge. These robots, including quadruped robot dogs and collaborative robots, offer versatile and safe solutions for human-robot cooperation in various industries. One of their primary applications lies in product inspection and worker safety, addressing the complementary needs of human workers by utilizing specialized tools and cameras to navigate assets, infrastructure, and environments such as construction sites, confined spaces, and hazardous environments. They provide visual information for maintenance assessment, safety inspections, and data collection, reducing the need for human intervention and ensuring consistency.
However, their integration requires an initial investment, training, and infrastructure modifications, which may lead to increased costs for businesses. Despite this, investments in these non-essential technologies have shown promise, particularly in an era of economic downturns. These robots are equipped with advanced sensors such as lidar, ultrasonic, and thermal imaging, enabling accurate data collection for defect detection, anomaly identification, and predictive maintenance, ultimately enhancing inspection efficiency and reliability. Customization options include Mobile Service Robots and Vision Sensors, catering to critical scenarios in unmanned facilities, remote locations, and harsh environments. Challenges include safety concerns, lack of standardization, and specialized training requirements, but the benefits in terms of cost-efficiency and operational effectiveness make them a valuable asset across industries, including the pharmaceutical segment.
Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2023 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 19.86% |
Market growth 2024-2028 |
USD 5.7 billion |
Market structure |
Fragmented |
YoY growth (%) |
16.06 |
Regional analysis |
Europe, North America, APAC, South America, and Middle East and Africa |
Performing market contribution |
Europe at 38% |
Key consumer countries |
US, China, Germany, Japan, and Canada |
Competitive landscape |
Leading companies, Competitive Strategies, Consumer engagement scope |
Key companies profiled |
Blue Origin Enterprises LP, Cognex Corp., Cross Co., Cyberhawk Innovations, Eddyfi Technologies, FARO Technologies Inc., Flyability SA, GECKO ROBOTICS INC., General Electric Co., Genesis Systems, Groupe Gorge SA, Invert Robotics Group Ltd., IPG Photonics Corp., JH Robotics Inc, Mistras Group Inc., Robotic Automation Systems, SuperDroid Robots Inc., TechnipFMC plc, and Teradyne Inc. |
Market dynamics |
Parent market analysis, market trends and analysis, market growth analysis, market research and growth, market growth and forecasting, Market forecasting, market growth and trends, market analysis and report, market analysis and report, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
Get lifetime access to our
Technavio Insights
Quick Report Overview:
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.