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Inspection Robots Market by Type, End-user, and Geography - Forecast and Analysis 2022-2026

  • Published: Aug 2022
  • Pages: 155
  • SKU: IRTNTR40023
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The inspection robots market share is expected to increase by USD 5.27 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 18.88%.

This inspection robots market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers inspection robots market segmentation by end-user (oil and gas, petrochemicals, food and beverages, and others), type (ROVs and autonomous robots), and geography (Europe, APAC, North America, MEA, and South America). The inspection robots market report also offers information on several market vendors, including Blue Origin Enterprises LP, Cognex Corp., Cross Co., Cyberhawk Innovations Ltd, Eddyfi NDT Inc., 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.

What will the Inspection Robots Market Size be During the Forecast Period?

Inspection Robots Market Size

Download Report Sample to Unlock the Inspection Robots Market Size for the Forecast Period and Other Important Statistics

 

Inspection Robots Market: Key Drivers, Trends, and Challenges

The advantages of robotic inspection over manual inspection are notably driving the inspection robots market growth, although factors such as rising levels of unemployment due to the use of robotics may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic's impact on the inspection robots industry. The holistic analysis of the drivers will help deduce end goals and refine marketing strategies to gain a competitive edge.

Key Inspection Robots Market Driver

The advantage of robotic inspection over manual inspection is a major factor driving the global inspection robots 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. 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.

Key Inspection Robots Market Trend

Integration of IoT and AI to optimize inspection operations is another factor supporting the global inspection robots market share growth. Vendors that operate in the global inspection robots 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.

Key Inspection Robots Market Challenge

The rising levels of unemployment due to the use of robotics will be a major challenge for the global inspection robots 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. 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 inspection robots market.

This inspection robots market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the global inspection robots market as part of the global industrial machinery market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the inspection robots market during the forecast period.

Who are the Major Inspection Robots Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • Blue Origin Enterprises LP
  • Cognex Corp.
  • Cross Co.
  • Cyberhawk Innovations Ltd
  • Eddyfi NDT Inc.
  • 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
  • Teradyne Inc.

 

This statistical study of the inspection robots market encompasses successful business strategies deployed by the key vendors. The inspection robots market is fragmented and the vendors are deploying growth strategies such as increasing the ease and operability of inspection robots to compete in the market.

Product Insights and News

  • Cognex Corp.- The company offers robot-guided valve inspection to verify the proper placement of valve bridges during assembly.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The inspection robots 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.

Inspection Robots Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the inspection robots market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

Which are the Key Regions for Inspection Robots Market?

Inspection Robots Market Share by Geography

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38% of the market's growth will originate from Europe during the forecast period. Germany and UK are the key markets for inspection robots market in Europe. Market growth in this region will be faster than the growth of the market in other regions.

The consistent expansion of industries such as petrochemicals, oil and gas, automotive, and aerospace and defense will facilitate the inspection robots 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 vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

The outbreak of COVID-19 in 2020 adversely affected the regional economy as it impacted the growth of various industries, such as the automotive, and agriculture industries in Europe. The shutdown of various plants and factories in 2020 led to disruptions in the supply chain and logistics of the market in focus in France, Germany, and others for several months. During the last quarter of 2020, the lockdowns were lifted in most parts of the region. It led to the resumption of operations in the manufacturing units under various safety norms issued by the government to mitigate the risk of COVID-19. Therefore, the market is expected to recover from the downfall and grow steadily during the forecast period.

What are the Revenue-generating Type Segments in the Inspection Robots Market?

Inspection Robots Market Share

To gain further insights on the market contribution of various segments Request a PDF Sample

The inspection robots 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 inspection robots market in the oil and gas industry.

This report provides an accurate prediction of the contribution of all the segments to the growth of the inspection robots market size and actionable market insights on the post-COVID-19 impact on each segment.

 

Inspection Robots Market Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 18.88%

Market growth 2022-2026

$ 5.27 billion

Market structure

Fragmented

YoY growth (%)

16.99

Regional analysis

Europe, North America, APAC, South America, and the Middle East and Africa

Performing market contribution

Europe at 38%

Key consumer countries

US, Canada, China, Japan, and Germany

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

Blue Origin Enterprises LP, Cognex Corp., Cross Co., Cyberhawk Innovations Ltd, Eddyfi NDT Inc., 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 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

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What are the Key Data Covered in this Inspection Robots Market Report?

  • CAGR of the market during the forecast period 2022-2026
  • Detailed information on factors that will drive inspection robots market growth during the next five years
  • Precise estimation of the inspection robots market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the inspection robots industry across Europe, North America, APAC, South America, and the Middle East, and Africa
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of inspection robots market vendors

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1 Executive Summary

  • 1.1 Market Overview
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Global Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market by Geography
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by Type
    • Exhibit 06: Executive Summary – Chart on Market Segmentation by End-user
    • Exhibit 07: Executive Summary – Chart on Incremental Growth
    • Exhibit 08: Executive Summary – Data Table on Incremental Growth
    • Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 10: Parent market
    • Exhibit 11: Market Characteristics

3 Market Sizing

  • 3.1 Market Definition
    • Exhibit 12: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 13: Market segments
  • 3.3 Market size 2021
    • 3.4 Market outlook: Forecast for 2021-2026
      • Exhibit 14: Chart on Global - Market size and forecast 2021-2026 ($ million)
      • Exhibit 15: Data Table on Global - Market size and forecast 2021-2026 ($ million)
      • Exhibit 16: Chart on Global Market: Year-over-year growth 2021-2026 (%)
      • Exhibit 17: Data Table on Global Market: Year-over-year growth 2021-2026 (%)

    4 Five Forces Analysis

    • 4.1 Five forces summary
      • Exhibit 18: Five forces analysis - Comparison between 2021 and 2026
    • 4.2 Bargaining power of buyers
      • Exhibit 19: Chart on the Bargaining power of buyers – Impact of key factors 2021 and 2026
    • 4.3 Bargaining power of suppliers
      • Exhibit 20: Bargaining power of suppliers – Impact of key factors in 2021 and 2026
    • 4.4 Threat of new entrants
      • Exhibit 21: Threat of new entrants – Impact of key factors in 2021 and 2026
    • 4.5 Threat of substitutes
      • Exhibit 22: Threat of substitutes – Impact of key factors in 2021 and 2026
    • 4.6 Threat of rivalry
      • Exhibit 23: Threat of rivalry – Impact of key factors in 2021 and 2026
    • 4.7 Market condition
      • Exhibit 24: Chart on Market condition - Five forces 2021 and 2026

    5 Market Segmentation by Type

    • 5.1 Market segments
      • Exhibit 25: Chart on Type - Market share 2021-2026 (%)
      • Exhibit 26: Data Table on Type - Market share 2021-2026 (%)
    • 5.2 Comparison by Type
      • Exhibit 27: Chart on Comparison by Type
      • Exhibit 28: Data Table on Comparison by Type
    • 5.3 ROVs - Market size and forecast 2021-2026
      • Exhibit 29: Chart on ROVs - Market size and forecast 2021-2026 ($ million)
      • Exhibit 30: Data Table on ROVs - Market size and forecast 2021-2026 ($ million)
      • Exhibit 31: Chart on ROVs - Year-over-year growth 2021-2026 (%)
      • Exhibit 32: Data Table on ROVs - Year-over-year growth 2021-2026 (%)
    • 5.4 Autonomous robots - Market size and forecast 2021-2026
      • Exhibit 33: Chart on Autonomous robots - Market size and forecast 2021-2026 ($ million)
      • Exhibit 34: Data Table on Autonomous robots - Market size and forecast 2021-2026 ($ million)
      • Exhibit 35: Chart on Autonomous robots - Year-over-year growth 2021-2026 (%)
      • Exhibit 36: Data Table on Autonomous robots - Year-over-year growth 2021-2026 (%)
    • 5.5 Market opportunity by Type
      • Exhibit 37: Market opportunity by Type ($ million)

    6 Market Segmentation by End-user

    • 6.1 Market segments
      • Exhibit 38: Chart on End-user - Market share 2021-2026 (%)
      • Exhibit 39: Data Table on End-user - Market share 2021-2026 (%)
    • 6.2 Comparison by End-user
      • Exhibit 40: Chart on Comparison by End-user
      • Exhibit 41: Data Table on Comparison by End-user
    • 6.3 Oil and gas - Market size and forecast 2021-2026
      • Exhibit 42: Chart on Oil and gas - Market size and forecast 2021-2026 ($ million)
      • Exhibit 43: Data Table on Oil and gas - Market size and forecast 2021-2026 ($ million)
      • Exhibit 44: Chart on Oil and gas - Year-over-year growth 2021-2026 (%)
      • Exhibit 45: Data Table on Oil and gas - Year-over-year growth 2021-2026 (%)
    • 6.4 Petrochemicals - Market size and forecast 2021-2026
      • Exhibit 46: Chart on Petrochemicals - Market size and forecast 2021-2026 ($ million)
      • Exhibit 47: Data Table on Petrochemicals - Market size and forecast 2021-2026 ($ million)
      • Exhibit 48: Chart on Petrochemicals - Year-over-year growth 2021-2026 (%)
      • Exhibit 49: Data Table on Petrochemicals - Year-over-year growth 2021-2026 (%)
    • 6.5 Food and beverages - Market size and forecast 2021-2026
      • Exhibit 50: Chart on Food and beverages - Market size and forecast 2021-2026 ($ million)
      • Exhibit 51: Data Table on Food and beverages - Market size and forecast 2021-2026 ($ million)
      • Exhibit 52: Chart on Food and beverages - Year-over-year growth 2021-2026 (%)
      • Exhibit 53: Data Table on Food and beverages - Year-over-year growth 2021-2026 (%)
    • 6.6 Others - Market size and forecast 2021-2026
      • Exhibit 54: Chart on Others - Market size and forecast 2021-2026 ($ million)
      • Exhibit 55: Data Table on Others - Market size and forecast 2021-2026 ($ million)
      • Exhibit 56: Chart on Others - Year-over-year growth 2021-2026 (%)
      • Exhibit 57: Data Table on Others - Year-over-year growth 2021-2026 (%)
    • 6.7 Market opportunity by End-user
      • Exhibit 58: Market opportunity by End-user ($ million)

    7 Customer Landscape

    • 7.1 Customer landscape overview
      • Exhibit 59: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

    8 Geographic Landscape

    • 8.1 Geographic segmentation
      • Exhibit 60: Chart of Market share by geography 2021-2026 (%)
      • Exhibit 61: Data Table on Market share by geography 2021-2026 (%)
    • 8.2 Geographic comparison
      • Exhibit 62: Chart of Geographic comparison
      • Exhibit 63: Data Table on Geographic comparison
    • 8.3 Europe - Market size and forecast 2021-2026
      • Exhibit 64: Chart on Europe - Market size and forecast 2021-2026 ($ million)
      • Exhibit 65: Data Table on Europe - Market size and forecast 2021-2026 ($ million)
      • Exhibit 66: Chart on Europe - Year-over-year growth 2021-2026 (%)
      • Exhibit 67: Data Table on Europe - Year-over-year growth 2021-2026 (%)
    • 8.4 North America - Market size and forecast 2021-2026
      • Exhibit 68: Chart on North America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 69: Data Table on North America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 70: Chart on North America - Year-over-year growth 2021-2026 (%)
      • Exhibit 71: Data Table on North America - Year-over-year growth 2021-2026 (%)
    • 8.5 APAC - Market size and forecast 2021-2026
      • Exhibit 72: Chart on APAC - Market size and forecast 2021-2026 ($ million)
      • Exhibit 73: Data Table on APAC - Market size and forecast 2021-2026 ($ million)
      • Exhibit 74: Chart on APAC - Year-over-year growth 2021-2026 (%)
      • Exhibit 75: Data Table on APAC - Year-over-year growth 2021-2026 (%)
    • 8.6 South America - Market size and forecast 2021-2026
      • Exhibit 76: Chart on South America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 77: Data Table on South America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 78: Chart on South America - Year-over-year growth 2021-2026 (%)
      • Exhibit 79: Data Table on South America - Year-over-year growth 2021-2026 (%)
    • 8.7 Middle East and Africa - Market size and forecast 2021-2026
      • Exhibit 80: Chart on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
      • Exhibit 81: Data Table on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
      • Exhibit 82: Chart on Middle East and Africa - Year-over-year growth 2021-2026 (%)
      • Exhibit 83: Data Table on Middle East and Africa - Year-over-year growth 2021-2026 (%)
    • 8.8 US - Market size and forecast 2021-2026
      • Exhibit 84: Chart on US - Market size and forecast 2021-2026 ($ million)
      • Exhibit 85: Data Table on US - Market size and forecast 2021-2026 ($ million)
      • Exhibit 86: Chart on US - Year-over-year growth 2021-2026 (%)
      • Exhibit 87: Data Table on US - Year-over-year growth 2021-2026 (%)
    • 8.9 China - Market size and forecast 2021-2026
      • Exhibit 88: Chart on China - Market size and forecast 2021-2026 ($ million)
      • Exhibit 89: Data Table on China - Market size and forecast 2021-2026 ($ million)
      • Exhibit 90: Chart on China - Year-over-year growth 2021-2026 (%)
      • Exhibit 91: Data Table on China - Year-over-year growth 2021-2026 (%)
    • 8.10 Germany - Market size and forecast 2021-2026
      • Exhibit 92: Chart on Germany - Market size and forecast 2021-2026 ($ million)
      • Exhibit 93: Data Table on Germany - Market size and forecast 2021-2026 ($ million)
      • Exhibit 94: Chart on Germany - Year-over-year growth 2021-2026 (%)
      • Exhibit 95: Data Table on Germany - Year-over-year growth 2021-2026 (%)
    • 8.11 Japan - Market size and forecast 2021-2026
      • Exhibit 96: Chart on Japan - Market size and forecast 2021-2026 ($ million)
      • Exhibit 97: Data Table on Japan - Market size and forecast 2021-2026 ($ million)
      • Exhibit 98: Chart on Japan - Year-over-year growth 2021-2026 (%)
      • Exhibit 99: Data Table on Japan - Year-over-year growth 2021-2026 (%)
    • 8.12 Canada - Market size and forecast 2021-2026
      • Exhibit 100: Chart on Canada - Market size and forecast 2021-2026 ($ million)
      • Exhibit 101: Data Table on Canada - Market size and forecast 2021-2026 ($ million)
      • Exhibit 102: Chart on Canada - Year-over-year growth 2021-2026 (%)
      • Exhibit 103: Data Table on Canada - Year-over-year growth 2021-2026 (%)
    • 8.13 Market opportunity by geography
      • Exhibit 104: Market opportunity by geography ($ million)

    9 Drivers, Challenges, and Trends

    • 9.1 Market drivers
      • 9.2 Market challenges
        • 9.3 Impact of drivers and challenges
          • Exhibit 105: Impact of drivers and challenges in 2021 and 2026
        • 9.4 Market trends

          10 Vendor Landscape

          • 10.1 Overview
            • 10.2 Vendor landscape
              • Exhibit 106: Overview on Criticality of inputs and Factors of differentiation
            • 10.3 Landscape disruption
              • Exhibit 107: Overview on factors of disruption
            • 10.4 Industry risks
              • Exhibit 108: Impact of key risks on business

            11 Vendor Analysis

            • 11.1 Vendors covered
              • Exhibit 109: Vendors covered
            • 11.2 Market positioning of vendors
              • Exhibit 110: Matrix on vendor position and classification
            • 11.3 Blue Origin Enterprises LP
              • Exhibit 111: Blue Origin Enterprises LP - Overview
              • Exhibit 112: Blue Origin Enterprises LP - Product / Service
              • Exhibit 113: Blue Origin Enterprises LP - Key offerings
            • 11.4 Cognex Corp.
              • Exhibit 114: Cognex Corp. - Overview
              • Exhibit 115: Cognex Corp. - Product / Service
              • Exhibit 116: Cognex Corp. - Key offerings
            • 11.5 Cross Co.
              • Exhibit 117: Cross Co. - Overview
              • Exhibit 118: Cross Co. - Product / Service
              • Exhibit 119: Cross Co. - Key offerings
            • 11.6 Eddyfi NDT Inc.
              • Exhibit 120: Eddyfi NDT Inc. - Overview
              • Exhibit 121: Eddyfi NDT Inc. - Product / Service
              • Exhibit 122: Eddyfi NDT Inc. - Key offerings
            • 11.7 General Electric Co
              • Exhibit 123: General Electric Co - Overview
              • Exhibit 124: General Electric Co - Business segments
              • Exhibit 125: General Electric Co - Key news
              • Exhibit 126: General Electric Co - Key offerings
              • Exhibit 127: General Electric Co - Segment focus
            • 11.8 Groupe Gorge SA
              • Exhibit 128: Groupe Gorge SA - Overview
              • Exhibit 129: Groupe Gorge SA - Business segments
              • Exhibit 130: Groupe Gorge SA - Key news
              • Exhibit 131: Groupe Gorge SA - Key offerings
              • Exhibit 132: Groupe Gorge SA - Segment focus
            • 11.9 IPG Photonics Corp.
              • Exhibit 133: IPG Photonics Corp. - Overview
              • Exhibit 134: IPG Photonics Corp. - Product / Service
              • Exhibit 135: IPG Photonics Corp. - Key offerings
            • 11.10 Mistras Group Inc.
              • Exhibit 136: Mistras Group Inc. - Overview
              • Exhibit 137: Mistras Group Inc. - Business segments
              • Exhibit 138: Mistras Group Inc. - Key offerings
              • Exhibit 139: Mistras Group Inc. - Segment focus
            • 11.11 TechnipFMC plc
              • Exhibit 140: TechnipFMC plc - Overview
              • Exhibit 141: TechnipFMC plc - Business segments
              • Exhibit 142: TechnipFMC plc - Key offerings
              • Exhibit 143: TechnipFMC plc - Segment focus
            • 11.12 Teradyne Inc.
              • Exhibit 144: Teradyne Inc. - Overview
              • Exhibit 145: Teradyne Inc. - Business segments
              • Exhibit 146: Teradyne Inc. - Key news
              • Exhibit 147: Teradyne Inc. - Key offerings
              • Exhibit 148: Teradyne Inc. - Segment focus

            12 Appendix

            • 12.1 Scope of the report
              • 12.2 Inclusions and exclusions checklist
                • Exhibit 149: Inclusions checklist
                • Exhibit 150: Exclusions checklist
              • 12.3 Currency conversion rates for US$
                • Exhibit 151: Currency conversion rates for US$
              • 12.4 Research methodology
                • Exhibit 152: Research methodology
                • Exhibit 153: Validation techniques employed for market sizing
                • Exhibit 154: Information sources
              • 12.5 List of abbreviations
                • Exhibit 155: List of abbreviations
              • in manufacturing industry: Market dynamics in some major processes and discrete industries are changing drastically, and manufacturers are gradually feeling the brunt of excessive demand fluctuations. The fluctuating prices of oil and gas and metals in the global market and the shortage of a skilled workforce worldwide have directly affected the profitability of manufacturing companies. A sudden and unexpected shift in market dynamics can drastically impact manufacturing processes and investments in capital goods.
                • slowdown in the automotive industry: High motorization rates in North America and Europe, the increase in tariffs on imported vehicles in the US and China, and the global economic slowdown are likely to reduce vehicle sales in the coming years. Anticipating a decline in vehicle sales, several vehicle manufacturers are halting their vehicle production. For instance, in March 2019, Ford announced the shutdown of its three vehicle-manufacturing sites in Russia. Similarly, in August 2019, Mahindra and Mahindra Ltd. stopped vehicle production at its manufacturing units in India for 8-14 days. During the same month, Maruti Suzuki announced that it had cut its vehicle production for the sixth consecutive month in 2019. In August 2019, Honda announced a halt in car production at its Argentina-based manufacturing plants. Such a slowdown in the automotive industry is expected to hamper the growth of the market during the forecast period.

                  Research Framework

                  Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

                  TechnavioINFORMATION SOURCES

                  Primary sources

                  • Manufacturers and suppliers
                  • Channel partners
                  • Industry experts
                  • Strategic decision makers

                  Secondary sources

                  • Industry journals and periodicals
                  • Government data
                  • Financial reports of key industry players
                  • Historical data
                  • Press releases
                  Technavio

                  TechnavioDATA ANALYSIS

                  Data Synthesis

                  • Collation of data
                  • Estimation of key figures
                  • Analysis of derived insights

                  Data Validation

                  • Triangulation with data models
                  • Reference against proprietary databases
                  • Corroboration with industry experts
                  Technavio

                  TechnavioREPORT WRITING

                  Qualitative

                  • Market drivers
                  • Market challenges
                  • Market trends
                  • Five forces analysis

                  Quantitative

                  • Market size and forecast
                  • Market segmentation
                  • Geographical insights
                  • Competitive landscape
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                  Inspection Robots market growth will increase by $5278.97 million during 2022-2026.
                  The inspection robots market is expected to grow at a CAGR of 18.88% during 2022-2026.
                  Technavio has segmented the inspection robots market by type (oil and gas, petrochemicals, food and beverages, and others) ,end-user (ROVs and autonomous robots) , and geographic (Europe, North America, APAC, South America, and Middle East and Africa).
                  Blue Origin Enterprises LP, Cognex Corp., Cross Co., Cyberhawk Innovations Ltd, Eddyfi NDT Inc., 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, Teradyne Inc. are a few of the key vendors in the inspection robots market.
                  Europe will register the highest growth rate of 38.15% among the other regions. Therefore, the inspection robots market in Europe is expected to garner significant business opportunities for the vendors during the forecast period.
                  The key factors driving the inspection robots market growth are:
                  • Advantages of robotic inspection over manual inspection
                  • Advancements in robotic inspection
                  The inspection robots market vendors should focus on grabbing business opportunities from the oil and gas segment as it accounted for the largest market share in the base year.
                  • What are the key global market and the regional market share?
                  • What are the revenue-generating key market segments?
                  • What are the key factors driving and challenging this market’s growth?
                  • Who are the key market vendors and their growth strategies?
                  • What are the latest trends influencing the growth of this market?
                  • What are the variables influencing the market growth in the primary regions?
                  • What are the factors influencing the growth of the parent market?
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