The Global Inspection Robots Market size is expected to reach $4.2 billion by 2028, rising at a market growth of 29.0% CAGR during the forecast period.
Mobile service robots with cutting-edge vision sensors, known as inspection robots, are frequently utilized to assess vital and expensive infrastructure. Robots used for inspection are either fully autonomous, capable of navigating themselves, or semi-autonomous, where they have been taught certain pathways. Robotic inspections are more thorough than manual ones, especially in hazardous environments, and since they can work continuously for extended periods, they are more accurate.
The requirement for robotic inspection of substantial, highly valuable infrastructure in the oil, gas, and petrochemical industries is the main driver of this rise. The market expansion of inspection robots is also influenced by their constantly improving capabilities and businesses' ability to quickly realize a return on investment (ROI). Items are measured by robots as well.
According to Edward Roney, Development Manager of Intelligent Robotics at FANUC Robotics America Inc., Rochester Hills, Michigan, "Inspection systems are measuring parts but as tolerances of the measurements get increasingly tighter, these tolerances become tougher to fulfill." Lighting and how parts are presented to the robot are more important. Integrators are making the inspection system more complex by switching from confirming a part's presence to measuring it.
Roney cites the robotic inspection process where a vision system checks to see if a nut or bolt is in the right place or if a hole has been properly tapped. Robotics are frequently used to inspect certain aspects, according to Roney. According to Adil Shafi, President of SHAFI Inc., Brighton, Michigan, "SHAFI provides three-dimensional robotic metrology that involves dimensional tolerance testing.
End-users do not need to send a sample of parts to a laboratory to have their measurements checked due to the robot's inspection system, which also serves as a coordinate measuring machine. Shafi continues by saying that robotic inspection makes sure that end-users are given accurate information when gathering data on their components.
The economies around the world have been adversely impacted by a huge decline in product demand. The pandemic has led to a shortage of essential commodities, primarily as a result of a decline in exports and supply chain disruptions. During its outbreak, COVID-19 affected the manufacturing, lodging, and transportation sectors. Activities related to manufacturing were halted or limited. The worldwide supply chain for building and shipping was constrained. This decreased the production of inspection robots and their market demand, which in turn restrained the growth of the inspection robot market.
For quality inspection and scanning applications, semi-autonomous or completely autonomous inspection robots are preferable to manual inspection. In comparison to manual inspection, robotic inspection allows a better level of quality assurance and quality control. Due to variables like the tedious repetition of activities, mental fatigue, and a steady loss in productivity, quality inspection personnel' and staff's concentration levels typically diminish with time. Due to the decrease in flaws and errors, the employment of inspection robots raises the standards of quality assurance and quality control and, as a result, the quality of the final product.
The leading companies in the inspection robots market is focusing on the expanding adoption of cutting-edge technologies in the machinery sector to increase the usage of robotic paints and use human labor for industrial processes as little as possible. Today's fiercer competition between major organizations enables them to build their businesses and increase their market share. Quality may be improved, waste and VOCs can be reduced, and production can be increased overall using equipment intended to offer precise mixing and spraying.
Given the current stage of industrial development, integrating robot arms and other gear is a difficult task. The end user would require a certified system integrator if they lacked the required engineering expertise. Accuracy and cycle time would be given top priority while evaluating the viability of automation requirements. In order to evaluate production capacity and determine the return on investment, the predicted production cycle can be employed, and sufficient accuracy can ensure that each stage is completed appropriately (ROI).
On the basis of Robot Type, the Inspection Robots Market is divided into Stationary robotic arm and Mobile robots. The mobile robots segment acquired the highest revenue share in the inspection robots market in 2021. A robotic device that can move about is referred to as a mobile robot. Robotics and information engineering both include mobile robotics as a branch. Robots that can move around in their environment and are not confined to a single physical area are called mobile robots.
Based on the Testing Type, the Inspection Robots Market is segmented into Automated metrology and Non-destructive inspection. The automated metrology segment recorded a substantial revenue share in the inspection robots market in 2021. It is because the user can contain, rectify, verify, and control manufacturing quality instantly, 100% of the time, at entire production speed, without handling the part, due to an automated metrology system. Complex, high-volume manufacturing procedures are subject to sudden, unforeseen changes.
By Application, the Inspection Robots Market is classified into Oil & gas, Food & beverage, Pharmaceutical, Electronics, and Others. The oil & gas segment garnered the highest revenue share in the inspection robots market in 2021. In the oil and gas business, an inspection of crucial parts such as pipes, columns, reactors, pressure vessels, and tank boilers is crucial. Monitoring the status of important components has significantly improved as a result of the use of inspection robots in the oil and gas sector.
| Report Attribute | Details |
|---|---|
| Market size value in 2021 | USD 757.6 Million |
| Market size forecast in 2028 | USD 4.2 Billion |
| Base Year | 2021 |
| Historical Period | 2018 to 2020 |
| Forecast Period | 2022 to 2028 |
| Revenue Growth Rate | CAGR of 29% from 2022 to 2028 |
| Number of Pages | 199 |
| Number of Tables | 350 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Companies Strategic Developments, Company Profiling |
| Segments covered | Robot Type, Testing Type, Application, Region |
| Country scope | US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria |
| Growth Drivers |
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| Restraints |
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Region-wise, the Inspection Robots Market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The North America region acquired the largest revenue share in the inspection robots market in 2021. It is due to the widespread usage of inspection robots in end-use industries including the oil and gas, petrochemical, and utility industries is one of the key drivers boosting demand for them in the region. The oil and gas industry's anticipated recovery shortly will also have an impact on the region's demand for inspection robots.
Free Valuable Insights: Global Inspection Robots Market size to reach USD 4.2 Billion by 2028
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Teradyne, Inc. (Universal Robots A/S), ABB Group, Mitsubishi Electric Corporation, Eddyfi Technologies, Gecko Robotics, Inc., Genesis Systems (IPG Photonics Corporation), Honeybee Robotics (Ensign-Bickford Industries, Inc.), Invert Robotics Group Limited, JH Robotics, Inc., and Baker Hughes Company (Waygate Technologies).
By Robot Type
By Testing Type
By Application
By Geography
The Inspection Robots Market size is projected to reach USD 4.2 billion by 2028.
Robotic Inspection Advantages Over Manual Inspection are driving the market in coming years, however, Initiation Costs For The Machines Are High restraints the growth of the market.
Teradyne, Inc. (Universal Robots A/S), ABB Group, Mitsubishi Electric Corporation, Eddyfi Technologies, Gecko Robotics, Inc., Genesis Systems (IPG Photonics Corporation), Honeybee Robotics (Ensign-Bickford Industries, Inc.), Invert Robotics Group Limited, JH Robotics, Inc., and Baker Hughes Company (Waygate Technologies).
The expected CAGR of the Inspection Robots Market is 29.0% from 2022 to 2028.
The Non-destructive Inspection segment acquired maximum revenue share in the Global Inspection Robots Market by Testing Type in 2021 thereby, achieving a market value of $2.7 billion by 2028.
The North America market dominated the Global Inspection Robots Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $1.6 billion by 2028.
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