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Inspection Robots Market - Global Opportunity Analysis and Industry Forecast, 2020-2027

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Feb 2021 | 152 Views
 
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COVID-19

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Inspection is very important part of operational processes for any industry. Inspection of equipment or machinery must be conducted so that maintenance work can be done if required. It helps in reliable and smooth performance of machines. Robots have been used in many companies to carry out the inspection process. With the help of robots, inspection process has become more effective and more efficient. Many companies are developing inspection robots, which are equipped with modern technologies. 

Market scope and structure

Report Metric

Details

  Market size available for years

  2019–2027

  Base year considered

  2019

  Forecast period

  2020–2027

  Forecast units

  Value (USD)

  Segments covered

 Product type, operation, Application, End use industryand Region

  Companies covered

Major players analyzed includeGE Inspection Robotics, Honeybee Robotics, AETOS, Inuktun Services, Universal Robots, AZoRobotics, Calmation, Cognex, ECA Group, FMC Technologies
Genesis Systems Group

 

Regions covered

North America

Europe

Asia-Pacific

LAMEA

U.S., Canada and Mexico

Germany, France, UK, Italy, Spain and the Rest of Europe

China, Japan, India, South Korea and the Rest of Asia Pacific

Latin America, Middle East and Africa

COVID-19 scenario analysis:

  • The demand for inspection robots is expected to decrease in the year 2020, owing to low demand from different industries due to lockdown imposed by government of many countries.
  • COVID-19 pandemic has shut-down production of various products in the inspection robotsindustry, mainly owing to prolonged lockdown in major global countries. This has hampered growth of the inspection robotsmarket significantly from last few months, as is likely to continue during 2020.
  • COVID-19 has already affected sales of equipment and machinery in the first quarter of 2020 and is expected to cause a negative impact on the market growth throughout the year.
  • The major demand for equipment and machinery was previously noticed from giant manufacturing countries including the U.S., Germany, Italy, the UK, and China, which is badly affected by the spread of corona virus, thereby halting demand for equipment and machinery.
  • Further, potential impact of the lockdown is currently vague and financial recovery of companies is totally based on its cash reserves. Equipment and machinery companies can afford a full lockdown only for a few months, after which the players would have to modify their investment plans.
  • Equipment and machinery manufacturers must focus on protecting their workforce, operations, and supply chains to respond toward immediate crises and find new ways of working after COVID-19 infection cases start to decrease.

Top impacting factors:

Robotic systems have been employed in many companies across the globe. Inspection robotic system is not different than the mobile service robots. These robots are designed so as to inspect the critical and high value infrastructure. Inspection robot is capable of performing different tasks such as data collection, study the working processes and measure the efficiency, detection of defects present in the machines and inspection of the overall system. Different types of inspection robots are being used by the companies. The type of inspection robots includes semi autonomous inspection robots and fully autonomous inspection robots.

Fully autonomous inspection robots are designed in such a way that they are capable of navigating themselves and semi autonomous inspection robots needs an established path for its working. Inspection done by the inspection robots is much more effective than the manual inspection and also provides accurate results to the company. Inspection robots are capable of working for longer period of time without any kind of halt. This is one of the advantages which are offered by the inspection robots. In dangerous and hazardous working environment, the inspection robots are proved to be very effective as these conditions are not safe to perform the inspection processes manually.

In many inspection robots, new and more advanced technologies such as artificial intelligence technology and machine learning. There is one system known as deep learning which is used in the inspection robots. This system is capable of performing advanced tasks such as it can identify which equipment is damaged and which is not damaged from the two equipments placed in front of that system.

New product launch to flourish the market:

Many companies in inspection robots market are developing and introducing new products to the market. These new products are technologically more advanced than the previous range of their products. These new products are more efficient and effective in their performance and are widely used in the industry.

In April 2018, Creaform has launched new generation of the dimension inspection solution named as CUBE-R. In this system, MetraSCAN 3D-R metrology scanner has been used which can inspect the dimensional measurement of the parts which are in the size range of 1 m to 3 m. Many companies are using this system for their operation.

Key driving factors for the growth of inspection robots market:

Inspection is one of the key processes in every industry. Without proper inspection smooth and efficient working cannot be done. Inspection robots offer many advantages in terms of accuracy, efficiency and reliability. This could be the key driving factor for the growth of inspection robots market.

The inspection robots are capable of performing the inspection even in the dangerous working conditions such as mines where manual inspection can prove to be risky. Hence, the demand for the inspection robots is expected to rise during the forecast period.

Key driving factors for the growth of inspection robots market:

Different technologies have been used in the inspection robots such as artificial intelligence and deep learning. The use of these technologies is costly which in turn increases the cost of the robotic system. This could restrain many small-scale companies to use inspection robots.

Key segments covered:

Segments

Subsegments

Product type

 

  • Drones, or unmanned aerial vehicles (UAVs)
  • Crawlers
  • Submersibles

 

Operation

 

  • Autonomous
  • semi-autonomous

Application

 

  • Pipes
  • Tanks & Vessels
  • Sewers
  • Underwater Inspection
  • others

 

End use industry

 

  • Building & Construction
  • Oil & Gas
  • Power Generation
  • Chemical
  • others

Key benefits of the report:

  • This study presents the analytical depiction of the inspection robots market along with the current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the market share.
  • The current market is quantitatively analyzed from 2020 to 2027 to highlight the market growth scenario.
  • The report provides a detailed inspection robots market analysis based on competitive intensity and how the competition will take shape in coming years.
 
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