Inspection Robots Market

What are the Key Developments in the Inspection Robots Market?

Inspection robots can examine objects and locations humans cannot see with their natural eyes. Inspection robots can travel around machinery or vehicles and squeeze into tight places. They can also readily scale walls—the cost of inspection robots increases by integrating cameras, sensors, and other electronics with operational software. Furthermore, using Artificial Intelligence (A.I.), IoT usage in inspection robots can show progress and improve their effectiveness (A.I.). These developments build new business opportunities for the inspection robots market.

What is the Market Size of Inspection Robots in terms of Value?

The global inspection robots market is projected to increase at a significant CAGR of 30.10% in the coming years. In 2021, the global inspection robotics market was valued at USD 945.5 Million and was projected to reach a value of USD 4584.85 million by 2028. The demand for inspection robots will increase substantially in the coming years. It is presumed to generate revenue opportunities for the key industry players worth USD 3639.35 million during the forecast period between 2022 and 2028.

Interesting Facts about Inspection Robots Industry

• Mobile service robots with cutting-edge vision sensors often assess vital and expensive infrastructure.
• Robots used to assess infrastructure are showing advancement, which is an opportunity for market growth.
• The advantages of robotic inspection over manual inspection drive the market’s growth.
• The presence of several offshore oil and gas enterprises in the Mexico basin and North America opens up significant growth potential for the producers of infrastructure inspection robots, which is projected to spur the inspection robots market growth during the forecast period.
• The use of mobile automation and fully autonomous inspection technologies in the oil and gas sector has significantly improved the monitoring of critical refinery systems and components, a significant factor driving the market expansion in the coming years.

Who are the Top 10 players/companies in the inspection robot market regarding Value and volume?

The key players in the global inspection robot market in terms of Value and volume include Gecko Robotics, Inc., Eddyfi Technologies, Honeybee Robotics, Invert Robotics, J.H. Robotics, Inc., Genesis Systems (IPG Photonics), Shenzhen SROD Industrial Group Co., Ltd, Universal Robots, Montrose Technologies, and Waygate Technologies (Baker Hughes Company). These major firms are focusing on new product developments as well as technological innovation to gain competitive market share at a global level. For instance, in November 2020, the Aker BP and Cognite quadruped robot dog, an autonomous robotic system that will alter the industry through digitization, increased productivity, security, and sustainability at the North Sea offshore, has completed deployment. Furthermore, in January 2021, PETRONAS, a Malaysian oil and gas company, teamed up with ANYbotics to enable unmanned industrial inspections on its oil and gas sites. All these factors are projected to drive market growth.

Who are the Top 10 Countries in the Inspection Robots Market?

The major global inspection robot market countries are the US, Canada, Mexico, Brazil, Germany, France, Italy, Spain, China, and India. The U.S. has several significant producers, driving the market for inspection robots in the coming years. Furthermore, suppliers are investing heavily in research and development operations, and making quick technological strides is projected to drive the market’s expansion. Therefore, regulatory agencies should maintain and inspect goods to the required standards.

Which is the Key Application Area in the Inspection Robots Market?

Even in remote or dangerous situations, mobile robots allow safe, dependable inspections for condition monitoring and predictive maintenance, which is anticipated to drive market growth during the forecast period. Moreover, maximizing uptime is simple, with regular remote monitoring of mobile robots being another driving factor in the market. These robotic inspections assist in determining the need for preventative maintenance and evaluating risk so that repair work can be prioritized. Conducting the risky checks more frequently and without downtime using a mobile robot is a significant factor spurring the market’s growth. The industrial inspection robot runs an autonomous mission, allowing operators in a control room to concentrate on other duties rather than performing manual assessments. The operators can quickly review the results or receive real-time alerts if problems are detected.

What are the Major Driving Factors for Inspection Robot Market?

The worldwide inspection robotics market is expected to increase throughout the projected period due to the high ROI and output of superior quality. Their applications are based on improved production quality evaluation in applications crucial to the business, particularly aerospace and oil & gas exploration. Therefore, over the coming years, it is anticipated that demand for these applications with great accuracy will remain steady. Moreover, the global inspections robots market will have significant potential opportunities due to high return on investment (ROI), 24-hour working capacities, decreased residual trash generation, and fewer human intervention requirements.

What are the Major Restraints for Inspection Robot Market?

High initial capital costs and social rejection resulting from the significant loss of human jobs are anticipated to hamper the market growth. It is challenging for SMEs to hold these solutions due to their large initial one-time capital requirements. Another major factor hampering development will be the availability of low-cost labor in several rising economies, such as China, India, and Indonesia. In addition, the deployment of inspection robots is expected to be hampered by the need to adhere to legal requirements for the coexistence of a human and automated workforce, such as the Robot Ethics Charter in South Korea and the RoboLaw project in the E.U.

Which Region Dominated the World Inspection Robot Market?

The presence of several offshore oil and gas firms in the Mexico basin and North America will undoubtedly provide significant growth prospects for the producers of infrastructure inspection robots. In addition, the long-term advantage for consumers and developers, analytics is taking on a more substantial role in infrastructure inspection robots. Building a robust and adaptable infrastructure inspection robot has been made possible by advancements in sensing, mapping, actuation, locomotion, and control, which are anticipated to drive regional growth.

Segmentation of Global Inspection Robot Market-

Global Inspection Robots Market – By Robot Type

•  Stationary robotic arm
• Mobile robots

Global Inspection Robots Market – By Testing Type

• Automated metrology
• Non-destructive inspection

Global Inspection Robots Market – By End-user Industry

• Oil & gas
• Food & beverage
• Pharmaceutical
• Electronics
• Others

1. Preface
1.1. Report Description
1.1.1. Purpose of the Report
1.1.2. Target Audience
1.1.3. USP and Key Offerings
1.2. Research Scope
1.3. Research Methodology
1.3.1. Phase I – Secondary Research
1.3.2. Phase II – Primary Research
1.3.3. Phase III – Expert Panel Review
1.3.4. Approach Adopted
1.3.4.1. Top-Down Approach
1.3.4.2. Bottom-Up Approach
1.3.5. Assumptions
1.4. Market Segmentation

2. Executive Summary
2.1. Market Snapshot: Global Inspection Robot Market

3. Market Dynamics & Factors Analysis
3.1. Introduction
3.1.1. Global Inspection Robot Market Value, 2016-2028, (US$ Bn)
3.2. Market Dynamics
3.2.1. Key Growth Trends
3.2.2. Major Industry Challenges
3.2.3. Key Growth Pockets
3.3. Attractive Investment Proposition,2021
3.3.1. Robot Type
3.3.2. Testing Type
3.3.3. End-User Industry
3.3.4. Geography
3.4. Porter’s Five Forces Analysis
3.4.1. Threat of New Entrants
3.4.2. Bargaining Power of Buyers/Consumers
3.4.3. Bargaining Power of Suppliers
3.4.4. Threat of Substitute Types
3.4.5. Intensity of Competitive Rivalry
3.5. Value Chain Analysis

4. Market Positioning of Key Players, 2021
4.1. Company market share of key players, 2021
4.2. Competitive Benchmarking
4.3. Geographical Presence Analysis
4.4. Major Strategies Adopted by Key Players
4.4.1. Key Strategies Analysis
4.4.2. Mergers and Acquisitions
4.4.3. Partnerships
4.4.4. Product Launch
4.4.5. Geographical Expansion
4.4.6. Others

5. COVID 19 Impact Analysis
5.1. Global Inspection Robot Market Pre Vs Post COVID 19, 2019 – 2028
5.2. Impact on Import & Export
5.3. Impact on Demand & Supply

6. North America
6.1. North America Inspection Robot Market, by Country, 2016-2028(US$ Bn)
6.1.1. U.S.
6.1.2. Canada
6.1.3. Mexico
6.2. North America Inspection Robot Market, by Robot Type, 2016-2028(US$ Bn)
6.2.1. Overview
6.2.2. Stationary Robotic Arm
6.2.3. Mobile Robots
6.3. North America Inspection Robot Market, by Testing Type, 2016-2028(US$ Bn)
6.3.1. Overview
6.3.2. Automated Metrology
6.3.3. Nondestructive inspection
6.4. North America Inspection Robot Market, by End-User Industry, 2016-2028(US$ Bn)
6.4.1. Overview
6.4.2. Oil & gas
6.4.3. Food & beverage
6.4.4. Pharmaceutical
6.4.5. Electronics
6.4.6. Others

7. Europe
7.1. Europe Inspection Robot Market, by Country, 2016-2028(US$ Bn)
7.1.1. UK
7.1.2. France
7.1.3. Germany
7.1.4. Italy
7.1.5. Russia
7.1.6. Ukraine
7.1.7. Spain
7.1.8. Belgium
7.1.9. Netherland
7.1.10. Austria
7.1.11. Sweden
7.1.12. Poland
7.1.13. Denmark
7.1.14. Switzerland
7.1.15. Rest of Europe
7.2. Europe Inspection Robot Market, by Robot Type, 2016-2028(US$ Bn)
7.2.1. Overview
7.2.2. Stationary Robotic Arm
7.2.3. Mobile Robots
7.3. Europe Inspection Robot Market, by Testing Type, 2016-2028(US$ Bn)
7.3.1. Overview
7.3.2. Automated Metrology
7.3.3. Nondestructive inspection
7.4. Europe Inspection Robot Market, by End-User Industry, 2016-2028(US$ Bn)
7.4.1. Overview
7.4.2. Oil & gas
7.4.3. Food & beverage
7.4.4. Pharmaceutical
7.4.5. Electronics
7.4.6. Others

8. Asia Pacific
8.1. Asia Pacific Inspection Robot Market, by Country, 2016-2028(US$ Bn)
8.1.1. China
8.1.2. Japan
8.1.3. South Korea
8.1.4. India
8.1.5. Australia
8.1.6. New Zealand
8.1.7. Taiwan
8.1.8. Indonesia
8.1.9. Malaysia
8.1.10. Philippine
8.1.11. Rest of Asia Pacific
8.2. Asia Pacific Inspection Robot Market, by Robot Type, 2016-2028(US$ Bn)
8.2.1. Overview
8.2.2. Stationary Robotic Arm
8.2.3. Mobile Robots
8.3. Asia Pacific Inspection Robot Market, by Testing Type, 2016-2028(US$ Bn)
8.3.1. Overview
8.3.2. Automated Metrology
8.3.3. Nondestructive inspection
8.4. Asia Pacific Inspection Robot Market, by End-User Industry, 2016-2028(US$ Bn)
8.4.1. Overview
8.4.2. Oil & gas
8.4.3. Food & beverage
8.4.4. Pharmaceutical
8.4.5. Electronics
8.4.6. Others

9. Latin America
9.1. Latin America Inspection Robot Market, by Country, 2016-2028(US$ Bn)
9.1.1. Brazil
9.1.2. Argentina
9.1.3. Peru
9.1.4. Chile
9.1.5. Colombia
9.1.6. Rest of Latin America
9.2. Latin America Inspection Robot Market, by Robot Type, 2016-2028(US$ Bn)
9.2.1. Overview
9.2.2. Stationary Robotic Arm
9.2.3. Mobile Robots
9.3. Latin America Inspection Robot Market, by Testing Type, 2016-2028(US$ Bn)
9.3.1. Overview
9.3.2. Automated Metrology
9.3.3. Nondestructive inspection
9.4. Latin America Inspection Robot Market, by End-User Industry, 2016-2028(US$ Bn)
9.4.1. Overview
9.4.2. Oil & gas
9.4.3. Food & beverage
9.4.4. Pharmaceutical
9.4.5. Electronics
9.4.6. Others

10. Middle East
10.1. Middle East Inspection Robot Market, by Country, 2016-2028(US$ Bn)
10.1.1. UAE
10.1.2. KSA
10.1.3. Israel
10.1.4. Turkey
10.1.5. Iran
10.1.6. Rest of Middle East
10.2. Middle East Inspection Robot Market, by Robot Type, 2016-2028(US$ Bn)
10.2.1. Overview
10.2.2. Stationary Robotic Arm
10.2.3. Mobile Robots
10.3. Middle East Inspection Robot Market, by Testing Type, 2016-2028(US$ Bn)
10.3.1. Overview
10.3.2. Automated Metrology
10.3.3. Nondestructive inspection
10.4. Middle East Inspection Robot Market, by End-User Industry, 2016-2028(US$ Bn)
10.4.1. Overview
10.4.2. Oil & gas
10.4.3. Food & beverage
10.4.4. Pharmaceutical
10.4.5. Electronics
10.4.6. Others

11. Africa
11.1. Africa Inspection Robot Market, by Country, 2016-2028(US$ Bn)
11.1.1. South Africa
11.1.2. Egypt
11.1.3. Nigeria
11.1.4. Rest of Africa
11.2. Africa Inspection Robot Market, by Robot Type, 2016-2028(US$ Bn)
11.2.1. Overview
11.2.2. Stationary Robotic Arm
11.2.3. Mobile Robots
11.3. Africa Inspection Robot Market, by Testing Type, 2016-2028(US$ Bn)
11.3.1. Overview
11.3.2. Automated Metrology
11.3.3. Nondestructive inspection
11.4. Africa Inspection Robot Market, by End-User Industry, 2016-2028(US$ Bn)
11.4.1. Overview
11.4.2. Oil & gas
11.4.3. Food & beverage
11.4.4. Pharmaceutical
11.4.5. Electronics
11.4.6. Others

12. Global
12.1. Global Inspection Robot Market, by Robot Type, 2016-2028(US$ Bn)
12.1.1. Overview
12.1.2. Stationary Robotic Arm
12.1.3. Mobile Robots
12.2. Global Inspection Robot Market, by Testing Type, 2016-2028(US$ Bn)
12.2.1. Overview
12.2.2. Automated Metrology
12.2.3. Nondestructive inspection
12.3. Global Inspection Robot Market, by End-User Industry, 2016-2028(US$ Bn)
12.3.1. Overview
12.3.2. Oil & gas
12.3.3. Food & beverage
12.3.4. Pharmaceutical
12.3.5. Electronics
12.3.6. Others

13. Company Profiles
13.1. Gecko Robotics, Inc.
13.2. Eddyfi Technologies
13.3. Honeybee Robotics
13.4. Invert Robotics
13.5. J.H. Robotics, Inc.
13.6. Genesis Systems (IPG Photonics)
13.7. Shenzhen SROD Industrial Group Co., Ltd
13.8. Universal Robots
13.9. Montrose Technologies,
13.10. Waygate Technologies (Baker Hughes Company

List of Figures

FIG. 1 Global Inspection Robot Market: Research Methodology
FIG. 2 Market Size Estimation – Top Down & Bottom up Approach
FIG. 3 Global Inspection Robot Market Segmentation
FIG. 4 Global Inspection Robot Market, by Robot Type, 2021 (US$ Bn)
FIG. 5 Global Inspection Robot Market, by Testing Type, 2021 (US$ Bn)
FIG. 6 Global Inspection Robot Market, by End-User Industry, 2021 (US$ Bn)
FIG. 7 Global Inspection Robot Market, by Geography, 2021 (US$ Bn)
FIG. 8 Attractive Investment Proposition, by Robot Type, 2021
FIG. 9 Attractive Investment Proposition, by Testing Type, 2021
FIG. 10 Attractive Investment Proposition, by End-User, 2021
FIG. 11 Attractive Investment Proposition, by Geography, 2021
FIG. 12 Global Market Positioning of Key Inspection Robot Market Manufacturers, 2019
FIG. 13 Global Inspection Robot Market Value Contribution, By Robot Type, 2021 & 2028 (Value %)
FIG. 14 Global Inspection Robot Market, by Stationary Robotic Arm, Value, 2016-2028 (US$ Bn)
FIG. 15 Global Inspection Robot Market, by Mobile Robots, Value, 2016-2028 (US$ Bn)
FIG. 16 Global Inspection Robot Market Value Contribution, By Testing Type, 2021 & 2028 (Value %)
FIG. 17 Global Inspection Robot Market, by Automated Metrology, Value, 2016-2028 (US$ Bn)
FIG. 18 Global Inspection Robot Market, by Nondestructive inspection, Value, 2016-2028 (US$ Bn)
FIG. 19 Global Inspection Robot Market Value Contribution, By Testing Type, 2021 & 2028 (Value %)
FIG. 20 Global Inspection Robot Market, by Oil & gas, Value, 2016-2028 (US$ Bn)
FIG. 21 Global Inspection Robot Market, by Food & beverage, Value, 2016-2028 (US$ Bn)
FIG. 22 Global Inspection Robot Market, by Pharmaceutical, Value, 2016-2028 (US$ Bn)
FIG. 23 Global Inspection Robot Market, by Electronics, Value, 2016-2028 (US$ Bn)
FIG. 24 Global Inspection Robot Market, by Others, Value, 2016-2028 (US$ Bn)
FIG. 25 U.S. Inspection Robot Market, 2016-2028 (US$ Bn)
FIG. 26 Rest of North America Inspection Robot Market, 2016-2028 (US$ Bn)
FIG. 27 U.K. Inspection Robot Market, 2016-2028 (US$ Bn)
FIG. 28 Germany Inspection Robot Market, 2016-2028 (US$ Bn)
FIG. 29 France Inspection Robot Market, 2016-2028 (US$ Bn)
FIG. 30 Italy Inspection Robot Market, 2016-2028 (US$ Bn)
FIG. 31 Spain Inspection Robot Market, 2016-2028 (US$ Bn)
FIG. 32 Russia Inspection Robot Market, 2016-2028 (US$ Bn)
FIG. 33 BENELUX Inspection Robot Market, 2016-2028 (US$ Bn)
FIG. 34 Poland Inspection Robot Market, 2016-2028 (US$ Bn)
FIG. 35 Austria Inspection Robot Market, 2016-2028 (US$ Bn)
FIG. 36 Rest of Europe Inspection Robot Market, 2016-2028 (US$ Bn)
FIG. 37 Japan Inspection Robot Market, 2016-2028 (US$ Bn)
FIG. 38 China Inspection Robot Market, 2016-2028 (US$ Bn)
FIG. 39 India Inspection Robot Market, 2016-2028 (US$ Bn)
FIG. 40 South Korea Inspection Robot Market, 2016-2028 (US$ Bn)
FIG. 41 Australia Inspection Robot Market, 2016-2028 (US$ Bn)
FIG. 42 Southeast Asia Inspection Robot Market, 2016-2028 (US$ Bn)
FIG. 43 Rest of Asia Pacific Inspection Robot Market, 2016-2028 (US$ Bn)
FIG. 44 Middle East & Africa Inspection Robot Market, 2016-2028 (US$ Bn)
FIG. 45 South Africa Inspection Robot Market, 2016-2028 (US$ Bn)
FIG. 46 Nigeria Inspection Robot Market, 2016-2028 (US$ Bn)
FIG. 47 Egypt Inspection Robot Market, 2016-2028 (US$ Bn)
FIG. 48 GCC Inspection Robot Market, 2016-2028 (US$ Bn)
FIG. 49 Israel Inspection Robot Market, 2016-2028 (US$ Bn)
FIG. 50 Latin America Inspection Robot Market, 2016-2028 (US$ Bn)
FIG. 51 Brazil Inspection Robot Market, 2016-2028 (US$ Bn)
FIG. 52 Argentina Inspection Robot Market, 2016-2028 (US$ Bn)
FIG. 53 Colombia Inspection Robot Market, 2016-2028 (US$ Bn)
FIG. 54 Peru Inspection Robot Market, 2016-2028 (US$ Bn)
FIG. 55 Chile Inspection Robot Market, 2016-2028 (US$ Bn)

List Of Tables

TABLE 1 Market Snapshot: Global Inspection Robot Market
TABLE 2 Global Inspection Robot Market, by Robot Type, 2016-2028 (US$ Bn)
TABLE 3 Global Inspection Robot Market, by Testing Type, 2016-2028 (US$ Bn)
TABLE 4 Global Inspection Robot Market, by Geography, 2016-2028 (US$ Bn)
TABLE 5 North America Inspection Robot Market, by Robot Type, 2016-2028 (US$ Bn)
TABLE 6 North America Inspection Robot Market, by Testing Type, 2016-2028 (US$ Bn)
TABLE 7 North America Inspection Robot Market, by End-User Industry, 2016-2028 (US$ Bn)
TABLE 8 North America Inspection Robot Market, by Country, 2016-2028 (US$ Bn)
TABLE 9 Europe Inspection Robot Market, by Robot Type, 2016-2028 (US$ Bn)
TABLE 10 Europe Inspection Robot Market, by Testing Type, 2016-2028 (US$ Bn)
TABLE 11 Europe Inspection Robot Market, by End-User Industry, 2016-2028 (US$ Bn)
TABLE 12 Europe Inspection Robot Market, by Country/Region, 2016-2028 (US$ Bn)
TABLE 13 Asia Pacific Inspection Robot Market, by Robot Type, 2016-2028 (US$ Bn)
TABLE 14 Asia Pacific Inspection Robot Market, by Testing Type, 2016-2028 (US$ Bn)
TABLE 15 Asia Pacific Inspection Robot Market, by End-User Industry, 2016-2028 (US$ Bn)
TABLE 16 Asia Pacific Inspection Robot Market, by Country/Region, 2016-2028 (US$ Bn)
TABLE 17 Latin America Inspection Robot Market, by Robot Type, 2016-2028 (US$ Bn)
TABLE 18 Latin America Inspection Robot Market, by Testing Type, 2016-2028 (US$ Bn)
TABLE 19 Latin America Inspection Robot Market, by End-User Industry, 2016-2028 (US$ Bn)
TABLE 20 Latin America Inspection Robot Market, by Country/Region, 2016-2028 (US$ Bn)
TABLE 21 Middle East Inspection Robot Market, by Robot Type, 2016-2028 (US$ Bn)
TABLE 22 Middle East Inspection Robot Market, by Testing Type, 2016-2028 (US$ Bn)
TABLE 23 Middle East Inspection Robot Market, by End-User Industry, 2016-2028 (US$ Bn)
TABLE 24 Middle East Inspection Robot Market, by Country/Region, 2016-2028 (US$ Bn)
TABLE 25 Africa Inspection Robot Market, by Robot Type, 2016-2028 (US$ Bn)
TABLE 26 Africa Inspection Robot Market, by Testing Type, 2016-2028 (US$ Bn)
TABLE 27 Africa Inspection Robot Market, by End-User Industry, 2016-2028 (US$ Bn)
TABLE 28 Africa Inspection Robot Market, by Country/Region, 2016-2028 (US$ Bn)