Inspection Robots Market Forecast & Trends Analysis Report 2024-2031 - Increasing Adoption Of Industry 4.0 Technologies Accelerating Market Expansion - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Inspection Robots Market Size, Share, Forecast, & Trends Analysis by Type, Application, End User and Geography - Global Forecast to 2031" report has been added to ResearchAndMarkets.com's offering.

The inspection robots market is projected to reach $5.59 billion by 2031, at a CAGR of 21.6% from 2024 to 2031

The growth of the inspection robots market is fueled by the growing demand for automated inspection processes, stringent government regulations & compliances related to product quality & safety, and the increasing adoption of Industry 4.0 technologies. However, the high initial investment requirements and the shortage of skilled & qualified personnel hinder market growth.

Moreover, the technological advancements in inspection robots are expected to generate growth opportunities for the players operating in this market. However, the efficient integration of inspection robots with existing production lines and safety issues with inspection robots are some of the major challenges impacting market growth.

In 2024, Asia-Pacific is expected to account for the largest share of 63.2% of the global inspection robots market. The growth of this market can be attributed to the increasing adoption of automation and advanced technologies, the presence of leading companies operating in this market, and the easy availability of their forthcoming products and services. Additionally, the market in Asia-Pacific is projected to register the highest CAGR of 22.3% during the forecast period.

In 2024, the stationary robots segment is expected to account for the largest share of 54.0% of the inspection robots market.

The segment's large market share is attributed to the rising need to meet specified quality standards, high efficiency with reduced downtimes provided by stationary robots, greater occupational safety, and intelligent data analysis.

However, the mobile robots segment is anticipated to register a higher CAGR during the forecast period. The growth of this segment is attributed to factors such as their flexibility in covering large infrastructure areas with a single robot, their capability to inspect critical and hazardous areas, and the increasing adoption of mobile robots in inspection services, particularly within the oil and gas industry.

In 2024, the ultrasonic inspection segment is expected to account for the largest share of 20.0% of the inspection robots market.

The segment's large market share is attributed to the growing adoption of inspection robots to detect flaws and assess the integrity of materials and the rising use of inspection robots to increase the speed and efficiency of inspection.

However, the visual Inspection segment is expected to register the highest CAGR during the forecast period. The growth of this segment is attributed to the growing adoption of inspection robots to automate repetitive inspection tasks and the increasing need for visual inspection in industries such as manufacturing, automotive, electronics, pharmaceuticals, and food & beverage.

In 2024, the industry segment is expected to account for the largest share of 71.5% of the inspection robots market.

The segment's large market share is attributed to the increasing demand for high-quality standards, the adoption of robots for quality inspection, and the need to optimize production processes across manufacturing industries.

Moreover, the industry segment is expected to register the highest CAGR during the forecast period.

Key questions answered in the report:

• Which are the high-growth market segments based on type, application, and end user?
• What was the historical market for inspection robots?
• What are the market forecasts and estimates for the period 2024-2031?
• What are the major drivers, restraints, and opportunities in the inspection robots market?
• Who are the major players in the inspection robots market?
• What is the competitive landscape like?
• What are the recent developments in the inspection robots market?
• What are the different strategies adopted by the major players in the inspection robots market?
• Who are the emerging players in the inspection robots market, and how do they compete with the other players?

Inspection Robots Market Insights

• Growing Demand For Automated Inspection Processes Supporting Market Growth
• Stringent Government Regulations & Compliances Related To Product Quality & Safety Driving Market Growth
• Increasing Adoption Of Industry 4.0 Technologies Accelerating Market Expansion
• High Initial Investment Requirements Limiting Market Growth
• Shortage Of Skilled & Qualified Personnel Restricting The Adoption Of Inspection Robots
• Technological Advancements In Inspection Robots Expected To Generate Growth Opportunities For Market Stakeholders
• Efficient Integration of Inspection Robots With Existing Production Lines Expected To Remain A Major Challenge
• Safety Issues With Inspection Robots Impacting Market Growth
• Porter's Five Forces Analysis

Competition Analysis

Competitive Dashboard

• Industry Leaders
• Market Differentiators
• Vanguards
• Emerging Companies

Market Share Analysis (2023)

• ABB, LTD.
• Fanuc Corporation
• Yaskawa Electric Corporation
• KUKA AG
• Mitsubishi Heavy Industries Limited

Company Profiles

• ABB Ltd (Sweden)
• Fanuc Corporation (Japan)
• Yaskawa Electric Corporation (Japan)
• KUKA AG (Germany)
• Mitsubishi Heavy Industries Ltd. (Japan)
• Kawasaki Heavy Industries Ltd. (Japan)
• Denso Corporation (Japan)
• Seiko Epson Corporation (Japan)
• Universal Robots A/S (Denmark)
• Waygate Technologies (Germany)
• Eddyfi Technologies (Canada)
• ANYbotics AG (Switzerland)
• Hangzhou Shenhao Technology Co. Ltd. (China)
• Robotnik Automation S.L. (Spain)
• PetroBot Technologies Private Limited (India)
• Systemantics India Pvt. Ltd. (India)
• SMP Robotics Systems Corp. (U.S.)
• Energy Robotics GmbH (Germany)

Scope of the Report:

Inspection Robots Market Assessment - by Type

• Stationary Robots
• Mobile Robots

Inspection Robots Market Assessment - by Application

• Ultrasonic Inspection
• Thermal Inspection
• Radiography Inspection
• Visual Inspection
• Laser Scanning
• Tangential Eddy Current Array
• Photogrammetry
• Alternating Current Field Measurement
• Other Applications

Inspection Robots Market Assessment - by End User

• Industry
• Automotive
• Food and Beverage
• Oil & Gas
• Semiconductor & Electronics
• Aerospace and Defense
• Pharmaceutical
• Machinery & Metal
• Other Industries
• Inspection Services

Inspection Robots Market Assessment - by Geography

• Asia-Pacific
• China
• Japan
• India
• Australia
• South Korea
• Taiwan
• Rest of Asia-Pacific
• North America
• U.S.
• Canada
• Europe
• Germany
• U.K.
• France
• Italy
• Spain
• Switzerland
• Sweden
• Rest of Europe
• Latin America
• Mexico
• Brazil
• Argentina
• Rest of Latin America
• Middle East & Africa
• UAE
• Saudi Arabia
• Israel
• Rest of Middle East & Africa

For more information about this report visit https://www.researchandmarkets.com/r/f4gkmo

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