Insights on the Inspection Robots Global Market to 2028 - Featuring ABB, Teradyne, Mitsubishi Electric and Eddyfi Technologies Among Others

DUBLIN, Jan. 30, 2023 /PRNewswire/ -- Research and Markets

The "Global Inspection Robots Market Size, Share & Industry Trends Analysis Report By Robot Type, By Testing Type (Non-destructive Inspection and Automated Metrology), By Application, By Regional Outlook and Forecast, 2022 - 2028" report has been added to  ResearchAndMarkets.com's offering.

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.

COVID-19 Impact Analysis

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.

Market Growth Factors

Robotic Inspection Advantages Over Manual Inspection

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.

Changes In Technology For The Industrial Industry

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.

Marketing Restraining Factor:

Initiation Costs For The Machines Are High

Given the current stage of industrial development, integrating robot arms and other gear is a difficult task. The end user is expected to require a certified system integrator if they lacked the required engineering expertise.

Accuracy and cycle time is expected to 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).

Key Topics Covered:

Chapter 1. Market Scope & Methodology

Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.1.1 Market composition & scenarios
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints

Chapter 3. Strategies Deployed in Inspection Robots Market

Chapter 4. Global Inspection Robots Market by Robot Type
4.1 Global Mobile Robots Market by Region
4.2 Global Stationary Robotic Arm Market by Region

Chapter 5. Global Inspection Robots Market by Testing Type
5.1 Global Non-destructive Inspection Market by Region
5.2 Global Automated Metrology Market by Region

Chapter 6. Global Inspection Robots Market by Application
6.1 Global Oil & Gas Market by Region
6.2 Global Food & Beverage Market by Region
6.3 Global Pharmaceutical Market by Region
6.4 Global Electronics Market by Region
6.5 Global Others Market by Region

Chapter 7. Global Inspection Robots Market by Region

Chapter 8. Company Profiles
8.1 ABB Group
8.1.1 Company Overview
8.1.2 Financial Analysis
8.1.3 Segmental and Regional Analysis
8.1.4 Research & Development Expense
8.1.5 SWOT Analysis
8.2 Teradyne, Inc. (Universal Robots A/S)
8.2.1 Company Overview
8.2.2 Financial Analysis
8.2.3 Segmental and Regional Analysis
8.2.4 Recent strategies and developments:
8.2.4.1 Acquisition and Mergers:
8.3 Mitsubishi Electric Corporation
8.3.1 Company Overview
8.3.2 Financial Analysis
8.3.3 Segmental and Regional Analysis
8.3.4 Research & Development Expense
8.4 Eddyfi Technologies
8.4.1 Company Overview
8.4.2 Recent strategies and developments:
8.4.2.1 Product Launches and Product Expansions:
8.4.2.2 Acquisition and Mergers:
8.5 Gecko Robotics, Inc.
8.5.1 Company Overview
8.5.2 Recent strategies and developments:
8.5.2.1 Partnerships, Collaborations, and Agreements:
8.5.2.2 Product Launches and Product Expansions:
8.6 Genesis Systems (IPG Photonics Corporation)
8.6.1 Company Overview
8.6.2 Financial Analysis
8.6.3 Regional Analysis
8.6.4 Research & Development Expenses
8.7 Baker Hughes Company (Waygate Technologies)
8.7.1 Company Overview
8.7.2 Financial Analysis
8.7.3 Segmental and Regional Analysis
8.7.4 Research & Development Expenses
8.7.5 Recent strategies and developments:
8.7.5.1 Product Launches and Product Expansions:
8.8 Honeybee Robotics (Ensign-Bickford Industries, Inc.)
8.8.1 Company Overview
8.9 Invert Robotics Group Limited
8.9.1 Company Overview
8.10. JH Robotics, Inc.
8.10.1 Company Overview

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