The Inspection Robotics market report offers additional insights that could be highly beneficial. For instance, the report illustrates in detail the information concerning market competition trends, which is extremely important data liable to competitor intelligence.
Seattle, WA -- (SBWIRE) -- 11/14/2019 -- In the recent past, robots have been used in various industries, employed for multiple repetitive tasks. In conjunction with the development in the robotic vision systems and sensing, requirements for better production quality in the industrial manufacturing procedures and focus towards eliminating human errors in these operations have in turn led to significant growth of the global inspection robotics market. Some of the major applications of these systems include inspection of water pipelines, high voltage transmission lines, bridges, and dams.
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Market Dynamic- Drivers
Superior quality output and high ROI to drive growth of the global inspection robotics market during the forecast period
Enhanced production quality valuation in industry critical applications, especially in aerospace and oil & gas exploration form the basis of their applications. Human errors in these processes can lead to loss of millions of dollars and can even pose threat to human lives. Thus, high accuracy provided by these robots are expected to boost their demand in the near future. Moreover, high return on investment (ROI), owing to reduction in manual workforce expenses, 24-hour working capacities, less residual waste generation, and minimal human intervention requirement are expected to drive growth of the global inspections robotics market.
Global Inspection Robotics Market Taxonomy
On the basis of control types, the global inspection robotics market is classified into:
-Remotely operated vehicles (ROV)
On the basis of end use industries, the global inspection robotics market is classified into:
-Oil & Gas
-Food & beverage
-Aerospace & defense
On the basis of regions, the global inspection robotics market is classified into:
Advancement in automated visual capability of these next generation systems will enhance the system applicability
Generic robots used to perform typical operations in specific area at particular time, owing to lack of appropriate vision systems. However, integration of vision sensors, cameras, and software that can control the operation of these automated systems has led to significant increase in adoption of these robots. For instance, SkySpecs offers autonomous wind turbine drone examination solutions that can operate independently and examine the various parameters of the turbines to determine its power efficiency. Moreover, such applications in wind power industry, high altitude or unfavorable working environment that endangers human lives can be easily met with the utilization of these systems. These factors are expected to drive the global inspection robotics market growth over the forecast period.
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High initial capital and social unacceptance, owing to significant loss of human jobs are expected to be major challenges of the global inspection robotics market
High initial one time capital, it is difficult for SMEs to adopt these solutions. Availability of low cost work force in some emerging economies that include China, India, and Indonesia are expected to hinder the market growth in the near future. Moreover, requirement to meet regulatory compliances for the co-existence of the human and automated workforce such as Robot Ethics Charter in South Korea and RoboLaw project in the EU, is projected to hamper adoption of inspection robots.
Remotely operated vehicles major growth drivers of the global inspection robotics market
Remotely operated vehicles are connected by cables and can be controlled through central control unit. Increasing use of these systems in surveillance and examination operations is expected to drive the market growth in the near future. Furthermore, autonomous solutions are increasingly gaining popularity, owing to their ease of utilization, and the segment is expected to witness highest growth rate over the forecast period. On the basis of application, oil & gas industry segment held dominant position in the market, owing to its mission critical applications and requirement of accurate real time operation monitoring conducive to ensure optimal productivity.
Among regions, Asia Pacific is expected to hold dominant position in the market during the forecast period. This is owing to large production and sales in emerging economies such as Japan, China, and South Korea. Other major regional markets include the U.S., Germany, and the U.K. The market is characterized by the presence of a relatively small number of original equipment manufacturers (OEMs) in comparison to other types of industrial robots. Most of the solution providers in the industry include system integrators and assemblers. Industry participants are expected to focus on innovation, in order to gain strong industry foothold.
Global Inspection Robotics Market: Key Players
Key players in the global inspection robotics market include AETOs, GE Inspection Robotics, Honeybee Robotics, Inuktun Services, and Universal Robots. Other prominent key players in the global inspection robotics market includes, AZoRobotics, Calmation, Cognex, Cross Robotics, ECA Group, Faro, FMC Technologies, Genesis Systems Group, Hydrovision, Inspectorbots, JH Robotics, Lakeview Vision and Robotics, Leo Robotics, NuTec, RNA Automation, SuperDroid Robots, Robotic Automation Systems, Warren Industrial Solutions, and Wauseon Machine and Manufacturing.
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Global Inspection Robotics Market: Key Developments
-In March 2019, Planys Technologies, an IIT-Madras-incubated start-up that provides underwater robotic inspection solutions, launched advanced remotely operated vehicle (ROV), "Mikros" for deeper underwater inspection.
-In July 2019, Toshiba Energy Systems & Solutions Corporation (Toshiba ESS) launched "Inspection Robot" that can perform inspections at the same level as conventional detailed inspections by certified inspectors on turbine generators in a shorter period of time.
-In April 2016, STRAHL LLC, a North America-based Company, launched new high quality, affordable "Pipe Inspection Robot GECKO 9050" which is developed and manufactured in Germany especially for longer, hard to navigate pipes.
-In November 2018, ABB, a Swiss-based Multinational Corporation, launched "ABB Ability TXplore" in the UK in order to reduce risk as well as duration of outages on critical assets by transformer operators.
-In May 2019, Invert Robotics, New Zealand-based remote robotic inspection service provider, has raised around US$ 8.8 Million for inspection robots which can cling to non-metallic surfaces.
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