Inspection Robots Market Analysis Highlights the Impact of COVID-19 (2020-2024) | Benefits of Robotic Inspection to Boost the Market Growth | Technavio

·6-min read

Technavio has been monitoring the inspection robots market and it is poised to grow by USD 3.72 billion during 2020-2024, progressing at a CAGR of almost 19% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.

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Technavio has announced its latest market research report titled Global Inspection Robots Market 2020-2024 (Graphic: Business Wire)

Although the COVID-19 pandemic continues to transform the growth of various industries, the immediate impact of the outbreak is varied. While a few industries will register a drop in demand, numerous others will continue to remain unscathed and show promising growth opportunities. Technavio’s in-depth research has all your needs covered as our research reports include all foreseeable market scenarios, including pre- & post-COVID-19 analysis. Download a Free Sample Report on COVID-19 Impacts

Frequently Asked Questions-

  • Based on the segmentation by end-user, which is the leading segment in the market?

  • The oil and gas industry is expected to be the leading segment.

  • At what rate is the market projected to grow?

  • Growing at a CAGR of almost 19%, the incremental growth of the market is anticipated to be USD 3.72 billion during the same.

  • Who are the top players in the market?

  • Cognex Corp., Eddyfi NDT Inc., Ensign-Bickford Industries Inc., FARO Technologies Inc., General Electric Co., Groupe Gorgé, IPG Photonics Corp., MISTRAS Group Inc., TechnipFMC Plc, and Teradyne Inc. are some of the major market participants.

  • What are the key market drivers and challenges?

  • Benefits of robotic inspection and integration of IoT and AI to optimize inspection operations are the major factors driving the market. However, the high cost associated with SBH solutions restraints the market growth.

The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Cognex Corp., Eddyfi NDT Inc., Ensign-Bickford Industries Inc., FARO Technologies Inc., General Electric Co., Groupe Gorgé, IPG Photonics Corp., MISTRAS Group Inc., TechnipFMC Plc, and Teradyne Inc. are some of the major market participants. The benefits of robotic inspection will offer immense growth opportunities. To make most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

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Technavio's custom research reports offer detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will also help clients keep up with new product launches in direct & indirect COVID-19 related markets, upcoming vaccines and pipeline analysis, and significant developments in vendor operations and government regulations.

Inspection Robots Market 2020-2024: Segmentation

Inspection Robots Market is segmented as below:

  • End-user

    • Oil And Gas

    • Petrochemicals

    • Food and Beverages

    • Others

  • Type

    • ROVs

    • Autonomous Robots

  • Geographic Landscape

    • APAC

    • Europe

    • MEA

    • North America

    • South America

To learn more about the global trends impacting the future of market research, download a free sample: https://www.technavio.com/talk-to-us?report=IRTNTR40023

Inspection Robots Market 2020-2024: Scope

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The inspection robots market report covers the following areas:

  • Inspection Robots Market Size

  • Inspection Robots Market Trends

  • Inspection Robots Market Analysis

This study identifies the integration of IoT and AI to optimize inspection operations as one of the prime reasons driving the inspection robots market growth during the next few years.

Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.

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Inspection Robots Market 2020-2024: Key Highlights

  • CAGR of the market during the forecast period 2020-2024

  • Detailed information on factors that will assist inspection robots market growth during the next five years

  • Estimation of the inspection robots market size and its contribution to the parent market

  • Predictions on upcoming trends and changes in consumer behavior

  • The growth of the inspection robots market

  • Analysis of the market’s competitive landscape and detailed information on vendors

  • Comprehensive details of factors that will challenge the growth of inspection robots market vendors

Table of Contents:

PART 01: EXECUTIVE SUMMARY

PART 02: SCOPE OF THE REPORT

  • 2.1 Preface

  • 2.2 Preface

  • 2.3 Currency conversion rates for US$

PART 03: MARKET LANDSCAPE

  • Market ecosystem

  • Value chain analysis

  • Market characteristics

  • Market segmentation analysis

PART 04: MARKET SIZING

  • Market definition

  • Market sizing 2019

  • Market Outlook

  • Market size and forecast 2019-2024

PART 05: FIVE FORCES ANALYSIS

  • Bargaining power of buyers

  • Bargaining power of suppliers

  • Threat of new entrants

  • Threat of substitutes

  • Threat of rivalry

  • Market condition

PART 06: MARKET SEGMENTATION BY TYPE

  • Market segmentation by type

  • Comparison by type

  • ROVs - Market size and forecast 2019-2024

  • Autonomous robots - Market size and forecast 2019-2024

  • Market opportunity by type

PART 07: CUSTOMER LANDSCAPE

PART 08: MARKET SEGMENTATION BY END-USER

  • Market segmentation by end-user

  • Comparison by end-user

  • Oil and gas - Market size and forecast 2019-2024

  • Petrochemicals - Market size and forecast 2019-2024

  • Food and beverages - Market size and forecast 2019-2024

  • Others - Market size and forecast 2019-2024

  • Market opportunity by end-user

PART 09: GEOGRAPHIC LANDSCAPE

  • Geographic segmentation

  • Geographic comparison

  • Europe - Market size and forecast 2019-2024

  • North America - Market size and forecast 2019-2024

  • APAC - Market size and forecast 2019-2024

  • South America - Market size and forecast 2019-2024

  • MEA - Market size and forecast 2019-2024

  • Key leading countries

  • Market opportunity

PART 10: DECISION FRAMEWORK

PART 11: DRIVERS AND CHALLENGES

  • Market drivers

  • Market challenges

PART 12: MARKET TRENDS

  • Advances in robotic inspection

  • Integration of IoT and AI to optimize inspection operations

  • Advances in mobile robots

PART 13: VENDOR LANDSCAPE

  • Overview

  • Landscape disruption

  • Competitive scenario

PART 14: VENDOR ANALYSIS

  • Vendors covered

  • Vendor classification

  • Market positioning of vendors

  • Cognex Corp.

  • Eddyfi NDT, Inc.

  • Ensign-Bickford Industries Inc.

  • FARO Technologies Inc.

  • General Electric Co.

  • Groupe Gorgé

  • IPG Photonics Corp.

  • MISTRAS Group Inc.

  • TechnipFMC Plc

  • Teradyne Inc.

PART 15: APPENDIX

  • Research methodology

  • List of abbreviations

  • Definition of market positioning of vendors

PART 16: EXPLORE TECHNAVIO

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View source version on businesswire.com: https://www.businesswire.com/news/home/20200812005013/en/

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