Inspection Robot Market is expected to generate USD 2,435.1 Mn by 2033
Published on : Monday 06-03-2023
Inspection robots can be utilised to inspect the quality of the products, any failures in the manufacturing system, transportation, etc.
March 2023 – The global inspection robots market is estimated to exceed US$ 1,087.0 Million by the end of 2023, by growing at an impressive CAGR of 8.4% over the assessment period of 2023-2033.
Inspections play a vital role in almost every industrial sector. Regular inspections provide a thorough examination of the performance of the equipment, and the safety of the workers, and also enable monitoring of every stage that is in process in the industry.
Inspection robots can be utilised to inspect the quality of the products, any failures in the manufacturing system, transportation of the products, leakages, and other activities. These robots can be equipped with advanced technological devices that enable them to detect or inspect activities that are invisible to the naked eye of humans.
The XX region is leading in the robotics industry and its usage in all its services and industries. These factors will provide a boost to the market. In addition, the other developing countries are now realizing the importance of the inspection services provided by the robots. Owing to the rising penetration of these inspection robots in various end-use industries like oil and gas, manufacturing, food and beverage, and others will propel the sales for inspection robots.
Key Takeaways from Study
· Global inspection robots market is poised to expand and reach the valuation of USD 2,435.1 Million by the end of 2033.
· The global inspection robots market witnessed a healthy CAGR of 6.2% during 2018 to 2022.
· Under the axes segment, 6-axis or more sub-segment inspection robots are estimated to account for approximately a 38.5% share of the aftermarket sub-segment in 2023.
· By orientation segment, the stationary arm sub-segment is likely to account for 53.3% of revenue share by obtaining a valuation of US$ 578.9Million in 2023.
· Europe region is expected to register a CAGR of 7.7% over the forecast period, as it will be valued at US$ 254.4 Million by 2023 end.
The increasing automation in inspection services will provide surge for inspection robots sales says a Fact.MR analyst
Shaping the future of 3D metrology is now possible through the use of robotic technology. Introduced robot-based quality control using laser radar technology to provide comprehensive shape and geometry data such as trimmings, hole patterns, and bent edges, from metal sheet part to vehicle side panel sizes directly can be provided using such advanced technology.
Market players are developing constructive collaboration with the inspection service providers to maintain the consistency in the demand and limit the demand-supply gap. Competitive pricing is the primary strategy adopted by market players to stay ahead in the highly dynamic market.
These insights are based on a report on Inspection Robot Market by Fact.MR.
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