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Inspection Robots Market Expected To Grow At A Cagr Of 17.3% During The Forecast Period From 2018

By Author: Chakresh Thakur
Total Articles: 490

According to a new market research report published by Credence Research “Inspection Robots Market (Type – Autonomous and Remotely Operated Vehicles (ROVs); End-use Industry – Oil & Gas, Petrochemicals, Utilities, Food & Beverages and Automotive) – Growth, Future Prospects and Competitive Analysis, 2018 – 2026”, the global inspection robots market expected to grow at a CAGR of 17.3% during the forecast period from 2018 to 2026.

Browse the full report at https://www.credenceresearch.com/report/inspection-robots-market

Market Insights

Inspection robots, over the years, have emerged as an important tool for inspecting locations that are difficult or dangerous to access. As compared to current methods of inspection, inspection robots have proved to be significantly beneficial. Moreover, the fact that these robots can assist human inspectors round the clock and operate in extreme and harsh conditions has further led to its increased adoption across various end-use industries such as oil & gas, petrochemicals and utilities among others.

One of the most prominent factors aiding the inspection robots market growth is the fact that the availability of skilled labor has been a cause of concern in recent years. In addition, the process of hiring, training and retaining such employees is a costly affair, a factor further complimenting the demand growth for inspection robots. Moreover, the implementation of inspection robots greatly improves the operational efficiency and at the same time reduces labor costs. This factor enables business to generate positive cash flow by attaining a better return on investment.

Automation in industries such as automotive, food and beverages and utilities has significantly reduced manual inspection. This move on the part of industries is directed towards improving the operational efficiency. Minimization of anomalies and deviations in processes forms a critical aspect in industries such as oil & gas, petrochemical and food & beverages. These industries in order to improve quality standards and enable efficient and smooth running of processes, are increasingly adopting inspection robots.

As per recent trends, it has been witnessed that there has been a growing focus towards making pipe inspection inherently safer. Pipe inspection robots in this context, are a perfect solution to ensure workers safety and at the same time ensuring that the job gets done. The advantages of pipe inspection robots can be understood from the fact that it is capable of performing the most tedious and dangerous tasks, thus restricting the human efforts to only apply the fix once the problem is diagnosed.

Some of the major players operating in the market include General Electric Company, Aetos Group, Inuktun Services Ltd., Honeybee Robotics, Universal Robots A/S, Genesis Systems Group, Alstom Inspection Robotics, JH Robotics, Inc., LEO Robotics and Superdroid Robots, Inc. among others.

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