Market Overview

Robots have found extensive applications for automating several repetitive industrial 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 inspection robotics market. Some of the major applications of these systems include inspection of water pipelines, high voltage transmission lines, bridges, and dams.

Better production quality assessment in industry critical applications, specifically that including aerospace and oil & gas exploration form the basis of their applications. Introduction of human errors in these processes can threaten loss of million dollars or endanger multiple human lives. These applications for high accuracy are expected to garner consistent demands over the following few years. 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 will provide considerable growth opportunities for the global inspections robotics market.

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Market Dynamics

Generic robots were attributed with operations in specific area at particular time owing to lack of appropriate vision systems. Incorporation of vision sensors, cameras, and software that can control the operation of these automated systems has led to significant increase in the application of these systems. 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.

Owing to its 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, will also present considerable growth challenge. 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.

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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 among others.

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