NEW YORK, June 15, 2022 /PRNewswire/ -- Technavio has been monitoring the Inspection Robots Market size and it is expected to grow by USD 8.23 billion at a CAGR of almost 28.9% during the forecast period. The report offers an up-to-date analysis of the current market scenario, latest trends and drivers, and the overall market environment.
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 advantages of robotic inspection over manual inspection has been instrumental in driving the growth of the market. However, need for significant initial investment might hamper market growth.
To make the 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.
For more insights on YOY and CAGR, Read our latest Sample Report
Inspection Robots Market Segmentation
In the oil and gas industry, the application of mobile automation and fully autonomous inspection technologies has resulted in significant improvements in the monitoring of essential refinery systems and components. This has resulted in an increase in overall production efficiency and a reduction in machinery downtime, both of which are contributing to the global inspection robots market in the oil and gas industry's revenue generation.
- 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 sample: https://www.technavio.com/talk-to-us?report=IRTNTR40023
Inspection Robots Market Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. Our inspection robots market report covers the following areas:
- Inspection Robots Market size
- Inspection Robots Market trends
- Inspection Robots Market industry 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.
Inspection Robots Market Vendor Analysis
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
- 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.
Find additional highlights on the growth strategies adopted by vendors and their product offerings, Read our Sample Report.
Inspection Robots Market Key Highlights
- CAGR of the market during the forecast period
- 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
Do reach out to our analysts for more customized reports as per your requirements. Speak to our Analyst now!
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Inspection Robots Market Scope | |
Report Coverage | Details |
Page number | 120 |
Base year | 2020 |
Forecast period | 2021-2025 |
Growth momentum & CAGR | Accelerate at a CAGR of 28.9% |
Market growth 2021-2025 | $ 8.23 billion |
Market structure | Fragmented |
YoY growth (%) | 24.92 |
Regional analysis | Europe, APAC, North America, MEA, and South America |
Performing market contribution | Europe at 40% |
Key consumer countries | US, Japan, China, Germany, and UK |
Competitive landscape | Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled | 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. |
Market dynamics | Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview | If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Table Of Contents :
1 Executive Summary
2 Market Landscape
- 2.1 Market ecosystem
- Exhibit 01: Parent market
- Exhibit 02: Market characteristics
- 2.2 Value chain analysis
- Exhibit 03: Value chain analysis: Industrial machinery market
3 Market Sizing
- 3.1 Market definition
- Exhibit 04: Offerings of vendors included in the market definition
- 3.2 Market segment analysis
- Exhibit 05: Market segments
- 3.3 Market size 2020
- 3.4 Market outlook: Forecast for 2020 - 2025
- Exhibit 06: Global - Market size and forecast 2020 - 2025 ($ million)
- Exhibit 07: Global market: Year-over-year growth 2020 - 2025 (%)
4 Five Forces Analysis
- 4.1 Five forces summary
- Exhibit 08: Five forces analysis 2020 & 2025
- 4.2 Bargaining power of buyers
- Exhibit 09: Bargaining power of buyers
- 4.3 Bargaining power of suppliers
- Exhibit 10: Bargaining power of suppliers
- 4.4 Threat of new entrants
- Exhibit 11: Threat of new entrants
- 4.5 Threat of substitutes
- Exhibit 12: Threat of substitutes
- 4.6 Threat of rivalry
- Exhibit 13: Threat of rivalry
- 4.7 Market condition
- Exhibit 14: Market condition - Five forces 2020
5 Market Segmentation by End-user
- 5.1 Market segments
- Exhibit 15: End user - Market share 2020-2025 (%)
- 5.2 Comparison by End user
- Exhibit 16: Comparison by End user
- 5.3 Oil and gas - Market size and forecast 2020-2025
- Exhibit 17: Oil and gas - Market size and forecast 2020-2025 ($ million)
- Exhibit 18: Oil and gas - Year-over-year growth 2020-2025 (%)
- 5.4 Petrochemicals - Market size and forecast 2020-2025
- Exhibit 19: Petrochemicals - Market size and forecast 2020-2025 ($ million)
- Exhibit 20: Petrochemicals - Year-over-year growth 2020-2025 (%)
- 5.5 Food and beverages - Market size and forecast 2020-2025
- Exhibit 21: Food and beverages - Market size and forecast 2020-2025 ($ million)
- Exhibit 22: Food and beverages - Year-over-year growth 2020-2025 (%)
- 5.6 Others - Market size and forecast 2020-2025
- Exhibit 23: Others - Market size and forecast 2020-2025 ($ million)
- Exhibit 24: Others - Year-over-year growth 2020-2025 (%)
- 5.7 Market opportunity by End user
- Exhibit 25: Market opportunity by End user
6 Market Segmentation by Type
- 6.1 Market segments
- Exhibit 26: Type - Market share 2020-2025 (%)
- 6.2 Comparison by Type
- Exhibit 27: Comparison by Type
- 6.3 ROVs - Market size and forecast 2020-2025
- Exhibit 28: ROVs - Market size and forecast 2020-2025 ($ million)
- Exhibit 29: ROVs - Year-over-year growth 2020-2025 (%)
- 6.4 Autonomous robots - Market size and forecast 2020-2025
- Exhibit 30: Autonomous robots - Market size and forecast 2020-2025 ($ million)
- Exhibit 31: Autonomous robots - Year-over-year growth 2020-2025 (%)
- 6.5 Market opportunity by Type
- Exhibit 32: Market opportunity by Type
7 Customer landscape
8 Geographic Landscape
- 8.1 Geographic segmentation
- Exhibit 34: Market share by geography 2020-2025 (%)
- 8.2 Geographic comparison
- Exhibit 35: Geographic comparison
- 8.3 Europe - Market size and forecast 2020-2025
- Exhibit 36: Europe - Market size and forecast 2020-2025 ($ million)
- Exhibit 37: Europe - Year-over-year growth 2020-2025 (%)
- 8.4 APAC - Market size and forecast 2020-2025
- Exhibit 38: APAC - Market size and forecast 2020-2025 ($ million)
- Exhibit 39: APAC - Year-over-year growth 2020-2025 (%)
- 8.5 North America - Market size and forecast 2020-2025
- Exhibit 40: North America - Market size and forecast 2020-2025 ($ million)
- Exhibit 41: North America - Year-over-year growth 2020-2025 (%)
- 8.6 MEA - Market size and forecast 2020-2025
- Exhibit 42: MEA - Market size and forecast 2020-2025 ($ million)
- Exhibit 43: MEA - Year-over-year growth 2020-2025 (%)
- 8.7 South America - Market size and forecast 2020-2025
- Exhibit 44: South America - Market size and forecast 2020-2025 ($ million)
- Exhibit 45: South America - Year-over-year growth 2020-2025 (%)
- 8.8 Key leading countries
- Exhibit 46: Key leading countries
- 8.9 Market opportunity by geography
- Exhibit 47: Market opportunity by geography ($ million)
9 Drivers, Challenges, and Trends
- 9.1 Market drivers
- 9.2 Market challenges
- Exhibit 48: Impact of drivers and challenges
- 9.3 Market trends
10 Vendor Landscape
- 10.1 Overview
- Exhibit 49: Vendor landscape
- 10.2 Landscape disruption
- Exhibit 50: Landscape disruption
- Exhibit 51: Industry risks
11 Vendor Analysis
- 11.1 Vendors covered
- Exhibit 52: Vendors covered
- 11.2 Market positioning of vendors
- Exhibit 53: Market positioning of vendors
- 11.3 Cognex Corp.
- Exhibit 54: Cognex Corp. - Overview
- Exhibit 55: Cognex Corp. - Business segments
- Exhibit 56: Cognex Corp. - Key news
- Exhibit 57: Cognex Corp. - Key offerings
- 11.4 Eddyfi NDT Inc.
- Exhibit 58: Eddyfi NDT Inc. - Overview
- Exhibit 59: Eddyfi NDT Inc. - Product and service
- Exhibit 60: Eddyfi NDT Inc. - Key news
- Exhibit 61: Eddyfi NDT Inc. - Key offerings
- 11.5 Ensign-Bickford Industries Inc.
- Exhibit 62: Ensign-Bickford Industries Inc. - Overview
- Exhibit 63: Ensign-Bickford Industries Inc. - Product and service
- Exhibit 64: Ensign-Bickford Industries Inc. - Key offerings
- 11.6 FARO Technologies Inc.
- Exhibit 65: FARO Technologies Inc. - Overview
- Exhibit 66: FARO Technologies Inc. - Business segments
- Exhibit 67: FARO Technologies Inc. - Key offerings
- Exhibit 68: FARO Technologies Inc. - Segment focus
- 11.7 General Electric Co.
- Exhibit 69: General Electric Co. - Overview
- Exhibit 70: General Electric Co. - Business segments
- Exhibit 71: General Electric Co. - Key news
- Exhibit 72: General Electric Co. - Key offerings
- Exhibit 73: General Electric Co. - Segment focus
- 11.8 Groupe Gorgé
- Exhibit 74: Groupe Gorgé - Overview
- Exhibit 75: Groupe Gorgé - Business segments
- Exhibit 76: Groupe Gorgé - Key news
- Exhibit 77: Groupe Gorgé - Key offerings
- Exhibit 78: Groupe Gorgé - Segment focus
- 11.9 IPG Photonics Corp.
- Exhibit 79: IPG Photonics Corp. - Overview
- Exhibit 80: IPG Photonics Corp. - Business segments
- Exhibit 81: IPG Photonics Corp. - Key offerings
- 11.10 Mistras Group Inc.
- Exhibit 82: Mistras Group Inc. - Overview
- Exhibit 83: Mistras Group Inc. - Business segments
- Exhibit 84: Mistras Group Inc. - Key news
- Exhibit 85: Mistras Group Inc. - Key offerings
- Exhibit 86: Mistras Group Inc. - Segment focus
- 11.11 TechnipFMC Plc
- Exhibit 87: TechnipFMC Plc - Overview
- Exhibit 88: TechnipFMC Plc - Business segments
- Exhibit 89: TechnipFMC Plc – Key News
- Exhibit 90: TechnipFMC Plc - Key offerings
- Exhibit 91: TechnipFMC Plc - Segment focus
- 11.12 Teradyne Inc.
- Exhibit 92: Teradyne Inc. - Overview
- Exhibit 93: Teradyne Inc. - Business segments
- Exhibit 94: Teradyne Inc. - Key news
- Exhibit 95: Teradyne Inc. - Key offerings
- Exhibit 96: Teradyne Inc. - Segment focus
12 Appendix
- 12.1 Scope of the report
- 12.2 Currency conversion rates for US$
- Exhibit 97: Currency conversion rates for US$
- 12.3 Research methodology
- Exhibit 98: Research Methodology
- Exhibit 99: Validation techniques employed for market sizing
- Exhibit 100: Information sources
- 12.4 List of abbreviations
- Exhibit 101: List of abbreviations
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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