LONDON–(BUSINESS WIRE)–Aug 12, 2020–
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)
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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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Inspection Robots Market 2020-2024: Segmentation
Inspection Robots Market is segmented as below:
- End-user
- Oil And Gas
- Petrochemicals
- Food and Beverages
- Others
- Type
- Geographic Landscape
- APAC
- Europe
- MEA
- North America
- South America
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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
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focuses 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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SOURCE: Technavio Research
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PUB: 08/12/2020 06:00 AM/DISC: 08/12/2020 06:00 AM
