Published Date : May 15, 2017
ALBANY, New York, May 15, 2017 – The global inspection robots market has been envisioned by a report added by MarketResearchReports.biz to advance at a CAGR of 16.68% for the forecast period 2017–2021. The report bears the title “Global Inspection Robots Market 2017–2021.” The benefits of positive cash flow generation and achieving a high return of investment (ROI) have been prognosticated to be key for driving the growth of the global inspection robots market. Although end users might require to make a considerably high one-time investment, the operational advantages of using inspection robots are expected to be priceless for most businesses. This report has also shed light on other significant factors of the global inspection robots market.
Inspection robots, which are part of the industrial robots family, find application in a wide range of sectors such as food and beverage, electronics and electrical, and automotive operating on a global platform. The need for automation for achieving operational efficiency and manufacturing grander quality products has been anticipated to bode well for the demand growth in the world inspection robots market.
Other industries such as food and beverage, petrochemical, and oil and gas could adopt inspection robots at a telling rate. Besides ensuring the compliance of products with desired quality standards, most industries employ inspection robots to ensure streamlined and smooth execution of their business processes. Previously, the manual inspections carried out by most industries fell short of scrutinizing and detecting anomalies or deviations in existing processes.
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However, expensive installation and system engineering costs could deter the growth of the international inspection robots market. Nevertheless, industry trends such as miniaturization, decline in power requirement, and longer service life have been predicted to offer some profit-making opportunities for players in the international inspection robots market. Moreover, inspection robots could reduce labor and semi-skilled labor costs while providing a superior profit margin and operational excellence to end users.
The recovery in the oil and gas sector of the Europe, the Middle East and Africa (EMEA) region foreseen to take shape in the latter years of the forecast period has been prophesied to propel the growth of the worldwide inspection robots market. Robust petrochemical sector and telling adoption rate in the oil and gas industry could augur well for the EMEA inspection robots market.
Universal Robots, Inuktun Services, Honeybee Robotics, GE Inspection Robotics, and AETOS are foretold to be the leading vendors in the worldwide inspection robots market. In a competitive environment that bears the presence of a large number of system integrators and robotic solution providers, players could focus on manufacturing application-specific robotic systems. This might help them to gain an upper hand over other players in the market. However, the worldwide inspection robots market is projected to entertain a relatively low count of original equipment manufacturers.
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