Inspection Robots Market – Actionable Research on COVID-19 | Benefits of Robotic Inspection to Boost the Market Growth
The global inspection robots market size is poised to grow by USD 3.72 billion during 2020-2024, progressing at a CAGR of almost 19% throughout the forecast period, according to the latest report by Technavio. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. Download a Free Sample of REPORT with COVID-19 Crisis and Recovery Analysis.
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Technavio has announced its latest market research report titled Global Inspection Robots Market 2020-2024 (Graphic: Business Wire)
Robotic inspection enables a higher level of quality assurance and quality control. It ensures the safety of the working environment as they can work in hazardous and unstable conditions. Moreover, the use of inspection robots also reduces downtime, maximizes organizational capacity, and decreases the economic impact of inspections. These benefits of robotic inspection will significantly influence inspection robots market growth over the forecast period.
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The major inspection robots market growth came from oil and gas industry segment. Robotic inspection helps in the minimization of outages at refinery plants or facilities. Moreover, these robots can easily navigate through narrow spaces within structures without being opened or disassembled. Such advantages have led to an increase in their application in the oil and gas industry. However, market growth in this sector will be slower than the growth of the market in the petrochemicals, food and beverages, and other sectors.
Europe is one of the largest markets for inspection robots. The rapid industrialization in the region that is driving the growth of the oil