Market Challenges And Opportunities

High initial capital and social unacceptance owing to significant loss of human jobs are expected to be major challenges of the global inspection robotics market

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.

Remotely operated vehicles major growth drivers of the global inspection robotics market

Remotely operated vehicles are tethered by cables and can be controlled through central control unit. High utilization of these systems in surveillance and examination operations is expected to be the major growth driver for this market. However, autonomous solutions are increasingly gaining popularity, owing to their ease of utilization, and the segment is expected to witness highest growth rate over the forecast period. On the basis of application, oil & gas industry segment dominated the market, owing to its mission critical applications and requirement of accurate real time operation monitoring conducive to ensure optimal productivity.