Market Research Future (MRFR) believes that the optical sorter market 2020 can attain a strong valuation of USD 2 billion by 2023-end. The global market is also projected to procure a CAGR of 10% from 2017 to 2023 (evaluation period). We will provide covid-19 impact analysis with the report, offering an extensive market evaluation post the coronavirus disease outbreak.
Some of the leading market vendors outlined in the MRFR study include Sesotec GmbH (Germany), NEWTEC (Denmark), BINDER GmbH (Austria), STEINERT Global (Germany), Pellenc ST (France), Bühler Group (Switzerland), Cimbria Heid GmbH (Denmark), Allgaier Werke Group (Germany), Key Technology Inc. (U.S.), TOMRA Systems ASA (Norway), SATAKE Group (U.S.), National Recovery Technologies (U.S.), CP Manufacturing Inc. (U.S.), GREEFA (Netherlands), Raytec Vision S.p.A. (Italy), to mention a few.
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Key Drivers and Main Challenges
Post the outbreak of the novel coronavirus, companies and governments worldwide are taking up various measures to safeguard lives as well as livelihoods. Emergency lockdown orders to curb the transmission rates of the pandemic have been imposed globally. This scenario post the COVID-19 outbreak has impacted the optical sorter market to some extent as well. However, market players are trying to explore new opportunities that can mitigate the impact of SARS-CoV-2, with the rising integration of artificial intelligence/AI in optical sorters. In the mining industry, sensor-based sorters and robotic sorters are being increasingly integrated with better quality machine learning capabilities to analyze the patterns within the waste stream to facilitate smarter sort.
For instance, in June 2020, TOMRA launched a new sensor-based optical sorter that helps mining companies adopt innovative methods to obtain natural elements in a resource-conserving and energy-efficient way. Although the COVID-19 impact on the global market cannot be ignored, a majority of the renowned players are trying to capture all the opportunities that have come along with the pandemic, given the rising demand for semiconductors in line with the surging use of consumer electronics following the stay at home order.
Some additional factors promoting the growth of the optical sorter market include the surge in automation across diverse industries to boost productivity coupled with the mounting need to bring down the process and delivery time within the food industry. The optical sorter industry also stands to benefit from the rising number of strict government policies and regulations pertaining to food security along with the efforts to reduce the labor costs in the food sector.
On October 10, 2017: MSS Inc., the optical sorter division of the CP Group, has launched their new product the CIRRUS FiberMax. This product is integrated with next-generation fiber sorting technology which offers operating flexibility, sensing capability, and increased speed in sorting.
On July 12, 2017: Key Technology Inc. went into the expansion with VERYX to launch their new product– Digital sorters. A digital sorter is a small chute-fed sorter which is primarily used for removing foreign material and improving the sorting accuracy by providing accurate sorting as compared to manual labor. This sorter varies in capacity from less than one metric ton (2,220 lbs.) up to five metric tons (11,000 lbs.) of product per hour.
The optical sorter market has been considered for segments namely, type, platform as well as application.
The types of optical sorters are lasers, cameras, hyperspectral cameras, near-infrared sorting system, combined sorters, and others.
The sub-segments as per platform are lane, freefall, hybrid belt, and more.
The application-dependent sections include recycling, mining, food, and others.
The key markets for optical sorter are Europe, North America, APAC or Asia Pacific, and RoW or Rest of the World.
North America is currently the worldwide market leader owing to the mounting consumption of laser object detection systems across various industries. The striking growth of the food sector in the region has resulted in a lot of pressure, in terms of efficiency, environment and productivity. Therefore, the demand for advanced optical sorters has risen exponentially in the food industry of the region. The region also houses a huge number of renowned vendors that are continuously spending on R&D activities to integrate innovative technologies in their products and launch better quality products that can help them expand their share in the regional market. To cite an instance, in February 2020, Key Technology (U.S) launched a new optical sorter for green beans. The system helps remove unrequired materials and sort the desired green beans (easy to snip) from the ones that are hard to snip to boost the overall snipping productivity.
The APAC market for optical sorter is also observing notable growth, impelled by the large-scale deployment of intelligent solutions along with the significant rise in digitalization. The rising use of the AI technology in optical sorters is leading to better features such as monitoring, automation and advanced analytics. Manufacturers in the region are focusing on creating the AI-backed sorting technology to achieve intelligent and effective solutions for various industrial processes and operations, which could work in the market’s favor. It is further projected that Japan, India and China are the fastest expanding markets in the region for optical sorters, and can gain even higher impetus during the appraisal period.
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TABLE OF CONTENTS
1 Executive Summary
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.2.1 Research Objectives
2.2.2 Assumptions & Limitations
2.3 Markets Structure
3 Market Research Methodology
3.1 Research Platform
3.2 Secondary Research
3.3 Primary Research
3.4 Forecast Model
4 Market Landscape
4.1 Porter’s Five Forces Analysis
4.1.1 Threat Of New Entrants
4.1.2 Bargaining Power Of Suppliers
4.1.3 Threat Of Substitutes
4.1.4 Bargaining Power Of Buyers
4.1.5 Segment Rivalry
4.2 Value Chain/Supply Chain Of Global Optical Sorter Market
LIST OF TABLES
Table 1 Global Optical Sorter Market: By Region, 2017-2023
Table 2 North America Optical Sorter Market: By Country, 2017-2023
Table 3 Europe Optical Sorter Market: By Country, 2017-2023
Table 4 Asia Pacific Optical Sorter Market: By Country, 2017-2023
Table 5 The The Middle East & Africa Optical Sorter Market: By Country, 2017-2023
Table 6 Latin America Optical Sorter Market: By Country, 2017-2023
Table 7 Global Optical Sorter By Type Market: By Regions, 2017-2023
LIST OF FIGURES
FIGURE 1 Global Optical Sorter Market Segmentation
FIGURE 2 Forecast Methodology
FIGURE 3 Porter’s Five Forces Analysis Of Global Optical Sorter Market
FIGURE 4 Value Chain Of Global Optical Sorter Market
FIGURE 5 Share Of Global Optical Sorter Market In 2017, By Country (In %)
FIGURE 6 Global Optical Sorter Market, 2017-2023,
FIGURE 7 Sub Segments Of Type
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