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Automated Optical Inspection System Market Research Report- Forecast till 2027
Global automated optical inspection system market is projected to reach USD 1,188 million at a CAGR of over 17% by the end of the forecast period 2017-2023. Increased accuracy, reduction in errors, and low volume of customer claims are advantages of AOI systems. Increased automation in manufacturing is predicted to facilitate future market demand. Integration of new features such as wireless connectivity, Bluetooth, voice assistance, and touch screens can induce the demand for automated optical inspection systems. Stringent regulations laid down by the Institute of Printed Circuits (IPC) for maintaining quality of components and dimensional accuracy can bode well for the market.
The global automated optical inspection system market is projected to witness a rapid growth during the forecast period owing to increasing demand for miniaturization of printed circuit boards across various industry verticals. Moreover, increasing transformations in the internet of things and growing demand for highly efficient AOI systems is one major factor driving the market growth.
The COVID-19 pandemic had negatively impacted the automated optical inspection system industry. The delays in production had caused a loss of revenue to the market with major semiconductor companies withholding payments. But advances in miniaturization of components and demand for electronics in the automotive sector can offer new growth opportunities after the passing of the pandemic. Moreover, high frequency of false call rates and complexities in programming can be major challenges of the market.
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The global automated optical inspection system market is segmented on the basis of the component, type, technology, and application. The application segment is further segmented into aerospace & defense, automotive, consumer electronics, industrial electronics, medical devices, telecommunication, and others. By application, the automotive application is expected to grow at the highest rate during the forecast period. The proliferation of electronics in the automotive industry has resulted in the growth of the automated optical inspection system market.
By component, the market is divided into software and system. The system segment is further segmented into camera systems, lighting systems, and computer systems.
Based on type, the market is bifurcated into 2D AOI systems and 3D AOI systems. The former is expected to display a strong growth rate over the forecast period owing to heavy demand for high-quality electronic components. Developments in software interfaces and reduction in inspection cycle times can bode well for the segment.
By technology, the automated optical inspection system market is segmented into inline AOI systems and offline AOI systems.
Based on the application, the market is segmented into telecommunication, medical devices, aerospace & defense, automotive, consumer electronics, industrial electronics, and others. The automotive segment is likely to exhibit a strong growth rate during the forecast period in the automated optical inspection system market. This is credited to integration of consumer electronics in the automotive sector. On the other hand, the telecommunication application can be highly lucrative owing to companies planning to increase the capacity of routers, servers, and satellite systems.
Asia Pacific is estimated to account for the largest share of the market and is also projected to grow at the fastest rate during the forecast period. The market in Asia Pacific is witnessing rapid growth due to advancements in technology and rise in demand for high-quality electronic components. The growth in Asia Pacific region is majorly dominated by the countries such as China, Japan, and Taiwan. The economies of the countries in this region are majorly dominated by the electronics industry. Also, the availability of cost-effective manufacturing infrastructure and skilled labor are the major factors responsible for driving the growth of automated optical inspection market in the Asia Pacific region.
Orbotech Ltd., Machine Vision Products, Test Research Inc., Goepel Electronic GmbH, CyberOptics Corporation, Mirtec Corporation, Saki Corporation, Viscom AG, Camtek Ltd., AOI Systems, Vi Technology, Daiichi Jitsugyo Co., Ltd., and Nordson Corporation are key players of the global automated optical inspection system market. Establishment of new plants and investments for modernization of equipment are major strategies of players to sustain their market position.
Aurora Circuit, a prime manufacturer of PCBs in the U.S., has acquired the Galaxy automated optical inspection machine for detecting undersized and oversized defects and contaminations.
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Automated Optical Inspection System Market Research Report: By Component (Software, System), by Technology (Inline AOI, Offline AOI), by Type (2D AOI Systems, 3D AOI Systems), by Application (Automotive, Aerospace & Defense) – Forecast till 2027
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