ID: MRFR/SEM/4521-HCR | February 2021 | Region: Global | 100 pages
Automated Optical Inspection System Market Size is expected to reach USD 1,188 million by 2023 registering a CAGR of 17% during the forecast period. This technology is a crucial part of the production line. It is a system that can inspect electronic parts and assemblies. It helps to certify that the product manufactured does not have faults. Only high-quality electronic parts will pass the inspection system. It is an integral part of the quality control segment of the manufacturing industry. Real-time inspection is now possible for the manufacturing units through the automated optical inspection system.
The system offers plenty of benefits to the industry. There is an increase in volumes and more development of any manufacturing unit with the help of this technology. The features of the inspection system are pattern matching, statistical matching and template matching. The system assists to find any missing parts or damaged parts in the electronic devices. The inspection of this system is considered reliable. The printed circuit boards in many electronic products have an accurate inspection from the system. The growth of industries will positively affect the Automated Optical Inspection System Market. Also, the value of the automated optical inspection system market will reach an impressive amount in the forecast period.
Plenty of markets are facing challenges due to the outbreak of covid 19. The Automated Optical Inspection System Market is facing a decline in demand in this period. The supply of the hardware is restricted during the pandemic. Due to lockdowns, the supply chain is disrupted. The deployment of new technologies in industries is reducing. Especially, the year 2017 has caused plenty of revenue losses and less demand for the automated optical inspection system market.
The global economic crisis adds more losses to the market. The work from home activities and fewer industrial activities is causing this declining trend. The operation issues of the market are expected to be temporary. Also, less production rate of the market will not continue in upcoming years. The demand will significantly increase for the automated optical inspection system market in the forecast period.
The massive demand for consumer electronics is the crucial driver of the automated optical inspection system market. The strong consumer base for computers, phones, keyboards, cameras and microphones is surging the demand. Consumer electronics offer convenience for the users. These technologies enhance the lifestyle of individuals. Due to the inclination of buyers to purchase innovative electronics need for more inspection is rising. The increasing disposable income of customers is also boosting the automated optical inspection system market demand. Due to this, the number of customers purchasing these technologies has increased.
It leads to more operation of the automated optical inspection system. Further, the optical inspection system is highly beneficial for any manufacturing firm. With the use of these systems, the labour costs and efficiency in industries is rising. Quality control staff may require payment and subsidies from the company. However, with the use of automated optical inspection systems, the expenditure of industries reduces. Further, the efficiency is high as the system can inspect many numbers of products within a time. The many benefits of the optical inspection system are escalating the overall demand.
The emergence of smart technology is creating exceptional growth opportunities for the automated optical inspection system market. Today, the demand for a smart watch, smart TV, Smartphone, the laptop is tremendous. The adoption of these technologies is widespread in plenty of regions. Further, the integration of IoT is proving beneficial to the consumer electronics market. The manufacturing of these IoT based and smart devices require high-end inspection. Advanced inspection is required to offer the best quality products to the customers.
Due to this requirement, many industries will adopt the automated optical inspection system. Most of these devices come with PCB. It is suitable for inspection by an optical system. The automated optical inspection system will be considered a reliable source to certify and check smart consumer electronics. The development in the consumer electronic market will bring favourable opportunities in the automated optical inspection system market. These market opportunities will lead to more revenue rates for the market. Also, the massive expansion will happen during the 2023 forecast period.
The possibilities of a false call rate are a restraining factor of the automated optical inspection system market. The AOI is an image-based system that can cause false rate issues for the market. To inspect any electronic parts or products the AOI system is fed with certain algorithms. Also, the system is uploaded with images of the defective product. It helps the machine to distinguish between the good and poorly built electronic parts or products.
In case, the machine is uploaded with false images, then the whole inspection process can go wrong. In such instances, the inspection is repeated by human intervention. These technical difficulties can consume the time of the industry. Due to this, the productivity of the market is decreased. All these factors can restraint the demand and adoption of the automated optical inspection system.
The need for complex hardware and its high price is a significant challenge in the automated optical inspection system market. The advancements in the automatic optical inspection system are high during this period. The miniaturization of electronic parts and complex PCB leads to more development in the AOI market.
The hardware of the AOI is more complex and costly. Today, many AOI systems include high-end cameras and high defection to capture accurate images of electronic components. These developments in the system come with high costs. Due to the cost and high hardware requirements, many end-users hesitate to adopt the technology. These factors can cause a decline in the overall automated optical inspection system market.
The Automated Optical Inspection System Market Trends remain positive in the forecast. Several factors contribute to market growth. The crucial drivers such as high demand from the consumer electronics industry are advantageous to the overall market. Beneficial features of the system render more demand in the forecast period.
However, more possibility of the false call can hamper the demand for the automated optical inspection system market. Also, the high cost of the technology is restricting the expansion of the market. Fortunately, the growth of smart devices will have a positive impact on the AOI market. These factors keep the growth rate of the AOI market steady in 2023.
Asia pacific is the crucial regional player of the AOI market. It is a region responsible for high Automated Optical Inspection System Market Share. The countries such as China, Japan and India are the largest producers of PCB.
Through the AOI the inspection is faster and better for the industries. Also, for innovative products and electronics, the AO is highly suitable. The less labour cost of using AOI is advantageous for the market scenario in Asia pacific. It is a region that will mark the highest predictability in the forecast period.
Elements of AOI
The key regional players of the automated optical inspection market are Asia Pacific, Europe and North America. Asia Pacific region has the highest demand for consumer electronic products. It creates more requirements for the AOI system. The efficiency, fewer labour costs and better inspections are benefits experienced through AOI systems.
Further, North America is the next large region with high demand. The presence of key players creates more development in the AOI market. Also, efficiency and productivity is more in industries through technology. North America is a region with high investment for the AOI systems. Also, Europe is witnessing moderate growth in the market. The expansion rate of the market is high in emerging markets such as the Middle East and Latin America. These regional players will favourable changes in the overall market.
The key players of the automated optical inspection system market are
|Market Size||USD 1.188 Million (2027)|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||By Component, by Technology, by Application|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Camtek Ltd. (Israel), Nordson Corporation (U.S.), Orbotech Ltd. (Israel), Saki Corporation (Japan), CyberOptics Corporation (U.S.), Daiichi Jitsugyo Co., Ltd. (Japan), Test Research Inc. (Taiwan), Viscom AG (Germany), AOI Systems (U.K), Goepel Electronic GmbH (Germany), Machine Vision Products (U.S.), Mirtec Corporation (U.S.), and Vi Technology (France)|
|Key Market Opportunities||Advancements in the internet of things and industry 4.0 are further expected to pose as an opportunity for the growth of automated optical inspection system market.|
|Key Market Drivers||Increasing preference for high quality printed circuit boards used in the devices for the default free applications is one major factor driving the growth of automated optical inspection system market.|
Frequently Asked Questions (FAQ) :
Global automated optical inspection system market is projected to grow at approximately 11% CAGR during the assessment period (2021 -2027).
The valuation of the global automated optical inspection system market is estimated to increase to USD 46.85 BN by the end of 2027.
Increasing preference for high quality printed circuit boards used in the devices for the default free applications and benefits that AOI systems offer, such as reduction in manpower and labor costs and increased throughput per machine are tailwinds pushing the growth of the global automated optical inspection system market.
Nordson Corporation (U.S.), Camtek Ltd. (Israel), Orbotech Ltd. (Israel), CyberOptics Corporation (U.S.), Saki Corporation (Japan), Daiichi Jitsugyo Co., Ltd. (Japan), Viscom AG (Germany), Test Research Inc. (Taiwan), AOI Systems (U.K), Machine Vision Products (U.S.), Goepel Electronic GmbH (Germany), Mirtec Corporation (U.S.), and Vi Technology (France), are some of the top players operating in the global automated optical inspection system market.
The Asia Pacific region is expected to hold the highest market share in the global automated optical inspection system market.