Optical Sorter Market Research Report - Forecast to 2027

Optical Sorter Market Research Report – By Type (Near-Infrared Sorting System), Platform (Belt), Application (Food) and Region - Forecast Till 2027

ID: MRFR/SEM/4276-HCR | February 2021 | Region: Global | 100 pages

Optical Sorter Market Overview


The optical sorter market is expected to grow at a higher CAGR of 10% in the global market during the forecasted period to account for a higher market value of approximately USD 2 billion by the end of the forecasted period (2017-2023).


Using laser beams and a camera, the process of sorter solid products with a set of a dedicated automated system is called optical sorter. This automated sorter helps in sorter several food items like seafood, meat, grains nut, fruit, confectionery, coffee, and agricultural seeds. Not only food items, but it also helps in sorter recycling items like paper, metal, organic waste, plastic, and others coupled with mining materials like precious metals and industrial minerals. Using this technique of sorter results in a reduction of labour costs.


Global Optical Sorter Market 


Optical Sorter Market


Source: MRFR Analysis


COVID 19 Analysis


The global pandemic of COVID 19 has affected a major chunk of the population. Many people have lost their livelihood because of this global pandemic. It has affected the dynamics and growth of several industries. During the lockdown situation, operational activities of various end-user industries were halted which resulted in a demand shrink for the optical sorter market which further leads to decreased sales revenue. The supply chain networks were also disrupted which lead to a decline in profit margin.


However, the optical sorter market is expected to recover from this global pandemic by the end of the third quarter of the coming year by properly strategizing according to the needs of the market.


Optical Sorter Market Dynamics


Drivers


Numerous factors drive the market demand in the global market. The growth of Artificial Intelligence in almost all industrial segments along with various end-user industries drives the market demand in the global market during the forecasted period. Moreover, the presence of various other advanced technologies helps in smooth operations of automated sorter systems which result in higher market growth during the review period.


Opportunities


The rise in demand for optical sorters market all across the globe. The growing need for reducing processing time coupled with removing delivery time creates more market demand in the global market during the forecasted period. Unlike manual sorter, it is objective and consistent. Moreover, it helps in maximizing the yield by improving product quality and reduction in labor cost and hence provides various growth opportunities during the forecasted period in the global market. Ongoing extensive research also helps in creating growth opportunities.


Restraints


Though the optical sorter market is growing tremendously in the global market, some factors restrict the market growth. Since this automated sorter system comes under advanced technologies, these are priced at a premium and as a result not afforded by all which hampers the market growth in the global market. Its high initial cost does not allow various end-users to use it under controlled budgets.


Value Chain Analysis


The optical sorter market is growing at an incredible rate globally due to various benefits associated with it. It is a much more efficient way of sorter when compared with manual sorting. Also using advanced technology for sorters results in more accuracy and productivity. This sorter technique is versatile as it is used in various end-user industries be it food processing industries, recyclable items industry, or mining industry.


Optical Sorter Market Segmentation


The optical sorter market has been divided all across the globe based on type, application, platform, and region.


Based on the Type


The market has been divided all across the globe based on the type into hyperspectral cameras, near-infrared sorting systems, combined sorters, lasers, cameras, and many others.


Based on the Application


The market has been divided all across the globe based on the application into the recycling industry, mining industry, food processing industry, and many others.


Based on the Platform


The market has been divided all across the globe based on the platform into the hybrid platform, lane platform, freefall platform, belt platform, and many others.


Based on the Region


The market has been divided all across the globe based on the region into the North American region, European region, Asia-Pacific region, Latin American region, and the Middle East and African region.


Optical Sorter Market Regional Analysis


The optical sorter market has been divided all across the globe based on the region into North American region, European region, Asia-Pacific region, Latin American region, and the Middle East and African region. The largest market share in the optical sorter market all across the globe is held by the North American region owing to the increasing use of automated sorting technology of food processing which drives the market demand to this region.


The second-largest market share in the optical sorter market all across the globe is held by the European region owing to increasing advancement in technology and sorting technology being one of them. The presence of well-established technology infrastructure is another contributing factor.


Being the fastest-growing region, the third-largest market share in the optical sorter market is held by the Asia-Pacific region owing to the presence of highly populated countries like China and India which drives the market demand to this region. Moreover, Japan is one of the leading manufacturers of optical sorters and hence it drives the market demand. The presence of various manufacturing companies coupled with higher per capita disposable income creates more demand in this region during the forecasted period.


The least market share is held by the Latin American region and the Middle East and African region owing to the presence of low infrastructure in both these regions. Low per capita disposable income is another contributing factor that restricts the market growth in these regions.


Optical Sorter Market Competitive Landscape


The most prominent major key players in the optical sorter market all across the globe are mentioned below:



  • Raytec Vision S.p.A. (Italy)

  • STEINERT Global (Germany)

  • CP Manufacturing Inc. (US)

  • Pellence ST (France)

  • Sesotec GmbH (Germany)

  • National Recovery Technologies (US)

  • Cimbria Heid GmbH (Denmark)

  • Buhler Group (Switzerland)

  • NEWTEC (Denmark)

  • GREEFA (Netherlands)

  • TOMRA Systems ASA (Norway)

  • Allgaier Werke Group (Germany)

  • SATAKE Group (US)

  • BINDER GmbH (Austria)

  • Key Technologies Inc. (US)


These major key players use various strategies to sustain their market position in the optical sorter market in the global market by going for mergers, and acquisitions, by collaborating, establishing a partnership, developing a new production process, setting up a new joint venture, developing a new product line, innovation in the existing product, and many others to expand their customer base in the untapped market of the optical sorter all across the globe.


Recent Developments



  • In April 2017, a new product of robot sorting system has been launched by Bulk Handling Systems Company which has Max – Artificial Intelligence Technology and system installed. This system will help in identifying recyclables and recovery.

  • In October 2017, a new product the CIRRUS FiberMax has been launched by an optical sorter division of the CP group called MSS Inc. This integrated next-generation technology provides increased speed, sensing capability, and flexibility.

  • In July 2017, the new product Digital Sorters have been launched after the expansion was made by Key Technology Inc. with VERYX. This will help in removing foreign material and it is more accurate when compared with manual labor.

  • Buhler Group (Switzerland) is spending a huge sum of money on research and development to get an upper edge over its competitors. This will help the company in increasing its sales volume.

  • All the major key players are highly investing in mergers and acquisitions, new product launches, and joint ventures.


Report Overview


This global optical sorter market research report consists of the following elements mentioned below:



  • Market Overview

  • COVID 19 Analysis

  • Market Dynamics

  • Value Chain Analysis

  • Market Segmentation

  • Regional Analysis

  • Competitive Landscape

  • Recent Developments


This market research report contains factors that drive the growth of the optical sorter market in the global market along with the factors that restrict its growth in the global market. The opportunities available for growth in the optical sorter market during the forecasted period are mentioned. The impact of COVID 19 on the optical sorter market all across the globe is mentioned. The future growth rate in the optical sorter market during the forecasted period is estimated and mentioned.


Intended Audience


End-users, enterprise users, market research firms, consulting firms, research institutes, research organizations, technology investors, government bodies, system integrators, third-party vendors, computer graphics developers, 3D animation service providers, 3D animation vendors, optical sorter providers, and optical companies



Report Scope:
Report Attribute/Metric Details
  Market Size   USD 2 Billion (2023)
  CAGR   10% (2017-2023)
  Base Year   2019
  Forecast Period   2020-2027
  Historical Data   2018
  Forecast Units   Value (USD Billion)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   type, platform, application
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   Key Technology Inc. (U.S.), BINDER GmbH (Austria), SATAKE Group (U.S.), Allgaier Werke Group (Germany), TOMRA Systems ASA (Norway), GREEFA (Netherlands), NEWTEC (Denmark), Bühler Group (Switzerland), Cimbria Heid GmbH (Denmark), National Recovery Technologies (U.S.), Sesotec GmbH (Germany), Pellenc ST (France), CP Manufacturing Inc. (U.S.), STEINERT Global (Germany), Raytec Vision S.p.A. (Italy)
  Key Market Opportunities   The market for optical sorters in Europe is expected to witness rapid growth due to advancement in technology such as the digital sorting system which is widely used among companies.
  Key Market Drivers   Growing demand for AI is the major driver for the optical sorter market.


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Frequently Asked Questions (FAQ) :


The global optical sorter market is expected to reach USD 2 billion by 2023.

The global optical sorter market is expected to exhibit a strong 10% CAGR over the forecast period from 2017 to 2023.

Growing demand for AI is the major driver for the optical sorter market.

North America holds the largest share in the global optical sorter market.

AllgaierWerke Group, TOMRA Systems ASA, Key Technology Inc., GREEFA, National Recovery Technologies, Raytec Vision SpA, Sesotec GmbH, NEWTEC, and CimbriaHeid GmbH are among the leading players in the optical sorter market.