Automated Optical Inspection System Market Opportunities, Revenue Analysis and - Forecasts from 2020 to 2023
Market Synopsis:
The global automated optical inspection system market is projected to mark 17% CAGR during the assessment period 2017 to 2023.
Automated optical inspection systems are visual inspection systems designed to test printed circuit board (PCB). The technology uses a camera to scan a device for failure or defects.
The rising complexities in the architecture of next-gen circuits have intensified the demand for the product. The trend is likely to influence the automated optical inspection market greatly over the next couple of years. Also, the reducing size of PCBs resonates strong growth potential for the market players. The product ensures accuracy and reliability in inspection, which is anticipated to drive the expansion of the global market in the years to come. A rise in demand is expected from end-user industries such as automotive, consumer electronics, aerospace & defense, etc. The growth of these industry verticals is prognosticated to prompt market growth in the nearby future.
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Competitive Dashboard:
Camtek Ltd. (Israel), Orbotech Ltd. (Israel), Nordson Corporation (U.S.), CyberOptics Corporation (U.S.), Saki Corporation (Japan), Daiichi Jitsugyo Co., Ltd. (Japan), Mirtec Corporation (U.S.), Viscom AG (Germany), Test Research Inc. (Taiwan), AOI Systems (U.K), Machine Vision Products (U.S.), Goepel Electronic GmbH (Germany), and Vi Technology (France) are few of the major vendors of the global automated optical inspection system market covered in this MRFR report. These players are expected to invest in technological innovations to strengthen their footholds in the market. It is, in turn, poised to intensify the competitive landscape of the automated optical inspection system market over the next couple of years. Some of the strategies anticipated to be implemented by these players in the years to come are agreements, acquisitions, collaborations, mergers, partnerships, etc.
Market Segmentation:
On the basis of component, the automated optical inspection market has been divided into software and system. The system segment is sub-segmented into lighting systems, camera systems, and computer systems.
Based on type, the global automated optical inspection market has been segmented into 2D AOI Systems and 3D AOI Systems. Among these, the 2D AOI systems segment is anticipated to witness substantial growth over the next couple of years. The growth of the segment can be attributed to the increasing demand for high-quality electronic components from end-user industries such as automotive, aerospace & defense, etc.
The global automated optical inspection market, based on technology, has been bifurcated into Inline AOI Systems and Offline AOI Systems.
By application, the automated optical inspection market has been segmented into aerospace & defense, consumer electronics, automotive, industrial electronics, telecommunication, medical devices, and others.
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Regional Analysis:
The regional study of the global automated optical inspection market is conducted on regional and country-level basis. The regions identified for the assessment of the global market are - Asia Pacific (APAC) , North America, Europe, and the Rest of the World (RoW). Asia Pacific currently holds the maximum share of the market. It is estimated to secure its pole position over the next couple of years and strike the highest CAGR across the projection period. Increasing demand for advanced electrical components from end users is poised to influence the growth of the automated optical inspection market greatly in the years to come. In addition, the rapidly developing electrical & electronics market is also anticipated to drive the growth of the regional market across the review period. North America and Europe are significant revenue pockets and are poised to trail Asia Pacific market in terms of revenue. Rising investments in advanced technologies being observed in these regions are likely to propel the expansion of the automated optical inspection market in these regions.
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