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Automated Optical Inspection System Market 2021
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Market Highlights
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.
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The global automated optical inspection system market by geography is segmented into North America, Europe, Asia Pacific, and the Rest of the World. The Asia Pacific market is expected to witness significant growth and hold the largest share of the global market during the forecast period. Major economies in the region – China, Japan, and Taiwan are anticipated to drive the growth of the automated optical inspection system market in Asia Pacific region owing to the presence of a large number of established key players such as Saki Corporation, Daiichi Jitsugyo Co., Ltd., and Test Research Inc. among others in this region. Due to sustainable and well-established economies in the region, the market is likely to show immense growth in the coming future. Additionally, the growth of the market is also attributed to increasing demand for high-quality electronic components from various industry verticals such as aerospace and defense and automotive. Major growth in demand for miniaturization of PCBs is primarily driving the growth for highly efficient AOI systems.
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.
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Automated Optical Inspection System Market Segmentation
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.
Some of the prominent players in the global automated optical inspection system market: 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) among others.
Market Research Analysis
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.
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