Automated Optical Inspection System Market Growth, Segmented Outlook And Overview Research by 2024

The report "Automated Optical Inspection System Market by Type (2D AOI Systems, 3D AOI Systems), Technology (Inline AOI, Offline AOI), Industry (Consumer Electronics, Telecommunications, Automotive, Medical Devices), and Region – Global Forecast to 2024" The automated optical inspection (AOI) system market is estimated to be worth USD 444 million in 2018 and is expected to reach USD 1,641 million by 2024, at a CAGR of 24.3% during 2018–2024. The major factors fueling the growth of the AOI system market include growing demand for consumer electronics, increasing need for high-quality electronic components, and demand for higher productivity by electronics manufacturing services (EMS) companies.

"2D AOI systems to lead the market by 2018"

2D AOI is the most widely used inspection technology by the EMS providers. The current most advanced 2D AOI systems are equipped with multiple ultrahigh-resolution cameras with 10–15 MP resolution, high-precision telecentric lenses, and multi-tiered lighting technology for proper illumination. These systems offer faster inspection times owing to their flexibility in the inspection process. Moreover, some defects, such as polarity of ICs and optical character recognition, can only be detected by 2D AOI systems, which makes it an ideal choice for electronic component manufacturers.

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"Rising demand for highly sophisticated and miniaturized smart gadgets drives the demand for AOI systems"

The increasing demand for small and more sophisticated electronic gadgets has driven the consumer electronics manufacturing companies to implement newer technologies into their devices. Several such new technologies include smaller passive components, powerful and power-efficient ICs, and sensors. The increasing preference for having one device with multiple functionalities has made the architecture of the modern day electronic devices, such as smartphones, laptops, and wearable devices, more complex. The increased complexity of these devices raises the demand for highly advanced AOI systems for inspection. Further, with the rise in the adoption of 3D inspection technology, the AOI systems are likely to play a vital role in maintaining high-quality standards with these complex consumer electronic devices.

"APAC to be largest market for AOI systems during forecast period"

Countries in APAC such as China, South Korea, and Japan command a majority of electronic components manufacturing. China contributes to nearly half of the global electronic production and is one of the largest exporters of electronic products in the world. Favorable government policies and low production costs create tremendous growth opportunities for multinational and start-up electronics companies in China. Under the Made in China 2025 campaign, the Chinese government aims to strengthen its domestic manufacturing capabilities. For instance, in February 2018, the municipal government of Chongqing, Tsinghua Unigroup (China), and Sino IC Capital (China) entered a strategic agreement to set up an integrated circuit (IC) investment firm with a capital of USD 15.80 billion. The joint venture will invest up to USD 100 billion in IC manufacturing bases of Tsinghua Unigroup in the next 10 years. Moreover, South Korea has a dynamic manufacturing sector, with the world-class infrastructure and highly skilled workforce. Consumer electronics and automotive are a few of the major industries contributing to the South Korean economy. As per the Korea Electronics Association, South Korea overtook Japan to be the third-largest electronics manufacturer in the world, for the first time, in 2017.

Major players involved in the AOI system market include Koh Young (South Korea), Test Research, Inc. (Taiwan), Omron (Japan), Mirtec (South Korea), Viscom (Germany), Camtek (Israel), CyberOptics (US), Daiichi Jitsugyo (Japan), Nordson (US), Orbotech (Israel), GOEPEL Electronic (Germany), Marantz Electronics (Netherlands), Machine Vision Products (US), Saki (Japan), and Vi Technology (France).

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Provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues.