Automated Optical Inspection System Market Analysis To Reach $1,641 Billion By 2024

The overall Automated Optical Inspection (AOI) System Market is expected to grow from USD 444 million by 2018 to USD 1,641 million by 2024, at a CAGR of 24.3%. The growth of the market is propelled by the growing demand for consumer electronics, increasing need for high-quality electronic components, and demand for higher productivity by electronics manufacturing services (EMS) companies.

Market for inline AOI to grow at higher CAGR from 2018 and 2024

The AOI system market for inline AOI is expected to grow at a higher CAGR during the forecast period. Inline AOI systems offer a faster rate of PCB inspection, which is ideal for electronics manufacturing companies involved in high-volume production. Inline AOI systems can be strategically placed before or after the reflow process, depending on the requirements of manufacturers. Though the inline AOI systems are capable of faster inspection, they are difficult to program, and the manufacturers have to ensure the availability of all the resources before starting the inspection process. If resources are not available, the inline AOI systems could slow down the production line. However, in an inline AOI system, the defects can be identified quickly, and the AOI operators can immediately seize the production of inaccurate boards, thus preventing the bulk production of inaccurate boards. Hence, most of the large manufacturing companies install multiple inline AOI systems in their production lines to speed up the inspection process.

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Automotive industry to dominate AOI system market during forecast period

The automotive industry is expected to grow at the highest CAGR from 2018 to 2024. The implementation of electronic systems in automobiles has significantly increased in the past few years. The advent of new technologies such as autonomous driving, connected vehicles, electric vehicles, automotive sensors, and advanced navigation and infotainment systems has boosted the implementation of electronics in automobiles to a greater level. The growing share of electronics in automobile applications also presents a challenge for electronic manufacturers in terms of ensuring full functionality of all the components. This has increased the need for highly efficient inspection technologies in the production process. The requirement for high-quality electronic components has made the AOI systems an integral part of the automobile manufacturing.

"APAC to account for largest share of AOI system market during forecast period"

APAC is expected to account for the largest share of the AOI system market by 2018. The electronics industry in APAC has become the world-class innovation-driven hub for production on the back of the low-cost skilled labor, business-friendly environment, low production cost, and growing demand for electronic products in the region. The growth of this has contributed to the significant pace of the AOI system market pace in this region.

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