Automated Optical Inspection System Market Analysis, Growth, Share, Trends, Forecast to 2030
Automated Optical Inspection System Market Size was valued at USD 657.1 million in 2021. The Automated Optical Inspection System market industry is projected to grow from USD 798.6 million in 2022 to USD 2,898.2 million by 2030, exhibiting a compound annual growth rate (CAGR) of 17.5% during the forecast period (2022 - 2030). The COVID-19 pandemic and its effects on the market are discussed in great detail.
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By component, the market is divided into software and system. The system segment is further segmented into camera systems, lighting systems, and computer systems.
Based on type, the market is bifurcated into 2D AOI systems and 3D AOI systems. The former is expected to display a strong growth rate over the forecast period owing to heavy demand for high-quality electronic components. Developments in software interfaces and reduction in inspection cycle times can bode well for the segment.
By technology, the market is segmented into inline AOI systems and offline AOI systems.
Based on the application, the market is segmented into telecommunication, medical devices, aerospace & defense, automotive, consumer electronics, industrial electronics, and others. The automotive segment is likely to exhibit a strong growth rate during the forecast period in the automated optical inspection system market. This is credited to integration of consumer electronics in the automotive sector. On the other hand, the telecommunication application can be highly lucrative owing to companies planning to increase the capacity of routers, servers, and satellite systems.
Orbotech Ltd., Machine Vision Products, Test Research Inc., Goepel Electronic GmbH, CyberOptics Corporation, Mirtec Corporation, Saki Corporation, Viscom AG, Camtek Ltd., AOI Systems, Vi Technology, Daiichi Jitsugyo Co., Ltd., and Nordson Corporation are key players of the global automated optical inspection system market. Establishment of new plants and investments for modernization of equipment are major strategies of players to sustain their market position.
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The global automated optical inspection system market is expected to expand at 4.8% CAGR over the forecast period owing to the increased quality standards for printed circuit boards. Increased accuracy, reduction in errors, and low volume of customer claims are advantages of AOI systems. Increased automation in manufacturing is predicted to facilitate future market demand. Integration of new features such as wireless connectivity, Bluetooth, voice assistance, and touch screens can induce the demand for automated optical inspection systems. Stringent regulations laid down by the Institute of Printed Circuits (IPC) for maintaining quality of components and dimensional accuracy can bode well for the market.
The COVID-19 pandemic had negatively impacted the automated optical inspection system industry. The delays in production had caused a loss of revenue to the market with major semiconductor companies withholding payments. But advances in miniaturization of components and demand for electronics in the automotive sector can offer new growth opportunities after the passing of the pandemic. Moreover, high frequency of false call rates and complexities in programming can be major challenges of the market.
Aurora Circuit, a prime manufacturer of PCBs in the U.S., has acquired the Galaxy automated optical inspection machine for detecting undersized and oversized defects and contaminations.
North America, Europe, Asia-Pacific (APAC), and Rest of the World (RoW) are regions considered for the global automated optical inspection system market.
APAC is estimated to dominate the market owing to emphasis on high quality standards, rapid implementation of latest technologies, and a strong infrastructure for production. The demand for AOI systems in aerospace and defense sectors can drive the regional growth. Presence of electronics manufacturers in China, Taiwan, and Japan coupled with a skilled laborforce can boost market demand.
North America followed APAC in terms of demand due to need for faster electronic products and smart devices. High disposable income levels of customers and a large market for customer electronics can induce demand for the automated optical inspection system market.
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