Automatic Optical Inspection Market by Type and Geography - Forecast and Analysis 2020-2024

The automatic optical inspection market share is expected to increase by USD 894.39 million from 2019 to 2024, and the market's growth momentum will accelerate at a CAGR of 24%.

This automatic optical inspection market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers automatic optical inspection market segmentation by type (2D AOI systems and 3D AOI systems) and geography (APAC, North America, Europe, South America, and MEA). The automatic optical inspection market report also offers information on several market vendors, including GÖPEL electronic GmbH, Koh Young Technology Inc., Mek Europe BV, Mirtec Co. Ltd., Mycronic AB, Nordson Corp., OMRON Corp., Saki Corp., Test Research Inc., and Viscom AG among others.

What will the Automatic Optical Inspection Market Size be During the Forecast Period?

Download the Free Report Sample to Unlock the Automatic Optical Inspection Market Size for the Forecast Period and Other Important Statistics

Automatic Optical Inspection Market: Key Drivers, Trends, and Challenges

The growing use of smart manufacturing technologies is notably driving the automatic optical inspection market growth, although factors such as the rising cost pressure from demand side may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the automatic optical inspection industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Automatic Optical Inspection Market Driver

One of the key factors driving growth in the automatic optical inspection market is the rising electronics production across the world. The global demand for electronic products has increased the manufacturing activities of electronics manufacturers. The increased need for high-speed processing of huge volumes of data due to advances in the IoT has fueled the demand for advanced electronic equipment. In addition, the shift toward autonomous vehicles and electric vehicles is contributing significantly to the rising percentage of electronics content in automobiles. Emerging economies, such as India, are witnessing a tremendous rise in smartphone penetration due to low Internet charges. The growing demand for smartphones is also contributing to a rise in electronics production. The growing use of connected devices, such as smartphones and smart homes, has created the need to process and save data instantaneously in large volumes. AOI systems will play a crucial role in the manufacturing of such high-functionality electronic equipment during the forecast period.

Key Automatic Optical Inspection Market Trend

The combining 2D and 3D AOI technologies to enhance inspection coverage is a automatic optical inspection market trend that is expected to have a positive impact in the coming years. The need for AOI systems is increasing because of several technological advances, such as the use of small components, advanced component packaging, finer lead pitches, and higher PCB densities. One of the major trends witnessed in the market in focus is the combination of 2D AOI systems and 3D AOI systems. Combing these two AOI methods will result in a thorough inspection coverage. Additionally, the combination of 2D AOI systems and 3D AOI systems on a single platform achieves the highest level of quality assurance. This combination can easily overcome the challenges faced by each method, which makes this combination highly effective for the customers looking for precise defect identification. Electronics manufacturers are increasing their interest in the combination of 2D and 3D AOI systems. Technavio expects the demand for such combined AOI systems to increase during the forecast period as PCBs are becoming more compact and denser with components.

Key Automatic Optical Inspection Market Challenge

The rising cost pressure from demand side will be a major challenge for the automatic optical inspection market during the forecast period. AOI system manufacturers are subject to heavy cost pressures due to the demanding consumer base. Environment and safety standards are pressurizing equipment manufacturers to find means to comply with regulations, while not transmitting additional costs to consumers. Furthermore, consumers demand flexible and customized AOI solutions at competitive prices, which adds to the cost pressure on manufacturers. Hence, maintaining quality standards and adhering to the changing customer demand in terms of customization will be a key challenge for AOI system manufacturers during the forecast period. PCB manufacturers have started exploring means to restrict their production cost while maintaining quality standards. One such option was to outsource manufacturing to low-cost countries, such as China, South Korea, and Taiwan. However, as the cost of labor is gradually increasing in these countries, PCB manufacturers will face a challenge in maintaining low-cost production during the forecast period. This is expected to limit the growth of the market in focus.

This automatic optical inspection market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2020-2024.

Parent Market Analysis

Technavio categorizes the global automatic optical inspection market as a part of the global industrial machinery market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the automatic optical inspection market during the forecast period.

Who are the Major Automatic Optical Inspection Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

• GÖPEL electronic GmbH
• Koh Young Technology Inc.
• Mek Europe BV
• Mirtec Co. Ltd.
• Mycronic AB
• Nordson Corp.
• OMRON Corp.
• Saki Corp.
• Test Research Inc.
• Viscom AG

This statistical study of the automatic optical inspection market encompasses successful business strategies deployed by the key vendors. The automatic optical inspection market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.

Product Insights and News

• GÖPEL electronic GmbH - The company offers AOI systems for the inspection of THT components, THT solder joints, and wave-soldered SMD components in one system.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The automatic optical inspection market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Automatic Optical Inspection Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the automatic optical inspection market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

The value chain of the industrial machinery market includes the following core components:

• Raw material suppliers
• Component manufacturers
• Contractors and consultants
• System integrators
• Machine builders
• Sales and services providers

The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.

Which are the Key Regions for Automatic Optical Inspection Market?

For more insights on the market share of various regions Request for a FREE sample now!

65% of the market's growth will originate from APAC during the forecast period. China, Japan, and Taiwan are the key markets for automatic optical inspection in APAC. Market growth in this region will be faster than the growth of the market in other regions.

The strong set up of electronics production and the presence of electronic manufacturing services will facilitate the automatic optical inspection market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

What are the Revenue-generating Type Segments in the Automatic Optical Inspection Market?

To gain further insights on the market contribution of various segments Request for a FREE sample

The automatic optical inspection market share growth by the 2D AOI systems segment will be significant during the forecast period. 2D AOI systems are capable of two-dimensional measurements, such as checking board features and component features, for determining X and Y coordinates and measurements. 2D AOI systems are the most widely adopted AOI systems by electronics manufacturers. Hence, the contribution of this segment is higher than that of the other segment to the global AOI market.

This report provides an accurate prediction of the contribution of all the segments to the growth of the automatic optical inspection market size and actionable market insights on post COVID-19 impact on each segment.

Request for a FREE sample

What are the Key Data Covered in this Automatic Optical Inspection Market Report?

• CAGR of the market during the forecast period 2020-2024
• Detailed information on factors that will drive automatic optical inspection market growth during the next five years
• Precise estimation of the automatic optical inspection market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the automatic optical inspection industry across APAC, Europe, MEA, North America, and South America
• A thorough analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of automatic optical inspection market vendors

We can help! Our analysts can customize this report to meet your requirements. Get in touch