Automatic Optical Inspection Market by Type and Geography - Forecast and Analysis 2020-2024
- Published: Feb 2020
- Pages: 147
- SKU: IRTNTR41165
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The automatic optical inspection market size has the potential to grow by USD 894.39 million during 2020-2024, and the market’s growth momentum will accelerate during the forecast period because of the steady increase in year-over-year growth.
This report provides a detailed analysis of the market by type (2D AOI systems and 3D AOI systems) and geography (APAC, Europe, MEA, North America, and South America). Also, 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., and Viscom AG.
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Market Competitive Analysis
The market is fragmented, and the degree of fragmentation will remain the same during the forecast period. The key vendors in the market are focusing on various marketing strategies, including new product launches, to expand their geographical reach and increase their market shares. Nordson Corp., OMRON Corp., Saki Corp., Test Research Inc., and Viscom AG are some of the major market participants. Although the increasing adoption of smart manufacturing will offer immense growth opportunities, rising cost pressure from the demand side will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
To help clients improve their market position, this automatic optical inspection market forecast report provides a detailed analysis of the market leaders and offers information on the competencies and capacities of these companies. The report also covers details on the market’s competitive landscape and offers information on the products offered by various companies. Moreover, this automatic optical inspection market analysis report also provides information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities.
This report provides information on the production, sustainability, and prospects of several leading companies, 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
Automatic Optical Inspection Market: Segmentation by Region
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APAC accounted for the largest automatic optical inspection market share in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. The strong setup of electronics production, the presence of electronic manufacturing services, and the high economic growth potential will significantly influence automatic optical inspection market growth in this region.
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 slower than the growth of the market in North America and South America.
Automatic Optical Inspection Market: Segmentation by Type
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2D AOI systems are highly preferred by electronics manufacturers as they are cost-effective and are capable of two-dimensional measurements, such as checking board features and component features. Moreover, these systems are suitable to precisely detect defects such as missing components, loose components, and solder bridges.
Market growth in this segment will be slower than the growth of the market in the 3D AOI systems segment. This report provides an accurate prediction of the contribution of all the segments to the growth of the automatic optical inspection market size.
Automatic Optical Inspection Market: Key Drivers and Trends
Global AOI system market is driven by the growing use of smart manufacturing technologies and processes. Smart manufacturing uses advanced computer controls, which imbibe a high level of quality and adaptability in manufacturing processes. Moreover, companies operating in the electronic industry are focusing on the use of advanced manufacturing processes to address the growing complexities, as well as the compliance and customization requirements. Additionally, factors such as globalization and increasing customer expectation for high-quality products have encouraged electronics manufacturers to adopt smart manufacturing. The incorporation of advanced manufacturing processes by electronics manufacturers will significantly influence the growth of the automatic optical inspection market during the forecast period.
- The increasing focus on automating repetitive tasks in industries that require high precision is fueling the demand for robots.
- These machines help in optimizing speed, enhancing accuracy, and reducing the dependence on human labor.
- Advances in robotics have led to the development of collaborative robots, also known as cobots, which can interact with humans and also work along with them.
- Electronic manufacturers are increasingly using cobots as they are cost-effective, productive, and adaptable.
- During 2020-2024, the market will grow at a CAGR of over 24%.
Automatic Optical Inspection Market: Key Highlights of the Report for the Forecast Period 2020-2024
- 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 market 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
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Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
- Market size and forecast
- Market segmentation
- Geographical insights
- Competitive landscape
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