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Demand For Global Automated Optical Inspection Market Is Predicted To Rise At 19.5% CAGR Until 2028, Value to Cross US$ 2960.4 Million, Says Zion Market Research


NEW YORK, June 27, 2022 /PRNewswire/ -- As per Zion Market Research study, The global automated optical inspection market was valued at about USD 571.6 million in 2021 and is expected to expand to around USD 2,960.4 million by 2028, with a CAGR of around 19.5 percent during the forecast period.

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Key Industry Insights & Finding of the Automated Optical Inspection Market Reports:

Zion Market Research published the latest report titled as "Automated Optical Inspection Market By Type (2D And 3D), By Application (Fabrication Phase And Assembly Phase), By Industry Vertical (Consumer Electronics, Telecommunications, Automotive, Medical Devices, Aerospace & Defense, Industrial, And Energy & Power), And By Region ? Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data And Forecasts 2022 ? 2028." into their research database.

Automated Optical Inspection Market : Overview

Automated optical inspection (AOI) systems are primarily used for thorough observation on a printed circuit board, which verifies a device with the use of an autonomous camera and screen for both major failure and quality abnormalities. These technologies provide even more speed and precision. Automated optical inspection equipment is quick and provides consistent inspection results. Automated optical inspection systems use a variety of processes to determine if a board is excellent or has any flaws, such as design coordinating, layout coordinating, and statistical pattern matching.

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Industry Dynamics:

Automated Optical Inspection Market : Growth Drivers

Demand for modern consumer electronic appliances and goods has increased as a result of factors such as urbanization and increased disposable income. Simultaneously, there is an increase in demand for long-lasting, high-quality items at a reasonable price. Electronic manufacturing factories are springing up all over the world as the demand for consumer electronics grows tremendously. The growing demand for improved goods has prompted PCB producers to invest in more cost-effective production procedures. As a result, PCB manufacturers have implemented AOI systems in their production lines to increase product quality and reduce manufacturing costs. In addition to this, people spending more time indoors has led to increased expenditures on technological advancements, thereby making homes more comfortable and pleasant. This has resulted in a surge in demand for novel consumer electronics. Thus, the growing demand for consumer electronics in developed and emerging countries is likely to boost the growth of the global automated optical inspection market.

Automated Optical Inspection Market : Restraints

The false call rate (FCR) is described as the number of acceptable components that are mistakenly identified as faulty, and the false call rate is measured in parts-per-million (ppm). When it comes to image-based AOI systems, false calls are the main important consideration. The image-based AOI system employs a series of images to distinguish between faulty and excellent components. At the same time, the operator who collects these photographs and feeds them into the database is the most important part of this system. When images are incorrectly categorized and stored in the image database, parameter optimization becomes difficult. Furthermore, if a false call occurs, the operator must inspect the problem and restart the operation, resulting in a slower manufacturing process, lower productivity, and higher production costs. All such factors may hinder the growth of the global automated optical inspection market. 

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Global Automated Optical Inspection Market : Opportunities

Smart technology is steadily becoming more widely used, from smartphones, wearables, and laptops to even larger uses in smart homes and smart industries. Smart technology encompasses a wide range of gadgets, including Internet of Things (IoT) devices and smart linked devices. Sensors, processors, software, internet connection, analytics, and apps are used to bring static physical things to life in the Internet of Things (IoT). These gadgets are automated, scalable, and futuristic, and they add significant value. Smart factories, smart homes, and smart cities are just a few examples. Smart linked gadgets use remote control and are connected to the Bluetooth or internet. Smart linked gadgets can provide a personalized experience, but they must be controlled through a remote. Manufacturers have been able to increase the number of components put on a PCB due to the miniaturization trend. The need for AOI systems has been spurred by the necessity to check all components in a timely and reliable manner. Inspecting compact PCBs requires the use of an AOI system.

Global Automated Optical Inspection Market : Challenges

As a result of the present demanding scenario in the electronics production environment, modern AOI systems have improved significantly. With the shrinking of electrical components and the increasing complexity of PCB architecture, AOI systems have evolved. Multiple high-definition cameras are being employed in an AOI system to obtain more detailed pictures of complicated PCBs. These newest cameras can shoot at speeds of up to 120 frames per second (fps). The high-resolution pictures and rapid scanning speeds produce a large amount of data. To store and analyses this huge volume of data, businesses must maintain very complex software and hardware systems solutions. However, not every electronics manufacturer can afford such a pricey support system, which poses a hindrance to the global automated optical inspection market's expansion.

Global Automated Optical Inspection Market : Segmentation

By type, the market is split into 2D and 3D. Based on the application, the market is categorized into the assembly phase and fabrication phase. Among these, the market share for the fabrication phase was highest in 2020, the segment is also projected to register rapid growth over the forecast period. The industry vertical segment of the market is categorized into telecommunications, consumer electronics, medical devices, automotive, industrial, aerospace & defense, and energy & power.

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List of Key Players of Automated Optical Inspection Market :

Key questions answered in this report:

Report Scope:

Report Attribute

Details

Market size value in 2021

USD 571.6 Million

Revenue forecast in 2028

USD 2960.4 Million

Growth Rate

CAGR of almost 19.5 % 2022-2028

Base Year

2020

Historic Years

2016 - 2021

Forecast Years

2022 - 2028

Segments Covered

By Product Type, By Application, and By End Use

Forecast Units

Value (USD Billion), and Volume (Units)

Quantitative Units

Revenue in USD million/billion and CAGR from 2022 to 2028

Regions Covered

North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World

Countries Covered

U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others

Companies Covered

Test Research, Inc., Koh Young, Omron, KLA, Saki Corporation, Nordson, Camtek, Viscom, Goepel Electronics, and Cyberoptics

Report Coverage

Market growth drivers, restraints, opportunities, Porter's five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.

Customization Scope

Avail customized purchase options to meet your exact research needs.

https://www.zionmarketresearch.com/custom/3312

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Recent Developments

Regional Dominance:

Asia Pacific is the world's biggest producer of printed circuit boards, with the major technologically advanced market such as Taiwan, China, Japan, and South Korea. As the demand for AOI systems with quicker inspection speeds grows, so does the demand for high-volume PCB fabrication in the region. Market expansion in this region is also attributed to a combination of low-cost trained labor, a business-friendly climate, cheap manufacturing costs, and expanding demand for electronic equipment. The APAC electronics sector has become a global tech hub for production due to its rapid growth in electronics sectors.

Global Automated Optical Inspection Market is segmented as follows:

Automated Optical Inspection Market : By Type Outlook (2022-2028)

Automated Optical Inspection Market : By Application Outlook (2022-2028)

Automated Optical Inspection Market : By Industry Vertical Outlook (2022-2028)

Automated Optical Inspection Market : By Region Outlook (2022-2028)

North America

Europe

Asia Pacific

Latin America

Middle East & Africa

Press Release For Automated Optical Inspection Market : https://www.zionmarketresearch.com/news/global-automated-optical-inspection-market

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Zion Market Research is an obligated company. We create futuristic, cutting edge, informative reports ranging from industry reports, company reports to country reports. We provide our clients not only with market statistics unveiled by avowed private publishers and public organizations but also with vogue and newest industry reports along with pre-eminent and niche company profiles. Our database of market research reports comprises a wide variety of reports from cardinal industries. Our database is been updated constantly in order to fulfill our clients with prompt and direct online access to our database. Keeping in mind the client's needs, we have included expert insights on global industries, products, and market trends in this database. Last but not the least, we make it our duty to ensure the success of clients connected to us?after all?if you do well, a little of the light shines on us.

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