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.

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

• As per the analysis shared by our research analyst, the Automated Optical Inspection Market is expected to grow annually at a CAGR of around 19.5 % (2022-2028).
• Through the primary research, it was established that the Automated Optical Inspection Market was valued approximately USD 571.6 Million in 2021 and is projected to reach to roughly USD 2960.4 Million by 2028.
• 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.
• Market expansion in Asia Pacific 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.
• Smart technology is steadily becoming more widely used, from smartphones, wearables, and laptops to even larger uses in smart homes and smart industries.

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

• Increase in demand for consumer electronics is likely to boost the growth of the market.

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

• Image-based AOI systems' false call rate may impede the growth of the automated optical inspection market.

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

• The arrival of SMART revolution is expected to have ample opportunities for the market growth.

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

• The need for highly sophisticated software and hardware to deal with vast data poses a major challenge to the market.

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

• The global automated optical inspection market is segregated based on type, application, industry verticals, and region.

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 :

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

Key questions answered in this report:

• What are the growth rate forecast and market size for Automated Optical Inspection Market ?
• What are the key driving factors propelling the Automated Optical Inspection Market forward?
• What are the most important companies in the Automated Optical Inspection Market Industry?
• What segments does the Automated Optical Inspection Market cover?
• How can I receive a free copy of the Automated Optical Inspection Market sample report and company profiles?

Report Scope:

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Recent Developments

• In March 2021, Viscom introduced a novel Heavy Flex handling solution to address the demand for flexible handling of heavy and large objects. Viscom's S3016 extreme system for optical inline 3D inspection has Heavy Flex handling features.
• In March 2021, Saki Corporation upgraded their 3Di Series AOI system featuring a new Z-axis solution to speed up the evaluation of press-fit components, tall components, and PCBAs in jigs. In 3D mode, the new Z-axis package for the 3Di Series allows for an optimum height measurement range of 40 mm. In 2D, the maximum focus height has been raised to 40 mm.

Regional Dominance:

• Asia Pacific is set to lead the global market during the projected period.

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)

• 2D
• 3D

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

• Fabrication Phase
• Assembly Phase

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

• Consumer Electronics
• Telecommunications
• Automotive
• Medical Devices
• Aerospace & Defense
• Industrial
• Energy & Power

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

North America

• The U.S.
• Canada

Europe

• France
• The UK
• Spain
• Germany
• Italy
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• South Korea
• Southeast Asia
• Rest of Asia Pacific

Latin America

• Brazil
• Mexico
• Rest of Latin America

Middle East & Africa

• GCC
• South Africa
• Rest of Middle East & Africa

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