Global Automated Optical Inspection (AOI) System Market Gaining Momentum: Projected to Touch USD 1705.9 Million & Growing at the CAGR of 10.91% during the Forecast Period
Published | 25 August 2021
A recent study conducted by the strategic consulting and market research firm, BlueWeave Consulting, revealed that the global automated optical inspection (AOI) system market was worth USD 750.3 million in the year 2020. The study also states that the market is estimated to grow at the CAGR of 10.91%, earning revenue of around USD 1705.9 million by the end of 2027.
The demand for high-performance electronic components for critical safety systems of vehicles, like advanced driver assistance systems (ADAS), airbags, and braking systems, has boosted the global automated optical inspection (AOI) system market. Moreover, the implementation of wireless communication technologies like M2M and connected vehicles has resulted in a surge in the adoption of electronics components in automobiles.
Escalating Demand for Optical Inspection (AOI) System in Automotive Electronics will Flourish the Market
The automotive industry is thriving at a very rapid rate due to technological advancements and the increasing disposable income of the masses. These are the primary factorsdriving the growth of the automated optical inspection (AOI) system market. Furthermore, the growing demand for inspection to assure the safety of vehicles equipped with advanced driver assistance systems, airbags, brake systems, and so on is propelling the market.Also, as automotive manufacturers strive to ensure the quality of their final products, the need for high-quality electrical components has increased dramatically. Ensuring the quality and safety of the vehicle is projected to pull significant demand for the AOI systems in the forecast period.
Escalating Demand for2D AOI System Type Will Boost the Overall Automated Optical Inspection (AOI) System Market During the Forecast Period
There are two types of automated optical inspection systems available in the automated optical inspection (AOI) systemmarket, i.e., 2D AOI systems and 3D AOI systems. 2D AOI systems have a very high demand in the automated optical inspection (AOI) systemmarket owing to lower prices and affordability, mainly among electronics manufacturers. The 2D AOI system offers various advantages, including cost-effectiveness, the ability to inspect surface mount technology, high-speed inspection, and color inspection capabilities.However, 3D AOI systems are projected to grow at a high CAGR during the foreseeable future due to their capability of inspecting co-planarity issues in components, detecting lifted leads, and reducing false call rates. These factors are contributing to the growth of the 3D automated optical inspection (AOI) system market.
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Global Automated Optical Inspection (AOI) System Market - By Application
Based on application, the global automated optical inspection (AOI) system market is bifurcated into printing, selective soldering, reflow soldering, wave soldering, and automation. The wave soldering segment dominates the application segment due to its widespread use in large production volumes, allowing for the manufacturing of numerous circuit boards in a short period of time. Wave soldering is a large-scale soldering procedure by which electronic components are soldered to a PCB to create an electronic assembly. The AOI systems identify the presence of any contamination or debris, as well as filled or missing holes inside the circuit boards, assisting in the prevention of future problems with electronic products.
APAC is Dominating Overall Automated Optical Inspection (AOI) System Market During the Forecast Period
Geographically, the global automated optical inspection (AOI) system market has been grouped into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. The Asia Pacific is the leading region in the overall market followed by North America due to the high penetration of several electronic component and device manufacturing companies in the region. The presence of several vehicle manufacturers in China is also responsible for the increased usage of these machines. Additionally, favorable government policies and low production prices create tremendous growth opportunities for multinational and start-up electronics firms in China.
The North American automated optical inspection system market also accounts for a substantial market share because of significant technological breakthroughs across all manufacturing sectors, as well as the availability of numerous safety and compulsory inspection regulations for machinery production.
Impact of Covid-19 on the Global Automated Optical Inspection (AOI) System Market
The COVID-19 pandemic has wreaked havoc on the global automated optical inspection (AOI) system industry. Electronic and vehicle manufacturers are the major consumers of AOI systems.However, soon after the COVID-19 breakout, governments in some nations were forced to enforce a nationwide lockdown.Consequently, all the manufacturing and production operations of all non-essential goods like circuit boards, mobile phones, automobile parts, etc., were temporarily barred.The use and demand for AOI systems plummeted as a result of this. The market was severely harmed also because the virus affected two of the world's largest producers, China and India. Nevertheless, in the post-COVID-19 phase, the automated optical inspection (AOI) system market is projected to pick up again.
Global Automated Optical Inspection (AOI) System Market:Competitive Landscape
Companies such as KOH Young, Mirtec, Omron, Test Research, Inc. (TRI), Viscom, Camtek, Cyberoptics, Daiichi Jitsugyo (DJK), Nordson, Orbotech, Goepel Electronic, Marantz Electronics, Machine Vision Products, Saki, VI Technology, AOI Systems Ltd., Chroma Ate Inc., and Pemtron are the leading players in the global automated optical inspection (AOI) system market. The market is very dense and the competition is very stiff as the industry players are continually focusing on establishing more and more manufacturing plants to expand their consumerbase. They are also working on product developments and launches to expand their product portfolio.
Don’t miss the business opportunity of the global automated optical inspection (AOI) system market. Consult our analysts to gain crucial insights and facilitate your business growth.
The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of the global automated optical inspection (AOI) system market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends of the global automated optical inspection (AOI) system market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyses the growth drivers, challenges, and competitive dynamics of the market.
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