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The market size of Automated Optical Inspection Systems reached USD 657.11 million in 2021 and is anticipated to grow from USD 798.61 million in 2022 to USD 2,898.21 million by 2030. This projection indicates a compound annual growth rate (CAGR) of 17.50% during the forecast period from 2022 to 2030. The increasing demand for AOI systems in the inspection of IC substrates is a key driver of this market growth.
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The current market for automated optical inspection systems is witnessing a decline in demand due to the challenges posed by the COVID-19 pandemic. The epidemic has resulted in disruptions to the supply chain and shortages of hardware. Lockdowns have further hampered industrial activity and led to a decrease in the adoption of new technology. However, this downturn is expected to be temporary, and a significant growth in demand for automated optical inspection systems is anticipated during the forecast period.
Automated optical inspection systems play a crucial role in the production of small products like printed circuit boards, especially with the increase in miniaturization. These systems utilize artificial intelligence-based software and image processing to identify flaws in manufactured products.
The rise in popularity of high-density interconnect (HDI) printed circuit boards, driven by the use of small, portable devices, necessitates the use of automated optical inspection systems for efficient inspection.
The market is segmented into Software and System. The System segment is experiencing the fastest growth, offering real-time mistake identification and operator feedback based on historical data, enhancing manufacturing processes and saving costs.
The market is divided into Inline AOI and Offline AOI. The Inline AOI segment led the market in 2021, driven by its quick inspection capabilities, detailed examination of specifications, and reduced need for manual labor.
The market is segmented into 2D AOI Systems and 3D AOI Systems. The 2D AOI Systems dominate due to their cost-effectiveness and simplicity of programming, with continuous improvements in software interfaces and image processing technologies.
Segmentation includes Automotive, Aerospace & Defense. The Automotive segment dominates the market, fueled by the demand for high-performing electronic components for vehicle safety and the development of advanced driver assistance systems.
Regionally, Asia-Pacific accounted for the largest share of revenue in 2021, driven by the presence of numerous electronics and printed circuit board manufacturers, along with a low cost of labor.
Major players in the Automated Optical Inspection Systems market include Koh Young, Test Research, Omron, Mirtec, Viscom, Camtek, CyberOptics, Daiichi Jitsugyo, Nordson, Orbotech, GOEPEL Electronic, Marantz Electronics, Machine Vision Products, Saki, Vi Technology, Dcb Automation, Pemtron, and Stratus Vision.
Recent industry developments include OMRON Automation's launch of a new PoC lab in India, Saki Corporation's exhibition of total line inspection solutions in Brazil, and NVIDIA's collaboration with Techman Robot to optimize automated optical inspection.
· Type Outlook: 2D AOI Systems, 3D AOI Systems
· Component Outlook: Software, System
· Technology Outlook: Inline AOI, Offline AOI
· Industry Vertical Outlook: Automotive, Aerospace & Defense, Others
· Regional Outlook: North America, Europe, Asia Pacific, Middle East & Africa, South America
· The advantages of AOI over other inspection methods.
· Upsurge in demand for consumer electronics amid pandemics.
· Rising need for miniature, high-speed PCBs.
· The report provides detailed insights into market size, growth factors, competitive landscape, and trends, covering segments such as type, component, technology, industry vertical, and region. The forecast period is from 2022 to 2030, with a projected CAGR of 17.51%.
The market size of Automated Optical Inspection Systems reached USD 657.11 million in 2021 and is anticipated to grow from USD 798.61 million in 2022 to USD 2,898.21 million by 2030.
The global market is projected to grow at a CAGR of 17.50% during the forecast period, 2023-2030.
Research on the market is done by industry professionals who provide personalized insights on the industry structure, market segmentation, Type assessment, competitive landscape (CL), along with penetration, and emerging trends. In addition to years of professional experience in their various fields and sectors, their analysis is largely based on primary interview (60%) and secondary research (40%) as well as years of professional experience. In addition, our researchers forecast the market's direction over the following seven years by examining past trends and the market's current position. Additionally, various trends of segments and categories that are geographically portrayed are studied and estimated using primary and secondary research.
The key level executives (VP, CEO, Marketing Directors, and Business Development Managers) of the major industry participants who are active and prominent as well as mid-scale businesses operating in this market were interviewed in-depth for this supply-side report by overall Global Market Research.
Extensive primary research was conducted to gain a deeper grasp of the market and industry. Both primary and secondary research, as well as years of pertinent professional experience, are used to support the analysis. By analyzing past and present market patterns, our experts were able to forecast the market's course over the following seven years. For the geographically offered categories in the list of market tables, it differs per category. In connection with the Global Market research report, we also conducted a number of primary interviews with senior level executives (VP, CEO's, Directors, Marketing Directors, Business Development Managers, CFOs, Technical Consultants, Key Opinion Leaders, Industry Experts, Decision Matrix Authorities, and other crucial individuals) of the key industry players who dominated the Global market.
The primary purpose of secondary research was to gather, identify, and validate the information necessary for the thorough, technical, market-focused, and commercial analysis of the global market. With the use of this study, it was also possible to classify and segment the market in accordance with market trends, geographic markets, and regional considerations linked to market type. Analysts have gathered data in the Distribution Channel for the study of the market from reliable sources including annual reports, journals, white papers, corporate presentations, company websites, international organizations of Energy and Power manufacturers, credible paid databases, and many others to gather reliable intel.
Both top-down and bottom-up methodologies were employed to assess the accuracy of the global market size. The market for as a whole was estimated using these methods for a number of different dependent submarkets. Secondary research was used to address the major industry players, and primary and secondary research was used to calculate their market shares in the various regions. This complete intellectual process includes reading the annual and financial reports of the top market participants and conducting in-depth interviews with top industry executives (VP, CEO, Marketing Directors, and Business Development Managers) to gain important industry insights.
Through reliable secondary sources and validated primary sources, the classification of the global markets and their geographic percentage splits were established. To obtain the final qualitative and quantitative data, all relevant variables that might have an impact on the market under investigation have been taken into consideration, inspected in great depth, verified through primary research, and assessed. This information was collected, added to, and thoroughly examined by professional analysts before being provided in this report. The process used to estimate the overall market size for this study is depicted in the following image as an example.
Report Code :
RL65451
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