Market Overview
In 2020, the automated optical inspection market was worth USD 598 million, and by 2026, it is expected to be worth USD 1,660 million. It is anticipated to increase at a CAGR of 20.8 percent throughout the forecast period. Benefits of AOI over other inspection methods, increased demand for consumer electronics because to the pandemic, rising prices for miniature, high-speed PCBs, result in higher productive output by electronics manufacturing services (EMS) businesses, as well as developing demand for electronics within the automotive sector are all driving the automated optical inspection market forward. The introduction of SMART technology, additional uses of AOI systems other than PCB inspection, and rising demand for AOI systems to inspect IC substrates all provide market players with expansion opportunities.
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Market Segmentation
- The Automated Optical Inspection System Market is divided into two categories depending on technology: online AOI and offline AOI.
- The Automated Optical Inspection System Market is divided into two types: 2D AOI systems plus 3D AOI systems.
- Automotive, aerospace and defence, consumer electronics, industrial electronics, healthcare, telecommunications, energy, and power are the key verticals in which the market is categorized.
Regional Classification
With a market share of 48.1 percent in 2019, Asia Pacific led the automated optical inspection systems market. It is because the area has a large number of electronics and printed circuit board makers. Furthermore, one of the primary factors that have compelled large electronics manufacturers to locate their manufacturing operations in this area is the low cost of labor. Moreover, rising disposable income in countries such as China and India has raised a demand for consumer electronics and vehicles, pushing the demand for high-quality electronic parts and adding to the market's development.
Because of increased innovation and technical improvements across all manufacturing sectors in the area, North America held the second biggest market share in 2019. Automakers in countries such as Germany and France are focusing on improving car safety systems, which has contributed to an increase in demand for high-quality electronic parts and, as a result, AOI systems in this area.
Industry News
The consumer electronics category is anticipated to retain the greatest share of the AOI system market during the projected period. The intricacy of internal circuits and parts has enhanced significantly due to the shrinking of electronic devices. Manufacturers are increasingly employing modern AOI systems to inspect complicated PCBs of small and compact consumer electronic devices to provide high-quality products to customers. Modern electronic devices, like laptops, smartphones, and wearables, have become more sophisticated in architecture due to the tendency to have one device with several functions. The rising complexity of these devices necessitates modern AOI inspection techniques. Furthermore, as 3D inspection technology becomes more widely adopted, AOI systems will become increasingly important in sustaining the high-quality standards of these sophisticated consumer electronic gadgets.
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