Automated Optical Inspection Market revenue to reach USD 2.68 Billion by 2036, says Research Nester
Prominent automated optical inspection market players include CyberOptics, GOPEL Electronic GmbH, KOH YOUNG TECHNOLOGY Inc., MIRTEC CO., LTD., Nordson Corporation Test Research, Inc., Viscom AG, NVIDIA, MACHINE Vision Products, and Marantz Electronics.
New York, March 19, 2024 (GLOBE NEWSWIRE) -- The global automated optical inspection market size is projected to grow at a CAGR of over ~10% from 2024 to 2036. The market is expected to garner a revenue of USD 2.68 billion by the end of 2036, up from a revenue of ~USD 777 million in the year 2023.This growth can be attributed to the increasing demand for automation in various industries, such as automotive, electronics, and healthcare. The analysis estimated that automation could result in a 0.9-1.7% increase in annual global productivity growth.
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Many businesses are increasingly using automation due to its waste elimination and efficiency improvement opportunities. For example, automated optical inspection enables spotting product defects in a more rapid manner, which can save valuable resources. In addition, automation can support job creation and reduced reliance on manual labor. Therefore, the use of automation is beneficial for many companies.
Technological Advancements to Boost Market Growth
With the development of technology, AOI, fully automatic optical inspection systems help the image processing abilities. For example, 3D-AOI using AI considerably lessens the number of false alarms occurring in solder defect inspection, an extremely difficult goal to devise with conventional 3D-AOI technology. In other words, it provides the highest level of accuracy when it comes to solder defect detection within a smart factory, meaning that previously it was not possible to have an AI to capture such high-resolution image, and now process that high resolution fast and with high precision, which in turn detects a broader or facilitates the detection of electronic devices and PCBs.
Another key technological advancement in AOI systems is the development of enhanced defect detection algorithms. These algorithms leverage machine learning and artificial intelligence techniques to identify and classify defects with a high degree of accuracy. This enables manufacturers to quickly identify and address quality issues, leading to improved product reliability and customer satisfaction.
Automated Optical Inspection Market: Regional Overview
The market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa region.
The Increasing Demand for Better Quality Control in Manufacturing Sector to Drive the Growth in the Asia Pacific Region
The automated optical inspection market in Asia Pacific region is estimated to garner the largest revenue by the end of 2036. This is due to its growing manufacturing industry, the increasing demand for better quality control, and the rising investments in the automation of manufacturing processes. The pace of the manufacturing industry’s annual production growth reached 4. 9% for India during fiscal year 2023, and in China, the overall industrial output often registers an annual growth of more than 10 percent. This progress is due to the change in means of manufacturing, such as robotics, automation, and artificial intelligence, that ensure quality and more efficient manufacturing. Additionally, investments are being made in research and development to create more efficient and cost-effective production processes.
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Ever-Growing Pharmaceuticals Industry to Drive the Growth in the North America Region
The North America automated optical inspection market is estimated to garner the largest revenue by the end of 2036 driven by ever-growing pharmaceuticals industry in the region. According to the Centres for Medicare and Medicaid Services surveyed, the total expenditure on prescription drugs amounted to around 406 billion U.S. dollars in the United States in 2022. AOI systems are utilized to examine pharmaceutical packaging and check labelling, sealing, and any pollutants. In addition, an increase in popularity of personalized medicine and preference for highly developed medical technology is projected to boost the regional market. As personalized drugs are tailored to the individual's unique genetic makeup, they require more precise and accurate testing to ensure safety and efficacy. Advanced medical technologies, such as artificial intelligence, are also increasingly being used in medical diagnosis and treatments, which require automated optical inspection systems to measure and analyse the results.
Automated Optical Inspection Segmentation by Industry
Consumer Electronics
IT & Telecommunications
Automotive
Medical Devices
Aerospace & Defense
Industrial Electronics
Energy & Power
The automotive segment in the automated optical inspection market is anticipated to hold the largest revenue by the end of 2036. This is due to its growing use for quality control, as automotive manufacturers are increasingly relying on automated optical inspection to detect faults in their products. Another key force that drives further demand for automated optical inspection is the increased demand for autonomous vehicles. In 2019, there were approximately 35 million vehicles in operation in the world that with at least some form of automation. Moreover, 72% of new autonomous vehicle sales are expected to be sold by 2040. As autonomous vehicles increase in complexity, the need for more effective and accurate inspection systems becomes more pronounced. Automated optical inspection systems are able to quickly and accurately detect any defects in the components or systems used in the autonomous vehicles.
Automated Optical Inspection Segmentation by Technology
Inline AOI System
Offline AOI System
The inline AOI system segment in the automated optical inspection market is anticipated to hold the largest revenue by the end of 2036. The system is created for inline inspection to allow real-time product testing. In-line inspection increases the speed of product inspection and accuracy, which is essential for the electronics businesses and automotive that may have severe effects in case such defects are not detected earlier. For example, in 2020, the total number of vehicles recalled in the United States was 55 million. On the other hand, in India, over 3.9 million vehicles have been recalled since 2012 after parts with a likely defect were identified. In addition, the use of inline AOI systems is becoming increasingly popular due to the growing demand for high-quality products. Consumers are willing to pay more for products that are free from defects, and manufacturers are under pressure to meet these demands. By using inline AOI systems, manufacturers can ensure that their products meet the highest standards of quality, which can lead to increased customer satisfaction and loyalty.
Automated Optical Inspection Segmentation by Component
Software
System
Automated Optical Inspection Segmentation by Application
Fabrication Phase
Assembly Phase
Automated Optical Inspection Segmentation by Type
2D AOI System
3D AOI System
A few of the well-known indsutry leaders in the global automated optical inspection market that are profiled by Research Nester are CyberOptics, GOPEL Electronic GmbH, KOH YOUNG TECHNOLOGY Inc., MIRTEC CO., LTD., Nordson Corporation Test Research, Inc., Viscom AG, NVIDIA, MACHINE Vision Products, Marantz Electronics, and other key market players.
Recent Development in the Automated Optical Inspection Market
NVIDIA announced that Techman Robot chose NVIDIA Isaac Sim to optimize automated optical examination. By using Omniverse, the Taiwan cobot innovator hastened its robotics-based inspection efforts by 20% to boost the quality of electronics creation Quanta’s goods. NVIDIA presented how the industry pioneer utilized AI-enabled robots to examine the quality of its goods.
Viscom produced a new Heavy Flex handling version to offer maximum flexible sample handling of huge as well as ponderous things. The S3016 ultra projector measuring system for optically integrated 3D Vice heavy flex handling option will be presented.
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