Automated Optical Inspection (AOI) Equipment Market Size to Achieve 19.03% CAGR, Predicted Revenue of USD 2.974 Billion from 2023 to 2030

Jul 27, 2023

[226 + Pages Research Study] According to a market research study published by Zion Market Research, the demand analysis of Global Automated Optical Inspection (AOI) Equipment Market size & share revenue was valued at around USD 738 million in 2022 and is estimated to grow about USD 2974 million by 2030, at a CAGR of approximately 19.03% between 2023 and 2030. The key market players are listed in the report with their sales, revenues and strategies are Orbotech Ltd., Omron Corporation, Camtek Ltd., Nordson Corporation, CyberOptics Corporation, Koh Young Technology Inc., Mirtec Corporation, Viscom AG, Utechzone Co. Ltd., Test Research Inc., ViTrox Technologies Sdn Bhd, Machine Vision Products Inc., Goepel electronic GmbH, Saki Corporation, Parmi Corporation, AOI Systems Ltd., and Sinic-Tek Vision Technology Co. Ltd., and others.

San Francisco, CA, July 26, 2023 (GLOBE NEWSWIRE) -- Zion Market Research has published a new research report titled “Automated Optical Inspection (AOI) Equipment Market By Industry (Aerospace & Defense, IT & Telecom, Automotive, Consumer Electronics, And Others), By Technology (Offline And Inline), By Type (3D AOI And 2D AOI), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030” in its research database.

“According to the latest research study, the demand of global Automated Optical Inspection (AOI) Equipment Market size & share in terms of revenue was valued at USD 738 million in 2022 and it is expected to surpass around USD 2974 million mark by 2030, growing at a compound annual growth rate (CAGR) of approximately 19.03% during the forecast period 2023 to 2030.”

What is Automated Optical Inspection (AOI) Equipment? How big is the Automated Optical Inspection (AOI) Equipment Industry?

Automated Optical Inspection (AOI) Equipment Report Coverage & Overview:

Automated optical inspection (AOI) is a sort of visual inspection approach that operates using automation technologies. AOI equipment is used to test and identify any faults in printed circuit board assemblies (PCBAs). The device, when in operation, independently scans the surface of PCBAs and assists in detecting 2 primary types of flaws. One of these defaults involves quality issues such as non-standard or misaligned components or a malformed filet. The second type of fault involves catastrophic failures, a prime example of which is a missing component. Studies reveal that AOI equipment demonstrates superior performance in applications that deal with lower component variability and high volumes mainly because such designs are hard and time-consuming. They have to be set up for part configuration or specific design which further calls for the employment of AOI equipment.

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Global Automated Optical Inspection (AOI) Equipment Market: Growth Dynamics

Demand for consumer gadgets that are both affordable and high-performing has been growing, which is driving market expansion.

It is anticipated that the global market for automated optical inspection (AOI) equipment would expand as a result of the growing demand for consumer electronics that are both cost-effective and high-performing. Products such as laptops, cellphones, and other "smart home" gadgets are included in this market category, to name just a few examples. Over the course of the past several years, the rate of consumption of consumer electronics has increased, which has led to an increase in the need for PCBAs that are energy efficient. The producers of consumer electronics are looking into several methods that will allow them to boost the output performance of their products while also providing a justification for the high cost of owning such products.

In addition to this, there is an increased focus on the efficiency of energy use. Achieving all these points is possible only through the development of high-grade printed circuit boards which, in turn, has resulted in higher consumption of advanced AOI equipment to ensure product expectations are met. AOI technology is a non-contact test method and has proven efficient in detecting PCB errors accurately for specific categories of programmed defects. In April of 2023, Marantz Electronics made the announcement that they would be releasing their new inline AOI system, the Mek iSpector. It is beginner-level equipment that has the potential to fulfill the demand for reasonably priced AOI solutions of a high standard.

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Report Scope

Report Attribute

Details

Market Size in 2022

USD 738 million

Projected Market Size in 2030

USD 2974 million

CAGR Growth Rate

19.03% CAGR

Base Year

2022

Forecast Years

2023-2030

Key Market Players

Orbotech Ltd., Omron Corporation, Camtek Ltd., Nordson Corporation, CyberOptics Corporation, Koh Young Technology Inc., Mirtec Corporation, Viscom AG, Utechzone Co. Ltd., Test Research Inc., ViTrox Technologies Sdn Bhd, Machine Vision Products Inc., Goepel electronic GmbH, Saki Corporation, Parmi Corporation, AOI Systems Ltd., and Sinic-Tek Vision Technology Co. Ltd.

Key Segment

By Industry, By Technology, By Type, and By Region

Major Regions Covered

North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa

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Automated Optical Inspection (AOI) Equipment Market: Segmentation Analysis

The global automated optical inspection equipment market is segmented based on industry, technology, type, and region.

Based on industry, The market on a global scale is segmented into aerospace & defense, IT & telecom, automotive, consumer electronics, and other industries. Among these, the IT & telecom segment is poised to experience the most significant growth due to the rapid expansion of the global telecom network. Moreover, increasing investments in 5G technology by both developing and developed nations are expected to further drive growth in the AOI equipment industry. These advanced systems find extensive use in telecom service providers, including communication devices, satellite systems, routers, and broadcasting systems. It is projected that by the year 2030, the global telecom sector could witness a Compound Annual Growth Rate (CAGR) surpassing 6.12%.

Based on technology, The automated optical inspection equipment industry is categorized into two types: offline and inline systems. Among these, the inline segment is projected to generate the highest revenue, primarily driven by its superior performance efficiency. Inline AOI equipment enables a comprehensive examination of specific defects without the need to manually flip the PCBs, reducing manual labor and saving time significantly. Moreover, the inline systems provide quick and efficient results. On average, the cost of AOI systems falls within the range of USD 50,000 to USD 200,000.

Based on type, The industry of automated optical inspection equipment can be categorized into two main segments: 3D AOI and 2D AOI. Presently, the 2D AOI section stands out as the highest-performing segment, and this trend is expected to persist throughout the forecast period. The primary driver behind this growth is the cost-effectiveness of 2D systems coupled with their ability to accommodate more specific programming requirements. 2D systems excel at detecting both minor and major defects on a PCB, making them a preferred choice. Nevertheless, there is also a growing interest in 3D AOI systems, which offer the advantage of detecting defects using an additional dimension.

The global Automated Optical Inspection (AOI) Equipment market is segmented as follows:

By Industry

Aerospace & Defense

IT & Telecom

Automotive

Consumer Electronics

Others

By Technology

Offline

Inline

By Type

3D AOI

2D AOI

Others

Browse the full “Automated Optical Inspection (AOI) Equipment Market By Industry (Aerospace & Defense, IT & Telecom, Automotive, Consumer Electronics, And Others), By Technology (Offline And Inline), By Type (3D AOI And 2D AOI), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030” Report at https://www.zionmarketresearch.com/report/automated-optical-inspection-aoi-equipment-market

Competitive Landscape

Some of the main competitors dominating the global Automated Optical Inspection (AOI) Equipment market include -

Orbotech Ltd.

Omron Corporation

Camtek Ltd.

Nordson Corporation

CyberOptics Corporation

Koh Young Technology Inc.

Mirtec Corporation

Viscom AG

Utechzone Co. Ltd.

Test Research Inc.

ViTrox Technologies Sdn Bhd

Machine Vision Products Inc.

Goepel electronic GmbH

Saki Corporation

Parmi Corporation

AOI Systems Ltd.

Sinic-Tek Vision Technology Co. Ltd.

Key Insights from Primary Research:

As per the analysis shared by our research analyst, the global automated optical inspection (AOI) equipment market is estimated to grow annually at a CAGR of around 19.03% over the forecast period (2023-2030)

In terms of revenue, the global automated optical inspection (AOI) equipment market size was valued at around USD 738 million in 2022 and is predicted to grow to around USD 2974 million, by 2030.

The automated optical inspection equipment market is projected to grow at a significant rate due to the growing demand for cost-effective and high-performance consumer electronics

Based on industry segmentation, IT & telecom was predicted to show maximum market share in the year 2022

Based on technology segmentation, inline was the leading technology in 2022

On the basis of region, Asia-Pacific was the leading revenue generator in 2022

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Key questions answered in this report:

What is the market size and growth rate forecast for Automated Optical Inspection (AOI) Equipment industry?

What are the main driving factors propelling the Automated Optical Inspection (AOI) Equipment Market forward?

What are the leading companies in the Automated Optical Inspection (AOI) Equipment Industry?

What segments does the Automated Optical Inspection (AOI) Equipment Market cover?

How can I receive a free copy of the Automated Optical Inspection (AOI) Equipment Market sample report and company profiles?

Key Offerings:

Market Size & Forecast by Revenue | 2023−2030

Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities

Market Segmentation – A detailed analysis By Industry, By Technology, By Type, and By Region

Competitive Landscape – Top Key Vendors and Other Prominent Vendors

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Regional Dominance:

During the foreseeable time period, Asia-Pacific will experience the greatest expansion.

During the time covered by this estimate, the market for automated optical inspection (AOI) equipment in Asia-Pacific will maintain its position as the world's largest. PCBAs are produced in this region, which is home to some of the largest and most influential manufacturers in the world. At the moment, China is in the driver's seat when it comes to the manufacture and export of PCB. In addition to this, the nation not only sells its goods in Asian countries, but it is also one of the most important trading partners for PCB for businesses in both Europe and the United States of America. In addition, Taiwan is widely regarded as the global center for the production of modern printed circuit boards.

India is a significant player in PCB production; nevertheless, in the recent past, the area has increased the amount of effort it is exerting to establish its grip in the market. For example, beginning in April 2023, a greater number of hearables and wearables items in the Indian region are likely to be outfitted with home-grown PCBs, which may result in an increased demand for sophisticated AOI equipment. The increasing interest shown by firms based outside of Asia in the Asian semiconductor market, together with the growing number of new product releases, will work in favor of the regionalization of the industry.

By Region

North America

U.S.

Canada

Rest of North America

Europe

France

UK

Spain

Germany

Italy

Rest of Europe

Asia Pacific

China

Japan

India

South Korea

Rest of Asia Pacific

The Middle East & Africa

Saudi Arabia

South Africa

Rest of the Middle East & Africa

Latin America

Brazil

Argentina

Rest of Latin America

Automated Optical Inspection (AOI) Equipment Market: Growth Opportunities

The automated optical inspection equipment industry is set to capitalize on the increasing number of product launches in the commercial market and the integration of advanced systems. These developments offer significant growth opportunities, enabling end-users to overcome various performance limitations associated with AOI equipment. For example, in May 2022, Saki Corporation, a prominent player in the X-ray and automated optical inspection equipment sector, unveiled a cutting-edge 3D AOI system. This next-generation system boasts high-precision and high-speed capabilities, making it ideal for intricate analysis and inspection of high-density PCBs, as well as tall or very small components. The new system is expected to revolutionize the industry by reducing inspection cycles and providing ultra-sharp high-definition 3D images.

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