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(Chicago.CityRegions.Com, March 20, 2017 ) According to the new market research report "Automated Optical Inspection System Market by Type (2D AOI Systems, 3D AOI Systems), Technology, Element, Application (Consumer Electronics, Telecommunication, Automotive, Medical Devices), and Geography - Global Forecast to 2022", the AOI system market is expected to reach USD 1,008.8 Million by 2022, at a CAGR of 17.1% between 2016 and 2022. The factors that are driving the growth of market include rising demand for high-quality electronic components, increased complexity of PCBs, increasing demand for consumer electronics, and proliferation of electronics in the automotive industry.
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“3D systems to be the fastest-growing market in the overall AOI system market during the forecast period“
The 3D AOI system market is expected to be the fastest-growing market between 2016 and 2022. The growth is attributed to the rising demand from electronic manufacturers for high-quality electronic components in applications such as aerospace & defense, automotive, and medical devices.
“The automotive application expected to grow at the highest rate between 2016 and 2022”
The increased use of electronics with the introduction of new technology in the automotive industry such as electric vehicles, smart cars, and in-car infotainment systems have significantly contributed to the growth of the AOI system market in the automotive application.
“APAC expected to dominate the AOI system market between 2016 and 2022”
Countries such as China, Japan, and Taiwan are majorly driving the growth of AOI system market in Asia-Pacific. These countries have a considerable market size and scope for the development of the AOI system. The economies of these countries are majorly dominated by the electronics industry. Further, the availability of cost-effective manufacturing infrastructure, cheap skilled labor, and favorable government initiatives have helped the AOI system market to hold a major share in the APAC region.
The major players involved in the AOI system market include Camtek Ltd. (Israel), Nordson Corporation (U.S.), Omron Corporation (Japan), Orbotech Ltd. (Israel), Saki Corporation (Japan), CyberOptics Corporation (U.S.), Daiichi Jitsugyo Co., Ltd. (Japan), Koh Young Technology Inc. (South Korea), Test Research Inc. (Taiwan), Viscom AG (Germany), AOI Systems (U.K.), Goepel Electronic GmbH (Germany), Machine Vision Products (U.S.), Mirtec Corporation (U.S.), and Vi Technology (France).