CHICAGO – The automated optical inspection system market is estimated to be worth $444 million in 2018 and is expected to reach $1.64 billion by 2024, a CAGR of 24.3% during 2018-2024, says MarketsandMarkets.

Factors fueling growth include growing demand for consumer electronics, increasing need for high-quality electronic components, and demand for higher productivity by EMS companies.

2-D AOI is the most widely used inspection technology by EMS providers. The most advanced 2-D AOI systems are equipped with multiple ultra-high-res cameras with 10-15MP resolution, high-precision telecentric lenses, and multitiered lighting technology, says the research firm.

The increasing demand for small and more sophisticated electronic gadgets has driven the consumer electronics manufacturing companies to implement newer technologies into their devices. Several such new technologies include smaller passive components, powerful and power-efficient ICs, and sensors. The increasing preference for having one device with multiple functionalities has made the architecture of the modern-day electronic devices, such as smartphones, laptops, and wearable devices, more complex. The increased complexity of these devices raises the demand for advanced AOI systems. Further, with the rise in the adoption of 3-D inspection technology, AOI systems are likely to play a vital role in maintaining high-quality standards with these complex consumer electronic devices, says MarketsandMarkets.

Countries in APAC such as China, South Korea, and Japan command a majority of electronic components manufacturing. China contributes to nearly half of the global electronic production and is one of the largest exporters of electronic products in the world. Favorable government policies and low production costs create tremendous growth opportunities for multinational and startup electronics companies in China.

Under the Made in China 2025 campaign, the Chinese government aims to strengthen its domestic manufacturing capabilities. For instance, in February 2018, the municipal government of Chongqing, Tsinghua Unigroup and Sino IC Capital entered an agreement to set up an IC investment firm with a capital of $15.8 billion. The joint venture will invest up to $100 billion in IC manufacturing bases of Tsinghua Unigroup in the next 10 years.

Moreover, South Korea has a dynamic manufacturing sector, with world-class infrastructure and a highly skilled workforce. Consumer electronics and automotive are a few of the major industries contributing to the South Korean economy. Per the Korea Electronics Association, South Korea overtook Japan to be the third-largest electronics manufacturer in the world for the first time in 2017, says the fim.

Major players involved in the AOI system market include Koh Young (South Korea), Test Research (Taiwan), Omron (Japan), Mirtec (South Korea), Viscom (Germany), Camtek (Israel), CyberOptics (US), Daiichi Jitsugyo (Japan), Nordson (US), Orbotech (Israel), Goepel Electronic (Germany), Marantz Electronics (Netherlands), Machine Vision Products (US), Saki (Japan), and Vi Technology (France).

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