Market Size in 2021 | Market Forecast in 2028 | CAGR (in %) | Base Year |
---|---|---|---|
USD 571.6 Million | USD 2,960.4 Million | 19.5% | 2021 |
FrequentlyAsked Questions
Demand for modern consumer electronic appliances and goods has increased as a result of factors such as urbanization and increased disposable income. Simultaneously, there is an increase in demand for long-lasting, high-quality items at a reasonable price. Electronic manufacturing factories are springing up all over the world as the demand for consumer electronics grows tremendously. The growing demand for improved goods has prompted PCB producers to invest in more cost-effective production procedures. As a result, PCB manufacturers have implemented AOI systems in their production lines to increase product quality and reduce manufacturing costs.
According to the Zion Market Research report, the global automated optical inspection market was worth about 571.6 (USD million) in 2021 and is predicted to grow to around 2,960.4 (USD million) by 2028, with a compound annual growth rate (CAGR) of around 19.5 percent.
Asia Pacific is the world's biggest producer of printed circuit boards, with the major technologically advanced market such as Taiwan, China, Japan, and South Korea. As the demand for AOI systems with quicker inspection speeds grows, so does the demand for high-volume PCB fabrication in the region. Market expansion in this region is attributed to a combination of low-cost trained labor, a business-friendly climate, cheap manufacturing costs, and expanding demand for electronic equipment.
Test Research, Inc., Koh Young, Omron, KLA, Saki Corporation, Nordson, Camtek, Viscom, Goepel Electronics, and Cyberoptics are among the key players operating in the global automated optical inspection market.
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