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Automated Optical Inspection System Market to See CAGR of 17.1% between 2016 and 2022.
September 8, 2016 | PRNewswireEstimated reading time: 1 minute
Research and Markets has announced the addition of the "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" report to their offering.
The automated optical inspection (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 key driving factors for the growth of the Automated Optical Inspection (AOI) systems market are rising demand for high-quality electronic components, growing industry trends for smart manufacturing, and high demand for electronic products.
2D AOI systems expected to account for a major share in 2016 of the overall AOI system market. The 2D AOI system is cost-effective and flexible inspection technology. Additionally, the ease of programming and technological advancements has enabled 2D AOI systems to become widespread in the market.
The consumer electronics application expected to account for the largest market share of the overall AOI system market in 2016. The major factors driving the market are the increasing complexity of consumer electronic devices with highly sophisticated electronic components. The small size of these components and the reduction in the size of PCBs need the efficient inspection, which has given a boost to the highly efficient AOI system market.
High demand for electronics equipment from industries such as consumer electronics, medical devices, aerospace & defense, and automotive is the main driving force behind the growth of North America. The advancements in PCB technologies need faster inspection of miniature components which is expected to drive the growth of the AOI system market in North America.
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