Sarasota, FL -- (SBWIRE) -- 09/10/2018 -- Zion Market Research has published a new report titled "Automated Optical Inspection Market by Type (2D AOI Systems and 3D AOI Systems), by Technology (Inline AOI Systems and Offline AOI Systems), by Components (Camera Systems, Lighting Systems, Computer Systems, and Software), and by Application (Aerospace & Defense, Automotive, Consumer Electronics, Industrial Electronics, Medical Devices, Telecommunication, and Energy & Power): Global Industry Perspective, Comprehensive Analysis and Forecast, 2017 - 2024". According to the report, the global automated optical inspection market accounted for USD 427.1 million in 2017 and is expected to reach USD 1,376.9 million by 2024, growing at a CAGR of around 18.2% between 2018 and 2024.

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Automated optical inspection is globally deployed in surface mount technology assembly lines. Automated optical inspection helps in detection of numerous points on the surface that is to be detected and further these points are analyzed to identify any defects in goods produced. AOI systems provide improved inspection accuracy and speed. AOI devices are fast and offer inspection consistency. AOI systems also offer several benefits that include labor costs, reduction in the manpower, and increase in the throughput per machine. The other advantages that AOI systems offer are the increase in the accuracy of inspection reporting and reduction in errors along with reduced customer claims.

The global automated optical inspection market is primarily driven by the increase in the demand for high-quality products that encourage manufacturers to implement automated optical inspection systems in the printed circuit board (PCB) manufacturing. On a contrary, rising demand for the BGA (Ball Grid Array) technology in PCB manufacturing is predicted to limit the growth of the automated optical inspection market in the analysis period. Further, the rapid growth of electronics in the automotive industry has contributed to the growth of the automated optical inspection market. Nonetheless, the transformation of industry 4.0 and IoT is predicted to open up new alluring opportunities for the growth of the automated optical inspection market in the near future.

By type, the automated optical inspection market is segmented into 2D AOI systems and 3D AOI systems. 3D AOI systems emerged as the fastest growing segment in the overall automated optical inspection market over the forecast period. This is due to several advantages that include detecting lifted leads, the capability of inspection of co-planarity of elements, and reduction in the false call rates contributes to the growth of the 3D AOI systems.

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Automated optical inspection systems vary in terms of technology that is used for the detection purpose. Inline AOI systems are used for inspecting components on a fast-moving production line and the offline AOI systems are used for detection of the products in batches.

By application, the automotive sector is estimated to witness the highest CAGR that is followed by the consumer electronics and medical devices in the automated optical inspection market. The automotive industry is growing owing to the increase in the demand for high-performance electronic elements that are used in safety-critical systems that include advanced driver assistance systems (ADAS), airbags, and braking systems.

Asia Pacific held the highest market share in 2017 owing to the increase in the demand for high-quality products that further opens up new opportunities for the manufacturers to implement AOI systems in PCB manufacturing. Presently, North America automated optical inspection market is growing at the fastest CAGR due to the technology-oriented population. Europe is expected to witness a significant growth in the automated optical inspection market due to the significant growth in the automotive industry that resulted in the high demand for the AOI systems.

The noticeable players in the automated optical inspection market are Camtek Ltd., Omron Corporation, Nordson Corporation, Orbotech Ltd., Saki Corporation, Cyberoptics Corporation, Daiichi Jitsugyo Co., Ltd. (DJK), Koh Young Technology Inc., Test Research Inc. (TRI), Viscom AG, AOI Systems Ltd., Goepel Electronic GmbH, Machine Vision Products Inc., Mirtec Co., Ltd., and VI Technology, among others

Browse the full "Automated Optical Inspection Market" report at https://www.zionmarketresearch.com/report/automated-optical-inspection-market

This report segment of the global automated optical inspection market as follows:

Global Automated Optical Inspection Market: Type Segment Analysis

2D AOI Systems
3D AOI Systems

Global Automated Optical Inspection Market: Technology Segment Analysis

Inline AOI Systems
Offline AOI Systems

Global Automated Optical Inspection Market: Components Segment Analysis

Camera Systems
Lighting Systems
Computer Systems
Software

Global Automated Optical Inspection Market: Application Segment Analysis

Aerospace & Defense
Automotive
Consumer Electronics
Industrial Electronics
Medical Devices
Telecommunication
Energy & Power