Northbrook, IL 60062 -- (SBWIRE) -- 10/20/2023 -- The automated optical inspection market was valued at USD 598 million in 2020 and is projected to reach USD 1,660 million by 2026. It is expected to grow at a CAGR of 20.8% during the forecast period.
Advantages of AOI over other inspection methods, upsurge in the demand for consumer electronics amidst pandemic, rising need for miniature, high-speed PCBs, demand for higher productivity by electronics manufacturing services (EMS) companies, and growing demand for electronics in automotive sector are contributing to the growth of the automated optical inspection market. Advent of SMART technology, newer applications of AOI systems apart from PCB inspection, and growing demand for AOI systems for inspection of IC substrates act as a growth opportunity for the market players.
Koh Young (South Korea), Test Research, Inc. (TRI) (Taiwan), Omron (Japan), Camtek (Israel), Viscom (Germany), Saki Corporation (Japan), Nordson (US), KLA (US), Cyberoptics (US), and Goepel Electronics (Germany) are the key players in the automated optical inspection market. These top players have strong portfolios of products and services and presence in both mature and emerging markets.
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Koh Young Technology is among the leading manufacturers of AOI systems across the world. The company focuses on its R&D efforts to maintain its leading position in the field of optical inspection. In FY20, the company invested 17.9% of its overall revenue in R&D activities. Apart from R&D, the company has been implementing strategies such as partnerships and collaborations to rapidly expand its business operations worldwide. For example, in November 2020, Qualitel partnered with Koh Young for the Zenith Series Automated Optical Inspection (AOI) solutions. In 2020, Koh Young announced its collaboration with Mentor, a Siemens business, to deliver an enhanced programming solution, which will benefit the AOI market.
TRI offers the most robust product portfolio in the industry for automatic test and inspection solutions. The company's product line-up is in line with the latest technological trends in industries, such as Industry 4.0 and smart factory applications. Its highly sophisticated after-sales services have also allowed it to gain recognition among world-class electronics manufacturing companies. Moreover, the company continually works toward upgrading and launching new AOI systems through its R&D activities. For example, in December 2020, Test Research, Inc. (TRI) announced the release of the high-reliability TR77000QM SII 3D AOI. The TR7700QM SII is built on a high precision platform with 5.5 µm high resolution 12 MP imaging technology for the semiconductor & packaging and other high-reliability industries.