Automatic Visual Inspection Systems Market Share
The Business Research Company recently released a comprehensive report on the Global Automatic Visual Inspection Systems Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.
According to The Business Research Company’s, The automatic visual inspection systems market size has grown rapidly in recent years. It will grow from $14.61 billion in 2023 to $16.69 billion in 2024 at a compound annual growth rate (CAGR) of 14.2%. The growth in the historic period can be attributed to rising demand for quality inspection in technology and non-destructive testing, rising demand for AVI systems, improvement in defect detection, increased focus on safety, demand for real-time insights.
The automatic visual inspection systems market size is expected to see rapid growth in the next few years. It will grow to $26.71 billion in 2028 at a compound annual growth rate (CAGR) of 12.5%. The growth in the forecast period can be attributed to increasing demand for quality control and inspection in manufacturing, demands for quality assurance, increases in production volumes, increasing acceptance and investments in industry 4.0, increasing application in the automobile sector. Major trends in the forecast period include technological advancements in machine vision technology, integration of advanced technologies and systems, advanced AVIS technologies, integration of automation inspection systems into production processes, adoption of industry 4.0 principles for data-driven insights.
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Market Drivers and Trends:
The increasing adoption of Industry 4.0 and smart factory concepts is expected to propel the growth of the automatic visual inspection systems market going forward. Industry 4.0 and smart factory concepts involve integrating advanced technologies, such as IoT, artificial intelligence, and automation, to create interconnected, intelligent, and efficient industrial systems. Industry 4.0 and smart factories leverage automatic visual inspection systems to enhance quality control and efficiency through real-time, data-driven analysis of production processes. For instance, in May 2022, according to a survey of 321 manufacturers conducted by Rockwell Automation, Inc., a US-based provider of industrial automation and digital transformation technologies, the adoption of smart factory technologies witnessed a remarkable 50% year-over-year growth. Moreover, 74% of surveyed manufacturers are either utilizing or planning to integrate artificial intelligence into their manufacturing operations. Additionally, 83% of manufacturing professionals will upgrade their modernization processes into smart factories. Therefore, the increasing adoption of Industry 4.0 and smart factory concepts is driving the growth of the automatic visual inspection systems market.
Major companies operating in the automatic visual inspection systems market are focused on developing innovative solutions, such as Cohu’s DI-Core analytics platform, to sustain their position in the market. Cohu’s DI-Core analytics platform is an artificial intelligence (AI) based inspection software that enhances visual inspection accuracy. It is a cutting-edge system designed to improve equipment performance and address Industry 4.0 and factory automation initiatives in the semiconductor manufacturing industry. For instance, in November 2023, Cohu Inc., a US-based semiconductor test handling equipment provider, launched Cohu’s DI-Core analytics platform, a new artificial intelligence (AI) inspection software. It offers real-time processing, enhancing visual inspection accuracy for semiconductor manufacturers operating at production speeds. It distinguishes micro-scale defects from cosmetic patterns more accurately than existing methods, utilizing proprietary deep learning and neural network technologies. This product aims to boost inspection yield without compromising quality.
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Major Key Players of the Market:
Hitachi Ltd., Mitsubishi Electric Corporation, Nidec Corporation, Atlas Copco AB , KLA Corporation, OMRON Corporation, Keyence Corporation, FANUC Corporation, Zebra Technologies Corporation, Teledyne Technologies Incorporated, Mettler-Toledo International Inc., SICK AG., National Instruments Corporation, Syntegon Technology GmbH, Stevanato Group, Cognex Corporation, Datalogic S.p.A., Basler AG, Vitronic Machine Vision Ltd., Stemmer Imaging Ltd., ViTrox Corporation, Baumer Inspection GmbH, Pleora Technologies Inc., Viscom AG , ISRA Vision GmbH, ASC International, NDC International, Qualitas Technologies, VisionGauge, Shanghai VisionTech
Automatic Visual Inspection Systems Market 2024 Key Insights:
• The automatic visual inspection systems market is expected to grow to $26.71 billion in 2028 at a compound annual growth rate (CAGR) of 12.5%.
• Rapid Growth Of Automatic Visual Inspection Systems Market Fueled By Surging Adoption Of Industry 4.0 And Smart Factory Technologies
• Innovative AI Inspection Software Revolutionizes Semiconductor Manufacturing
• Asia-Pacific was the largest region in the automatic visual inspection systems market in 2023.
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