Automated Optical Inspection Market Size

Automated Optical Inspection Market size is estimated to cross USD 2.68 Billion by the end of 2036, growing at a CAGR of 10% during the forecast period, i.e., 2024-2036. In the year 2023, the industry size of automated optical inspection was over USD 777 Million. The growth of the market is due to industry 4.0 concepts being integrated, resulting in increased connectivity and data-driven insights in AOI. For instance, spending on the Internet of Things (IoT) in Europe surpassed USD 202 billion in 2021, according to the International Data Corporation's (IDC) Worldwide Semiannual Internet of Things Expenditure Guide. Through 2025, it is anticipated to rise at a double-digit rate. According to projections, the global annual generation of data is expected to surpass 180 trillion gigabytes by 2025. The industries that are enabled by IIoT will produce most of this.

In addition, AOI systems enable real-time error identification, guaranteeing the preservation of the product's quality. These systems can also give the operator feedback based on previous data and production statistics, which helps to streamline the manufacturing process and reduce expenses related to labor, supplies, and time. These factors should encourage market expansion and increase the use of AOI systems in the industrial sectors.