Printed Circuit Board Inspection Equipment Market Size

Statistics for the 2023 & 2024 Printed Circuit Board Inspection Equipment market size, created by Mordor Intelligence™ Industry Reports. Printed Circuit Board Inspection Equipment size report includes a market forecast to 2029 and historical overview. Get a sample of this industry size analysis as a free report PDF download.

Market Size of Printed Circuit Board Inspection Equipment Industry

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Printed Circuit Board Inspection Equipment Market
Study Period 2019 - 2029
Base Year For Estimation 2023
CAGR 6.80 %
Fastest Growing Market Asia Pacific
Largest Market North America
Market Concentration High

Major Players

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*Disclaimer: Major Players sorted in no particular order

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PCB Inspection Equipment Market Analysis

The Printed Circuit Board Inspection Equipment Market is expected to register a CAGR of 6.8% during the forecast period. The quality of PCB determines the quality and reliability of the final product. Hence PCB inspection plays a crucial role in finalizing the PCB's functionality and strength.

  • The density and diversity of printed circuit boards are increasing due to improvements in production technology. As such, there is a need for accurately identifying defects on PCBs, apart from manual vision inspection. Machine inspection methods help in better quality and higher yield of the PCB. In addition, the growing production of printed circuit boards (PCB) and increasing complexity in PCB manufacturing due to the growing industrial adoption are some of the major factors driving the demand for PCB inspection equipment over the forecast period. The ever-increasing product advancement motivates companies to invest in the market studied.
  • In August 2021, Nordson Corporation announced plans to acquire NDC technologies, a provider of precision measurement solutions and in-line manufacturing process control, to expand the formers test and inspection platform. Thus, favoring technological advancements for PCB inspection equipment.
  • According to the Consumer Technology Association, U.S. tech industry revenue will reach a record-breaking USD 487 billion in 2021, a 7.5% jump YoY. Moreover, Smartwatches demand is projected to grow by 8% in unit shipments, essentially driven by tech-savvy and fashion-conscious consumers, likely contributing to the overall PCB demand.
  • Further, the market-studied players are also investing in product innovation, as the need for PCBs for different industries is dynamic. This is also expected to expand the scope of the market studied. For instance, in November 2021, Omron launched the PCB inspection system VT-S10 Series which features AI to automate high-precision inspection processes for PCB sub-assemblies. This helps the users to eliminate the need for special operator skills.
  • Moreover, According to a report published by Sullivanmaine.org in June 2021, the interest in smartwatches among the 65+ population is expected to increase in the coming years. According to an Apple Watch insider, the report also mentioned that at least 3-5 million Apple Watches have been purchased by adults age 65+. Thus, driving the need for PCB inspection equipment.
  • The growing demand for miniaturization has led to the increasing PCB design complexity. This has led to a proportional PCB inspection failure rate, challenging the market demand.
  • Furthermore, the electronics device sector is anticipated to be impacted significantly by the COVID-19 outbreak, as China is one of the major suppliers of raw materials and finished products. The industry faced a reduction in production, disruption in the supply chain, and price fluctuations. Further, the sales of prominent electronic companies were affected during the period. The travel restriction on both people and products hampered the market's growth in the short run.

PCB Inspection Equipment Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)