Optical Sorter Market Industry Analysis and Forecast (2020-2027)
Global Optical Sorter Market was valued at USD 1.89 Bn in 2019 and is expected to reach at USD 3.94 Bn by 2027, at a CAGR of 9.6% over forecast period 2020-2027.
Optical Sorter Market Drivers and Restrains:
Optical Sorter or Digital sorting is an automated dedicated system utilized for sorting solid products. Sorting is done by sundry parameters & which include objects’ color, size, shape, structural prop, and chemical makeup, agricultural semen, coffee, confectionery, fruit, grains nut, meat, and seafood such as industrial mineral and precious metals.
The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis.
An increasing need to reduce process and distribution time in the victuals industry, growing automation to increment productivity in sundry industries, and stringent regulations regarding aliment safety are the major factors driving the growth of Global Optical Sorter Market. Moreover, factors such as an increasing demand for optical sorters from the U.S and European food industry, rising cost of labor in Europe and Asia Pacific, rising adoption of digital sorting technologies in China and Japan, Adoption of the technology in waste recycling plants in Latin America are driving the growth of optical sorter market over forecast period.
However, higher operation and maintenance cost and high capital investments are restraining the magnification of optical sorter market.
Global Optical Sorter Market Segmentation Analysis:
Global Optical Sorter Market is segmented by Product Type, by Platform, by Application, by Geography.
By application, food industry held the largest share of optical sorter market in 2019 and is expected to keep its dominance over forecast period. An increased demand for good quality food products with a shorter delivery cycle, stringent regulations for food safety, growing automation are major drivers for the growth of food industry application.
By platform, belt sorting platform holds 38.56% of market share over forecast period. Due to high performance capabilities and higher sorting accuracy belt sorting platform is used in various applications such as recycling, mining and food.
By type, hyper spectral camera hold largest market share over forecast period. The hyperspectral camera is digital camera systems that deliver both spatially and spectrally high-resolution images. They are ideal for qualitative and quantitative assessment of test objects based on their specific spectral and geometric signatures.
Global Optical Sorter Market Regional Analysis:
By geography, Global Optical Sorter Market is segmented into North America, Europe, APAC, Latin America and MEA&A. Among all of these North America held 43.56% in 2019 and is expected to keep its dominance over forecast period. Many North American companies have integrated AI technology into an optical sorter equipment for advanced analytics, monitoring, and automation of the processes. Moreover, factors such as higher adoption rate of automated equipment in U.S. victual industry and presence of stringent regulations for pabulum safety are driving market in this region over forecast period. North America is followed by APAC and Europe.
APAC is expected to hold near about 23% of market share over forecast period owing to the growing adoption of intelligent solutions and rapid growth in digitalization in an emerging economies such as China, India and Japan.
The objective of the report is to present a comprehensive analysis of the Global Optical Sorter Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors in the market have been presented in the report.
External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding Global Optical Sorter Market dynamics, structure by analyzing the market segments and project the Global Optical Sorter Market size. Clear representation of competitive analysis of key players by End-User Industry, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Optical Sorter Market make the report investor’s guide.
Years that have been considered for the study are as follows:
• Base Year – 2018
• Estimated Year – 2019
• Forecast Period – 2019 to 2026
For company profiles, 2018 has been considered as the base year. In cases, wherein information was unavailable for the base year, the years prior to it have been considered
Key Players in the Optical Sorter Market Are:
• Key Technology
• Allgaier Werke
• CP Manufacturing
• Pellenc ST
• National Recovery Technologies
• Raytec Vision
Key Target Audience:
• Optical sorter manufacturers and suppliers
• Component and material providers
• Research institutes and organizations
• Government bodies, venture capitalists, and private equity firms
• Market research and consulting firms
• Enterprise data center professionals
Scope of the Optical Sorter Market:
Research report categorizes the Optical Sorter Market based on type, platform, application and geography (region wise). Market size by value is estimated and forecasted with the revenues of leading companies operating in the Optical Sorter Market with key developments in companies and Optical Sorter Market trends.
Optical Sorter Market, By Product Type:
• NIR Sorters
• Hyperspectral Cameras and Combined Sorters
Optical Sorter Market, by Platform:
Optical Sorter Market, By Application:
Optical Sorter Market, By Geography:
• North America
• Asia Pacific
• Middle East & Africa
• Latin America
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