The "Optical Sorter Market by Type (Camera, Laser, NIR Sorter, and Hyperspectral Camera & Combined Sorters), Platform (Belt, Freefall, Lane, and Hybrid), Application (Food, Recycling, and Mining), and Geography - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
The optical sorter market is estimated to be worth at USD 1.63 Billion in 2017 and is expected to reach USD 2.87 Billion by 2023, growing at a CAGR of 9.8% between 2017 and 2023.
The growth of this market can be attributed to the growing focus on automation to increase productivity in various industries, increasing need to reduce process and delivery time in the food industry, rising labor costs, and stringent government regulations regarding food safety.
North America is expected to dominate optical sorter market, by geography. This is due to the high demand for optical sorters in the US food industry. North America was one of the first key regions to adopt automated equipment in the food industry. Hence, food companies are more inclined and open to adopting automated equipment like optical sorters to increase productivity and maximize yield. This is one of the major driving factors for the growth of the North American optical sorter market. Another important factor is the presence of stringent regulations for food safety in North American countries. Food companies need to comply with regulations and standards that are more achievable through automation.
Market Dynamics
Drivers
- Growing Focus on Automation to Increase Productivity in Various Industries
- Increasing Need to Reduce Process and Delivery Time in the Food Industry
- Rising Labor Costs
- Stringent Government Regulations Regarding Food Safety
Restraints
- High Initial Capital Investment
Opportunities
- Advancements in Detection Technologies and Intelligent Software
- Growing Adoption of Sorting Equipment in the Recycling Industry
Challenges
- Difficulties in Sorting Plastic Waste
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Optical Sorter Market, by Type
7 Optical Sorter Market, by Platform
8 Optical Sorter Market, by Application
9 Geographic Analysis
10 Competitive Landscape
11 Company Profiles
- Allgaier Werke
- ASM Srl
- Binder
- Buhler
- Cimbria
- Cp Manufacturing
- EMS Turnkey Waste Recycling Solutions
- Fowler Westrup
- Greefa
- Key Technology
- National Recovery Technologies
- Newtec
- Pellenc St
- Raytec Vision
- Redwave Solutions
- Satake
- Sesotec
- Steinert
- Tomra
- ZXY Technology
For more information about this report visit https://www.researchandmarkets.com/research/l6z88k/2_8_billion?w=4
View source version on businesswire.com: http://www.businesswire.com/news/home/20180125006233/en/