Study: Optical sorter market to grow 9% CAGR from 2018-2024
The rising focus on automation to increase the productivity will provide an impetus to the optical sorter market.
The optical sorter market is set to grow from its current market value of more than $1.5 billion to over $3 billion by 2024, according to a report by Global Market Insights, Inc., Ocean View, Del. The rising focus on automation to increase the productivity will provide an impetus to the optical sorter market. Automation in several industrial sectors has led to the development of centralized waste management solutions, which implement image-processing software and high-speed cameras to quickly scan and sort waste materials.
Optical sorters are replacing manual sorting processes in the food industry as a result of rising labor costs, increased shortage in the labor force and an increased demand from consumers who want high-quality systems. The rising labor costs are compelling several industries to implement these systems to perform critical and time-consuming tasks. From receiving raw products to inspecting finished products, these systems are being implemented into the production lines to help inspect production volumes.
In addition, the European optical sorter market will witness a high growth of over 9% CAGR over the forecast time span, owing to the rapid generation of e-waste.
Furthermore, hybrid sorters are witnessing a high demand from the food industry thanks to increasing high hygiene standards in wet and dry food processes. China and Japan are experiencing a high adoption of these advanced sorting solutions thanks to faster technological adoption and rising industrial sector.