Optical sorter market expected to grow at a CAGR of 9.8% between 2017 and 2023.
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The optical sorter market is expected to be worth USD 1.63 billion in 2017 and is expected to reach USD 2.87 billion by 2023, at a CAGR of 9.8% between 2017 and 2023. Major players operating in the Optical Sorter Market are TOMRA (Norway), Buhler (Switzerland), Key Technology (US), Binder (Austria), Satake (US), Allgaier Werke (Germany), Cimbria (Denmark), CP Manufacturing (US), GREEFA (Netherlands), NEWTEC (Denmark), National Recovery Technologies (US), Pellenc ST (France), Raytec Vision (Italy), Sesotec (Germany), and STEINERT (Germany).
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Key Target Audience:
• Component and material providers
• Optical sorter manufacturers and suppliers
• Research organizations and consulting companies
• Associations, alliances, and organizations related to optical sorters
• Analysts and strategic business planners
• End users of optical sorters across various industries such as food, recycling & waste management, and mining
Growing focus on automation to increase productivity in various industries and the increasing need to reduce process and delivery time in the food industry are key factors contributing to the growth of the optical sorter market during the forecast period.
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“The hyperspectral cameras and combined optical sorters market is expected to grow at the highest CAGR during the forecast period.”
The market for hyperspectral cameras and combined sorters is expected to grow at the highest CAGR between 2017 and 2023.This technology increases FM and/or EVM removal, often achieving efficiency with very low false reject rates. Hence, hyperspectral and combined sorters are expected to create opportunities in food and recycling applications in the coming years.
“Food application held the largest share of the optical sorter market in 2016.”
Food application held the largest share of the optical sorter market in 2016.The growing demand for high-quality food products with shorter delivery cycles and growing automation are major factors driving growth in this application segment.
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“The optical sorter market in APAC expected to grow at the highest CAGR during the forecast period.”
The optical sorter market in APAC is expected to grow at the highest CAGR between 2017 and 2023.In APAC, industries are focusing on automation to increase productivity and quality. Growing automation in the application areas of the market is also expected to create demand for optical sorters in this region. Other concerns supporting the adoption of automation in APAC countries include labor shortage and increasing labor costs.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews have been conducted with people holding key positions across several regions. The breakup of the profiles of primary participants has been given below:
• By Company Type: Tier 1 – 27%, Tier 2 – 49%, and Tier 3 – 24%
• By Designation: C-Level Executives – 32%, Directors– 43%, and Others – 25%
• By Region: North America–43%, Europe – 38%, APAC – 12%, and RoW– 7%
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Source: MarketersMedia
Release ID: 403682
