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Optical Sorter Market Share - Industry Size Report 2018-2023

Optical Sorter Market by Type & Application - Global Forecast 2023 | MarketsandMarkets

United States, 12 February 2019 -- [156 Pages Report] Optical Sorter Market categorizes global 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.

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.

https://www.marketsandmarkets.com/Market-Reports/optical-sorter-market-62115020.html

This report segments the optical sorter market based on type, platform, application, and region. The optical sorter market, based on type, has been segmented into cameras, lasers, NIR sorters, and hyperspectral cameras and combined sorters. 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

The optical sorter market based on platform has been segmented into freefall, lane, belt, and hybrid. The market for belt platform is expected to grow at the highest rate during the forecast period. Belt sorting equipment is widely used in various applications, such as food, recycling, and mining, as they provide higher sorting accuracy and a low carryover ratio. Belt sorting equipment has high-performance capabilities for fresh, frozen, and dried vegetables; fruits; processed potato products; and nuts. This process minimizes the risk of food contamination further down the line and leads to improved product quality.

The optical sorter market based on application has been segmented into food, recycling, and mining. The food applications segment is further divided into different types such as vegetable & fruit, dried fruits & nuts, meat & seafood, grains, cereals, and pulses. The food applications segment is expected to dominate the optical sorter market during the forecast period. The growing demand for high-quality food products with shorter delivery cycles and growing automation are the major factors driving growth in this application segment

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.

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Major players in this market include 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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MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

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Submitted by stevestark002 on Tuesday, 12 February 2019 at 3:29 PM
Category: Consumer Technology
 
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