TMR Updates Optical Sorters Market Forecast and Analysis as Corona Virus Outbreak Disturbs Investment Plans

The global optical sorters market was valued at US$ 1,368.1 Mn in 2017 and is projected to expand at a compound annual growth rate (CAGR) of more than 10.0% from 2018 to 2026, according to a new report published by Transparency Market Research (TMR) titled “Optical Sorters Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026.” Cost reduction and increase in productivity through automation, growing labor costs, and stringent government regulations pertaining to food safety are primary factors that are expected to boost the market during the forecast period. For instance, automation technologies and solutions are being implemented in numerous industries to eliminate human error, minimize energy consumption, for product quality consistency with cleaner energy, and for efficient data collection and consolidation. Increase in productivity and speed with automation results in shorter delivery time and efficient business operations. Industries such as food, mining, and recycling are witnessing significant adoption of various types of optical sorters for optimized operations.

For More Info | Download PDF Brochure, Click Here: https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=45429

Significant initial capital investment can hamper the optical sorters market

Optical sorters are the result of integration of various advanced and sensor based technologies including high resolution cameras, Near-infrared (NIR) spectroscopy, laser, Shortwave Infrared (SWIR), X-ray, and Biometric Signature Identification (BSI). These technologies provide optimum precision, efficiency, and speed compared to traditional sorting technologies. Nonetheless, prices of such technologically advanced machines are significantly higher which impacts their use in many industries particularly small and medium enterprises.

Food processing segment is expected to hold significant market share during the forecast period

In terms of end-use, the optical sorters market is segmented into food processing, tobacco processing, waste recycling, mining, and others. The waste recycling segment is expected to expand at a significant CAGR of approximately 11% during the forecast period. However, the food processing segment is anticipated to hold a prominent share of the market during the forecast period. Growth in demand from consumers for high quality food products, and stringent government regulations pertaining to food safety and food quality are some of the major reasons for revenue generation from the food processing segment.

Optical sorters market in North America expanding at a rapid pace

The market in North America is expected to expand at a considerable CAGR during the forecast period. The factors contributing to the expansion of the market in North America are rise in merger and acquisition activities and significant growth in adoption of optical sorters in waste recycling plants. For instance, in June 2017, Penn Waste, Inc., a Pennsylvania, U.S.-based commercial and residential waste recycling and removal services provider, introduced NRT MetalDirector and NRT optical sorters in its materials recovery facility (MRF). The new system integration will improve output material purity and throughput to more than 45 tph (tons per hour). Penn Waste is one of the early adopters of Max-AI technology of National Recovery Technologies, a company that uses artificial intelligence to detect non PET (polyethylene terephthalate) items from waste.

Request For Covid19 Impact Analysis Across Industries And Markets – https://www.transparencymarketresearch.com/sample/sample.php?flag=covid19&rep_id=45429

Key players such as TOMRA Systems ASA, Buhler AG, Key Technology, Binder+Co AG, and Satake Corporation likely to lead the optical sorters market

TOMRA Systems ASA, Buhler AG, Key Technology, Binder+Co AG, and Satake Corporation are some of the major players operating in the optical sorters market, profiled in this study. Various companies are establishing partnerships, and are carrying out strategic expansions to enhance their optical sorters offerings worldwide. For instance, in February 2018, one of the leading providers of collection and sorting solutions, Tomra Systems, signed an agreement to acquire 100% shares of BBC Technologies. BBC Technologies specializes in the design, development, manufacture, and installation of sorting, optimizing, and packaging solutions. The acquisition will further boost Tomra’s market position in sorting, grading, and packaging solutions for packaged, processed, and fresh foods.

Global Optical Sorters Market Segmentation

Global Optical Sorters Market, by Component

Products
Services
- Consulting
- Repair and Maintenance
- Training

Global Optical Sorters Market, by Type

Camera
Laser
NIR
X-ray
Combined
Others

Global Optical Sorters Market, by End-use

Food Processing
Tobacco Processing
Waste recycling
Mining
Others

Global Optical Sorters Market, by Geography

North America
- The U.S.
- Canada
- Rest of North America
Europe
- The U.K
- Germany
- France
- Rest of Europe
Asia Pacific (APAC)
- China
- India
- Australia
- Rest of APAC
Middle East & Africa (MEA)
- GCC Countries
- South Africa
- Rest of MEA
South America
- Brazil
- Rest of South America

Customization of the Report: This report can be customized as per your needs for additional data or countries. – https://www.transparencymarketresearch.com/sample/sample.php?flag=CR&rep_id=45429

Related Reports Press-Release –

About Us

Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants, use proprietary data sources and various tools and techniques to gather, and analyze information.

Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.

Contact

Transparency Market Research,

90 Sate Street, Suite 700,

Albany, NY 12207

Tel: +1-518-618-1030

USA – Canada Toll Free: 866-552-3453

Email: [email protected]

Website: https://www.transparencymarketresearch.com/