The company has demonstrated an unrivaled ability to understand the complexity of electronics assembly as well as key customer needs
MOUNTAIN VIEW, Calif., Nov. 4, 2013 -- Based on its recent analysis of the surface mount technology (SMT) automatic optical inspection (AOI) market, Frost & Sullivan recognizes MIRTEC Co. Ltd. with the 2013 North American Frost & Sullivan Award for Company of the Year. MIRTEC is a pioneer in 3D AOI technology and has demonstrated an ability to provide innovations ahead of its peers, allowing it to command premium prices in a cost-conscious market. It stands head and shoulders above its competition in addressing the constantly evolving complexity within electronics assembly. This singular focus on technology helped its annual revenue for 2012 increase by more than 15 percent in a market where Tier 1 companies are struggling to grow.
MIRTEC's products cater to diverse vertical markets and a customer base that ranks product quality, inspection speeds, reduced false call rates, and increased throughput ahead of price. Its products not only offer substantial return on investment but also unmatched brand value, which has enabled it to acquire key accounts from its competitors, especially in the automotive industry.
Meanwhile, as the electronics industry is transitioning toward miniaturization and micro ball grid arrays, MIRTEC is adopting new technologies that impact electronics assembly. Already, its 3D AOI equipment's features and technology are peerless; it has strengthened its competitive position by ramping up its own camera division as well. Headquartered in the USA, MIRTEC's Camera Divsion, ISVI Corp, is a leading supplier of High-Speed, High-Resolution Industrial Camera Systems servicing a wide range of applications such as Microscopy, Machine Vision, Factory Automation, Robotics, Medical, and more. Customers include O.E.M.'s, system integrators, end-users, researchers, and developers.
"The company's advanced cameras are based on CoaXPress technology, a high-speed, point-to-point, serial communication standard for the transmission of video," said Frost & Sullivan Research Analyst Lavanya Rammohan. "This interface technology combines the simplicity of coaxial cable with state-of-the-art, high-speed serial data technology to offer a revolutionary leap forward in high-speed image and data transmission."
Recently, MIRTEC introduced a 25-megapixel CoaXPress camera that was designed for the AOI market to meet specific inspection demands such as faster inspection speed and high inspection quality. The technology roadmap that MIRTEC offers its customers, coupled with its ability to embrace and inspect the latest electronics technology, sets MIRTEC apart in the market.
MIRTEC has also been well served by its ability to tie in product development excellence with customer needs. The company leverages its instinctive understanding of its customers' dynamic needs to provide best-in-class solutions and outpaces the competition by delivering superior-quality service and support.
The company's main focus is on developing the absolute best inspection equipment in the industry, dynamically addressing customer needs, and enhancing customer service with a strong sales and support network. Frost & Sullivan's research has shown that customers clearly appreciate the robustness of MIRTEC's products and support through the lifetime of their ownership.
"Frost & Sullivan fully expects that the quality, reliability, and flexibility of MIRTEC's AOI equipment will help the company benefit from the growing demand for 3D and 2D-3D combination technology," noted Rammohan. "Its product lines are well-suited for high-volume as well as low-to-medium volume manufacturing, making them perfect for a wide range of markets."
Brian D'Amico, President of MIRTEC's North American Sales and Service Division stated: "We are very proud to accept the 2013 Frost & Sullivan Company of the Year Award on behalf of MIRTEC's extremely talented team of engineering, sales and service professionals for their outstanding performance in the design and development of our Technologically Advanced products and support of our valued customers. We are confident that our business practices will serve to set a new standard by which all other inspection equipment manufacturers will be measured."
Each year, Frost & Sullivan presents this award to the company that has demonstrated excellence in terms of growth strategy and implementation. The award recognizes a high degree of innovation with products and technologies, and the resulting leadership in terms of customer value and market penetration.
Frost & Sullivan Best Practices Awards recognize companies in a variety of regional and global markets for demonstrating outstanding achievement and superior performance in areas such as leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analysis, and extensive secondary research in order to identify best practices in the industry.
About MIRTEC Co. Ltd.
MIRTEC is a leading global supplier of automated inspection systems to the electronics manufacturing industry. The company manufactures technologically advanced AOI, SPI and LED inspection systems designed to provide unprecedented performance, quality and cost-effectiveness to the inspection environment.
About Frost & Sullivan
Frost & Sullivan, the Growth Partnership Company, works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today's market participants.
Our "Growth Partnership" supports clients by addressing these opportunities and incorporating two key elements driving visionary innovation: The Integrated Value Proposition and The Partnership Infrastructure.
The Integrated Value Proposition provides support to our clients throughout all phases of their journey to visionary innovation including: research, analysis, strategy, vision, innovation and implementation.
The Partnership Infrastructure is entirely unique as it constructs the foundation upon which visionary innovation becomes possible. This includes our 360 degree research, comprehensive industry coverage, career best practices as well as our global footprint of more than 40 offices.
For more than 50 years, we have been developing growth strategies for the global 1000, emerging businesses, the public sector and the investment community. Is your organization prepared for the next profound wave of industry convergence, disruptive technologies, increasing competitive intensity, Mega Trends, breakthrough best practices, changing customer dynamics and emerging economies?