Machine Vision Lighting Market to Grow at a CAGR of 8.0% to reach US$ 2,038.8 Million from 2020 to 2028

Development in LED-based Lights to Provide Growth Opportunities for Machine Vision Lighting Market During 2021-2028

According to our latest market study on "Machine Vision Lighting Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Lighting Type, Spectrum of Light, and Application," the market was valued at US$ 1186.6 million in 2020 and is projected to reach US$ 2038.8 million by 2028; it is estimated to register a CAGR of 8.0% from 2021 to 2028.

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The List of Companies - Machine Vision Lighting Market

Advanced Illumination Inc.
EFFILUX
Moritex Corporation
National Instruments Corporation
Omron Microscan System, Inc.
Cognex Corporation
ProPhotonix Limited
Smart Vision Lights
Spectrum Illumination
TPL Vision

In machine vision systems, LED lights have been acknowledged as a technological basis for lighting test objects. However, there is still a need for optimization. There are certain customer-specific applications that are lacking individual mechanical and optical designs. A massive number of machine vision end users require lighting with higher intensity, available at lower price and easier integration. The vital factors comprise customer-centric adaptation possibilities in lighting geometry, numerous selections for operation, and fast delivery times with wavelengths. The requirements for illumination systems particularly high-power density for faster production process, which need shorter exposure times and, therefore more luminous intensity is witnessing a high demand. Manufacturers of machine vision lighting are thus catering to this inclination by manufacturing high-power LEDs. Constant developments in the LED-based lights for complex end-user applications is anticipated to provide a prosperous opportunity to the market.

Machine Vision Lighting Market Segmentation:

By Lighting Type:
LEDs
Fiber Optic Lights (Halogen)
Florescent Lighting
Xenon
Others

By Spectrum of Light:
Visible spectrum
UV Spectrum
IR spectrum

By Application:
Automotive
Consumer Electronics
Food & Beverage
Pharmaceuticals
Logistics
Others

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The global manufacturing industry is rapidly expanding as more and newer regions are investing in manufacturing plants. As per the China Federation of Logistics and Purchasing (CFLP), China's manufacturing purchasing managers' index (PMI) accounted 50.0 in November 2018, which was down from 50.2 in October 2018. Increasing industrial advancement in emerging market economies coupled with government support to the manufacturing sector is resulting in expansion of the sector.

Moreover, the expansion in the manufacturing industry is further highly driven by the economic growth worldwide. Also, the industry is presently found to be in the middle of a technological renaissance, which is changing the outlook, systems, and processes of the modern factory. This technological revolution in the factories has been encouraging the manufacturing industries to further invest into these emerging technologies to enhance their productivity and production cycle. Thus, the rapid expansion in the manufacturing industry is expected to drive the demand for machine vision lighting globally.

Impact of COVID-19 Pandemic on Machine Vision Lighting Market:

As selected countries observed a rise in the number of reported cases and subsequently attracted strict as well as longer lockdown periods or social isolation, the effect of COVID-19 varied from country to country throughout the European region. However, due to the strong healthcare system, Western European countries such as Germany, France, Russia, the United Kingdom and others have seen a comparatively modest decrease in their development activities. European government in order to protect its population from the virus has made huge investments in the implementation of technology in its healthcare systems for better detection of symptoms of the virus.

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Machine vision lighting in the region is being adopted across the manufacturing industry to efficiently detect and treat problems in production. Thus, leaving a positive impact on the market. However, due to the temporary closure of all economic activities in the region, the adoption of technologies has experienced a dip across all other major industries in the region such as manufacturing, retail and automotive amongst others. This is further expected to refrain the market growth over the years. Thus, the outbreak of the virus is expected to have a moderate to low impact on the machine vision lighting market in the region.

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This release was published on openPR.