Machine Vision Lighting Market Size worth US$ 2,038.8 Million by 2028 - Exclusive Research by The Insight Partners

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

NEW YORK, UNITED STATES, April 28, 2023 /EINPresswire.com/ -- According to the new research report titled “Machine Vision Lighting Market Forecast to 2028 – COVID-19 Impact and Global Analysis,” published by The Insight Partners, the market is expected to reach US$ 2,038.8 million by 2028, registering a CAGR of 8.0% from 2021 to 2028.

Report Coverage - Machine Vision Lighting Market

Report Coverage Details
Market Size Value in US$ 1,186.6 Million in 2020
Market Size Value by US$ 2,038.8 Million by 2028
Growth rate CAGR of 8.0% from 2021-2028
Forecast Period 2021-2028
Base Year 2021
No. of Pages 176
No. of Tables 83
No. of Charts & Figures 87
Historical data available Yes
Segments Covered Lighting Type , Spectrum of Light , and Application
Regional scope North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country scope US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina

Report Coverage Revenue forecast, company ranking, competitive landscape, growth factors, and trends

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Machine vision systems are the next-generation intelligent systems mainly used in industrial applications for detection, identification, measurement, inspection, and so on. The industry came into existence three decade ago; however, the global acceptance and rapid boom started quite lately. There have been constant technological advances that changed the industry. These systems play major roles in robotics; these are used to guide autonomous robots also known as ‘self-navigating robots.’ Various industries such as automotive, food & beverages, and pharmaceuticals are much concerned about reducing labor-intensive processes and increasing accuracy and speed; machine vision systems are in demand because these help in such shortcomings.

The increasing market competition has its impetus on global manufacturers to decrease production errors and operating expenditure. Therefore, global manufacturers are increasingly embedding advanced solutions to their production line to manufacture quality products along with minimized production errors. The manufacturing industries these days are more focused on cost-effective manufacturing and packaging technologies, which can protect the brand and quality of products. Irrespective of a few sectors, the manufacturing industries demand specialized knowledge for the control and automation of processes.

The machine vision lighting market is segmented into lighting type, the spectrum of light, application, and geography. Based on lighting type, the market is categorized into LEDs, fiber optic lights (halogen), fluorescent lighting, and xenon. By spectrum of light, the market is segmented into visible spectrum, UV spectrum, and IR spectrum. Based on application, the market is further segmented into automotive, consumer electronics, food & beverage, pharmaceuticals, and logistics.

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Key Findings of Study:

The presence of a strong manufacturing sector in the developed and developing economies of APAC is influencing the market growth for machine vision lighting. Also, the increasing adoption of machine vision systems by different end-user industries is bolstering market growth. The rising living standards of people across the globe, coupled with stringent government standards for different products, is impacting the market positively. Moreover, backed by government support for reinforcing the manufacturing sector, MEA, and SAM are witnessing growth in their industrial sector. With the government planning to make the UAE and Saudi Arabia as a manufacturing hubs in the coming years, it is expected to create opportunities for machine vision systems including lights, lasers, and many more. In the Middle East, Jaguar Land Rover and Mars (the food manufacturer) have already taken high interest for manufacturing.

Machine Vision Lighting Market: Competitive Landscape and Key Developments

Advanced Illumination Inc.; EFFILUX; Moritex Corporation; National Instruments Corporation; Omron Microscan System, Inc.; Cognex Corporation; ProPhotonix Limited; Smart Vision Lights; Spectrum Illumination; and TPL Vision are among the key players that are profiled during this market study. In addition to these players, several other essential market players were also studied and analyzed to get a holistic view of the global machine vision lighting market and its ecosystem.

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About Us:

The Insight Partners is a one-stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductors and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Devices, Technology, Media and Telecommunications, and Chemicals and Materials.

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