In terms of revenue, the global machine vision lighting market is expected to grow to US$ 1961.6 million by 2025 from US$ 1089.4 million in 2017.
The demand for machine vision lighting is highly propelled with the extensive demand for high production output by different end-user industries and rapid adoption of automation in the production process. However, complicated end-user requirements is acting as a restraining factor to the machine vision lighting market growth.
The global machine vision lighting market is moderately consolidated with few major players sharing the larger pie of the market. Also, major and smaller players are trying to come up with innovative solutions and strategic partnerships as well as different business models to attract a large base of customers. Currently, the machine vision lighting market is experiencing a high growth in the developing economies of APAC region. This is due to the growing number of manufacturing industries in these economies.
On the basis of application, automotive and F&B are the leading segments of the global machine vision lighting market. In the automotive industry, machine vision is used for applications such as inspections and robotic guidance. The embedded sensors, the machine vision systems can find objects in the 2-D or 3-D space and accordingly adjust paths for its placement while assembling. Robots with the help of machine vision systems can achieve higher efficiencies and accuracies and eliminate risks and errors associated in critical activities with human labor. The activities carried out by robots using machine vision systems include auto racking, bin picking and placement of parts for assembly. The other tasks of machine vision systems include inspections where they check for any cosmetic or functional flaws in the design of the automotive part. They also verify the presence or absence of the parts and correctness of their shapes, perform parts recognition, enable dimensional gauging and also do 2D matrix reading. The variety of applications served by machine vision systems have enabled rapid adoptions of such solutions by automobile manufacturers in various parts of the world.
The overall machine vision lighting market size has been derived using both primary and secondary source. The research process begins with exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the machine vision lighting market. It also provides the overview and forecast for the global machine vision lighting market based on all the segmentation provided with respect to five major reasons such as North America, Europe, Asia-Pacific, the Middle East and Africa, and South America. Also, primary interviews were conducted with industry participants and commentators in order to validate data and analysis. The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers, and external consultant such as valuation experts, research analysts, and key opinion leaders specializing in the machine vision lighting industry.