Consumer Electronics Segment to Dominate APAC Machine Vision Lighting Market during 2020–2028
According to The Insight Partners market research study on “APAC Machine Vision Lighting Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Lighting Type, Spectrum of Light, and Application” is expected to reach US$ 735.99 million by 2028 from 401.39 US$ million in 2021. The market is estimated to grow at a CAGR of 9.0% from 2021 to 2028. The report provides trends prevailing in the APAC machine vision lighting market along with the drivers and restraints pertaining to the market growth. Upcoming of smart lighting for machine vision systems is the major factor driving the growth of the APAC machine vision lighting market. However, issues associated with fulfilment of end-user requirements being difficult hinders the growth of APAC machine vision lighting market.
APAC machine vision lighting market is segmented into lighting type, spectrum of light, application, and country. Based on lighting type, the APAC machine vision lighting market is segmented into LEDs, fiber optic lights (halogen), florescent lighting, xenon, and others. LEDs segment held the largest market share in 2020. Based on spectrum of light, the APAC machine vision lighting market is segmented into visible spectrum, UV spectrum, and IR spectrum. Visible spectrum held the largest market share in 2020. Based on application, the APAC machine vision lighting market is segmented into automotive, consumer electronics, food and beverage, pharmaceuticals, logistics, and others. Consumer electronics held the largest market share in 2020. Based on country, the APAC machine vision lighting market is segmented into Australia, China, India, Japan, South Korea, and rest of APAC. Japan held the largest market share in 2020.
Because of a massive number of cases in China and India, APAC is greatly affected by the COVID-19 pandemic. China is the most important manufacturer and industrial producer because it trades more manufacturing products than any other country in the world. It is also a world leader in many types of goods. According to the Organization for Economic Co-operation and Development (OECD), the pandemic has also affected other major economies such as South Korea, India, Australia, and Japan. These countries are experiencing downward inflation. The sudden closedown of all economic activities, which includes manufacturing and processing amongst others, has highly impacted the growth of the region. Owing to the severe burden of losses over manufacturing companies, the investments in new technologies and implementation of the same will now be deferred till they resume back to normal. This is expected to negatively impact the machine vision lighting market growth. However, the rising adoption of the technology across the manufacturing sector to determine defects in products and for inspection is influencing its high adoption across the countries for better production efficiency. Thus, the mixed effect of the adoption of technology across various industries is expected to moderately impact the market growth over the years across the region.
Advanced Illumination Inc; Cognex Corporation; EFFILUX; Moritex Corporation; National Instruments Corporation; Omron Microscan System, Inc.; ProPhotonix Limited; Smart Vision Lights; Spectrum Illumination; and TPL Vision are among the leading companies in the APAC machine vision lighting market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, Advanced illumination launched BL313 Medium Intensity Linear Backlight.