LEDs Segment to Dominate North America Machine Vision Lighting Market during 2020–2028
According to The Insight Partners market research study on “North America 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$ 448.53 million by 2028 from 280.29 US$ million in 2021. The market is estimated to grow at a CAGR of 6.9% from 2021 to 2028. The report provides trends prevailing in the North America machine vision lighting market along with the drivers and restraints pertaining to the market growth. Huge demand for high production output is the major factor driving the growth of the North America machine vision lighting market. However, issues associated with complicated end-user requirements hinders the growth of North America machine vision lighting market.
North America machine vision lighting market is segmented into lighting type, spectrum of light, application, and country. Based on lighting type, the North America 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 North America 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 North America 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 North America machine vision lighting market is segmented into US, Canada, and Mexico. US held the largest market share in 2020.
North America has the highest adoption and growth rate of new technologies owing to favorable government policies to boost innovation and strengthen the infrastructure capabilities. Hence, any impact on industries is expected to affect the economic growth of the region in a negative manner. Presently, the US is the world’s worst affected country due to the COVID-19 outbreak, thereby influencing the sudden stands still across all industries such as manufacturing and automotive. It is becoming apparent with the COVID-19 pandemic spreading across the US that a few can escape its scope, presenting significant challenges to all industries. However, the manufacturing sector is adopting technologies to convert traditional manufacturing processes into smart ones. Thus, the closure of all manufacturing units across countries such as the US, Canada, and Mexico is expected to negatively impact the growth of the machine vision lighting market. However, the outbreak of the virus has influenced the adoption of the technology across the healthcare sector to detect COVID-19 among patients. Thus, rising investment by the healthcare sector in technologies in the present situation is expected to impact the market positively. As a result, the sector was able to cope with the pandemic's predicament in a relatively short time. This industry is currently operating at the same rate as it did prior to the outbreak. Thus, North America is expected to witness an overall moderate impact on the machine vision lighting market owing to the pandemic in the coming years.
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 North America 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, in 2021, ProPhotonix Limited announced an extension to its existing UVC LED product range, the COBRA Clean FX1. This compact, plug and play UVC LED Lamp is now available in four wavelengths – 265nm, 275nm, 285nm and 310nm.