[Research Report] The machine vision lighting market was valued at US$ 1.59 billion in 2022 and is expected to reach US$ 2.88 billion by 2030; it is estimated to record a CAGR of 7.7% from 2022 to 2030.
Analyst Perspective:
Lighting is a vital feature of machine vision applications. Failure to appropriately illuminate a target can lead to information and production loss. A lighting approach entails using a light source and its location concerning the part and the camera.
Machine Vision Lighting Market Overview:
Machine vision systems are the next-generation intelligent systems essentially used in industrial applications for detection, measurement, identification, inspection, etc. Constant technological advances have changed the industry as a whole. These systems play essential roles in robotics; these are used to guide autonomous robots, also known as ‘self-navigating robots.’ Various industries, such as food & beverages, pharmaceuticals, and automotive, are highly involved in increasing accuracy, reducing labor-intensive processes, and speed; systems in the machine vision lighting market are in demand to perform complex, repetitive tasks more accurately and consistently. Systems in the machine vision lighting market include image sensors, processors, PLC, frame grabbers, and more, driven by a software package to execute user-defined applications. Lighting is a critical system element that is crucial in defining the application. LEDs are the most used lighting type and have revolutionized the industry. LED lighting has led machine vision applications into areas where fiber optic light sources or fluorescent lighting were unsuitable. A decade ago, LED lighting firms were considered new entrants; however, they currently lead the market.
The machine vision lighting market is expected to experience substantial growth in the coming years due to the growing demand in industries such as robotics, automation, and non-manufacturing, including intelligent transport systems, logistics, and medical, exhibiting substantial market growth. Automotive, electronics, and processing industries are the largest end users of these systems. However, the development of systems in the machine vision lighting market in non-industrial niche applications such as logistics, IP video surveillance, and intelligent traffic systems is also rising owing to ongoing technological improvements resulting in decreasing the costs of these systems.
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Machine Vision Lighting Market: Strategic Insights
Market Size Value in US$ 1.59 billion in 2022 Market Size Value by US$ 2.88 billion by 2030 Growth rate CAGR of 7.7% from 2022 to 2030 Forecast Period 2022-2030 Base Year 2022
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Machine Vision Lighting Market: Strategic Insights
Market Size Value in | US$ 1.59 billion in 2022 |
Market Size Value by | US$ 2.88 billion by 2030 |
Growth rate | CAGR of 7.7% from 2022 to 2030 |
Forecast Period | 2022-2030 |
Base Year | 2022 |
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Speak to AnalystMachine Vision Lighting Market Driver:
Extensive Demand for High Production Output Drives Machine Vision Lighting Market Growth
High-production environments often require rapid inspection processes to maintain efficiency. Machine vision systems, equipped with appropriate lighting, can operate at high speeds while maintaining accuracy in detecting defects and ensuring product quality. In electronics manufacturing, where components are produced in large volumes, systems in the machine vision lighting market with optimized lighting can quickly inspect circuit boards for defects, ensuring a high level of quality in a short time, which contributes to higher production output by minimizing production delays. For example, in automotive manufacturing, systems in the machine vision lighting market with precision lighting can identify imperfections in painted surfaces, reducing the chances of defects reaching the end of the production line and avoiding costly rework.
The increasing market competition has impetus on global manufacturers to decrease production errors and operating expenditures. Therefore, global manufacturers increasingly embed advanced solutions in their production lines to manufacture quality products while minimizing production errors. The manufacturing industries are more focused on cost-effective manufacturing and packaging technologies, which can protect the brand and quality of the products. Irrespective of some sectors, the manufacturing industries demand specialized knowledge to control and automate processes.
Due to the massive sales of products, error prevention and automation have risen dramatically in recent years. All the production specifications are expected to be handled with perfection, ensuring the maximization of the uptime. Thus, the low-quality products are rejected through the specifications, and operating costs are reduced. Additionally, all regulatory expectations are either met or exceeded. Proper lighting in machine vision, thus, plays a vital role in maintaining the quality of products. Since machine vision systems examine the image of the object, it is vital to get the precise lighting arrangement for the application. This enables the camera to capture all image details essential to make exact measurements. Higher levels of integration help in increasing product quality as well as production efficiency, thus reducing production costs.
The extensive demand for high production output is a significant driver for the machine vision lighting market. Machine vision systems play a crucial role in industrial automation, quality control, and inspection processes by providing accurate and rapid imaging capabilities. Effective lighting is essential for these systems to capture high-quality images, increasing efficiency, productivity, and overall production output.
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Machine Vision Lighting Market Segmental Analysis:
Based on lighting type, the machine vision lighting market is segmented into LEDs, fiber optic lights (halogen), fluorescent lighting, xenon, and others. Several lighting options and ways are available to construct and orient machine vision systems. Selecting an appropriate lighting for the machine vision system results in significant variation in the productivity of the user's machine. While planning for a new machine vision system, the first step is to comprehend the part to be scrutinized. This includes the color, surface finish, and the outcome of the part. Further, a proper understanding of the product environment is critical. The next step is to review the advantages and disadvantages of various available lighting sources. Each lighting source has different characteristics, including strobe, intensity, heat produced, intensity, lifespan, and cost. LEDs are machine vision systems' most extensively used lighting type. LEDs are available in various colors and sizes and are easily structured into different shapes, such as linear illuminators, spotlights, and ring lights. Moreover, the light produced by the LED array is focused and directional and does not diffuse. Also, it is possible to aim an individual light from an LED array to deliver illumination at particular angles. Further, it is possible to select lenses molded in each LED to deliver the light in diverse spread angles. Various players across the world provide LED lighting solutions for machine vision. For instance, Smart Vision Lights provides LED lighting solutions for several types of machine vision or automation camera applications. Thus, the presence of such players propels the growth of LEDs in the machine vision lighting market.
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Machine Vision Lighting Market Regional Analysis:
Asia Pacific is expected to dominate the machine vision lighting market. The manufacturing industry in the developing countries of APAC has experienced a seismic shift over the years, as they have established themselves as serious players, which has subsequently created a threat for reputable manufacturers holding a firm presence in developed nations. The Asian manufacturing sector is known to quickly adopt innovation accelerators, including robotics and emerging cloud and mobility technologies. Over the years, manufacturing spending in APAC has grown significantly and is further anticipated to grow at the highest estimated growth rate. This dramatic growth in manufacturing spending and the adoption of new technologies are the key factors fueling the demand for machine vision systems.
APAC has become a universal manufacturing hub with the presence of various manufacturing industries. Among China's evolution into a high-skilled manufacturing hub, other emerging countries such as India, Vietnam, Taiwan, and South Korea are attracting several businesses that are in a quest to relocate their low to medium-skilled manufacturing facilities to neighboring countries, offering lower labor costs. Further, China is the largest producer of passenger cars in the world, followed by Japan, India, and South Korea. This would further propel the machine vision lighting market growth in the country. Also, the consumer electronics manufacturing industry in APAC is leading globally. These industries' presence is anticipated to positively influence the machine vision lighting market. On the other hand, China, the largest manufacturing hub, is experiencing a rise in labor costs due to its aging population. As a result, manufacturing enterprises from developed countries seek to invest in other Southeast Asian countries to take advantage of improving infrastructure, rising domestic consumption, and lower costs in these countries. Furthermore, the demand for consumer electronic products, which is majorly driven by rising disposable incomes, price deflation, and innovation, particularly in the emerging Asian markets, is projected to encourage the manufacturing industries in APAC to adopt newer technologies in order to synchronize with consumers' expectations. Also, the presence of a strong semiconductor industry in APAC is propelling the growth of machine vision lighting market.
Machine Vision Lighting Market Key Player Analysis:
Cognex Corporation, Advanced Illumination Inc., Effilux, Moritex Corporation, National Instruments Corporation, Omron Microscans Systems Inc., Prophotonix Limited, Spectrum Illumination, and TPL Vision are among the key players operating in the machine vision lighting market.
Recent Developments:
Inorganic and organic strategies such as mergers and acquisitions are highly adopted by companies in the machine vision lighting market. A few recent key machine vision lighting market developments are listed below:
- In October 2023, Cognex Corporation announced the acquisition of Moritex Corporation, a manufacturer and seller of machine vision optical components such as high-spec lenses and lighting for industrial use.
- In September 2023, The Wenglor Sensoric Group, headquartered in Tettnang, Germany, has recently completed the acquisition of deevio, a Berlin-based start-up specializing in AI and image processing. This strategic move allows Wenglor to enhance its expertise in artificial intelligence and data science, unlocking new possibilities for innovative advancements in the realm of machine vision. The acquisition strengthens Wenglor's position in the market and provides a platform for future growth and development in this rapidly evolving field.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Lighting Type, Spectrum of Light, and Application
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
Frequently Asked Questions
The global machine vision lighting market is expected to reach US$ 2.88 billion by 2030.
The incremental growth expected to be recorded for the global machine vision lighting market during the forecast period is US$ 1.29 billion.
Multispectral and hyperspectral lighting is impacting the machine vision lighting market, which is anticipated to play a significant role in the global machine vision lighting market in the coming years.
The key players holding majority shares in the global machine vision lighting market are Cognex Corp; Keyence Corp; Omron Microscan Systems, Inc.; Smart Vision Lights; and Exaktera LLC.
The global machine vision lighting market was estimated to be US$ 1.59 billion in 2022 and is expected to grow at a CAGR of 7.7 % during the forecast period 2023 - 2030.
Extensive demand for high production output, rapid expansion of manufacturing industry, and increasing automation across industries are the major factors that propel the global machine vision lighting market.
1. Introduction
1.1 The Insight Partners Research Report Guidance
1.2 Market Segmentation
2. Executive Summary
2.1 Key Insights
2.2 Market Attractiveness
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Machine Vision Lighting Market Landscape
4.1 Overview
4.2 PEST Analysis
4.3 Ecosystem Analysis
4.3.1 List of Vendors in Value Chain
5. Machine Vision Lighting Market - Key Industry Dynamics
5.1 Machine Vision Lighting Market - Key Industry Dynamics
5.2 Market Drivers
5.2.1 Extensive Demand for High Production Output
5.2.2 Rapid Expansion of Manufacturing Industry
5.2.3 Increasing Automation Across Industries
5.3 Market Restraints
5.3.1 Complicated End User Requirement
5.3.2 Lack of Skilled Professionals in Manufacturing Industry
5.4 Market Opportunities
5.4.1 Increase in Adoption of Intelligent Lighting for Machine Vision Systems
5.4.2 Customized Lighting Solutions for Specific Industries
5.5 Future Trends
5.5.1 Multispectral and Hyperspectral Lighting
5.6 Impact of Drivers and Restraints:
6. Machine Vision Lighting Market - Global Market Analysis
6.1 Machine Vision Lighting Market Revenue (US$ Million), 2022 – 2030
6.2 Machine Vision Lighting Market Forecast and Analysis
7. Machine Vision Lighting Market Analysis - Lighting Type
7.1 LEDs
7.1.1 Overview
7.1.2 LEDs Market, Revenue and Forecast to 2030 (US$ Million)
7.2 Fiber Optic Lights (Halogen)
7.2.1 Overview
7.2.2 Fiber Optic Lights (Halogen) Market, Revenue and Forecast to 2030 (US$ Million)
7.3 Fluorescent Lighting
7.3.1 Overview
7.3.2 Fluorescent Lighting Market, Revenue and Forecast to 2030 (US$ Million)
7.4 Xenon
7.4.1 Overview
7.4.2 Xenon Market, Revenue and Forecast to 2030 (US$ Million)
7.5 Others
7.5.1 Overview
7.5.2 Others Market, Revenue and Forecast to 2030 (US$ Million)
8. Machine Vision Lighting Market Analysis - Spectrum of Light
8.1 Visible Spectrum
8.1.1 Overview
8.1.2 Visible Spectrum Market Revenue, and Forecast to 2030 (US$ Million)
8.2 IR Spectrum
8.2.1 Overview
8.2.2 IR Spectrum Market Revenue, and Forecast to 2030 (US$ Million)
8.3 UV Spectrum
8.3.1 Overview
8.3.2 UV Spectrum Market Revenue, and Forecast to 2030 (US$ Million)
9. Machine Vision Lighting Market Analysis – Application
9.1 Automotive
9.1.1 Overview
9.1.2 Automotive Market Revenue, and Forecast to 2030 (US$ Million)
9.2 Food & Beverage
9.2.1 Overview
9.2.2 Food & Beverage Market Revenue, and Forecast to 2030 (US$ Million)
9.3 Pharmaceuticals
9.3.1 Overview
9.3.2 Pharmaceuticals Market Revenue, and Forecast to 2030 (US$ Million)
9.4 Consumer Electronics
9.4.1 Overview
9.4.2 Consumer Electronics Market Revenue, and Forecast to 2030 (US$ Million)
9.5 Logistics
9.5.1 Overview
9.5.2 Logistics Market Revenue, and Forecast to 2030 (US$ Million)
9.6 Others
9.6.1 Overview
9.6.2 Others Market Revenue, and Forecast to 2030 (US$ Million)
10. Machine Vision Lighting Market - Geographical Analysis
10.1 Overview
10.2 North America
10.2.1 North America Machine Vision Lighting Market Overview
10.2.2 North America Machine Vision Lighting Market Revenue and Forecasts to 2030 (US$ Mn)
10.2.3 North America Machine Vision Lighting Market Breakdown by Lighting Type
10.2.3.1 North America Machine Vision Lighting Market Revenue and Forecasts and Analysis - By Lighting Type
10.2.4 North America Machine Vision Lighting Market Breakdown by Spectrum of Light
10.2.4.1 North America Machine Vision Lighting Market Revenue and Forecasts and Analysis – Spectrum of Light
10.2.5 North America Machine Vision Lighting Market Breakdown by Application
10.2.5.1 North America Machine Vision Lighting Market Revenue and Forecasts and Analysis - By Application
10.2.6 North America Machine Vision Lighting Market Revenue and Forecasts and Analysis - By Country
10.2.6.1 North America Machine Vision Lighting Market Revenue and Forecasts and Analysis - By Country
10.2.6.2 US Machine Vision Lighting Market Revenue and Forecasts to 2030 (US$ Mn)
10.2.6.2.1 US Machine Vision Lighting Market Breakdown by Lighting Type
10.2.6.2.2 US Machine Vision Lighting Market Breakdown by Spectrum of Light
10.2.6.2.3 US Machine Vision Lighting Market Breakdown by Application
10.2.6.3 Canada Machine Vision Lighting Market Revenue and Forecasts to 2030 (US$ Mn)
10.2.6.3.1 Canada Machine Vision Lighting Market Breakdown by Lighting Type
10.2.6.3.2 Canada Machine Vision Lighting Market Breakdown by Spectrum of Light
10.2.6.3.3 Canada Machine Vision Lighting Market Breakdown by Application
10.2.6.4 Mexico Machine Vision Lighting Market Revenue and Forecasts to 2030 (US$ Mn)
10.2.6.4.1 Mexico Machine Vision Lighting Market Breakdown by Lighting Type
10.2.6.4.2 Mexico Machine Vision Lighting Market Breakdown by Spectrum of Light
10.2.6.4.3 Mexico Machine Vision Lighting Market Breakdown by Application
10.3 Europe
10.3.1 Europe Machine Vision Lighting Market Overview
10.3.2 Europe Machine Vision Lighting Market Revenue and Forecasts to 2030 (US$ Mn)
10.3.3 Europe Machine Vision Lighting Market Breakdown by Lighting Type
10.3.3.1 Europe Machine Vision Lighting Market Revenue and Forecasts and Analysis - By Lighting Type
10.3.4 Europe Machine Vision Lighting Market Breakdown by Spectrum of Light
10.3.4.1 Europe Machine Vision Lighting Market Revenue and Forecasts and Analysis - By Spectrum of Light
10.3.5 Europe Machine Vision Lighting Market Breakdown by Application
10.3.5.1 Europe Machine Vision Lighting Market Revenue and Forecasts and Analysis - By Application
10.3.6 Europe Machine Vision Lighting Market Revenue and Forecasts and Analysis - By Country
10.3.6.1 Europe Machine Vision Lighting Market Revenue and Forecasts and Analysis - By Country
10.3.6.2 Germany Machine Vision Lighting Market Revenue and Forecasts to 2030 (US$ Mn)
10.3.6.2.1 Germany Machine Vision Lighting Market Breakdown by Lighting Type
10.3.6.2.2 Germany Machine Vision Lighting Market Breakdown by Spectrum of Light
10.3.6.2.3 Germany Machine Vision Lighting Market Breakdown by Application
10.3.6.3 France Machine Vision Lighting Market Revenue and Forecasts to 2030 (US$ Mn)
10.3.6.3.1 France Machine Vision Lighting Market Breakdown by Lighting Type
10.3.6.3.2 France Machine Vision Lighting Market Breakdown by Spectrum of Light
10.3.6.3.3 France Machine Vision Lighting Market Breakdown by Application
10.3.6.4 United Kingdom Machine Vision Lighting Market Revenue and Forecasts to 2030 (US$ Mn)
10.3.6.4.1 United Kingdom Machine Vision Lighting Market Breakdown by Lighting Type
10.3.6.4.2 United Kingdom Machine Vision Lighting Market Breakdown by Spectrum of Light
10.3.6.4.3 United Kingdom Machine Vision Lighting Market Breakdown by Application
10.3.6.5 Italy Machine Vision Lighting Market Revenue and Forecasts to 2030 (US$ Mn)
10.3.6.5.1 Italy Machine Vision Lighting Market Breakdown by Lighting Type
10.3.6.5.2 Italy Machine Vision Lighting Market Breakdown by Spectrum of Light
10.3.6.5.3 Italy Machine Vision Lighting Market Breakdown by Application
10.3.6.6 Spain Machine Vision Lighting Market Revenue and Forecasts to 2030 (US$ Mn)
10.3.6.6.1 Spain Machine Vision Lighting Market Breakdown by Lighting Type
10.3.6.6.2 Spain Machine Vision Lighting Market Breakdown by Spectrum of Light
10.3.6.6.3 Spain Machine Vision Lighting Market Breakdown by Application
10.3.6.7 Rest of Europe Machine Vision Lighting Market Revenue and Forecasts to 2030 (US$ Mn)
10.3.6.7.1 Rest of Europe Machine Vision Lighting Market Breakdown by Lighting Type
10.3.6.7.2 Rest of Europe Machine Vision Lighting Market Breakdown by Spectrum of Light
10.3.6.7.3 Rest of Europe Machine Vision Lighting Market Breakdown by Application
10.4 Asia Pacific
10.4.1 Asia Pacific Machine Vision Lighting Market Overview
10.4.2 Asia Pacific Machine Vision Lighting Market Revenue and Forecasts to 2030 (US$ Mn)
10.4.3 Asia Pacific Machine Vision Lighting Market Breakdown by Lighting Type
10.4.3.1 Asia Pacific Machine Vision Lighting Market Revenue and Forecasts and Analysis - By Lighting Type
10.4.4 Asia Pacific Machine Vision Lighting Market Breakdown by Spectrum of Light
10.4.4.1 Asia Pacific Machine Vision Lighting Market Revenue and Forecasts and Analysis - By Spectrum of Light
10.4.5 Asia Pacific Machine Vision Lighting Market Breakdown by Application
10.4.5.1 Asia Pacific Machine Vision Lighting Market Revenue and Forecasts and Analysis - By Application
10.4.6 Asia Pacific Machine Vision Lighting Market Revenue and Forecasts and Analysis - By Country
10.4.6.1 Asia Pacific Machine Vision Lighting Market Revenue and Forecasts and Analysis - By Country
10.4.6.2 China Machine Vision Lighting Market Revenue and Forecasts to 2030 (US$ Mn)
10.4.6.2.1 China Machine Vision Lighting Market Breakdown by Lighting Type
10.4.6.2.2 China Machine Vision Lighting Market Breakdown by Spectrum of Light
10.4.6.2.3 China Machine Vision Lighting Market Breakdown by Application
10.4.6.3 Japan Machine Vision Lighting Market Revenue and Forecasts to 2030 (US$ Mn)
10.4.6.3.1 Japan Machine Vision Lighting Market Breakdown by Lighting Type
10.4.6.3.2 Japan Machine Vision Lighting Market Breakdown by Spectrum of Light
10.4.6.3.3 Japan Machine Vision Lighting Market Breakdown by Application
10.4.6.4 South Korea Machine Vision Lighting Market Revenue and Forecasts to 2030 (US$ Mn)
10.4.6.4.1 South Korea Machine Vision Lighting Market Breakdown by Lighting Type
10.4.6.4.2 South Korea Machine Vision Lighting Market Breakdown by Spectrum of Light
10.4.6.4.3 South Korea Machine Vision Lighting Market Breakdown by Application
10.4.6.5 India Machine Vision Lighting Market Revenue and Forecasts to 2030 (US$ Mn)
10.4.6.5.1 India Machine Vision Lighting Market Breakdown by Lighting Type
10.4.6.5.2 India Machine Vision Lighting Market Breakdown by Spectrum of Light
10.4.6.5.3 India Machine Vision Lighting Market Breakdown by Application
10.4.6.6 Australia Machine Vision Lighting Market Revenue and Forecasts to 2030 (US$ Mn)
10.4.6.6.1 Australia Machine Vision Lighting Market Breakdown by Lighting Type
10.4.6.6.2 Australia Machine Vision Lighting Market Breakdown by Spectrum of Light
10.4.6.6.3 Australia Machine Vision Lighting Market Breakdown by Application
10.4.6.7 Rest of Asia Pacific Machine Vision Lighting Market Revenue and Forecasts to 2030 (US$ Mn)
10.4.6.7.1 Rest of Asia Pacific Machine Vision Lighting Market Breakdown by Lighting Type
10.4.6.7.2 Rest of Asia Pacific Machine Vision Lighting Market Breakdown by Spectrum of Light
10.4.6.7.3 Rest of Asia Pacific Machine Vision Lighting Market Breakdown by Application
10.5 Middle East & Africa
10.5.1 Middle East & Africa Machine Vision Lighting Market Overview
10.5.2 Middle East & Africa Machine Vision Lighting Market Revenue and Forecasts to 2030 (US$ Mn)
10.5.3 Middle East & Africa Machine Vision Lighting Market Breakdown by Lighting Type
10.5.3.1 Middle East & Africa Machine Vision Lighting Market Revenue and Forecasts and Analysis - By Lighting Type
10.5.4 Middle East & Africa Machine Vision Lighting Market Breakdown by Spectrum of Light
10.5.4.1 Middle East & Africa Machine Vision Lighting Market Revenue and Forecasts and Analysis - By Spectrum of Light
10.5.5 Middle East & Africa Machine Vision Lighting Market Breakdown by Application
10.5.5.1 Middle East & Africa Machine Vision Lighting Market Revenue and Forecasts and Analysis - By Application
10.5.6 Middle East & Africa Machine Vision Lighting Market Revenue and Forecasts and Analysis - By Country
10.5.6.1 Middle East & Africa Machine Vision Lighting Market Revenue and Forecasts and Analysis - By Country
10.5.6.2 Saudi Arabia Machine Vision Lighting Market Revenue and Forecasts to 2030 (US$ Mn)
10.5.6.2.1 Saudi Arabia Machine Vision Lighting Market Breakdown by Lighting Type
10.5.6.2.2 Saudi Arabia Machine Vision Lighting Market Breakdown by Spectrum of Light
10.5.6.2.3 Saudi Arabia Machine Vision Lighting Market Breakdown by Application
10.5.6.3 UAE Machine Vision Lighting Market Revenue and Forecasts to 2030 (US$ Mn)
10.5.6.3.1 UAE Machine Vision Lighting Market Breakdown by Lighting Type
10.5.6.3.2 UAE Machine Vision Lighting Market Breakdown by Spectrum of Light
10.5.6.3.3 UAE Machine Vision Lighting Market Breakdown by Application
10.5.6.4 South Africa Machine Vision Lighting Market Revenue and Forecasts to 2030 (US$ Mn)
10.5.6.4.1 South Africa Machine Vision Lighting Market Breakdown by Lighting Type
10.5.6.4.2 South Africa Machine Vision Lighting Market Breakdown by Spectrum of Light
10.5.6.4.3 South Africa Machine Vision Lighting Market Breakdown by Application
10.5.6.5 Rest of Middle East and Africa Machine Vision Lighting Market Revenue and Forecasts to 2030 (US$ Mn)
10.5.6.5.1 Rest of Middle East and Africa Machine Vision Lighting Market Breakdown by Lighting Type
10.5.6.5.2 Rest of Middle East and Africa Machine Vision Lighting Market Breakdown by Spectrum of Light
10.5.6.5.3 Rest of Middle East and Africa Machine Vision Lighting Market Breakdown by Application
10.6 South America
10.6.1 South America Machine Vision Lighting Market Overview
10.6.2 South America Machine Vision Lighting Market Revenue and Forecasts to 2030 (US$ Mn)
10.6.3 South America Machine Vision Lighting Market Breakdown by Lighting Type
10.6.3.1 South America Machine Vision Lighting Market Revenue and Forecasts and Analysis - By Lighting Type
10.6.4 South America Machine Vision Lighting Market Breakdown by Spectrum of Light
10.6.4.1 South America Machine Vision Lighting Market Revenue and Forecasts and Analysis - By Spectrum of Light
10.6.5 South America Machine Vision Lighting Market Breakdown by Application
10.6.5.1 South America Machine Vision Lighting Market Revenue and Forecasts and Analysis - By Application
10.6.6 South America Machine Vision Lighting Market Revenue and Forecasts and Analysis - By Country
10.6.6.1 South America Machine Vision Lighting Market Revenue and Forecasts and Analysis - By Country
10.6.6.2 Brazil Machine Vision Lighting Market Revenue and Forecasts to 2030 (US$ Mn)
10.6.6.2.1 Brazil Machine Vision Lighting Market Breakdown by Lighting Type
10.6.6.2.2 Brazil Machine Vision Lighting Market Breakdown by Spectrum of Light
10.6.6.2.3 Brazil Machine Vision Lighting Market Breakdown by Application
10.6.6.3 Argentina Machine Vision Lighting Market Revenue and Forecasts to 2030 (US$ Mn)
10.6.6.3.1 Argentina Machine Vision Lighting Market Breakdown by Lighting Type
10.6.6.3.2 Argentina Machine Vision Lighting Market Breakdown by Spectrum of Light
10.6.6.3.3 Argentina Machine Vision Lighting Market Breakdown by Application
10.6.6.4 Rest of South and Central America Machine Vision Lighting Market Revenue and Forecasts to 2030 (US$ Mn)
10.6.6.4.1 Rest of South and Central America Machine Vision Lighting Market Breakdown by Lighting Type
10.6.6.4.2 Rest of South and Central America Machine Vision Lighting Market Breakdown by Spectrum of Light
10.6.6.4.3 Rest of South and Central America Machine Vision Lighting Market Breakdown by Application
11. Machine Vision Lighting Market – Impact of COVID-19 Pandemic
11.1 Pre & Post Covid-19 Impact
12. Competitive Landscape
12.1 Heat Map Analysis by Key Players
12.2 Company Positioning & Concentration
13. Industry Landscape
13.1 Overview
13.2 Market Initiative
13.3 Product Development
13.4 Mergers & Acquisitions
14. Company Profiles
14.1 Cognex Corp
14.1.1 Key Facts
14.1.2 Business Description
14.1.3 Products and Services
14.1.4 Financial Overview
14.1.5 SWOT Analysis
14.1.6 Key Developments
14.2 Keyence Corp
14.2.1 Key Facts
14.2.2 Business Description
14.2.3 Products and Services
14.2.4 Financial Overview
14.2.5 SWOT Analysis
14.2.6 Key Developments
14.3 Wenglor Sensoric Electronic Devices GmbH
14.3.1 Key Facts
14.3.2 Business Description
14.3.3 Products and Services
14.3.4 Financial Overview
14.3.5 SWOT Analysis
14.3.6 Key Developments
14.4 Omron Microscan Systems, Inc.
14.4.1 Key Facts
14.4.2 Business Description
14.4.3 Products and Services
14.4.4 Financial Overview
14.4.5 SWOT Analysis
14.4.6 Key Developments
14.5 CCS Inc
14.5.1 Key Facts
14.5.2 Business Description
14.5.3 Products and Services
14.5.4 Financial Overview
14.5.5 SWOT Analysis
14.5.6 Key Developments
14.6 Smart Vision Lights
14.6.1 Key Facts
14.6.2 Business Description
14.6.3 Products and Services
14.6.4 Financial Overview
14.6.5 SWOT Analysis
14.6.6 Key Developments
14.7 Spectrum Illumination
14.7.1 Key Facts
14.7.2 Business Description
14.7.3 Products and Services
14.7.4 Financial Overview
14.7.5 SWOT Analysis
14.7.6 Key Developments
14.8 Exaktera LLC
14.8.1 Key Facts
14.8.2 Business Description
14.8.3 Products and Services
14.8.4 Financial Overview
14.8.5 SWOT Analysis
14.8.6 Key Developments
14.9 BASLER AG
14.9.1 Key Facts
14.9.2 Business Description
14.9.3 Products and Services
14.9.4 Financial Overview
14.9.5 SWOT Analysis
14.9.6 Key Developments
14.10 Schott AG
14.10.1 Key Facts
14.10.2 Business Description
14.10.3 Products and Services
14.10.4 Financial Overview
14.10.5 SWOT Analysis
14.10.6 Key Developments
15. Appendix
15.1 About the Insight Partners
15.2 Word Index
List of Tables
Table 1. Machine Vision Lighting Market Segmentation
Table 2. Machine Vision Lighting Market Revenue and Forecasts To 2030 (US$ Million)
Table 3. Machine Vision Lighting Market Revenue and Forecasts To 2030 (US$ Million) – Lighting Type
Table 4. Machine Vision Lighting Market Revenue and Forecasts To 2030 (US$ Million) - Spectrum of Light
Table 5. Machine Vision Lighting Market Revenue and Forecasts To 2030 (US$ Million) – Application
Table 6. North America Machine Vision Lighting Market Revenue and Forecasts To 2030 (US$ Mn) – By Lighting Type
Table 7. North America Machine Vision Lighting Market Revenue and Forecasts To 2030 (US$ Mn) – Spectrum of Light
Table 8. North America Machine Vision Lighting Market Revenue and Forecasts To 2030 (US$ Mn) – By Application
Table 9. North America Machine Vision Lighting Market Revenue and Forecasts To 2030 (US$ Mn) – By Country
Table 10. US Machine Vision Lighting Market Revenue and Forecasts To 2030 (US$ Mn) – By Lighting Type
Table 11. US Machine Vision Lighting Market Revenue and Forecasts To 2030 (US$ Mn) – By Spectrum of Light
Table 12. US Machine Vision Lighting Market Revenue and Forecasts To 2030 (US$ Mn) – By Application
Table 13. Canada Machine Vision Lighting Market Revenue and Forecasts To 2030 (US$ Mn) – By Lighting Type
Table 14. Canada Machine Vision Lighting Market Revenue and Forecasts To 2030 (US$ Mn) – By Spectrum of Light
Table 15. Canada Machine Vision Lighting Market Revenue and Forecasts To 2030 (US$ Mn) – By Application
Table 16. Mexico Machine Vision Lighting Market Revenue and Forecasts To 2030 (US$ Mn) – By Lighting Type
Table 17. Mexico Machine Vision Lighting Market Revenue and Forecasts To 2030 (US$ Mn) – By Spectrum of Light
Table 18. Mexico Machine Vision Lighting Market Revenue and Forecasts To 2030 (US$ Mn) – By Application
Table 19. Europe Machine Vision Lighting Market Revenue and Forecasts To 2030 (US$ Mn) – By Lighting Type
Table 20. Europe Machine Vision Lighting Market Revenue and Forecasts To 2030 (US$ Mn) – By Spectrum of Light
Table 21. Europe Machine Vision Lighting Market Revenue and Forecasts To 2030 (US$ Mn) – By Application
Table 22. Europe Machine Vision Lighting Market Revenue and Forecasts To 2030 (US$ Mn) – By Country
Table 23. Germany Machine Vision Lighting Market Revenue and Forecasts To 2030 (US$ Mn) – By Lighting Type
Table 24. Germany Machine Vision Lighting Market Revenue and Forecasts To 2030 (US$ Mn) – By Spectrum of Light
Table 25. Germany Machine Vision Lighting Market Revenue and Forecasts To 2030 (US$ Mn) – By Application
Table 26. France Machine Vision Lighting Market Revenue and Forecasts To 2030 (US$ Mn) – By Lighting Type
Table 27. France Machine Vision Lighting Market Revenue and Forecasts To 2030 (US$ Mn) – By Spectrum of Light
Table 28. France Machine Vision Lighting Market Revenue and Forecasts To 2030 (US$ Mn) – By Application
Table 29. United Kingdom Machine Vision Lighting Market Revenue and Forecasts To 2030 (US$ Mn) – By Lighting Type
Table 30. United Kingdom Machine Vision Lighting Market Revenue and Forecasts To 2030 (US$ Mn) – By Spectrum of Light
Table 31. United Kingdom Machine Vision Lighting Market Revenue and Forecasts To 2030 (US$ Mn) – By Application
Table 32. Italy Machine Vision Lighting Market Revenue and Forecasts To 2030 (US$ Mn) – By Lighting Type
Table 33. Italy Machine Vision Lighting Market Revenue and Forecasts To 2030 (US$ Mn) – By Spectrum of Light
Table 34. Italy Machine Vision Lighting Market Revenue and Forecasts To 2030 (US$ Mn) – By Application
Table 35. Spain Machine Vision Lighting Market Revenue and Forecasts To 2030 (US$ Mn) – By Lighting Type
Table 36. Spain Machine Vision Lighting Market Revenue and Forecasts To 2030 (US$ Mn) – By Spectrum of Light
Table 37. Spain Machine Vision Lighting Market Revenue and Forecasts To 2030 (US$ Mn) – By Application
Table 38. Rest of Europe Machine Vision Lighting Market Revenue and Forecasts To 2030 (US$ Mn) – By Lighting Type
Table 39. Rest of Europe Machine Vision Lighting Market Revenue and Forecasts To 2030 (US$ Mn) – By Spectrum of Light
Table 40. Rest of Europe Machine Vision Lighting Market Revenue and Forecasts To 2030 (US$ Mn) – By Application
Table 41. Asia Pacific Machine Vision Lighting Market Revenue and Forecasts To 2030 (US$ Mn) – By Lighting Type
Table 42. Asia Pacific Machine Vision Lighting Market Revenue and Forecasts To 2030 (US$ Mn) – By Spectrum of Light
Table 43. Asia Pacific Machine Vision Lighting Market Revenue and Forecasts To 2030 (US$ Mn) – By Application
Table 44. Asia Pacific Machine Vision Lighting Market Revenue and Forecasts To 2030 (US$ Mn) – By Country
Table 45. China Machine Vision Lighting Market Revenue and Forecasts To 2030 (US$ Mn) – By Lighting Type
Table 46. China Machine Vision Lighting Market Revenue and Forecasts To 2030 (US$ Mn) – By Spectrum of Light
Table 47. China Machine Vision Lighting Market Revenue and Forecasts To 2030 (US$ Mn) – By Application
Table 48. Japan Machine Vision Lighting Market Revenue and Forecasts To 2030 (US$ Mn) – By Lighting Type
Table 49. Japan Machine Vision Lighting Market Revenue and Forecasts To 2030 (US$ Mn) – By Spectrum of Light
Table 50. Japan Machine Vision Lighting Market Revenue and Forecasts To 2030 (US$ Mn) – By Application
Table 51. South Korea Machine Vision Lighting Market Revenue and Forecasts To 2030 (US$ Mn) – By Lighting Type
Table 52. South Korea Machine Vision Lighting Market Revenue and Forecasts To 2030 (US$ Mn) – By Spectrum of Light
Table 53. South Korea Machine Vision Lighting Market Revenue and Forecasts To 2030 (US$ Mn) – By Application
Table 54. India Machine Vision Lighting Market Revenue and Forecasts To 2030 (US$ Mn) – By Lighting Type
Table 55. India Machine Vision Lighting Market Revenue and Forecasts To 2030 (US$ Mn) – By Spectrum of Light
Table 56. India Machine Vision Lighting Market Revenue and Forecasts To 2030 (US$ Mn) – By Application
Table 57. Australia Machine Vision Lighting Market Revenue and Forecasts To 2030 (US$ Mn) – By Lighting Type
Table 58. Australia Machine Vision Lighting Market Revenue and Forecasts To 2030 (US$ Mn) – By Spectrum of Light
Table 59. Australia Machine Vision Lighting Market Revenue and Forecasts To 2030 (US$ Mn) – By Application
Table 60. Rest of Asia Pacific Machine Vision Lighting Market Revenue and Forecasts To 2030 (US$ Mn) – By Lighting Type
Table 61. Rest of Asia Pacific Machine Vision Lighting Market Revenue and Forecasts To 2030 (US$ Mn) – By Spectrum of Light
Table 62. Rest of Asia Pacific Machine Vision Lighting Market Revenue and Forecasts To 2030 (US$ Mn) – By Application
Table 63. Middle East & Africa Machine Vision Lighting Market Revenue and Forecasts To 2030 (US$ Mn) – By Lighting Type
Table 64. Middle East & Africa Machine Vision Lighting Market Revenue and Forecasts To 2030 (US$ Mn) – By Spectrum of Light
Table 65. Middle East & Africa Machine Vision Lighting Market Revenue and Forecasts To 2030 (US$ Mn) – By Application
Table 66. Middle East & Africa Machine Vision Lighting Market Revenue and Forecasts To 2030 (US$ Mn) – By Country
Table 67. Saudi Arabia Machine Vision Lighting Market Revenue and Forecasts To 2030 (US$ Mn) – By Lighting Type
Table 68. Saudi Arabia Machine Vision Lighting Market Revenue and Forecasts To 2030 (US$ Mn) – By Spectrum of Light
Table 69. Saudi Arabia Machine Vision Lighting Market Revenue and Forecasts To 2030 (US$ Mn) – By Application
Table 70. UAE Machine Vision Lighting Market Revenue and Forecasts To 2030 (US$ Mn) – By Lighting Type
Table 71. UAE Machine Vision Lighting Market Revenue and Forecasts To 2030 (US$ Mn) – By Spectrum of Light
Table 72. UAE Machine Vision Lighting Market Revenue and Forecasts To 2030 (US$ Mn) – By Application
Table 73. South Africa Machine Vision Lighting Market Revenue and Forecasts To 2030 (US$ Mn) – By Lighting Type
Table 74. South Africa Machine Vision Lighting Market Revenue and Forecasts To 2030 (US$ Mn) – By Spectrum of Light
Table 75. South Africa Machine Vision Lighting Market Revenue and Forecasts To 2030 (US$ Mn) – By Application
Table 76. Rest of Middle East and Africa Machine Vision Lighting Market Revenue and Forecasts To 2030 (US$ Mn) – By Lighting Type
Table 77. Rest of Middle East and Africa Machine Vision Lighting Market Revenue and Forecasts To 2030 (US$ Mn) – By Spectrum of Light
Table 78. Rest of Middle East and Africa Machine Vision Lighting Market Revenue and Forecasts To 2030 (US$ Mn) – By Application
Table 79. South America Machine Vision Lighting Market Revenue and Forecasts To 2030 (US$ Mn) – By Lighting Type
Table 80. South America Machine Vision Lighting Market Revenue and Forecasts To 2030 (US$ Mn) – By Spectrum of Light
Table 81. South America Machine Vision Lighting Market Revenue and Forecasts To 2030 (US$ Mn) – By Application
Table 82. South America Machine Vision Lighting Market Revenue and Forecasts To 2030 (US$ Mn) – By Country
Table 83. Brazil Machine Vision Lighting Market Revenue and Forecasts To 2030 (US$ Mn) – By Lighting Type
Table 84. Brazil Machine Vision Lighting Market Revenue and Forecasts To 2030 (US$ Mn) – By Spectrum of Light
Table 85. Brazil Machine Vision Lighting Market Revenue and Forecasts To 2030 (US$ Mn) – By Application
Table 86. Argentina Machine Vision Lighting Market Revenue and Forecasts To 2030 (US$ Mn) – By Lighting Type
Table 87. Argentina Machine Vision Lighting Market Revenue and Forecasts To 2030 (US$ Mn) – By Spectrum of Light
Table 88. Argentina Machine Vision Lighting Market Revenue and Forecasts To 2030 (US$ Mn) – By Application
Table 89. Rest of South and Central America Machine Vision Lighting Market Revenue and Forecasts To 2030 (US$ Mn) – By Lighting Type
Table 90. Rest of South and Central America Machine Vision Lighting Market Revenue and Forecasts To 2030 (US$ Mn) – By Spectrum of Light
Table 91. Rest of South and Central America Machine Vision Lighting Market Revenue and Forecasts To 2030 (US$ Mn) – By Application
Table 92. Heat Map Analysis By Key Players
Table 93. List of Abbreviation
List of Figures
Figure 1. Machine Vision Lighting Market Segmentation, By Geography
Figure 2. PEST Analysis
Figure 3. Ecosystem: Machine Vision Lighting Market
Figure 4. Impact Analysis of Drivers and Restraints
Figure 5. Machine Vision Lighting Market Breakdown by Geography, 2022 and 2030 (%)
Figure 6. Machine Vision Lighting Market Revenue (US$ Million), 2022 – 2030
Figure 7. Machine Vision Lighting Market Share (%) – Lighting Type, 2022 and 2030
Figure 8. LEDs Market Revenue and Forecasts To 2030 (US$ Million)
Figure 9. Fiber Optic Lights (Halogen) Market Revenue and Forecasts To 2030 (US$ Million)
Figure 10. Fluorescent Lighting Market Revenue and Forecasts To 2030 (US$ Million)
Figure 11. Xenon Market Revenue and Forecasts To 2030 (US$ Million)
Figure 12. Others Market Revenue and Forecasts To 2030 (US$ Million)
Figure 13. Machine Vision Lighting Market Share (%) Spectrum of Light, 2022 and 2030
Figure 14. Visible Spectrum Market Revenue and Forecasts To 2030 (US$ Million)
Figure 15. IR Spectrum Market Revenue and Forecasts To 2030 (US$ Million)
Figure 16. UV Spectrum Market Revenue and Forecasts To 2030 (US$ Million)
Figure 17. Machine Vision Lighting Market Share (%) Application, 2022 and 2030
Figure 18. Automotive Market Revenue and Forecasts To 2030 (US$ Million)
Figure 19. Food & Beverage Market Revenue and Forecasts To 2030 (US$ Million)
Figure 20. Pharmaceuticals Market Revenue and Forecasts To 2030 (US$ Million)
Figure 21. Consumer Electronics Market Revenue and Forecasts To 2030 (US$ Million)
Figure 22. Logistics Market Revenue and Forecasts To 2030 (US$ Million)
Figure 23. Others Market Revenue and Forecasts To 2030 (US$ Million)
Figure 24. Machine Vision Lighting Market Breakdown by Region, 2022 and 2030 (%)
Figure 25. Machine Vision Lighting Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 26. Machine Vision Lighting Market Breakdown by Lighting Type (2022 and 2030)
Figure 27. Machine Vision Lighting Market Breakdown by Spectrum of Light (2022 and 2030)
Figure 28. Machine Vision Lighting Market Breakdown by Application (2022 and 2030)
Figure 29. Machine Vision Lighting Market Breakdown by Key Countries, 2022 and 2030 (%)
Figure 30. US Machine Vision Lighting Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 31. Canada Machine Vision Lighting Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 32. Mexico Machine Vision Lighting Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 33. Machine Vision Lighting Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 34. Machine Vision Lighting Market Breakdown by Lighting Type (2022 and 2030)
Figure 35. Machine Vision Lighting Market Breakdown by Spectrum of Light (2022 and 2030)
Figure 36. Machine Vision Lighting Market Breakdown by Application (2022 and 2030)
Figure 37. Machine Vision Lighting Market Breakdown by Key Countries, 2022 and 2030 (%)
Figure 38. Germany Machine Vision Lighting Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 39. France Machine Vision Lighting Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 40. United Kingdom Machine Vision Lighting Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 41. Italy Machine Vision Lighting Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 42. Spain Machine Vision Lighting Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 43. Rest of Europe Machine Vision Lighting Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 44. Machine Vision Lighting Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 45. Machine Vision Lighting Market Breakdown by Lighting Type (2022 and 2030)
Figure 46. Machine Vision Lighting Market Breakdown by Spectrum of Light (2022 and 2030)
Figure 47. Machine Vision Lighting Market Breakdown by Application (2022 and 2030)
Figure 48. Machine Vision Lighting Market Breakdown by Key Countries, 2022 and 2030 (%)
Figure 49. China Machine Vision Lighting Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 50. Japan Machine Vision Lighting Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 51. South Korea Machine Vision Lighting Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 52. India Machine Vision Lighting Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 53. Australia Machine Vision Lighting Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 54. Rest of Asia Pacific Machine Vision Lighting Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 55. Machine Vision Lighting Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 56. Machine Vision Lighting Market Breakdown by Lighting Type (2022 and 2030)
Figure 57. Machine Vision Lighting Market Breakdown by Spectrum of Light (2022 and 2030)
Figure 58. Machine Vision Lighting Market Breakdown by Application (2022 and 2030)
Figure 59. Machine Vision Lighting Market Breakdown by Key Countries, 2022 and 2030 (%)
Figure 60. Saudi Arabia Machine Vision Lighting Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 61. UAE Machine Vision Lighting Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 62. South Africa Machine Vision Lighting Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 63. Rest of Middle East and Africa Machine Vision Lighting Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 64. Machine Vision Lighting Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 65. Machine Vision Lighting Market Breakdown by Lighting Type (2022 and 2030)
Figure 66. Machine Vision Lighting Market Breakdown by Spectrum of Light (2022 and 2030)
Figure 67. Machine Vision Lighting Market Breakdown by Application (2022 and 2030)
Figure 68. Machine Vision Lighting Market Breakdown by Key Countries, 2022 and 2030 (%)
Figure 69. Brazil Machine Vision Lighting Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 70. Argentina Machine Vision Lighting Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 71. Rest of South and Central America Machine Vision Lighting Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 72. Company Positioning & Concentration
The List of Players - Machine Vision Lighting Market
- Cognex Corp
- Keyence Corp
- Wenglor Sensoric Electronic Devices GmbH
- Omron Microscan Systems, Inc.
- CCS Inc
- Smart Vision Lights
- Spectrum Illumination
- Exaktera LLC
- BASLER AG
- Schott AG
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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