PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1454078
PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1454078
According to Stratistics MRC, the Global Machine Vision Lighting Market is accounted for $1.74 billion in 2023 and is expected to reach $3.33 billion by 2030 growing at a CAGR of 9.7% during the forecast period. Machine vision lighting, a critical component in automated visual inspection systems, enhances image quality for industrial applications. Employing various technologies like LED, halogen, or fluorescent, it ensures optimal illumination for cameras to capture high-quality images. Precision in lighting is crucial for accurate object recognition, defect detection, and quality control in manufacturing processes. Adjustable in intensity, wavelength, and direction, machine vision lighting adapts to diverse production environments.
Rising demand for high production output
The need for high production output often drives industries to adopt automation solutions, including machine vision systems. These systems, when equipped with efficient lighting, play a crucial role in automating inspection, quality control, and other production processes. Moreover, machine vision lighting solutions need to provide optimal illumination to enable quick and accurate image analysis, ensuring that production lines can maintain high throughput rates without compromising quality drives the market growth.
High initial investment costs
SMEs often have tighter budgets and may hesitate to invest in a technology perceived as expensive upfront, even if it offers long-term benefits like improved quality control and efficiency. This limits the overall market penetration of machine vision lighting solutions. Even larger companies with more resources might be cautious about making significant upfront investments, especially if the return on investment (ROI) is not immediately apparent or requires a longer timeframe to materialize. This can lead to delayed adoption and slower market growth.
Rapid expansion of the manufacturing industry
The expansion of the manufacturing industry leads to a higher adoption rate of machine vision systems for tasks such as quality control, inspection, and automation. Machine vision lighting is a critical component for ensuring accurate and reliable image capture in these systems. Machine vision lighting becomes an integral part of modern manufacturing processes and is integrated into production lines for tasks such as part recognition, assembly verification, and surface inspection. The seamless integration enhances overall production efficiency encouraging the market growth.
Integration Complexity
Integrating the lighting system with existing equipment, configuring software, and ensuring proper functionality requires additional time and resources from engineers and technicians. This translates to increased costs beyond the initial purchase price of the lighting components. Moreover successfully integrating and maintaining machine vision lighting systems often requires specialized skills in areas like automation, electrical engineering, and software configuration. The lack of readily available personnel with these skills in some regions can further hinder adoption.
Covid-19 Impact
The machine vision lighting market, like many other industries, experienced disruptions in the supply chain due to factory closures, transportation restrictions, and delays in the delivery of components. This affected the production and availability of machine vision lighting products and many industries that use machine vision systems, such as manufacturing and automotive, faced project delays and postponed installations during the pandemic. This led to a temporary decline in the demand for machine vision lighting solutions.
The xenon segment is expected to be the largest during the forecast period
The xenon segment is estimated to have a lucrative growth, owing to their high-intensity light with a broad spectrum that closely resembles natural sunlight. This makes them ideal for applications in machine vision where accurate color representation and high contrast are crucial. Xenon lamps typically have a high color rendering index (CRI), which means they can reproduce colors accurately. This is essential in machine vision applications where color accuracy is critical, such as in quality control and inspection processes.
The electronics & semiconductor segment is expected to have the highest CAGR during the forecast period
The electronics & semiconductor segment is anticipated to witness the highest CAGR growth during the forecast period, as they are often utilize machine vision systems for quality control and inspection during the production of electronic components and is crucial for ensuring accurate imaging and inspection of intricate details in semiconductor manufacturing processes, such as the inspection of microchips and circuit boards. Thus, as the electronics & semiconductor industry embraces automation for improved efficiency and precision, the demand for machine vision solutions, including advanced lighting systems, increases.
Asia Pacific is projected to hold the largest market share during the forecast period as the Asia Pacific region is home to a large and growing manufacturing sector, which is a major driver of demand for machine vision lighting. As manufacturing processes become more automated, the need for machine vision systems to inspect products for defects and ensure quality control is increasing. Further as automation is becoming increasingly important in manufacturing industries across the globe, and the Asia Pacific region is no exception.
North America is projected to have the highest CAGR over the forecast period, owing to industries implementing machine vision systems for quality control and inspection purposes, leading to increased demand for efficient and reliable lighting solutions to ensure accurate image capture. Moreover the increasing trend towards automation in manufacturing processes in this region boosts the adoption of machine vision systems, thereby driving the demand for associated components like lighting.
Key players in the market
Some of the key players in the Machine Vision Lighting Market include Hitachi Kokusai Electric Inc, Illumination Technologies, Inc., Innovations in Optics, Inc., Metaphase Technologies Inc., Keyence Corporation, Jenoptik AG, Omron Corporation, Panasonic Corporation, Smart Vision Lights, Navitar, Inc., Advanced illumination, Inc., Baumer Holding AG, Coherent, Inc., Edmund Optics Inc., Falcon Illumination, Stemmer Imaging AG, Moritex Corporation, Effilux and Phlox Corp.
In March 2024, Panasonic Expands Its Water Solutions Business in Indonesia This will contribute to enhance the quality of life for the Indonesian people through an expanded business in water-related solutions, encompassing equipment sales and services.
In February 2024, OMRON Automation has announced introduction of TM S Series Collaborative Robots in its robotics portfolio in India. This latest addition to OMRON's innovative lineup combines faster joints and expanded safety features
In January 2024, Keyence is scheduled to release a vision system with built-in AI VS series and a telecentric measurement system TM-X5000 series in March 2024. They will also release a new product, a confocal displacement sensor CL-3000 series.