Report : Europe Machine Vision Lighting Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Lighting Type [LEDs, Fiber Optic Lights (Halogen), Florescent Lighting, and Xenon], Spectrum of Light (Visible Spectrum, UV Spectrum, and IR Spectrum), and Application (Automotive, Consumer Electronics, Food & Beverages, Pharmaceuticals, Logistics, and Others)
Visible Spectrum Segment to Dominate Europe Machine Vision Lighting Market during 2020–2028
According to a new market research study on “Europe 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$ 601.43 million by 2028 from 347.02 US$ million in 2021. The market is estimated to grow at a CAGR of 8.2% from 2021 to 2028. The report provides trends prevailing in the Europe machine vision lighting market along with the drivers and restraints pertaining to the market growth. Manufacturing industry getting expanded and usage of advanced techniques is the major factor driving the growth of the Europe machine vision lighting market. However, issues associated with complex end-user requirements hinders the growth of Europe machine vision lighting market.
Europe machine vision lighting market is segmented into lighting type, spectrum of light, application, and country. Based on lighting type, the Europe 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 Europe 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 Europe 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 Europe machine vision lighting market is segmented into France, Germany, Italy, UK, Russia, and rest of Europe. Germany held the largest market share in 2020.
As selected countries observed a rise in the number of COVID-19 confirmed cases and subsequently witnessed the strict and longer lockdown periods or social isolation, the effect of the COVID-19 pandemic varied from country to country throughout Europe. However, due to the strong healthcare system, Western European countries such as Germany, France, Russia, and the UK have seen a comparatively modest decrease in their development activities. European government to protect its population from the virus spread has made huge investments in the implementation of technology in its healthcare systems for better detection of symptoms of the virus. Machine vision lighting in the region is being adopted across the manufacturing industry to efficiently detect and treat problems in production, which positively impacts the market. However, due to the temporary closure of all economic activities in the region, the adoption of technologies has experienced a dip across all other major industries in the region such as manufacturing, retail, and automotive. This is further expected to restrain the market growth over the years. Thus, the COVID-19 outbreak is expected to have a moderate to low impact on the machine vision lighting market in 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 Europe 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 released its SL256 High Intensity Pattern Projecting Spotlight, a new structured LED light projector featuring a large cluster of high-intensity LEDs. With significantly higher output intensity, the SL256 is up to 9x brighter than the existing SL191 Pattern Projecting Spotlight and more than 3x brighter than the leading competitive structured light projector.