Report : South America 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)
Consumer Electronics is Expected to be Fastest Growing Segment During the Forecast Period for SAM Region
According to a new market research study on “SAM 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$ 114.17 million by 2028 from 74.56 US$ million in 2021. The market is estimated to grow at a CAGR of 6.3% from 2021 to 2028. The report provides trends prevailing in the SAM machine vision lighting market along with the drivers and restraints pertaining to the market growth. Non-industrial sector implementing machine vision is the major factor driving the growth of the SAM machine vision lighting market. However, issues associated with complicated end-user requirements hinders the growth of SAM machine vision lighting market.
SAM machine vision lighting market is segmented into lighting type, spectrum of light, application, and country. Based on lighting type, the SAM 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 SAM 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 SAM 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 SAM machine vision lighting market is segmented into Brazil, Argentina, and rest of SAM. Rest of SAM held the largest market share in 2020.
Brazil has the highest number of COVID-19 confirmed cases in SAM, followed by Ecuador, Chile, Peru, and Argentina. The COVID-19 pandemic has led to the closure of all economic activities across the region to combat the spread of the virus. The closure of manufacturing activities across major SAM countries, such as Brazil and Argentina, to combat the spread is adversely affecting the new adoption of technology. The COVID-19 crisis hindered the manufacturing industry across Argentina, which was already weakened by the recession of previous years. This has influenced government bodies to take necessary steps to boost the sector across the country over the years. Though the machine vision lighting market is adversely affected due to the outbreak, but the government initiative to attract investors in the sector is expected to influence the adoption of the technology across various industries in SAM in the coming years.
Advanced Illumination Inc; EFFILUX; Moritex Corporation; National Instruments Corporation; Omron Microscan System, Inc.; Smart Vision Lights; Spectrum Illumination; and TPL Vision are among the leading companies in the SAM 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 UltraSeal Washdown Bar Lights. The AL247 Bar Lights are IP69K certified, and their design is virtually crevice-free, making them ideal for hygienic inspection environments, aseptic manufacturing, and food and beverage applications.