South & Central America Machine Vision Lighting Market Forecast to 2030
South & Central America Machine Vision Lighting Market Forecast to 2030 – Regional Analysis – by Lighting Type [LEDs, Fiber Optic Lights (Halogen), Fluorescent Lighting, Xenon, and Others], Spectrum of Light (Visible Spectrum, IR Spectrum, and UV Spectrum), and Application (Automotive, Food & Beverage, Pharmaceuticals, Consumer Electronics, Logistics, and Others)
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Description
Increase in Adoption of Intelligent Lighting for Machine Vision Systems Fuels South & Central America Machine Vision Lighting Market
In machine vision systems, LED lights have been acknowledged as a technological basis for lighting test objects. However, there is still a need for optimization. Specific customer-specific applications lack individual mechanical and optical designs. A massive number of machine vision end users require lighting with higher intensity, coupled with lower price, as well as easier integration. The vital factors comprise customer-centric adaptation possibilities in lighting geometry, numerous selections for operation, and fast delivery times with wavelengths. The requirements for illumination systems, particularly, high power density for faster production process, which needs shorter exposure times and more luminous intensity, are witnessing a high demand. Manufacturers of machine vision lighting are thus catering to this inclination by manufacturing high-power LEDs. Constant developments in LED-based lights for complex end-user applications are anticipated to provide a prosperous opportunity to the market.
Additionally, another prevailing factor in illumination technology is intelligent lighting. Intelligent or smart lighting aims to exploit the supply of illumination systems exquisitely and thus use them more efficiently and economically. Intelligent lighting can also be used for monitoring illumination systems, and this is consequently a move toward Industry 4.0. As the dynamic application data and the technical properties of illumination are permanently available in the machine vision system, end users can be notified immediately about diminishing lighting levels and other significant changes. The increasing factory automation is resulting in the adoption of smart lighting technology in machine vision systems.
South & Central America Machine Vision Lighting Market Overview
The South American region comprises several emerging economies that are experiencing tremendous growth in their manufacturing sector. The automotive sector of Brazil is witnessing tremendous growth, as the country comprises manufacturing facilities of several automotive players such as Fiat, General Motors, Honda, Volkswagen, Renault, and Peugeot. Further, other manufacturing industries in the country include electronics, aerospace, and food & beverages. As per government sources, Brazil is anticipated to witness a high growth in the country’s automobile production capacity during the coming years.
Moreover, the growing investment in the production of EVs is fueling the growth of the automotive manufacturing industry. The growing demand for EVs equipped with safety features is making EV manufacturers increase their manufacturing capabilities, further aiding the usage of automotive high-voltage cables in vehicles. In 2021, all major vehicle markets in the region reported an increase in EV sales. As per the local electric vehicle association ABVE, EV sales in Brazil reached around 35,000 in 2021, an increase of 77% compared to 2020, and the trend of sales is expected to continue in the coming years. Also, governments of other emerging economies in the region are taking several initiatives to support industrial growth. For instance, Argentina is concentrating on attracting FDIs by taking several initiatives such as easing import restrictions, signing international bilateral agreements, and removing restrictions on foreign investment. Such initiatives are expected to help in the development of businesses in South America. Also, the automotive industry, pharmaceutical industry, consumer electronics industry, and packaging industry in Latin America are the biggest users of machine vision systems.
South & Central America Machine Vision Lighting Market Revenue and Forecast to 2030 (US$ Million)
South & Central America Machine Vision Lighting Market Segmentation
The South & Central America machine vision lighting market is segmented based on lighting type, spectrum of light, application, and country. Based on lighting type, the South & Central America machine vision lighting market is categorized into LEDs, fiber optic lights (halogen), fluorescent lighting, xenon, and others. The LEDs segment held the largest market share in 2022.
In terms of spectrum of light, the South & Central America machine vision lighting market is categorized into visible spectrum, IR spectrum, and UV spectrum. The visible spectrum segment held the largest market share in 2022.
Based on application, the South & Central America machine vision lighting market is categorized into automotive, food & beverage, pharmaceuticals, consumer electronics, logistics, and others. The automotive segment held the largest market share in 2022.
By country, the South & Central America machine vision lighting market is segmented into Brazil, Argentina, and the Rest of South & Central America. Brazil dominated the South & Central America machine vision lighting market share in 2022.
Schott AG, Exactera LLC, Spectrum Illumination, Smart Vision Lights, Omron Microscan Systems Inc, wenglor sensoric GmbH, Keyence Corp, and Cognex Corp are some of the leading companies operating in the South & Central America machine vision lighting market.
Summary Info
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According to the Research Team’ research, the South & Central America machine vision lighting market was valued at US$ 80.62 million in 2022 and is expected to reach US$ 127.47 million by 2030, registering a CAGR of 5.9% from 2022 to 2030. Multispectral and hyperspectral lighting and customized lighting solutions for specific industries are among the critical factors attributed to the South & Central America machine vision lighting market expansion.
Multispectral and hyperspectral imaging enables the capture of spectral information across different wavelengths, facilitating detailed material analysis. It contributes to improved quality control by revealing subtle defects or variations that may not be visible in traditional imaging. It also helps in capturing and analyzing information beyond the visible spectrum, providing valuable insights for various applications. Lighting solutions designed for multispectral and hyperspectral systems are essential to provide uniform illumination and enhance contrast, ensuring the accurate detection of defects in diverse materials. Multispectral and hyperspectral imaging find applications in precision agriculture for crop monitoring, disease detection, and nutrient analysis. Lighting solutions designed for agricultural machine vision systems are developed to support the specific spectral requirements of these applications, optimizing imaging conditions for accurate analysis. Thus, multispectral and hyperspectral imaging in the machine vision industry influences the development of specialized lighting solutions. These lighting advancements contribute to improved imaging accuracy, enhanced material analysis, and expanded applications across various industries owing to which a significant trend in the machine vision industry can be observed.
On the contrary, complicated end user requirement hurdles the growth of South & Central America machine vision lighting market.
Based on lighting type, the South & Central America machine vision lighting market is categorized into LEDs, fiber optic lights (halogen), fluorescent lighting, xenon, and others. The LEDs segment held 67.5% share of South & Central America machine vision lighting market in 2022, amassing US$ 54.42 million. It is projected to garner US$ 88.08 million by 2030 to expand at 6.2% CAGR during 2022–2030.
In terms of spectrum of light, the South & Central America machine vision lighting market is categorized into visible spectrum, IR spectrum, and UV spectrum. The visible spectrum segment held 81.3% share of South & Central America machine vision lighting market in 2022, amassing US$ 65.57 million. It is projected to garner US$ 104.74 million by 2030 to expand at 6.0% CAGR during 2022–2030.
Based on application, the South & Central America machine vision lighting market is categorized into automotive, food & beverage, pharmaceuticals, consumer electronics, logistics, and others. The automotive segment held 28.5% share of South & Central America machine vision lighting market in 2022, amassing US$ 23.01 million. It is projected to garner US$ 40.16 million by 2030 to expand at 7.2% CAGR during 2022-2030.
By country, the South & Central America machine vision lighting market has been categorized into Brazil, Argentina, and the Rest of South & Central America. Our regional analysis states that Brazil captured 56.0% share of South & Central America machine vision lighting market in 2022. It was assessed at US$ 45.11 million in 2022 and is likely to hit US$ 75.68 million by 2030, exhibiting a CAGR of 6.7% during 2022-2030.
Key players operating in the South & Central America machine vision lighting market are Schott AG, Exactera LLC, Spectrum Illumination, Smart Vision Lights, Omron Microscan Systems Inc, wenglor sensoric GmbH, Keyence Corp, and Cognex Corp, among others.
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.
o Highlights key business priorities in order to assist companies to realign their business strategies.
o The key findings and recommendations highlight crucial progressive industry trends in the South & Central America machine vision lighting market, thereby allowing players across the value chain to develop effective long-term strategies.
o Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
o Scrutinize in-depth South & Central America market trends and outlook coupled with the factors driving the South & Central America machine vision lighting market, as well as those hindering it.
o Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing, and distribution.
1. Introduction
1.1 The the Reporting Teams 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. South & Central America Machine Vision Lighting Market Landscape
4.1 Overview
4.2 Ecosystem Analysis
4.2.1 List of Vendors in Value Chain
5. South & Central America Machine Vision Lighting Market – Key Industry Dynamics
5.1 Market Drivers
5.1.1 Extensive Demand for High Production Output
5.1.2 Rapid Expansion of Manufacturing Industry
5.1.3 Increasing Automation Across Industries
5.2 Market Restraints
5.2.1 Complicated End User Requirement
5.2.2 Lack of Skilled Professionals in Manufacturing Industry
5.3 Market Opportunities
5.3.1 Increase in Adoption of Intelligent Lighting for Machine Vision Systems
5.3.2 Customized Lighting Solutions for Specific Industries
5.4 Future Trends
5.4.1 Multispectral and Hyperspectral Lighting
5.5 Impact of Drivers and Restraints:
6. Machine Vision Lighting Market – South & Central America Analysis
6.1 Machine Vision Lighting Market Revenue (US$ Million), 2020-2030
6.2 Machine Vision Lighting Market Forecast and Analysis
7. South & Central America Machine Vision Lighting Market Analysis – by 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. South & Central America Machine Vision Lighting Market Analysis – by 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. South & Central America Machine Vision Lighting Market Analysis – by 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. South & Central America Machine Vision Lighting Market – Country Analysis
10.1 South & Central America Machine Vision Lighting Market Overview
10.1.1 South America Machine Vision Lighting Market, by Key Country, 2022 and 2030 (%)
10.1.1.1 South & Central America Machine Vision Lighting Market Revenue and Forecasts and Analysis – By Country
10.1.1.2 Brazil Machine Vision Lighting Market Revenue and Forecasts to 2030 (US$ Mn)
10.1.1.2.1 Brazil Machine Vision Lighting Market Revenue and Forecasts by Lighting Type
10.1.1.2.2 Brazil Machine Vision Lighting Market Revenue and Forecasts by Spectrum of Light
10.1.1.2.3 Brazil Machine Vision Lighting Market Revenue and Forecasts by Application
10.1.1.3 Argentina Machine Vision Lighting Market Revenue and Forecasts to 2030 (US$ Mn)
10.1.1.3.1 Argentina Machine Vision Lighting Market Revenue and Forecasts by Lighting Type
10.1.1.3.2 Argentina Machine Vision Lighting Market Revenue and Forecasts by Spectrum of Light
10.1.1.3.3 Argentina Machine Vision Lighting Market Revenue and Forecasts by Application
10.1.1.4 Rest of South & Central America Machine Vision Lighting Market Revenue and Forecasts to 2030 (US$ Mn)
10.1.1.4.1 Rest of South & Central America Machine Vision Lighting Market Revenue and Forecasts by Lighting Type
10.1.1.4.2 Rest of South & Central America Machine Vision Lighting Market Revenue and Forecasts by Spectrum of Light
10.1.1.4.3 Rest of South & Central America Machine Vision Lighting Market Revenue and Forecasts by Application
11. Competitive Landscape
11.1 Heat Map Analysis by Key Players
11.2 Company Positioning & Concentration
12. Industry Landscape
12.1 Overview
12.2 Market Initiative
12.3 Product Development
12.4 Mergers & Acquisitions
13. Company Profiles
13.1 Cognex Corp
13.1.1 Key Facts
13.1.2 Business Description
13.1.3 Products and Services
13.1.4 Financial Overview
13.1.5 SWOT Analysis
13.1.6 Key Developments
13.2 Keyence Corp
13.2.1 Key Facts
13.2.2 Business Description
13.2.3 Products and Services
13.2.4 Financial Overview
13.2.5 SWOT Analysis
13.2.6 Key Developments
13.3 wenglor sensoric GmbH
13.3.1 Key Facts
13.3.2 Business Description
13.3.3 Products and Services
13.3.4 Financial Overview
13.3.5 SWOT Analysis
13.3.6 Key Developments
13.4 Omron Microscan Systems, Inc.
13.4.1 Key Facts
13.4.2 Business Description
13.4.3 Products and Services
13.4.4 Financial Overview
13.4.5 SWOT Analysis
13.4.6 Key Developments
13.5 Smart Vision Lights
13.5.1 Key Facts
13.5.2 Business Description
13.5.3 Products and Services
13.5.4 Financial Overview
13.5.5 SWOT Analysis
13.5.6 Key Developments
13.6 Spectrum Illumination
13.6.1 Key Facts
13.6.2 Business Description
13.6.3 Products and Services
13.6.4 Financial Overview
13.6.5 SWOT Analysis
13.6.6 Key Developments
13.7 Exaktera LLC
13.7.1 Key Facts
13.7.2 Business Description
13.7.3 Products and Services
13.7.4 Financial Overview
13.7.5 SWOT Analysis
13.7.6 Key Developments
13.8 Schott AG
13.8.1 Key Facts
13.8.2 Business Description
13.8.3 Products and Services
13.8.4 Financial Overview
13.8.5 SWOT Analysis
13.8.6 Key Developments
14. Appendix
14.1 About the the Reporting Teams
14.2 Word Index
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. South & Central America Machine Vision Lighting Market Revenue and Forecasts to 2030 (US$ Mn) – By Country
Table 7. Brazil Machine Vision Lighting Market Revenue and Forecasts to 2030 (US$ Mn) – By Lighting Type
Table 8. Brazil Machine Vision Lighting Market Revenue and Forecasts to 2030 (US$ Mn) – By Spectrum of Light
Table 9. Brazil Machine Vision Lighting Market Revenue and Forecasts to 2030 (US$ Mn) – By Application
Table 10. Argentina Machine Vision Lighting Market Revenue and Forecasts to 2030 (US$ Mn) – By Lighting Type
Table 11. Argentina Machine Vision Lighting Market Revenue and Forecasts to 2030 (US$ Mn) – By Spectrum of Light
Table 12. Argentina Machine Vision Lighting Market Revenue and Forecasts to 2030 (US$ Mn) – By Application
Table 13. Rest of South & Central America Machine Vision Lighting Market Revenue and Forecasts to 2030 (US$ Mn) – By Lighting Type
Table 14. Rest of South & Central America Machine Vision Lighting Market Revenue and Forecasts to 2030 (US$ Mn) – By Spectrum of Light
Table 15. Rest of South & Central America Machine Vision Lighting Market Revenue and Forecasts to 2030 (US$ Mn) – By Application
Table 16. Heat Map Analysis by Key Players
Table 17. List of Abbreviation
Figure 1. Machine Vision Lighting Market Segmentation, By Country
Figure 2. Ecosystem: Machine Vision Lighting Market
Figure 3. Machine Vision Lighting Market – Key Industry Dynamics
Figure 4. Impact Analysis of Drivers and Restraints
Figure 5. Machine Vision Lighting Market Revenue (US$ Million), 2020-2030
Figure 6. Machine Vision Lighting Market Share (%) – Lighting Type, 2022 and 2030
Figure 7. LEDs Market Revenue and Forecasts to 2030 (US$ Million)
Figure 8. Fiber Optic Lights (Halogen) Market Revenue and Forecasts to 2030 (US$ Million)
Figure 9. Fluorescent Lighting Market Revenue and Forecasts to 2030 (US$ Million)
Figure 10. Xenon Market Revenue and Forecasts to 2030 (US$ Million)
Figure 11. Others Market Revenue and Forecasts to 2030 (US$ Million)
Figure 12. Machine Vision Lighting Market Share (%) Spectrum of Light, 2022 and 2030
Figure 13. Visible Spectrum Market Revenue and Forecasts to 2030 (US$ Million)
Figure 14. IR Spectrum Market Revenue and Forecasts to 2030 (US$ Million)
Figure 15. UV Spectrum Market Revenue and Forecasts to 2030 (US$ Million)
Figure 16. Machine Vision Lighting Market Share (%) Application, 2022 and 2030
Figure 17. Automotive Market Revenue and Forecasts to 2030 (US$ Million)
Figure 18. Food & Beverage Market Revenue and Forecasts to 2030 (US$ Million)
Figure 19. Pharmaceuticals Market Revenue and Forecasts to 2030 (US$ Million)
Figure 20. Consumer Electronics Market Revenue and Forecasts to 2030 (US$ Million)
Figure 21. Logistics Market Revenue and Forecasts to 2030 (US$ Million)
Figure 22. Others Market Revenue and Forecasts to 2030 (US$ Million)
Figure 23. South & Central America Machine Vision Lighting Market, by Key Country – Revenue (2022) (US$ Million)
Figure 24. Machine Vision Lighting Market Breakdown by Key Countries, 2022 and 2030 (%)
Figure 25. Brazil Machine Vision Lighting Market Revenue and Forecasts to 2030 (US$ Mn)
Figure 26. Argentina Machine Vision Lighting Market Revenue and Forecasts to 2030 (US$ Mn)
Figure 27. Rest of South & Central America Machine Vision Lighting Market Revenue and Forecasts to 2030 (US$ Mn)
Figure 28. Company Positioning & Concentration
The List of Companies – South & Central America Machine Vision Lighting Market
1. Schott AG
2. Exactera LLC
3. Spectrum Illumination
4. Smart Vision Lights
5. Omron Microscan Systems Inc
6. wenglor sensoric GmbH
7. Keyence Corp
8. Cognex Corp
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