The machine vision lighting market size is projected to reach US$ 2.88 billion by 2030 from US$ 1.59 billion in 2022. The market is expected to register a CAGR of 7.7% during 2022–2030. The rising adoption of rugged machine vision lighting in hazardous environments is likely to remain a key trends in the market.
Machine Vision Lighting Market Analysis
Growing demand for fiber optic lights and growing need for improved quality and productivity in manufacturing processes are driving the market. The market is projected to expand at a significant pace during the forecast period, due to the increasing adoption of machine vision lighting in hazardous environments. Moreover, development of technologically advanced machine vision lighting and expanding manufacturing industries are creating lucrative opportunities for the market.
Machine Vision Lighting Market Overview
Machine vision lighting refers to the application of specific lighting techniques and equipment in the field of machine vision. This technology allows machines to capture and interpret visual information from their surroundings. Proper lighting in machine vision applications is critical for improving image quality and accuracy. Machine vision lighting is intended to maximize the illumination of objects or scenes under inspection or analysis by machine vision systems. Significant benefits offered by machine vision lighting, such as Color accuracy, Contrast, Eliminating glare, Contrast, and Reducing noise, among others, are boosting the market.
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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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Machine Vision Lighting Market Drivers and Opportunities
Growing Demand for Fiber Optic Lights to Favor Market
Fiber optic lighting can maximize light homogeneity in the field of view while minimizing lamp output variances. When considering a wide range of applications, fiber optic lighting is highly suitable and offers a combination of intense, focused (or targeted), and uniform light. When combined with filters, optical fibers can exclude or enhance wavelengths, optimizing output for contrast control or avoiding heat. Fiber optics can be constructed to perform in extremely small spaces if the application requires it. Light can be transmitted through single fibers as small as 30 µm. If the application is in a high-temperature environment, fiber optics can work with a remote light source. Standard fiber optic lighting systems can withstand ambient temperatures up to 300 °C.
Development of Technologically Advanced Machine Vision Lighting
Businesses are highly demanding technologically advanced products or solutions to seamlessly work in harsh conditions. Smart Vision Lights (SVL), a market leader in the design and manufacture of innovative LED illumination solutions, has introduced the JWL150-DO Lightgistics series light, suitable for harsh environments. JWL150-DO Lightgistics series light is equipped with Hidden Strobe technology, which provides the benefits of strobing without the distraction and disorientation associated with LED strobe lights. The Hidden Strobe technology enables LEDs to self-trigger thousands of times per second, pulsing faster than the human eye can perceive and giving the appearance of continuous illumination. The technology improves machine vision systems while safeguarding employees from the confusion produced by flashing lights.
Machine Vision Lighting Market Report Segmentation Analysis
Key segments that contributed to the derivation of the machine vision lighting market analysis are lighting type, spectrum of light, and application.
- Based on lighting type, the machine vision lighting market is divided into LEDs, fiber optic lights (halogen), fluorescent lighting, xenon, and others. The LEDs segment held a larger market share in 2022.
- By spectrum of light, the market is bifurcated into visible spectrum, IR spectrum, and UV spectrum. The IR spectrum segment held a larger market share in 2022.
- In terms of application, the market is divided into automotive, food & beverage, pharmaceuticals, consumer electronics, logistics, and others. The consumer electronics segment held a larger market share in 2022.
Machine Vision Lighting Market Share Analysis by Geography
The geographic scope of the machine vision lighting market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.
The market in Asia Pacific is projected to expand during the forecast period, due to a growing number of manufacturing activities. Countries including China, India, Japan, and South Korea are expanding their manufacturing units to fulfill customers' demands. Additionally, the miniaturization of consumer electronics and growing production of passenger cars are creating opportunities in the market.
Machine Vision Lighting Market Report Scope
Machine Vision Lighting Market News and Recent Developments
The machine vision lighting market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the machine vision lighting market are listed below:
- Smart Vision Lights introduced the LHI-DO Lightgistics series light, which is available in 300 mm and 600 mm models designed to deliver intense linear light in high-speed scan tunnel systems. LHI-DO Lightgistics series light is a machine vision light equipped with hidden strobe technology. The light delivers the benefits of LED strobing while minimizing the disruption and disorientation associated with bright, pulsing lights. (Source: Smart Vision Lights, Company Website, February 2024).
Machine Vision Lighting Market Report Coverage and Deliverables
The “Machine Vision Lighting Market Size and Forecast (2020–2030)” report provides a detailed analysis of the market covering below areas:
- Machine vision lighting market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Machine vision lighting market trends as well as market dynamics such as drivers, restraints, and key opportunities
- Detailed PEST/Porter’s Five Forces and SWOT analysis
- Machine vision lighting market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the machine vision lighting market
- Detailed company profiles
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
Asia Pacific dominated the machine vision lighting market in 2022.
Growing demand for fiber optic lights and growing need for improved quality and productivity in manufacturing processes are the major factors that propel the global machine vision lighting market.
The rising adoption of rugged machine vision lighting in hazardous environments 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, Wenglor Sensoric Electronic Devices GmbH, Omron Microscan Systems, Inc, CCS Inc, Smart Vision Lights, Spectrum Illumination, Exaktera LLC, BASLER AG, and Schott AG.
The global machine vision lighting market is estimated to register a CAGR of 7.7% during the forecast period 2022–2030.
The global machine vision lighting market is expected to reach US$ 2.88 billion by 2030.
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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