InGaAs Camera Market Global Analysis by Industry Size, Share, New Trends, Opportunities, Sales Strategies, Revenue, Top Leading Players And Business Growth By Forecast 2020 To 2024

Market Outlook

The global InGaAs camera market size can touch USD 146.4 million by 2023. It can exhibit 9.86% CAGR from 2020 to 2024 (forecast period).

Adoption of automation solutions as well as advanced technologies can drive the market growth. Technological breakthroughs the likes of better resolutions and image quality, small pixel noises, low noise imaging, high sensitivity, and better yields can augment the market size till 2024. Indium gallium arsenide (InGaAs) cameras are used primarily in military and defense applications. Covert and surveillance mission make use of infrared (IR) technology to gain visibility during nights or atmospheric haze. The global InGaAs camera market report by Market Research Future (MRFR) analyzes various drivers and restraints while considering market dynamics and fluctuations in the demand and supply chain.

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The utilization of short-wave infrared (SWIR) cameras for automated inspections in semiconductor, pharmaceutical, and other industrial sectors is predicted to impact the market growth. The emergence of industrial automation for condition monitoring of robots and automated process is likely to boost the market demand. Other applications for removing unwanted matter from fruits and vegetables during sorting and color detection in the agriculture sector can bode favorably for the market.

But policies on import and export activities between nations can hamper the InGaAs market.

Competitive Outlook

Prominent names in the global InGaAs camera market include Teledyne Technologies, Jenoptik AG, Hamamatsu Photonics K.K., First Sensor, New Imaging Technologies, Allied Vision Technologies, Sensors Unlimited, FLIR Systems, Xenics, Lumentum, and others. Product approvals and launches, filing of patents, and events showcasing the latest advances in camera technology are various strategies adopted by these players to continue to sustain their position in the market.

Industry News

In 2019, Allied Vision announced the latest iteration of its SWIR camera, the Goldeye G/CL-033 TECless InGaAs SWIRcamera. It is compatible with 3 types of lenses, M-42 Mount, C-Mount, and F-Mount.

Segmentation Analysis

The global InGaAs camera market is segmented by scanning type, camera cooling technology, and application.

By scanning type, it is segmented into area scan and line scan cameras. The area scan camera segment is likely to contribute significant revenue to the InGaAs camera market, while line scan cameras are predicted to exhibit a robust CAGR during the forecast period.

By camera cooling technology, it is segmented into cooled and uncooled camera. The uncooled camera segment can occupy a large share of the InGaAs market till 2023, while the cooled segment can experience a robust CAGR during the assessment period.

By application, it is segmented into spectroscopy, industrial automation, scientific research, surveillance, military & defense, safety & security, and others. The military & defense segment is likely to hold the biggest share of the market, while industrial automation can exhibit the highest CAGR during the forecast period. Machine vision coupled with integration of robots with InGaAs cameras can drive the industrial automation segment.

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Regional Analysis

Europe, Asia Pacific (APAC), North America, and Rest-of-the-World (RoW) are major regions considered in the InGaAs camera market report.

North America is touted to dominate the market due to presence of various InGaAs providers in the region. Presence of numerous military & defense solution providers can drive the regional market growth. Developments in scientific research continue to be an open field for the market.

On the other hand, the APAC region can be expected to grow magnanimously during the forecast period due to high industrial growth and economic developments. The increased defense budget expenditures of Japan, China, and India coupled with the implementation of advanced technologies in the security sector can drive the regional InGaAs market growth.

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This release was published on openPR.