InGaAs Camera Market to Garner $183.35 million, Globally, by 2028 at 7.9% CAGR: The Insight Partners

According to the new research report published by The Insight Partners, titled "InGaAs Camera Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Camera Cooling Technology (Cooled Camera and Uncooled Camera), Scanning Type (Area Scan Camera and Line Scan Camera), and Application (Military & Defense, Industrial Automation, and Scientific Research)", The InGaAs camera market was valued at US$ 107.99 million in 2021 and is expected to reach US$ 183.35 million by 2028; it is estimated to grow at a CAGR of 7.9% from 2021 to 2028.

An increasing partnership between government bodies of various regions and the tech giants is creating attractive opportunities for the InGaAs camera market. For example, the Sensors and Electron Devices Directorate (SEDD) and US Army research laboratory's Sensor have developed quantum well-infrared detector (QWID) technology. Sensors Unlimited is the leader of short-wave infrared InGaAs cameras, photodiodes, and arrays for night vision technology. It works with the Department of Defense of the US on various projects through the Defense Advanced Research Projects Agency (DARPA) and the Night Vision Laboratory (NVL) of the US Army. Thus, the above factors are driving the regional and global InGaAs camera market growth.

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The global InGaAs camera market is segmented into five major regions - North America, Europe, Asia Pacific, MEA, and SAM. North America held the largest market share in 2020, followed by APAC and Europe. APAC is anticipated to register the highest CAGR in the market during the forecast period. The increasing adoption by the military & defense industries and the rising penetration of machine vision systems fuel the InGaAs camera market growth. In addition, due to the advancements in technology, North America has been highly competitive, with the US being a developed country accepting modern technology electronic devices. The region has several technological giants that invest significant amounts in developing advanced technologies. With the increasing demand for high-quality and efficient electronic devices among Americans, OEMs focus on developing advanced technological devices. The North America InGaAs camera market is anticipated to grow in the coming years due to the presence of prominent players in military and defense, scientific research, and industrial automation, such as Teledyne Technologies, FLIR Systems, and Sensors Unlimited. Moreover, according to the World Bank collection of development indicators, the military expenditure of the US was around 3.74 % of its GDP in 2020, which is compiled from officially recognized sources. Therefore, the increasing spending on military and defense is expected to propel the market in North America during the forecast period.

The global InGaAs camera market is segmented on the basis of camera cooling technology, scanning type, and application. Based on camera cooling technology, the market is segmented into uncooled camera and cooled camera. Based on scanning type, the InGaAs camera market is bifurcated into area scan camera and line scan camera. By application, the market is segmented into military & defense, industrial automation, and scientific research. In terms of geography, the InGaAs camera market is segmented into North America (the US, Canada, and Mexico), Europe (France, Germany, Italy, the UK, Russia, and the Rest of Europe), Asia Pacific (Australia, China, India, South Korea, Japan, and the Rest of APAC), Middle East and Africa (South Africa, Saudi Arabia, the UAE, and the Rest of MEA), and SAM (Brazil, Argentina, and the Rest of SAM).

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Rising Usage of Machine Vision Systems Propels InGaAs Camera Market Growth

This technology substitutes human visual sense and judgment capabilities with digital cameras and image processing to complement manual inspections and measurements. Different industries incorporate this technology to automate their production and improve product quality and speed.The rising demand for high-quality inspection and automation in various industries is driving the need for machine vision, eventually bolstering the InGaAs camera market. Moreover, the demand for machine vision systems for 3D inspection and vision-guided robots is further driving the InGaAs camera market's growth. Increasing research and development and the launch of new products by market players are also propelling the InGaAs camera market substantially. For example, Xenics NV offers a small, low-cost, uncooled InGaAs camera to increase the productivity of industrial machine vision systems. Thus, technological advancements in InGaAs cameras are driving the InGaAs camera market's growth.

Camera Cooling Technology-Based Insights
Based on camera cooling technology, the InGaAs camera market is segmented into uncooled camera and cooled camera. The uncooled camera segment held a larger market share in 2021. In uncooled camera technology, the imaging sensor does not require cryogenic cooling. A few applications of uncooled cameras are military, defense and aerospace, industrial inspection, food inspection, telecommunications, and spectroscopy. Military applications often require the continuous use of cameras to avoid the possibility of missing any terrorist threats. Moreover, increasing demand for nondestructive testing, adoption of automation in industries, and increasing adoption of machine vision applications are expected to propel the demand for uncooled cameras and drive the InGaAs camera market growth during the forecast period.

InGaAs Camera Market: Competitive Landscape and Key Developments

Hamamatsu Photonics K.K.; Allied Vision Technologies GmbH; New Imaging Technologies; Pembroke Instruments, LLC; Polytec GmbH; Raptor Photonics Limited; Sensors Unlimited; SWIR Vision Systems Inc.; and Xenics N.V are among the key players in the global InGaAs Camera market. The leading companies focus on the expansion and diversification of their market presence, and acquisition of new customer base, thereby tapping prevailing business opportunities.

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In 2021, The New Imaging Technologies (NIT) has designed a low price point SWIR camera WiDy SenS 320. The first redesign of InGaAs focal plane array and making it cost-optimized by leveraging NIT's innovative high yield hybridization technique and ready for volume production.

In 2021, Pembroke Instruments has launched a new Linescan SWIR Camera with 2048-pixel resolution, 7.5 um pixels, 60 kHz frame rate with Camera Link. The product enables high-performance machine vision imaging applications in the 900-1700 nm SWIR spectral region.

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