GigE Camera Market to Garner $2.32 billion by 2030, Driven by Surge in Usage in Military & Defense Industry

The global GigE camera market size was valued at $0.87 billion in 2020, and is projected to reach $2.32 billion by 2030, growing at a CAGR of 11.0% from 2021 to 2030. Asia-Pacific is expected to be the leading contributor to the global market during the forecast period, followed by North America and Europe.

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GigE is a camera interface standard that has been developed using the Gigabit Ethernet communication protocol. This camera allows fast image transfer using low-cost standard cables over very long lengths. GigE cameras are designed to send RAW image data to a computer as quickly as possible. This data is uncompressed, and image-processing software is able to conduct very precise analysis. In addition, the Gigabit Ethernet cameras are used in factories for product quality inspections and automating processes. Moreover, GigE cameras are widely used in several industries including automotive, military & defense, food & packaging, industrial, medical, and others.

The military & defense is one of the vital application of the GigE camera system. The military & defense uses GigE cameras as virtual electronic eyes to keep a check on enemy lines without human supervision. The military vision of GigE cameras requires a sophisticated network of cameras, sensors, computers, and software. The expectancy from GigE cameras has increased rapidly. They are used for quick and accurate decision making without compromising on the sophistication of the analysis.

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Furthermore, GigE vision technology has become highly standardized under the supervision of the Automated Imaging Association (AIA) and has been able to leverage the continued evolution of Ethernet networking technology. The GigE vision standard unifies various protocols allowing better interconnectivity between hardware devices and software, resulting in high speed image transfer with the usage of low cost standard cables over very long distances. This has enabled it to grow into one of the most widely used interfaces in the machine vision industry.

The prominent factors that impact the GigE camera market growth are high usage of GigE camera in security & surveillance application, rise in demand for machine vision cameras, and surge in usage of GigE camera in military & defense industry. However, the excessive load on the CPU due to high speed and resolution capabilities restricts the market growth. On the contrary, increase in adoption of 3D vision technologies is expected to create lucrative opportunities for the market growth. Therefore, these factors are expected to definitely affect the global GigE camera industry during the forecast period.

The report segments the global GigE camera market on the basis of technology, type, application, spectrum, and region.

Based on technology, the complementary metal-oxide-semiconductor (CMOS) segment contributed to the highest market share in 2020, attributing to nearly two-thirds of the total market share, and is anticipated to dominate the market during the forecast period. The segment is expected to manifest the fastest CAGR of 12.3% from 2021-2030. The report also studies charge-coupled devices (CCD) segment.

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Based on type, the area scan cameras segment contributed to the highest market share in 2020, attributing to more than half of the total market share, and is anticipated to lead during the forecast period. On the other hand, the line scan cameras segment is expected to manifest the fastest CAGR of 12.3% from 2021-2030.

Region-wise, the GigE camera market trends are analyzed across North America (U.S., Canada, and Mexico), Europe (Germany, UK, France, Italy, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and Rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa). Asia-Pacific dominates the market and is estimated to grow rapidly during the forecast period, due to high infrastructural development and adoption of advanced technology. The overall GigE camera market analysis is determined to understand the profitable trends to gain a stronger foothold.

The key players profiled in the report include Allied Vision Technologies GmbH (Germany), Basler AG (Germany), Baumer Electric AG (Switzerland), IMPERX, Inc. (U.S.), Sony Corporation (Japan), Teledyne DALSA Inc. (Canada), Toshiba Corporation (Japan), Qualitas Technologies (India), Matrox imaging (Canada) and Omron Corporation (Japan). These players have adopted various strategies, such as partnership, agreement, expansion, and product launch, to expand their foothold in GigE camera industry.

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Key Findings Of The Study
• In 2020, the complementary metal oxide semiconductor (CMOS) segment accounted for the maximum revenue and is projected to grow at a notable CAGR of 12.30% during the forecast period.
• The monochrome camera segment accounted for more than 50% of the global GigE camera market share in 2020.
• The security and surveillance segment witnessed highest growth rate during the forecast period.
• UK was the major shareholder in the Europe GigE camera market revenue, accounting for approximately 26% share in 2020.

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