“The global InGaAs camera market is expected to register a CAGR of 9.1% between 2017 and 2023”
The InGaAs camera market is expected to be valued at USD 132.6 million by 2023 from USD 78.5 million in 2017, at a CAGR of 9.1% between 2017 and 2023. The major factors driving the growth of the InGaAs camera market include high demand for line scan InGaAs cameras for machine vision applications, high penetration of InGaAs cameras in military and defense, and increasing demand for InGaAs cameras in security, surveillance, and firefighting. The major factor restraining the growth of InGaAs camera market is the stringent import and export regulations on these cameras.
“Area scan cameras held a larger share of the InGaAs camera market in 2016”
In 2016, the area scan cameras held the largest share of the overall InGaAs camera market. The area scan camera has a matrix of pixels, which allows it to capture the image of a defined area. Compared with line scan cameras, area scan cameras are general-purpose cameras used in various applications such as industrial processing monitoring, industrial furnace monitoring, solar cell inspection, inspection sorting, driver vision enhancement, atmospheric obscurants imaging, and security and surveillance.
“The market for the industrial automation application is expected to register the highest CAGR between 2017 and 2023.”
InGaAs cameras are extensively used in the industrial automation application. These cameras are used in machine vision applications in the fields of robotics and gripping technology; guidance/orientation assistance; object and pattern recognition; object type, position, and direction recognition; label, OCR, and barcode recognition; color and completeness checks; packaging and printing industry for completeness checks, endless web inspection systems, and logistics; and fast moving object analysis. These cameras help in improving the accuracy of manufacturing operations, thereby reducing the cost and increasing the productivity and quality of the manufacturing process. With increasing emphasis on industrial automation, the market for this application is expected to grow in the future.
“APAC is expected to register the highest CAGR during the forecast period”
Asia Pacific (APAC) accounted for the highest CAGR in the overall InGaAs camera market during the forecast period. This growth is attributed to the high economic growth witnessed by major developing economies in this region. China accounted for the largest share of InGaAs camera market in 2016 because of the huge demand for InGaAs cameras from the country’s industrial manufacturing, and military and defense applications. Uncooled cameras are expected to dominate the InGaAs camera market in APAC. Moreover, higher industrial growth in developing economies is expected to drive the growth of the InGaAs camera market in APAC.
Break-up of the profiles of primary participants:
- By Company Type: Tier 1 – 52%, Tier 2 – 21%, and Tier 3 – 27%
- By Designation: C-Level Executives – 67% and Managers – 33%,
- By Region: North America – 40%, Europe – 18%, Asia Pacific – 27%, and Rest of the World – 15%
The report includes the competitive landscape of the market for prominent players such as Hamamatsu (Japan), First Sensor (Germany), Jenoptik (Germany), Teledyne Technologies (US), LUNA (US), LUMENTUM (US), Laser Components (Germany), Albis Optoelectronics (Switzerland), Thorlabs (US), Sensors Unlimited (US), FLIR Systems (US), Xenics (Belgium), New Imaging Technologies (France), Allied Vision Technologies (Germany), Raptor Photonics (UK), Sofradir (France), Princeton Instruments (US), Photon (Canada), Fermionics Opto-Technology (US), AC Photonics (US), GPD Optoelectronics (US), New England Photoconductor (US), QPHOTONICS (US), Episensors (US), and IRCameras (US).
This research report categorizes the global InGaAs camera market on the basis of camera cooling technology, scanning type, application, and geography. The report discusses the major drivers, restraints, challenges, and opportunities pertaining to the market along with the value chain analysis.
Reasons To Buy the Report
The report would help leaders/new entrants in this market in the following ways:
- This report segments the InGaAs camera market comprehensively and provides the closest market size estimation for subsegments across different regions.
- The report would help stakeholders understand the pulse of the market and provide them the information on key drivers, restraints, challenges, and opportunities pertaining to this market.
- This report would help stakeholders understand their competitors better and gain insights to improve their position in this market. Moreover, this report provides the competitive landscape section, which includes the competitor ecosystem, product launches, acquisitions, partnerships, expansions, agreements, contracts, alliances, and collaborations.