Global InGaAs Camera Market Overview
The global InGaAs camera market, which was valued at USD 85.3 million in 2018, reached a revenue valuation of USD 146.4 million by 2024. As per the latest MRFR analysis, the InGaAs camera market is expected to expand at 9.86% CAGR by 2024.
An InGaAs camera has a vast array of applications and is primarily used for military and defense purposes. Military covert operations take advantage of infrared (IR) technology to enable night vision or gain visibility through atmospheric haze. IR technology is further divided into shortwave (SWIR), longwave (LWIR), near (NIR), and mid-wave (MWIR). SWIR technology has primary applications for security and surveillance, combined with InGaAs cameras. An InGaAs SWIR camera vendor make its cameras based on focal plane array. Lightweight InGaAs cameras are utilized on airplanes and unmanned aerial vehicles such as drones for surveillance purposes. Hence, ascension noted in the demand for unmanned aerial vehicles and rising adoption of the same in militaries and defense sectors all over the globe is supplementing the demand for InGaAs cameras, leading to market growth.
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SWIR InGaAs cameras are also used to conduct automated inspections in pharmaceutical, semiconductor, and other industries. Upscaling industrial automation has pushed the demand for robotics and automated systems among which condition monitoring is one of the most vital applications. Condition monitoring is a significant part of predictive maintenance under which industrial installations are continuously inspected. Such inspection aids in avoiding any unplanned production stops and enables better maintenance activities.
Some of the notable players in the global InGaAs market include Hamamatsu Photonics K.K. (Japan), Sensors Unlimited (US), FLIR Systems (US), First Sensor (Germany), Jenoptik AG (Germany), Xenics (Belgium), New Imaging Technologies (France), Teledyne Technologies (US), Allied Vision Technologies (Germany) and Lumentum (US).
The global InGaAs camera market is studied for several segments to arrive at a detailed and accurate analysis. The global InGaAs camera market is segmented and studied on the basis of scanning type, camera cooling technology, application, and region. Based on scanning type, the global InGaAs camera market is segmented into line scan camera and area scan camera. Among these segments, the area scan camera segment is anticipated to hold a prominent share in the global InGaAs camera market. The line scan camera segment is assessed to grow at a high rate. Area scan cameras are general-purpose cameras that comprise a large matrix of pixels in order to capture a 2D image of any area in a single cycle exposure. Area scan cameras are suitable for other applications where objects are in motion like on a machine belt-like line inspection.
By camera cooling technology, the InGaAs camera market is segmented into cooled camera and uncooled camera. The uncooled camera segment is expected to hold the largest share of the global InGaAs camera market through the review period. On the other hand, the cooled camera segment is expected to ascend at the highest CAGR through the forecast period.
Based on application, the global InGaAs camera market has been segmented into industrial automation, military and defense, safety and security, surveillance, spectroscopy, and scientific research. The military and defense segment is estimated to dominate the market whereas; industrial automation segment is expected to ascend at a significant CAGR through the review period.
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Detailed Regional Analysis
The global InGaAs camera market is segmented into the regions of North America, Europe, Asia-Pacific, and the rest of the world. North America is estimated to dictate the global InGaAs camera market through the forecast period. Europe is anticipated to hold the second-largest share of the market. This can be attributed to the several military and defense equipment manufacturers present in North America.
Asia Pacific is expected to witness the highest CAGR over the forecast period owing to the increasing military and defense expenditure in countries such as India, China, and Japan. Further, growth in the security and surveillance sector is also pushing the regional market.
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