Market Research Future published a research report on “InGaAs Camera Market Research Report - Global Forecast till 2027” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2027.
The global InGaAs Camera market is projected to be valued at USD 167.4 million by the end of 2027, registering a CAGR of more than 8.26% during the forecast period.
InGaAs cameras are a bridge between NIR wavelengths in the 950–1700 nm range, where silicon detectors are no longer sensitive. InGaAs cameras are 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. It is primarily used by the military & defense industry for covert operations that use infrared (IR) technology to gain night vision or visibility through an atmospheric haze.
The major factors driving the growth of themarket include increasing 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.Industrial automation is expected to substantially impact the InGaAs Cameras Market growth. Over the past few years, some innovations have boosted industrial automation: The Programmable Logic Controller (PLC) was designed to substitute relay-logic and growth in the development of applications where custom logic took precedence over the existing technology. Moreover, the PLC was more dependable than relay contacts and more convenient for programming and re-programming. For example, rapid growth in automobile test installations and crash test sites had to be re-programmed for new car models.
In military and defense operations, cameras integrated with InGaAs sensors are used for imaging and video surveillance purposes. Short-wave IR cameras embedded with InGaAs sensors are widely used for these purposes due to their better snapshot dynamic range, enhanced processing, tone mapping, and fixed pattern noise correction for the uniformity of images under various lighting conditions. A combination of these factors is expected to drive the InGaAs Cameras market over the forecast period.
COVID-19 Impact Analysis
The pandemic has had a substantial impact on the global market, especially sectors thatare sensitive to economic cycles. However, the spending in military and defence sector holds key to fast recovery owing to its potential to create jobs; and in turn, recovery measures can support the sector’s transformation towards sustainability and digitalization. Many companies in the industrial automation sector are going through a financial recession, so companies are offloading their workforce. Overall, the technology industry has undergone a dipdue to factors including weak demand, supply disruptions, global financial shocks, factory shutdown, and reduced discretionary spending.
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Key players operating in the global InGaAs Camera market include Hamamatsu Photonics K.K., Sensors Unlimited, FLIR Systems, Xenics, New Imaging Technologies, Teledyne Technologies, Allied Vision Technologies, Photon Etc., Raptor Photonics Limited, Oxford Instruments, Kappa Optronics, and GuoHui OPTO-electronic (GHOPTO).
The global InGaAs Camera market has been segmented on the basis of scanning type, camera cooling technology, application, and region.
On the basis of scanning type, the global InGaAs Camera market has been segmented into area scan, and line scan. The area scan segment accounted for the larger market share in 2020; and is expected to register a CAGR of 7.45% during the forecast period. The line scan segment however; is projected to register the higher CAGR of 9.32% by 2027.
By camera cooling technology, the InGaAs Camera market has been categorized into cooled, and uncooled cameras. Cooled camera systems employ indium gallium arsenide (InGaAs) focal plane arrays (FPAs) amplify and broaden the utility of NIR/SWIR imaging and spectroscopy, and are expected to witness higher CAGR by 2027. However, uncooled cameras occupied the larger market share in 2020.
Based onapplication, the global market isbifurcated into military & defense, industrial automation, surveillance, safety, and security, scientific research, spectroscopy, and others. The military & defense segment accounted for the largest market share in 2020, with a CAGR of 6.73% during the forecast period. The industrial automation segment was the second-largest market in 2020, it is projected to exhibit a CAGR of 7.83%. However, the scientific research segment is expected to register the highest CAGR of 10.53%.
Key Findings of the Study:
The global InGaAs Camera market is projected to reach a value of USD 167.4million by 2027, with a CAGR of around 8.2%d uring the forecast period from 2021 to 2027.
North Americaa ccounted for the largest market share in 2020; this is due to the increased military and defence in the region on account of improving economic conditions and increasing population.
Asia Pacificis expected to be the second-fastest-growing regional market registering a CAGR of over 9%.
Focus on energy efficiency in construction activities is a key opportunity in this market.
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