New York, March 28, 2022 (GLOBE NEWSWIRE) -- The Insight Partners published latest research study on “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 global InGaAs camera market growth is driven by the rising usage of machine vision systems, increasing penetration of InGaAs cameras in military & defense sector.
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| Report Coverage | Details |
| Market Size Value in | US$ 107.99 Million in 2021 |
| Market Size Value by | US$ 183.35 Million by 2028 |
| Growth rate | CAGR of 7.9% from 2021 to 2028 |
| Forecast Period | 2021-2028 |
| Base Year | 2021 |
| No. of Pages | 151 |
| No. Tables | 83 |
| No. of Charts & Figures | 79 |
| Historical data available | Yes |
| Segments covered | Camera Cooling Technology, Scanning Type, and Application |
| Regional scope | North America; Europe; Asia Pacific; Latin America; MEA |
| Country scope | US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
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 that are profiled during the InGaAs camera market study. In addition, several other essential market players were studied and analyzed to get a holistic view of the global InGaAs camera market and its ecosystem.
In 2021, Raptor Photonics has launched a new product called Ninox 640 SU a vacuum-cooled InGaAs-based camera with a 640×512 sensor with a 15µm x 15µm pixel pitch for the highest spatial resolution. The Ninox 640SU is vacuum cooled to -80°C for ultra-long exposures of up to 5 minutes.
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In 2021, New Imaging Technologies (NIT) announced the release of several new SWIR sensors produced with NIT in-house designed stacking technology, internally named NH.
With automation, human intervention is reduced in several processes. The penetration of Industry 4.0 has increased automation in various verticals that allow companies to capture the long-term value from their operations, reduce human involvement and waste, increase flexibility, and optimize the decision-making process. In addition, the emergence of connected enterprises, government initiatives to support industrial automation, and the uptake of emerging technologies, such as IoT and AI, in industrial environments are expected to propel automated industries during the forecast period. Thus, the rising uptake of industrial automation is likely to increase the demand for InGaAs cameras for machine vision and create an opportunity for the InGaAs camera market in the years to come.
Moreover, these InGaAs cameras help improve the accuracy of manufacturing operations, thereby reducing the cost and increasing the productivity and quality of the production process. The increasing emphasis on industrial automation is expected to boost the InGaAs camera market in the coming years. InGaAs cameras used in the industrial automation system can image objects in the short-wave infrared (SWIR) range and attract interest in the food & beverages, pharmaceuticals, and other industries. The SWIR imaging with InGaAs-based cameras is well suited to nondestructive identification of materials, their composition, coatings, and other characteristics. Thus, the rising uptake of InGaAs cameras in the industrial sector is projected to contribute significantly to the InGaAs camera market's growth over the next few years.
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The rising demand for machine vision systems for 3D inspection and vision-guided robots is driving the InGaAs camera market growth. Increasing research and development and the launch of new products by InGaAs camera market players are also propelling the market growth substantially. For example, Xenics NV offers a small and low-cost uncooled InGaAs camera to increase the productivity of industrial machine vision systems. Thus, technological advancements in InGaAs cameras are driving the growth of the InGaAs camera market.
The COVID-19 outbreak amongst armed forces across the globe has substantially impacted military capabilities especially in Europe. France, Russia, and the UK have seen a comparatively modest decrease in their development activities across the security sector. Moreover, the imbalance in the demand and supply side of security and surveillance solutions restrained the InGaAs camera market in 2020 and 2021. However, the requirement of continuous surveillance for military operations has driven InGaAs camera market across the world. Moreover, some countries across North America, APAC, and Europe are disclosing their plans for the acquisition and investments in defense technologies across their respective armed forces, which is also expected to aid in the InGaAs camera market growth during the forecast period. Moreover, from mid-2021, the supply chains of InGaAs camera players stabilized, and the InGaAs camera market began experiencing growth from 2022.
Rising Area Scan Camera Sector to Propel Market Growth during Forecast Period:
Area scan cameras contain a matrix of pixels that capture an image of a given scene. They are more general-purpose than line scan cameras and offer a straightforward setup and alignment. Area scan cameras are best suited for applications where the object is stationary, even if only momentarily. Machine vision applications majorly drive the demand for area scan cameras. Major market players offering the InGaAs based area scan cameras, such as Teledyne and Sensor Unlimited, are also driving the InGaAs camera market growth.
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The increasing penetration of InGaAs cameras in the military & defense sector to see through harsh environments, such as fog, smoke, haze, and water vapor, has resulted in the increased usage in several applications of the military and defense sector, such as marine intelligence, surveillance, and vision enhancement. Moreover, the rise in military expenditure in various regions, such as North America, Asia Pacific (APAC), Europe, the Middle East and Africa (MEA), and South and Central America (SAM), is aiding the InGaAs camera market substantially. For example, the military expenditure of the US in 2019 was US$ 734.34 billion, which grew to US$ 778.23 billion in 2020. A rise of 5.63% in military spending is predicted to create massive scope for InGaAs cameras. According to the World Bank collection of development indicators, Canada's military expenditure was 1.41% of its GDP in 2020. In 2019, the country's military expenses reached US$ 22.20 billion, which increased to US$ 22.75 billion in 2020.
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