Market Analysis
The global InGaAs camera market is predicted to touch USD 146.4 million at a healthy 9.86%CAGR between 2018- 2024, states the recent Market Research Future (MRFR) analysis. InGaAs camera or indium gallium arsenide camera helps to broaden the utility of shortwave infrared or near infrared imaging and spectroscopy. InGaAs, simply put, is a ternary alloy of indium arsenide and gallium arsenide that has excellent photosensitivity. These cameras are used to offer imaging, which is shortwave or near infrared rage and easily visible to the eyes.
Various factors are propelling the global InGaAs camera industry share. According to the recent MRFR report, such factors include the growing adoption of such cameras for machine vision applications, rising penetration in military and defense, growing use in firefighting, surveillance, and security, and constant technological advancements, and the rising automation in industrial applications.
On the contrary, a slump in demand due to the on-going COVID-19 pandemic and strict export and import regulations on these cameras may limit the global InGaAs camera market growth over the forecast period.
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Market Segmentation
The MRFR report highlights an inclusive segmental analysis of the global InGaAs camera market based on scanning type, camera cooling technology, and application.
By scanning type, the global InGaAs camera market is segmented into an area scan camera and scan camera. Of these, the area scan camera will lead the market over the forecast period, and the line scan camera segment will grow at a high CAGR.
By camera cooling technology, the global InGaAs camera market is segmented into an uncooled camera and cooled camera. Of these, the uncooled camera will dominate the market over the forecast period, and the cooled camera segment will grow at a high CAGR over the forecast period.
By application, the global InGaAs camera market is segmented into spectroscopy, scientific research, safety and security, surveillance, industrial automation, military and defense, and others. Of these, the military and defense segment will have a major share in the market over the forecast period, and the industrial automation segment will grow at a high CAGR over the forecast period.
Key Players
Key contenders profiled in the global InGaAs camera market report include IRCameras (US), Episensors (US), QPHOTONICS (US), AC Photonics (US), New England Photoconductor (US), GPD Optoelectronics (US), Fermionics Opto-Technology (US), Photon (Canada), Princeton Instruments (US), Albis Optoelectronics (Switzerland), Raptor Photonics (UK), Luna (US), Thorlabs (US), Laser Components (Germany), Sofradir (France), Lumentum (US), Allied Vision Technologies (Germany), Teledyne Technologies (US), New Imaging Technologies (France), Xenics (Belgium), Jenoptik AG (Germany), First Sensor (Germany), FLIR Systems (US), Sensors Unlimited (US), and Hamamatsu Photonics K.K. (Japan).
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Regional Analysis
Based on the region, the global InGaAs camera market report covers the growth opportunities and recent trends across the Asia Pacific (APAC), North America, Europe, the Rest of the World (RoW). Of these, North America will lead the market over the forecast period. Recent developments in various scientific research, coupled with the presence of multiple military defense equipment manufacturers, are adding to the global InGaAs camera market growth in the region.
The global InGaAs camera market in the APAC region is predicted to have healthy growth over the forecast period. Increasing military and defense expenditure in India, China, and Japan, the growing surveillance and security sector, demand for industrial automation, and implementation of advanced technologies are adding to the global InGaAs camera market growth in the region. South Korea, Taiwan, Japan, and China have the maximum share in the market as they are shifting towards automation.
The global InGaAs camera market in Europe is predicted to have sound growth over the forecast period, and in the Rest of the World is predicted to have steady growth over the forecast period.
