According to the latest research report titled 'InGaAs Camera Market Forecast to 2028 - COVID-19 Impact and Global Analysis,' the market is expected to grow from US$ 107.99 million in 2021 to US$ 183.35 million by 2028; it is estimated to grow at a CAGR of 7.9% from 2021 to 2028.
Rising Usage of Machine Vision Systems Drives Market Growth
Machine vision technology is used to provide imaging-based automatic inspection in various industries. This technology substitutes human visual sense and judgment capabilities with digital cameras and image processing to complement manual inspections and measurements. Different industries incorporate this technology to automate their production and improve product quality and speed. The rising demand for high-quality inspection and automation in various industries is driving the need for machine vision, eventually bolstering the InGaAs camera market.
Furthermore, the need for vision-guided robotic systems across the automotive, food & beverage, pharmaceutical & chemical, and packaging sectors is increasing the usage of machine vision systems globally and aiding the market. Industrial vision systems need more robustness, reliability, and stability than academic/educational vision system applications at a low cost.
Moreover, the demand for machine vision systems for 3D inspection and vision-guided robots is further driving the InGaAs camera market's growth. Increasing research and development and the launch of new products by InGaAs camera market players are also propelling the InGaAs camera market substantially. For example, Xenics NV offers a small, low-cost, uncooled InGaAs camera to increase the productivity of industrial machine vision systems. Thus, technological advancements in InGaAs cameras are driving the InGaAs camera market's growth.
The COVID-19 crisis has adversely affected various industries worldwide, and the global economy faced a slump in 2020 and 2021. The effects of COVID-19 pandemic on various economies differ based on the outbreak level in the specific countries. As a result, the prevalence of nation-wide lockdowns to minimize virus transmission has significantly disrupted the activities of supply chain and production of components, equipment, controller, and raw materials related to InGaAs cameras. The lockdown imposed restrictions on the industrial sector, which has reduced the production activities, declined the demand from end-user industries, and negatively affected the overall InGaAs camera market revenue between 2020 and 2021. The US has the highest military expenditure worldwide and is the major market for advance military technologies. In the post COVID-19 pandemic scenario, the military expenditure in US has witnessed a growth of nearly 4%. Moreover, the falling GDP is another factor negatively impacting the growth of the InGaAs camera market. The COVID-19 crisis has drastically impacted the operations across the value chain, from supplier networks to the customer delivery experience. In addition, the technology manufacturers observed a drop in deliveries for new technologies, cancelation or rescheduling of orders and delivery, labor shortage, and other factors that disrupted their businesses operations and increased the order backlogs, along with the disrupted supply chain, led to a decline in the growth of the InGaAs camera market. However, the pandemic has positively influenced the adoption of automation technology in various industries for contactless inspection of systems across the globe to comply with safety regulations and social distancing norms imposed by the respective governing body. However, from mid-2021, the supply chains of InGaAs camera players stabilized, and the InGaAs camera market began experiencing growth from 2022.
The growth of the InGaAs camera market is attributed to the rising military expenditure in economies such as the US, China, India, the UK, and Saudi Arabia; growing applications related to machine vision, industrial automation, and medical instruments; and high investments in scientific research for drug discovery. Additionally, owing to the border dispute between different economies and increasing tension in the South China Sea, governments in Asian countries allocate higher funds for their defense budget. Uncertainty concerning terrorist activities is a significant reason for the rising demand for integrated observation equipment, handheld thermal imagers, night vision equipment, and military laser systems. For instance, in 2019, Singapore spent almost US$ 10.66 billion on military expenditure, which increased to US$ 10.85 billion in 2020. The surge in terrorist attacks on many countries worldwide is one of the notable factors driving the demand for InGaAs cameras. All the factors mentioned above are fueling the growth of the InGaAs camera market.
The global InGaAs camera market is segmented into five major regions - North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and South and Central America (SAM). APAC holds a significant share in the global InGaAs camera market, owing to the higher awareness among the end users. The North American market is segmented into the US, Canada, and Mexico. With the increasing demand for high-quality and efficient electronic devices among Americans, OEMs are focusing aggressively on developing advanced technological devices. The North America InGaAs camera market is anticipated to grow in the coming years due to the presence of various prominent players in the military and defense, scientific research, and industrial automation sectors., such as Teledyne Technologies, FLIR Systems, and Sensors Unlimited. Sensors Unlimited is the leader of short-wave infrared InGaAs cameras, photodiodes, and arrays for night vision technology. The company works with the Department of Defense of the US on various projects through the Defense Advanced Research Projects Agency (DARPA) and the Night Vision Laboratory (NVL) of the US Army. Moreover, the rising demand for short-wave infrared (SWIR) cameras in machine vision applications and developing night vision technologies in various APAC countries, such as China and Japan, are also contributing to the InGaAs cameras market's growth. In addition, the presence of key InGaAs camera market players, such as Sensors Unlimited, Teledyne Technologies Incorporated, and Allied Vision Technologies GmbH, and continued product developments are projected to create lucrative opportunities for the InGaAs cameras market during the forecast period.
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Rising Usage of Machine Vision Systems Drives Market Growth
Machine vision technology is used to provide imaging-based automatic inspection in various industries. This technology substitutes human visual sense and judgment capabilities with digital cameras and image processing to complement manual inspections and measurements. Different industries incorporate this technology to automate their production and improve product quality and speed. The rising demand for high-quality inspection and automation in various industries is driving the need for machine vision, eventually bolstering the InGaAs camera market.
Furthermore, the need for vision-guided robotic systems across the automotive, food & beverage, pharmaceutical & chemical, and packaging sectors is increasing the usage of machine vision systems globally and aiding the market. Industrial vision systems need more robustness, reliability, and stability than academic/educational vision system applications at a low cost.
Moreover, the demand for machine vision systems for 3D inspection and vision-guided robots is further driving the InGaAs camera market's growth. Increasing research and development and the launch of new products by InGaAs camera market players are also propelling the InGaAs camera market substantially. For example, Xenics NV offers a small, low-cost, uncooled InGaAs camera to increase the productivity of industrial machine vision systems. Thus, technological advancements in InGaAs cameras are driving the InGaAs camera market's growth.
The COVID-19 crisis has adversely affected various industries worldwide, and the global economy faced a slump in 2020 and 2021. The effects of COVID-19 pandemic on various economies differ based on the outbreak level in the specific countries. As a result, the prevalence of nation-wide lockdowns to minimize virus transmission has significantly disrupted the activities of supply chain and production of components, equipment, controller, and raw materials related to InGaAs cameras. The lockdown imposed restrictions on the industrial sector, which has reduced the production activities, declined the demand from end-user industries, and negatively affected the overall InGaAs camera market revenue between 2020 and 2021. The US has the highest military expenditure worldwide and is the major market for advance military technologies. In the post COVID-19 pandemic scenario, the military expenditure in US has witnessed a growth of nearly 4%. Moreover, the falling GDP is another factor negatively impacting the growth of the InGaAs camera market. The COVID-19 crisis has drastically impacted the operations across the value chain, from supplier networks to the customer delivery experience. In addition, the technology manufacturers observed a drop in deliveries for new technologies, cancelation or rescheduling of orders and delivery, labor shortage, and other factors that disrupted their businesses operations and increased the order backlogs, along with the disrupted supply chain, led to a decline in the growth of the InGaAs camera market. However, the pandemic has positively influenced the adoption of automation technology in various industries for contactless inspection of systems across the globe to comply with safety regulations and social distancing norms imposed by the respective governing body. However, from mid-2021, the supply chains of InGaAs camera players stabilized, and the InGaAs camera market began experiencing growth from 2022.
The growth of the InGaAs camera market is attributed to the rising military expenditure in economies such as the US, China, India, the UK, and Saudi Arabia; growing applications related to machine vision, industrial automation, and medical instruments; and high investments in scientific research for drug discovery. Additionally, owing to the border dispute between different economies and increasing tension in the South China Sea, governments in Asian countries allocate higher funds for their defense budget. Uncertainty concerning terrorist activities is a significant reason for the rising demand for integrated observation equipment, handheld thermal imagers, night vision equipment, and military laser systems. For instance, in 2019, Singapore spent almost US$ 10.66 billion on military expenditure, which increased to US$ 10.85 billion in 2020. The surge in terrorist attacks on many countries worldwide is one of the notable factors driving the demand for InGaAs cameras. All the factors mentioned above are fueling the growth of the InGaAs camera market.
Key Findings of Study
The global InGaAs camera market is segmented into five major regions - North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and South and Central America (SAM). APAC holds a significant share in the global InGaAs camera market, owing to the higher awareness among the end users. The North American market is segmented into the US, Canada, and Mexico. With the increasing demand for high-quality and efficient electronic devices among Americans, OEMs are focusing aggressively on developing advanced technological devices. The North America InGaAs camera market is anticipated to grow in the coming years due to the presence of various prominent players in the military and defense, scientific research, and industrial automation sectors., such as Teledyne Technologies, FLIR Systems, and Sensors Unlimited. Sensors Unlimited is the leader of short-wave infrared InGaAs cameras, photodiodes, and arrays for night vision technology. The company works with the Department of Defense of the US on various projects through the Defense Advanced Research Projects Agency (DARPA) and the Night Vision Laboratory (NVL) of the US Army. Moreover, the rising demand for short-wave infrared (SWIR) cameras in machine vision applications and developing night vision technologies in various APAC countries, such as China and Japan, are also contributing to the InGaAs cameras market's growth. In addition, the presence of key InGaAs camera market players, such as Sensors Unlimited, Teledyne Technologies Incorporated, and Allied Vision Technologies GmbH, and continued product developments are projected to create lucrative opportunities for the InGaAs cameras market during the forecast period.
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- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the global InGaAs camera market
- Highlights key business priorities in order to assist companies to realign their business strategies
- The key findings and recommendations highlight crucial progressive industry trends in the global InGaAs camera market, thereby allowing players across the value chain to develop effective long-term strategies
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
- Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution
Table of Contents
1. Introduction
3. Research Methodology
4. InGaAs Camera Market Landscape
5. InGaAs Camera - Market Dynamics
6. InGaAs Camera Market - Global Analysis
7. InGaAs Camera Market Analysis - By Scanning Type
8. InGaAs Camera Market Analysis - By Camera Cooling Technology
9. InGaAs Camera Market Analysis - By Application
10. InGaAs Camera Market - Geographic Analysis
11. InGaAs Camera Market - COVID-19 Impact Analysis
12. Industry Landscape
13. Company Profiles
14. Appendix
List of Tables
List of Figures
Executive Summary
The InGaAs camera market was valued at US$ 107.99 million in 2021 and is expected to reach US$ 183.35 million by 2028; it is estimated to grow at a CAGR of 7.9% from 2021 to 2028.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 is 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 soon. 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 non-destructive 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.
Moreover, due to the advancements in technology, North America has been highly competitive, with the US being a developed country accepting modern technology electronic devices. The region has several technological giants that invest significant amounts in developing advanced technologies. With the increasing demand for high-quality and efficient electronic devices among Americans, OEMs focus on developing advanced technological devices. The North America InGaAs camera market is anticipated to grow in the coming years due to the presence of prominent players in military and defense, scientific research, and industrial automation, such as Teledyne Technologies, FLIR Systems, and Sensors Unlimited, Moreover, according to the World Bank collection of development indicators, the military expenditure in the US was around 3.74 % of its GDP in 2020, which is compiled from officially recognized sources. Therefore, the increasing spending on military and defense is further expected to propel the market in North America during the forecast period.
The COVID-19 pandemic had a significant impact on the electronics & semiconductors industry in 2020. France, Russia, and the UK have seen a comparatively modest decrease in their development activities across the security sector in 2020. With a negative economic growth rate in 2020, the European economy is projected to contract. The imbalance in the demand and supply side of security and surveillance solutions negatively impacted the InGaAs camera market in 2020 and 2021. However, the requirement of continuous surveillance for military operations has driven the market across European countries. Moreover, some countries across Europe are also 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, most of the Asia Pacific countries have lost a lot of revenues from their respective defense companies. For instance, Indian defense companies had already lost ~ US$ 3 billion in revenues between March and May in FY 2020, which has also affected 100 large defense firms and nearly 4,000 small and medium aerospace and defense businesses. Additionally, the labor shortage in these countries has hindered the manufacturing sector. However, increase in the advancement of military technology and high penetration of industrial automation post COVID-19 pandemic scenario would bolster the growth of the InGaAs camera market during the forecast period.
The InGaAs camera market is segmented on the basis of camera cooling technology, scanning type, and application. Based on camera cooling technology, the market is segmented into uncooled camera and cooled camera. In 2021, the uncooled camera segment led the market and accounted for a larger market share. Based on scanning type, the market is segmented into area scan camera and line scan camera. In 2021, the area scan camera segment led the market and accounted for a larger market share. Based on application, the InGaAs camera market is segmented into military & defense, industrial automation, and scientific research. In 2021, the industrial automation segment led the market and accounted for the largest market share. Geographically, the InGaAs camera market is broadly segmented into North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and South and Central America (SAM). In 2021, APAC accounted for a significant share in the global market.
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 operating in the global InGaAs camera market and profiled in the market study
The overall global InGaAs camera market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the InGaAs camera market. The process also serves the purpose of obtaining an overview and forecast for the InGaAs camera market with respect to all the segments. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data and gain more analytical insights into the topic. The participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the InGaAs camera market.
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- 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.
- Xenics Nv.
- Seiwa Optical America Inc.
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 151 |
| Published | March 2022 |
| Forecast Period | 2021 - 2028 |
| Estimated Market Value ( USD | $ 107.99 Million |
| Forecasted Market Value ( USD | $ 183.35 Million |
| Compound Annual Growth Rate | 7.9% |
| Regions Covered | Global |
