The InGaAs Camera Market is expected to be valued at USD 132.6 Million by 2023 from USD 78.5 Million in 2017, at a CAGR of 9.1% between 2017 and 2023. The major factors driving the growth of the InGaAs camera market include high 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.
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Uncooled cameras expected to hold the largest market share by 2023
Uncooled cameras dominate the overall InGaAs camera market as they find major applications in the field of military, defense, and aerospace; industrial inspection; food inspection; telecommunications; and spectroscopy. Their low cost makes them a better choice for many applications. Non-destructive testing and adoption of automation in industries are expected to propel the growth of the market for uncooled cameras as they are widely used in the machine vision application. Cooled cameras are only used in applications where better accuracy is required.
Line scan cameras expected to grow at the highest rate between 2017 and 2023
The market for line scan cameras is expected to register a higher CAGR. This growth can be attributed to the use of line scan cameras in machine vision applications. Line scan cameras are primarily used in applications where there is a requirement for capturing the images of fast-moving objects. These cameras are beneficial for various applications in different verticals including semiconductor, food and beverages, and industrial. Some of the applications of line scan cameras are silicon wafer inspection, silicon luminescence detection, food inspection, and noncontact thermal imaging of hot objects.
North America expected to hold the largest share of the InGaAs camera market during the forecast period
North America is expected to hold the largest share of the InGaAs camera market during the forecast period. The presence of prominent players in the field of military and defense, scientific research, and industrial automation in North America is driving the growth of the InGaAs camera market in this region. High spending on military and defense is further expected to propel the InGaAs camera market in North America.
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The report also profiles the most promising players in the InGaAs camera market. The competitive landscape of the market presents an interesting picture of the strategies adopted by a large number of players. The key players in the InGaAs camera market are Hamamatsu (Japan), First Sensor (Germany), Jenoptik (Germany), Teledyne Technologies (US), Luna (US), Lumentum (US), Laser Components (Germany), Albis Optoelectronics (Switzerland), Thorlabs (US), Sensors Unlimited (US), FLIR Systems (US), Xenics (Belgium), New Imaging Technologies (France), Allied Vision Technologies (Germany), Raptor Photonics (UK), Sofradir (France), Princeton Instruments (US), Photon (Canada), Fermionics Opto-Technology (US), AC Photonics (US), GPD Optoelectronics (US), New England Photoconductor (US), QPHOTONICS (US), Episensors (US), and IRCameras (US).