Indium Gallium Arsenide Market to Witness Remarkable Growth by 2029

Posted November 11, 2019 by preefacto

Indium Gallium Arsenide ( InGaAs) Market Forecast, Trend Analysis & Competition Tracking

Indium Gallium Arsenide (InGaAs) is a room temperature semiconductor made up of Gallium Arsenide and Indium Arsenide. The InGaAs semiconductor has wide applications in photonics and electronics. Some of the major advantages of InGaAs include high sensitivity, low noise, and sustainability over a wide range of temperatures and many more. InGaAs thus serves most of the major markets including consumer electronics, automotive, Aerospace & defense, communication systems and others. Furthermore, on the backdrop of increasing adoption of hyperspectral imaging solutions, advancements in tactical communication systems and investments in 5G infrastructure, the global InGaAs market is expected to foray ahead with an ~9.5% CAGR over the forecast period. Due to their excellent quantum efficiency, InGaAs photodiodes are continuously replacing silicon photodiodes in camera applications. Hyperspectral imaging solution expanded its reach to a large number of applications including precision agriculture, medical diagnostics, food sorting, machine vision, waste management etc. InGaAs photodiodes based camera systems are capable of sensing short wavelength infrared light along with faster sensor response. These properties in turn lay the foundation for InGaAs to be used in high end medical applications to surveillance and safety and in astronomy to art inspection through hyperspectral imaging technology. Furthermore, focus of governments towards precision farming, increasing healthcare expenditure across the globe coupled with initiatives towards waste management are some of the primary factors pushing the adoption of hyper spectral imaging systems. This in turn drives the global InGaAs market over the long term forecast.

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Advancements in Communication Devices: A Factor Influencing the Global InGaAs Market

Communication systems, be it consumer communication devices or tactical communication systems will find InGaAs being largely adopted in communication device manufacturing. Photo detectors used in broadband communication systems using InGaAs hold visible as well as infrared detection capability. Using single detector as the receiver in all of optical communication can enable device and system manufacturers to lower the cost of manufacturing and ensure effective inventory management. Smartphone manufacturers can explore the possibility of integrating InGaAs in upcoming variants to a large extent. Moreover, the concept of C4ISR (Command, Control, Communications, Computers, Intelligence, Surveillance and Reconnaissance) has strengthened the compound semiconductors demand. InGaAs based camera systems are used in applications such as military communications, surveillance etc. Thus, the focus of military organizations towards adopting C4ISR technology tends to create a wide adoption base for InGaAs, thereby driving the market growth over the long term forecast. Moreover, in accordance with advancements in communication technologies, manufacturing concentration of defense equipment also witnessed de cluttering (facilities in India, Turkey etc.), thus necessitating inventory of these components including InGaAs, and also the adoption of these components in con-conventional markets. For instance, usage of InGaAs in India is anticipated to double over the next half of the decade, subjected to its application in space research and exploration as well as indigenously developed defense systems.

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North America to Lead While Asia to Emerge as a Lucrative Market

According to the study done by Fact.MR, North America dominates the global InGaAs market owing to number of factors including escalating adoption of hyper spectral imaging, investments in 5G infrastructure, increasing smartphone penetration and many more. Furthermore, factors such as high adoption of compound semiconductors along with advancements in communication systems and presence of key players also provide traction to the North American InGaAs market. North America accounts for over one third of the global revenue in 2018 and is closely followed by East Asia. Furthermore, South Asia & Oceania are poised to be the regions growing with over double digit growth rate. Increasing smartphone penetration, demand of compound semiconductors along with rise in consumer electronics industry are some of the factors behind the progress of South Asia & Oceania InGaAs market. Moreover, Broadcom, Inc., First Sensor AG, Hamamatsu Photonics K.K., OSI Optoelectronics, HORIBA Scientific and others are some of the key players witnessed under global InGaAs market. Application specific product launch and acquisition are the primary strategies undertaken by these players to increase their footprint in the global InGaAs market.

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Categories Health , Medical , News
Tags indium gallium arsenide
Last Updated November 11, 2019