According to the latest report by IMARC Group, titled "InGaAs Camera Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the global InGaAs camera market reached a value of US$ 107.9 Million in 2021. InGaAs camera is based on a cooling technology and is widely used in aerospace, military, telecommunications, industrial inspection, and spectroscopy. It includes infrared (IR) technology, which enables night vision or gains visibility through the atmospheric haze. These cameras find numerous applications in defense due to their outstanding performance features, such as small, uncooled, lightweight design, high-quality night vision, attached covert eye-safe lasers, target recognition, and sensitivity to nightglows. These cameras are widely utilized for IR applications, such as IR reflectography, a beam of light measurement, and PV analysis. These cameras are extensively utilized to automatize production and improve product quality and speed.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global InGaAs Camera Market Trends:
The global market is majorly driven by the increasing demand for smartphones with high-quality cameras. In line with this, the growing inclination for InGaAs over other compound semiconductors is positively influencing the market. Furthermore, the high penetration of InGaAs cameras within the military and defense sector and the rising demand for these cameras in firefighting, security, and police work are catalyzing the market. Apart from this, heavy investments in 5G infrastructure and strategic communication frameworks are creating a positive outlook for the market. Besides, continuous telecom industry advancements and the growing installation of optical fiber for numerous services are strengthening product demand. Additionally, the widespread adoption of the 5th generation network will introduce the concept of Multiple Input Multiple Output (MIMO), which requires connectivity through optical fiber media. This, in turn, is expected to provide a boost to the demand for InGaAs across the globe. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 162.6 million by 2027, exhibiting a CAGR of 7.2% during 2022-2027.
- On the basis of the scanning type, the market has been segmented into area and line scan cameras.
- Based on the cooling technology, the market has been categorized into uncooled and cooled cameras.
- On the basis of the application, the market has been classified into military and defense, industrial automation, surveillance, safety and security, scientific research, and others.
- On the basis of the region, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Latin America (Brazil, Mexico and others) and the Middle East and Africa.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market. Some of the key players include Albis Optoelectronics AG (Enablence Technologies Inc.), Allied Vision Technologies GmbH (TKH Group N.V.), First Sensor AG (TE Connectivity Ltd.), Hamamatsu Photonics K.K., Jenoptik AG, Laser Components, Lumentum Holdings Inc., Luna Innovations Incorporated, New Imaging Technologies (NIT), Raptor Photonics Limited, Sensors Unlimited (Raytheon Technologies Corporation), Teledyne Technologies Incorporated, Thorlabs Inc. and Xenics.
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