InGaAs Camera Market is expected to reach US$ 183.35 Million by 2028

Increasing Penetration of InGaAs Cameras in Military & Defense Sector to Provide Growth Opportunities for InGaAs Camera Market during 2021–2028

According to our latest market study on "InGaAs Camera Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Camera Cooling Technology, Scanning Type, and Application," 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.

The global InGaAs camera market is segmented into five major regions – North America, Europe, Asia Pacific, MEA, and SAM. North America held the largest market share in 2020, followed by APAC and Europe. APAC is anticipated to register the highest CAGR in the market during the forecast period. The increasing adoption by the military & defense industries and the rising penetration of machine vision systems fuel the InGaAs camera market growth. In addition, 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 of 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 expected to propel the market in North America during the forecast period.

An increasing partnership between government bodies of various regions and the tech giants is creating attractive opportunities for the InGaAs camera market. For example, the Sensors and Electron Devices Directorate (SEDD) and US Army research laboratory's Sensor have developed quantum well-infrared detector (QWID) technology. Sensors Unlimited is the leader of short-wave infrared InGaAs cameras, photodiodes, and arrays for night vision technology. It 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. Thus, the above factors are driving the regional and global InGaAs camera market growth.

The global 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. Based on scanning type, the InGaAs camera market is bifurcated into area scan camera and line scan camera. By application, the market is segmented into military & defense, industrial automation, and scientific research. In terms of geography, the InGaAs camera market is segmented into North America (the US, Canada, and Mexico), Europe (France, Germany, Italy, the UK, Russia, and the Rest of Europe), Asia Pacific (Australia, China, India, South Korea, Japan, and the Rest of APAC), Middle East and Africa (South Africa, Saudi Arabia, the UAE, and the Rest of MEA), and SAM (Brazil, Argentina, and the Rest of SAM).

Impact of COVID-19 Pandemic on InGaAs Camera Market

The COVID-19 outbreak has adversely impacted the economic condition due to various government measures, such as lockdown and border closures, leading to delays in procurement, manufacturing, and delivery. In Asia-pacific, China is the first country to start its economic activity and has seen a recovery trend in its economic progress. The COVID-19 crisis has negatively affected various industries worldwide, and the global economy faced a slump in 2020 and 2021. The effect of COVID-19 pandemic on various economies differs 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 component, equipment, controller, and raw material related to InGaAs cameras. The InGaAs camera market players experienced supply chain disruptions in 2020 due to various containment measures enforced by the governments. The crisis also hindered their production performances in that year. However, from mid-2021, the supply chains of InGaAs camera players stabilized, and the InGaAs camera market began experiencing growth from 2022.

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 major companies operating in the InGaAs camera market.

InGaAs Camera Market – by Geography, 2020 and 2028 (%)

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