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.
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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.
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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).
The List of Companies - InGaAs Camera 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.
- Xenics nv.
- Seiwa Optical America Inc.
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