(EMAILWIRE.COM, August 30, 2018 ) According to the new market research report on the “InGaAs Camera Market by Camera Cooling technology (Cooled camera, Uncooled Camera), Scanning Type (Area Scan Camera, Line Scan Camera), Application (Military & Defense, Industrial Automation, Scientific Research), and Geography - Global Forecast to 2023”, this 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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Area scan cameras held a larger share of the InGaAs camera market in 2016. The area scan cameras have a matrix of pixels, which allow it to capture the image of a defined area. Compared with line scan cameras, area scan cameras are general-purpose cameras used in various applications such as industrial processing monitoring, industrial furnace monitoring, solar cell inspection, inspection sorting, driver vision enhancement, atmospheric obscurants imaging, and security and surveillance.

In 2016, the uncooled cameras held a larger share of the overall InGaAs camera market. This growth can be attributed to their 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.

Military and defense held the largest share of the InGaAs camera market based on application. Military and defense is one of the major applications where InGaAs cameras are widely used for surveillance purposes. These cameras are used in the field of military and defense because of their ability to produce clear images even in low light conditions. The typical applications of InGaAs cameras in military and defense are thermal weapon sights, soldier portable vision, and vehicle vision.

North America accounted for the largest share of the overall InGaAs camera market in 2016, with the US being one of the major contributors in terms of market size. One of the major reasons for the leading position of North America is the presence of several military and defense equipment manufacturers, and developments in the field of scientific research and medical technology in this region. Asia Pacific (APAC) is expected to register the highest CAGR between 2017 and 2023. This growth can be attributed to the increased spending on the military and defense; and surveillance, safety, and security applications in emerging Asian countries such as China, Japan, Taiwan, and India.

On the other hand, stringent import and export regulations are restraining the growth of the InGaAs camera market. The International Traffic in Arms Regulations (ITAR) implemented by the US Department of State requires commodity jurisdiction approval for the sale of InGaAs cameras in the US. This regulation is restraining the InGaAs camera manufacturers based in the US in expanding their reach outside the US, as well as restricting the manufacturers based outside the US in expanding their reach in this country, thereby affecting their global reach.

Some of the major players in this 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).

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