InGaAs Image Sensor Market is Projected to Exceed a Value of US$ 172.79 Million by 2031 | TMR Report
Businesses within the InGaAs image sensor market are changing their demand and sales planning methods, taking into account shifting consumer trends
Wilmington, Delaware, United States, Sept. 12, 2023 (GLOBE NEWSWIRE) — In 2020, the InGaAs image sensor market was valued at approximately US$ 98.93 million. Forecasts indicate that it is expected to achieve a 5.2% CAGR from 2021 to 2031, reaching an estimated market value of US$ 172.79 million by the year 2031.
Increased global consumer use of smartphones with high-resolution cameras is one of the key reasons boosting the market for InGaAs image sensors. The development of better camera features into smartphones by manufacturers is driving increased demand for InGaAs image sensors.
Manufacturer demand for image sensors with CMOS technology is also rising as a result of a number of benefits, including the sensor’s affordability and availability in a small package. These reasons have led to a sharp rise in the demand for InGaAs image sensors in the automotive, consumer electronics, industrial automation, and healthcare sectors, which is anticipated to fuel market growth throughout the course of the projected period.
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|Market Revenue||USD 99.88 Mn|
|Estimated Value||USD 172.79 Mn|
|Growth Rate – CAGR||5.2%|
|No. of Pages||278 Pages|
|Market Segmentation||Type, Pixel Resolution, Wavelength, Application, End-use Industry|
|Regions Covered||North America, Europe, Asia Pacific, Middle East & Africa, South America|
|Companies Covered||Teledyne FLIR LLC,Ghopto,Hamamatsu Photonics Kk,Lynred,New Imaging Technologies,Sensors Unlimited Inc.,SORG SA,Sony Semiconductor Solutions Corporation,Synergy Optosystems Co. Ltd.,Xenics NV,Teledyne e2V|
Key Findings of the Market Report
- Security and surveillance workers may monitor the regions being watched over by using the high quality and crisp images that cameras with InGaAs image sensors provide.
- Applications for security and surveillance are driving up demand for InGaAs image sensors.
- Globally, nations are putting more of an emphasis on security at ports, airports, and military and defense facilities, which is promoting market expansion.
Market Trends for InGaAs Image Sensor
- The surveillance & security category of the InGaAs image sensor market is expected to grow at a CAGR of 5.3% from 2021 to 2031, owing to increased implementation in airports, defense institutions, and other points of entry.
- Industrial automation often makes use of InGaAs image sensors, and this market is anticipated to grow at a notable CAGR of 5.3% from 2021 to 2031. Due to the growing popularity of smart linked devices, in-plant automation is increasingly using in-gas image sensors.
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Global InGaAs Image Sensor Regional Market Outlook
Various reasons are propelling the growth of the InGaAs Image Sensor market in different countries. These are:
- North America is one of the lucrative regions for this market and the United States make up the majority of these shares. The bulk of the leading InGaAs image sensor suppliers are based in the United States. This is one of the key factors propelling the nation’s market for image sensors. For scientific research and experimentation, all of the top colleges and institutes are moving toward the use of InGaAs image sensor technology.
- There are more research projects underway and image processing technology is being adopted more widely throughout the nation. This may encourage the growth of the InGaAs image sensor industry in the United States.
- InGaAs Image Sensors products now have new growth opportunities due to the rising need for plastic reduction as well as processing capabilities in the United States using image sensor technology. The majority of American industrial manufacturers are leading the way in implementing InGaAs image sensor technology for hyperspectral imaging.
Global InGaAs Image Sensor Market: Key Players
These businesses are implementing a number of crucial techniques to grow their consumer base. To meet the growing demand for InGaAs image sensors from customers, they are also investing in product updates and new product innovations.
The following companies are well-known participants in the global InGaAs Image Sensor market:
- Teledyne FLIR LLC
- Hamamatsu Photonics Kk
- New Imaging Technologies
- Sensors Unlimited Inc.
- SORG SA
- Sony Semiconductor Solutions Corporation
- Synergy Optosystems Co. Ltd.
- Xenics NV
- Teledyne e2V
Key developments in the global InGaAs Image Sensor market are:
|Market Player||Year||Key Developments|
|Teledyne FLIR LLC||2021||
|Hamamatsu Photonics Kk||2019||
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Global InGaAs Image Sensor Market Segmentation
- Linear Image Sensor
- Area Image Sensor
- Pixel Resolution
- Visible (VIS)
- Near Infrared (NIR)
- Short Wavelength Infrared (SWIR)
- Surveillance & Security
- Sorting Inspection
- Optical Coherence Tomography
- Fiber Optic Communication
- “Others (Food Inspection, Laboratory
- Measurements, etc.)”
- End-use Industry
- Aerospace & Defense
- Science & Research
- Industrial Automation
- IT & Telecom
- Food & Beverages
- Others (Agriculture, Semiconductor Testing, Traffic Monitoring, Logistics & Transportation etc.)
- North America
- Asia Pacific
- Middle East & Africa
- South America
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