InGaAs Image Sensor Market to Witness Extensive Growth Due to Rapid Adoption of Surveillance, Non-Destructive Inspection, and Spectroscopy Systems, Says TMR
Friday, October 8, 2021
Rising use of InGaAs image sensors in the spectrometry sector to drive the global market
ALBANY, N.Y., Oct. 4, 2021 /PRNewswire/ --
InGaAs Image Sensor Market: Growth Summary
The advantages associated with InGaAs image sensors such as safety, remote monitoring, and crime reduction will assure an array of opportunities for the InGaAs image sensor market during the forecast period of 2021-2031. Furthermore, the availability of InGaAs image sensors providing high speed, good dynamic range, and accelerated speed in end-use devices is driving the global market.
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Transparency Market Research (TMR) has analyzed various aspects related to the growth of the InGaAs image sensor market. The analysts at TMR estimate the global market for InGaAs image sensor to expand at a CAGR of 5.2% during the forecast period. The InGaAs image sensor market is expected to reach a value of US$ 172.79 Mn by 2031.
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The properties of InGaAs image sensors such as greater zoom range, high resolution, and clear imageswill benefit the market to a great extent. Various countries around the world are boosting their security and surveillance measures at sensitive areas such as borders, military and defense establishments, airports, etc. These factors will prove to be significant growth generators for the InGaAs image sensor market. However, manufacturers in the InGaAs image sensor market are focusing on reducing the noise level in InGaAs image sensors. Manufacturers are trying to improve this aspect through cryogenic cooling or thermoelectric cooling, depending on specific requirements. Thus, these aspects are likely to drive the InGaAs image sensor market.
Key Findings of Report
SWIR Cameras to Present Considerable Growth Prospects to InGaAs Image Sensor Market
The use of short wavelength infrared (SWIR) cameras has increased exponentially over the years. InGaAs image sensors are a vital component while manufacturing these cameras. Many companies are working on introducing novel features in the SWIR cameras. For instance, Imec, a company based in Belgium recently introduced a prototype of a new SWIR sensor offering the smallest pixel pitch. Such developments help increase the popularity of SWIR cameras, thus fueling the growth of the InGaAs image sensor market.
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Surveillance and Security Segment to Dominate Application Category
Among all applications of InGaAs image sensors, the surveillance and security segment is expected to garner considerable growth during the forecast period. The security and surveillance segment is expected to expand at a CAGR of 5.3% from 2021 to 2031 due to their adoption and use at airports, in defense establishments, and other entry points.
Growing Demand for Industrial Automation to Improve InGaAs Image Sensor Market Growth Trajectory
The demand for industrial automation has increased considerably over the years. Smart connected devices are making a mark across different procedures in industries involving automation. This aspect is estimated to offer growth opportunities to the InGaAs image sensor market players during the forecast period.
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Spectroscopy Presents Profitable Growth Avenues
The spectroscopy sector is fueling the growth of the InGaAs image sensor market to a substantial extent. Spectroscopy performs in various applications such as determining the speed and velocity of distant objects with numerous spectroscopers. InGaAs material comprising low dark current and high quantum efficiency is utilized for linear photodiode arrays and IR spectroscopy camera systems. Thus, the growing demand for spectroscopy is directly proportional to the growth of the InGaAs image sensor market.
Some of the key players in the InGaAs image sensor market are Sony Semiconductor Solutions Corporation, Teledyne e2V, New Imaging Technologies, Synergy Optosystems Co. Ltd., ISORG SA, Hamamatsu Photonics Kk, Xenics NV, and Lynred.
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Global InGaAs Image Sensor Market: Segmentation
InGaAs Image Sensor Market, by Type
-- Linear Image Sensor
-- Area Image Sensor
InGaAs Image Sensor Market, by Pixel Resolution
-- 320x256
-- 640x512
-- Others
InGaAs Image Sensor Market, by Wavelength
-- Visible (VIS)
-- Near Infrared (NIR)
-- Short Wavelength Infrared (SWIR)
InGaAs Image Sensor Market, by Application
-- Surveillance & Security
-- Spectroscopy & Spectrophotometry
-- Non-Destructive Inspection
-- Radiation Thermometry
-- Foreign Object Detection
-- Others (Fiber Optic Communication, Optical Coherence Tomography,
Laboratory Measurements, etc.)
InGaAs Image Sensor Market, by End-use Industry
-- Aerospace & Defense
-- Science & Research
-- Industrial Automation
-- Healthcare
-- IT & Telecom
-- Food & Beverage
-- Others (Agriculture, etc.)
InGaAs Image Sensor Market, by Region
-- North America
-- Europe
-- Asia Pacific (APAC)
-- Middle East & Africa (MEA)
-- South America
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About Transparency Market Research
Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. Our experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyse information.
Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.
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