Extended Reality (Xr) Is Fastest Growing Segment Fueling The Growth Of Ingaas Camera Market
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| Ingaas Camera Market |
Market Overview:
InGaAs cameras are optoelectronic sensors which convert infrared radiation to
electric signals. It utilizes InGaAs as detector material which has higher
spectral response in near-infrared region of 900–1700 nm making them suitable
for various applications ranging from industrial inspection to military and
defense.
Market key trends:
One of the key trends driving the growth of InGaAs camera market is its
increasing adoption in Extended Reality (XR) applications. XR is an emerging
platform that combines augmented reality(AR), virtual reality (VR) and mixed
reality (MR) experiences. InGaAs cameras are gaining traction for see-through
AR applications due to their capability to detect near infrared light which
helps overlaying digital content onto real world environment. The increasing
focus of tech giants as well as growing investments towards development of XR
hardware and content is expected to drive the demand of InGaAs cameras during
the forecast period.
The global InGaAs
Camera Market Share is estimated to be valued at US$ 229.1 Mn in 2023 and is expected to exhibit a CAGR of 22. % over the forecast period
2023 to 2030, as highlighted in a new report published by Coherent Market
Insights.
Segment Analysis
The InGaAs camera market is segmented by type, application, end-use industry,
and geography. By type, the market is divided into area scan cameras and line
scan cameras. The line scan cameras segment dominates the market and is
expected to continue its dominance over the forecast period. Line scan cameras
capture images faster than area scan cameras as they capture the whole line of
pixels simultaneously. This makes them suitable for high-speed imaging
applications.
Key Takeaways
The global InGaAs camera market is expected to witness high growth, exhibiting
a CAGR of 22% over the forecast period, due to increasing demand for high-performance
imaging solutions across various industry verticals.
North America dominates the global InGaAs camera market, accounting for over
35% of the total share. This is attributed to heavy investments in R&D of
advanced imaging technologies by government and private organizations in the
region. Asia Pacific is expected to witness the fastest growth over the
forecast period owing to the expansion of manufacturing industries and growth
of automation in various sectors in countries such as China and India.
Key players operating in the InGaAs camera market are Hamamatsu Photonics,
First Sensor, Jenoptik, Teledyne Technologies, Xenics, Lumenera, Laser
Components, Albis Optoelectronics, Thorlabs, Raptor Photonics, and FLIR
Systems. Hamamatsu Photonics holds the highest market share currently due to
its wide product portfolio and long-standing expertise in developing novel
infrared detectors and imaging cameras. The other players are focusing on new
product launches to strengthen their position in the market.
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