InGaAs Image Sensor Market Expected to See Strong Growth Driven by Rapid Adoption of Monitoring, Nondestructive Inspection and Spectroscopy Systems, Says TMR

ALBANY, NY, October 4, 2021 /PRNewswire/

InGaAs Image Sensor Market: Growth Summary

The benefits associated with InGaAs image sensors such as security, remote monitoring and crime reduction will ensure an array of opportunities for the InGaAs Image Sensor Market during the forecast period 2021-2031. Also, the availability of InGaAs image sensors with high speed, good dynamic range and accelerated speed in end-use devices is driving the global market.

Transparency Market Research (TMR) has analyzed various aspects related to the growth of the InGaAs Image Sensor market. TMR analysts estimate that the global InGaAs image sensor market will grow at a CAGR of 5.2% during the forecast period. InGaAs Image Sensors Market Expected to Reach Value of US$172.79 million by 2031.

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The properties of InGaAs image sensors, such as larger zoom range, high resolution and clear images, will greatly benefit the market. Different countries around the world are increasing their security and surveillance measures in sensitive areas such as borders, military and defense establishments, airports, etc. These factors will prove to be significant growth drivers 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 by cryogenic cooling or thermoelectric cooling, depending on specific needs. Thus, these aspects are likely to drive the InGaAs image sensor market.

Main findings of the report

SWIR cameras will present considerable growth prospects in the InGaAs image sensor market

The use of short-wavelength infrared (SWIR) cameras has grown exponentially over the years. InGaAs image sensors are an essential component when manufacturing these cameras. Many companies are working on introducing new features in SWIR cameras. For example, Imec, a company based in Belgium recently demonstrated a prototype of a new SWIR sensor with the smallest pixel pitch. Such developments are helping to increase the popularity of SWIR cameras, thus fueling the growth of the InGaAs image sensor market.

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The surveillance and security segment will dominate the application category

Among all applications of InGaAs image sensors, the surveillance and security segment is expected to witness considerable growth over the forecast period. The security and surveillance segment is expected to grow at a CAGR of 5.3% from 2021 to 2031 due to its adoption and usage at airports, defense establishments and other points of entry.

Growing demand for industrial automation to enhance the growth trajectory of the InGaAs Image Sensor market

The demand for industrial automation has increased significantly over the years. Smart connected devices are making their mark in different procedures in industries involving automation. This aspect is estimated to provide growth opportunities for the InGaAs Image Sensor market players over the forecast period.

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Spectroscopy presents profitable growth paths

The spectroscopy sector is driving the growth of the InGaAs image sensor market to a large extent. Spectroscopy works in various applications such as determining velocity and speed of distant objects with many spectroscopes. InGaAs material featuring low dark current and high quantum efficiency is used 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 major 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

InGaAs Image Sensor Market, By Wavelength

  • Visible (VIS)
  • Near infrared (NIR)
  • Short Wave Infrared (SWIR)

InGaAs Image Sensor Market, By Application

  • Surveillance & Security
  • Spectroscopy & Spectrophotometry
  • Non-destructive inspection
  • Radiation Thermometry
  • Foreign body detection
  • Others (fiber optic communication, optical coherence tomography, laboratory measurements, etc.)

InGaAs Image Sensor Market, By End-Use Industry

  • Aerospace and Defense
  • Science and research
  • industrial automation
  • Health care
  • IT & Telecom
  • food and drinks
  • Others (Agriculture, etc.)

InGaAs Image Sensor Market, By Region

  • North America
  • Europe
  • Asia Pacific (APAC)
  • Middle East & Africa (SOUL)
  • South America

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Transparency Market Research is a global market intelligence company, providing global market intelligence reports and services. Our proprietary blend of quantitative forecasting and trend analysis delivers forward-looking insights to thousands of decision makers. Our experienced team of analysts, researchers and consultants use proprietary data sources and various tools and techniques to gather and analyze 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 broad research and analytical capability, Transparency Market Research uses rigorous primary and secondary research techniques to develop distinctive datasets and research material for trade reports.

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SOURCE Transparency Market Research

Michael C. Garrison