INGAAS CAMERA MARKET ANALYSIS

Market Challenges And Opportunities

• High costs compared to visible spectrum cameras
• Export regulations on infrared cameras
• Limited awareness in emerging economies

InGaAs Camera Market Drivers

• Increasing defense expenditure: Increasing expenditure by defense sector globally on advanced imaging systems and border surveillance technologies is driving the growth of InGaAs camera market. For instance, in 2021, the U.S. Department of Defense budget allocated over US$ 16 billion for research, development, test, and evaluation of new imaging technologies. For instance, the annual budget of the U.K. ministry of defense witnessed a 24% increase from 2020-2021 with a renewed push for advanced surveillance assets, according to government figures. If the global scenario persists, increased defense expenditures will keep propelling the demand and expansion of InGaAs camera market for the foreseeable future.
• Growing adoption in industrial automation: The rapidly growing use of InGaAs cameras in industrial automation for tasks such as monitoring, quality inspection and process control is contributing to the market growth. Industries such as automotive, semiconductor, pharmaceutical are increasingly using SWIR imaging for high-precision inspection. Advanced technologies like machine vision, artificial intelligence (AI) and internet of things (IoT) are being integrated widely to optimize production workflows and achieve predictive maintenance. InGaAs cameras play a crucial role in enabling technologies like predictive quality and enabling autonomous quality control. For instance, In 2021 their ability to function reliably even in dusty environments make them extremely useful for monitoring industrial processes like 3D printing in real-time.

InGaAs Camera Market Opportunities

• SWIR imaging for medical diagnosis: The SWIR spectroscopy technique is emerging as a promising tool for non-invasive medical diagnosis. The key near-infrared wavelengths absorbed by human tissue can help detect various diseases. This represents a significant opportunity for SWIR camera providers to expand into medical domain. Companies are undertaking research in this field. According to the World Health Organization statistics, in 2021, cancer was the cause of nearly 10 million deaths in 2020 worldwide. As populations age across countries and cancer incidence continues rising globally, innovative diagnostic techniques can help providers recognize malignancies earlier when treatment options are more effective. For instance, InGaAs camera manufacturers, greater utilization of SWIR imaging in healthcare thus presents many future business opportunities. With continued research validating more medical uses, this segment has strong potential for exponential growth in the near future, thus making it a crucial sector for the overall InGaAs camera market.
• Use in autonomous vehicles: Adoption of InGaAs cameras in driver assistance systems and autonomous vehicles holds an immense opportunity for market growth. SWIR imaging allows vehicles to navigate safely in foggy conditions, nighttime by detecting pedestrians, road markings, and others. Trieye is the pioneer of mass-market, CMOS-based Short-Wave Infrared (SWIR) sensing solutions. Demonstrated its Short-Wave Infrared imaging sensor for driver assistance and autonomous driving. Global automotive consulting firm Roland Berger is a global consultancy with offices in all major markets and industries. Estimates that autonomous vehicles could represent up to 15% of new passenger vehicle sales in Europe, 25% in the U.S. and 12% in China by 2030. As more automakers rise to meet these projections, their integration of InGaAs cameras as the preeminent computer vision sensor will drive immense expansion of the InGaAs camera market. Powered by the growing demand from autonomous vehicle manufacturers aiming to deploy only the best perception capabilities available, this sector is positioned for a period of unprecedented growth and revenue opportunity over the next decade.