INGAAS CAMERA MARKET ANALYSIS

InGaAs Camera MarketSize and Trends

The InGaAs camera Market size is valued at US$ 141.7 Mn in 2024 and is expected to reach US$ 222.3 Mn by 2031, growing at a compound annual growth rate (CAGR) of 6.6% from 2024 to 2031.

InGaAs Camera Market Trends

• Miniaturization of SWIR cameras: The miniaturization of InGaAs-based SWIR cameras is an emerging trend as providers aim to enhance portability for expanded applications. Companies are manufacturing compact cameras weighing about 300 grams without compromising image quality. For instance, Raptor Photonics introduced Falcon SWIR camera weighing just 365 grams for easy portability. According to data provided by the International Organization of Motor Vehicle Manufacturers, the number of automotive prototypes and concept vehicles featuring miniature SWIR cameras grew by 25% from 2020 to 2022. The adoption of miniaturized InGaAs technology across diverse industries is fueling growth in the global camera market. The demand is expected to further accelerate as SWIR cameras get smaller without compromising on image quality and performance.
• Multispectral SWIR imaging: The incorporation of multispectral imaging capabilities in InGaAs cameras is rising, thus allowing detection across multiple SWIR bands. This provides detailed spectral information for advanced applications. In 2022, LISA introduced firefly camera featuring megapixel InGaAs sensor and multispectral bands at 0.9, 1.4 and 1.9 μm for remote sensing applications. For instance, The Cloud to Street initiative funded 17 research projects related to urban infrastructure inspection by using multimodal sensors including SWIR cameras in 2022, according to their annual report. InGaAs sensors are best suited for this technology, as their usage in cameras is growing rapidly. This is having a positive influence on the InGaAs camera market by creating new opportunities and attracting more entrants to this sector.