InGaAs Image Sensors Market: Global Industry Analysis and Forecast (2023-2029)

InGaAs Image Sensors Market was valued at US$ 20.71 Bn. in 2022 and expected to grow at a CAGR of 9.71% during the forecast period (2023-2029). Thanks to the growing trend of imaging segment use have boosted demand for the Global InGaAs Image Sensors Market.
InGaAs Image Sensors Market Overview:
InGaAs Image Sensors are room-temperature semiconductor that detects light and converts the photons into electron-hole pair. These are extensively used in the detection of near-infrared light detection. Because of their high sensitivity, more than 1000 -1700 nm wavelength range is highly used in physical and life science applications. InGaAs Image Sensors are highly sensitive, provide low noise and spectral responses ranging from 0.6 to 2.4 micrometer. Because of this feature, InGaAs Image Sensors are widely used in health, manufacturing, food safety and quality, and security and surveillance. As a result, the global InGaAs Image Sensors market is expected to touch a US$ 32.92 Bn during the forecast period.To know about the Research Methodology:- Request Free Sample Report
InGaAs Image Sensors Market Dynamics
Growing demand for the smartphones and development of high-resolution cameras are increasing the demand for InGaAs Image Sensors. Increasing innovations in shortwave infrared (SWIR) wavelength and CMOS image sensor technology in consumer devices are adding an advantage to the market growth. In 2019, SONY made an innovation that uses Cu-Cu bonding of an InGaAs detector chip by lowering the pixel pitch to 5 micrometers. In 2022, TTI Inc. based in the United States is the largest supplier of image sensors globally.

Increasing use of InGaAs Image Sensors in the medical and manufacturing sector for imaging and inspections is expected to boost the market. These sensors are used to get high-quality images by using low power, low voltage, flexibility, and low cost in artificial replacement of human vision system, wireless capsule endoscopy, and gastrointestinal tract diagnostics. Recent government initiatives like “production linked incentives” (PLI) in medical devices and the establishment of “MEDICAL PARKS” are adding advantages to the market. The bilateral trade agreement between INDIA and RUSSIA set at US$ 30 by 2025 and is expected to increase an additional US$ 5 Bn per annum which is expected to create opportunities for pharmaceutical and medical devices.

The increasing need for safety and security due to rising thefts and criminal activities in under developing countries can create a large market for the image sensors in security cameras. Growing demand for the wide dynamic range imaging in military and naval surveillance is boosting the market growth. In November 2021, “Navitar” launched an optimized glass lens for the HWK1411 camera module based on the BAE Systems Core CMOS sensor. This development is well suitable for military operations like improving situational awareness, threat detection, drone air surveillance, and missile tracking systems.
Market Restraints
The factors slowing the growth of InGaAs image sensor market growth are its high cost limiting the adoption in large applications, growing difficulty in manufacturing of process and presence of higher-level noise. Increasing damage to the sensors by electrostatic discharge at the time of ribbon cable disconnection, a manufacturing defect in sensors, and the presence of physical phenomena like heat, humidity, and sunlight are becoming a roadblock to the market growth.
InGaAs Image Sensors Market Segmentation
Based on Type, The InGaAs Image Sensors market is sub-segmented into Linear Image sensors and Area Image sensors. The Linear Image Sensor segment dominates the global market and it held a share of 55.62% in 2022. The linear image sensor was developed by using a CMOS charge amplifier and CDS circuits. Due to its high density and stable operation in the near-infrared range, these sensors are used in optical communication and foreign object inspection types of equipment. Expansion in agro-industries, grocery stores, and banking sectors is expected to drive the global market.

Areas image sensors took second place in the global market because they are high power-consuming devices due to the presence of cooling CCD and provide low performance. These are widely used in medical and security applications.

Based on the Application, the InGaAs Image Sensors market is sub-segmented into Industrial Measurement, Surveillance & Security, Optical Coherence Tomography, and Laboratory Measurements. The Surveillance & Security segment dominates the global market and was valued at US$ 4.5 Bn in 2022. Increasing the chances of terror attacks on the borderline and airlines, raising robbery rates, and criminal activities across the regions are attracting market growth. According to the DEPARTMENT of HOMELAND SECURITY, the United States is spending around US$ 197.9 Bn on security and surveillance for safeguarding the country from external attacks. This can become a fruitful opportunity for InGaAs Image Sensors in this region.

Based on the Vertical, The InGaAs Image Sensors market is sub-segmented into Industrial Automation, Military & Defense, Food & Beverages, Transportation, and Healthcare & Life Sciences. The Food & Beverages segment dominates the market and it held a share of 47% in 2022. Growing demand for packed foods across the countries due to increasing working hours of the peoples and rising disposal income is attracting the image sensor in the food and beverage industry. InGaAs image sensor-enabled cameras are widely used for the detection of contamination and foreign items in the food sector. These sensors are helping the industries in reducing the extra cost for inspection and maximizing productivity and also profit.
Market Regional Insights:
Asia-Pacific is the dominating region in the global InGaAs Image Sensors market. The region’s InGaAs image sensor market share is being driven by factors such as increasing adoption in automobiles and consumer electronics such as cameras and mobile phones. Furthermore, the presence of a large number of major InGaAs image sensor manufacturers in the region, as a result of raw material advancements and the availability of cost-competitive workforces, influences the market growth. Government initiatives for the expansion of food and beverages industries, the healthcare sector, and the presence of small electronic manufacturing companies are adding advantages to the global market. As a result, the InGaAs image sensor market is expected to grow a CAGR 3.2 % during the forecast period.

North America is the second dominating region in the global InGaAs image sensor market. The presence of key players in the region, as well as the high demand for these sensors in the fields of military & defense, scientific research, and industrial automation, increase the size of the InGaAs image sensor market. Furthermore, rising defense budgets and investments from the military and defense sector are expected to boost the market share of InGaAs sensors in North America. Increasing technological developments in sensors for rapidly expanding food and bakery industries and the need for air surveillance are adding an advantage to the market. ARTAS provides sky surveillance to different airports by using a different combination of image sensors. USA, Qatar, Indonesia, and South Africa, etc countries are expecting to join this ARTAS surveillance. This recent development expects to create demand for the InGaAs Image Sensors in this region.

The objective of the report is to present a comprehensive analysis of the global market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market has been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The report also helps in understanding the InGaAs Image Sensors market dynamics, structure by analyzing the market segments and projecting the market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the global InGaAs Image Sensors make the report investor’s guide.
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InGaAs Image Sensors Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2018 to 2022
Market Size in 2022:
US $ 20.71 Bn.


Forecast Period 2023 to 2029 CAGR:
9.71%
Market Size in 2029:
US $ 39.62 Bn.


 Segments Covered:
by Type
Linear Image Sensor
Area Image Sensor


by Application
Industrial Measurement
Surveillance & Security
Optical Coherence Tomography
Laboratory Measurements


by Vertical
Industrial Automation
Military & Defense
Food & Beverages
Transportation and Healthcare
Life Sciences



InGaAs Image Sensors Market, by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina Rest of South America)
InGaAs Image Sensors Market Key Players
1. United Technologies Corporation
2. Teledyne Technologies Inc.
3. FLIR Systems, Inc.
4. Chunghwa Leading Photonics Tech
5. New Imaging Technologies
6. Sensor Unlimited, Inc.
7. Xenics
8. Synergy Optosystems Co., Ltd
9. Sofradir Group
10.Jenoptik
11.SemiConductor Devices
12.First Sensor AG
13.Luna
14.Teledyne DALSA Inc.
15.OSI Laser Diode, Inc.
16.PD-LD, Inc.
17.Sony Industrial

Frequently Asked Questions:

1. Which region has the largest share in Global InGaAs Image Sensors Market?
Ans: Asia Pacific region held the highest share in 2022.

2. What is the growth rate of Global InGaAs Image Sensors Market?
Ans: The Global InGaAs Image Sensors Market is growing at a CAGR of 9.71% during forecasting period 2023-2029.

3. What is scope of the Global InGaAs Image Sensors Market report?
Ans: Global InGaAs Image Sensors Market report helps with the PESTEL, PORTER, COVID-19 Impact analysis, Recommendations for Investors & Leaders, and market estimation of the forecast period.

4. Who are the key players in Global InGaAs Image Sensors Market?
Ans: The important key players in the Global InGaAs Image Sensors Market are – United Technologies Corporation, Teledyne Technologies Inc., FLIR Systems, Inc., Chunghwa Leading Photonics Tech, New Imaging Technologies, Sensor Unlimited, Inc., Xenics, Synergy Optosystems Co., Ltd, Sofradir Group, Jenoptik, SemiConductor Devices, First Sensor AG, Luna, Teledyne DALSA Inc., OSI Laser Diode, Inc., PD-LD, Inc., and Sony Industrial

5. What is the study period of this Market?
Ans: The Global InGaAs Image Sensors Market is studied from 2022 to 2029.