InGaAs Image Sensor Market

Global InGaAs image sensor market is estimated to exceed a value of US$ 172.79 Mn by 2031, expanding at a CAGR of 5.2% during the forecast period

ALBANY , NY, US, January 3, 2022 /EINPresswire.com/ -- Transparency Market Research delivers key insights on the global InGaAs image sensor market. In terms of revenue, the global InGaAs image sensor market is estimated to expand at a CAGR of 5.2% during the forecast period, owing to numerous factors regarding which TMR offers thorough insights and forecasts in its report on the global InGaAs image sensor market. The global InGaAs image sensor market is broadly affected by several factors, including increasing applications in a wide range of sectors and rising adoption of advanced technology. Thus, surge in applications of InGaAs image sensors in different sectors is propelling the global market.

InGaAs Image Sensor Market: Dynamics

Manufacturers are developing image sensors that offer high speed, high resolution, sensitivity, and programming tools, which make it easy for integrating hyper spectral imaging for any applications. For instance, InGaAs area image sensor used in hyperspectral cameras for plastic recycling can boost the recycling rate as the hyperspectral cameras screens and sort plastics, which contains flames retardant resins to separate them out from other plastics. Furthermore, the hyperspectral camera can be mounted on various platforms such as satellites, airplanes, UAVs, and other close range platforms. These factors and technological developments are fueling the market for InGaAs image sensors.

Moreover, increase in adoption of InGaAs image sensor-enabled foreign object detection is fueling the market. The InGaAs image sensor-enabled foreign object detection equipment classifies, locates, and analyses complex contamination issues to prevent the foreign object from entering the supply chain. Manufacturers of InGaAs image sensors are developing new products for foreign object inspection. These sensors consists of charge amplifier array, an offset compensation circuit, a shift register, and a timing generator. This factor is projected to propel the market. However, high costs associated with InGaAs camera, regular maintenance requirement, and complexity in manufacturing process are key factors that are likely to hamper the InGaAs image sensor market.

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InGaAs Image Sensor Market: Prominent Regions

The InGaAs image sensor market in North America is expected to expand during the forecast period, owing to the presence of key market players, technological advancements, and rise in usage of InGaAs image sensors in various applications in the region. The InGaAs image sensor market in Europe is projected to expand considerably during the forecast period, due to rise in investments by manufacturers in the region. The InGaAs image sensor market in Asia Pacific is likely to expand during the forecast period, owing to an increase in usage of InGaAs image sensors in industrial automation and automotive sectors, and the presence of a large number of players designing and producing InGaAs image sensors.

InGaAs Image Sensor Market: Key Players

Key players operating in the global InGaAs image sensor market are Teledyne FLIR LLC, Hamamatsu Photonics Kk, Lynred, New Imaging Technologies, Sensors Unlimited Inc., ISORG SA, Sony Semiconductor Solutions Corporation, Synergy Optosystems Co. Ltd., Xenics NV, and Teledyne e2V.

Rise in Demand for InGaAs Image Sensor for Security, Surveillance: Key Driver

Cameras employed in security and surveillance use InGaAs image sensor to obtain high resolution and clear image, which helps security personnel to monitor the areas under surveillance. Hence, demand for InGaAs image sensor is increasing in security and surveillance applications. Furthermore, countries across the world focusing on security at borders, airports, and military and defense establishments, which, in turn, is fueling market growth.

InGaAs image sensor provides greater zoom range and artificial intelligence enabled surveillance systems. This helps officers to detect unusual moment in the assigned area. This factor is boosting the demand for InGaAs image sensor.

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Rise in Usage of InGaAs Image Sensor in Spectroscopy

Spectroscopy has a wide range of applications such as radar to determine the speed and velocity of distant objects, electronic structure research with various spectroscopes, etc. The InGaAs material with high quantum efficiency and low dark current is used for linear photodiode arrays and IR spectroscopy camera systems. This is driving the demand for InGaAs image sensor.

Moreover, commercially available indium gallium arsenide (InGaAs) detectors have opened up near-infrared (NIR) to applications in broad-based spectroscopy and imaging. These factors are driving the global market.

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