Global InGaAs image sensor market is projected to grow exponentially by 2027, registering a significant CAGR during the forecast period (2020-2027). With the extended InGaAs technology, the sensor can detect the extensive wavelength, making it suitable for hyperspectral imaging. Resultantly, InGaAs image sensors witness increasing use in various consumer electronics, such as smartphones with high-resolution cameras, digital still cameras (DSC), and automotive cameras.
Global InGaAs Image Sensor Market - Competitive Analysis
Highly competitive, The InGaAs Image Sensors Market appears fragmented due to the presence of several well-established players. To gain a larger competitive share, industry players incorporate strategic initiatives such as mergers & acquisitions, collaborations, expansion, and product/ technology launch.
Major Players
Players leading the global InGaAs image sensor market include ABB Ltd., Rockwell Automation, Emerson Electric Company, Honeywell International Inc., NXP Semiconductor N.V., Eaton Corporation PLC, Texas Instruments, Renesas Electronics Corporation, Omron Corporation, and Yokogawa Electric Corporation, among others.
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Rising Demand for Smartphones with High-Resolution Camera is a Key Driving Force
Increasing uses of InGaAs image sensors in camera-enabled mobile phones and biometric applications boost the growth of the market. Besides, advantages such as low power cost consumption, affordable prices, and compactness foster market growth. Rising demand from some rapidly growing industries such as consumer electronics, automotive, healthcare, and defense increases the InGaAs image sensor market size.
Complexities in Integration of InGaAs Image Sensor Restrain Market Growth
Despite significant prospective, the market witnesses major setbacks, such as technical complexities in integrating InGaAs image sensors and the falling market of digital still cameras. These factors are likely to hamper market growth cumulatively. Nevertheless, augmenting demand for InGaAs image sensors with programmable, on-chip charge-to-voltage conversion gain would support the market growth throughout the assessment period.
Global InGaAs Image Sensor Market - Segmentation
The market is segmented into types, applications, verticals, and regions. The type segment is sub-segmented into InGaAs area image sensors and InGaAs linear image sensors. The application segment is sub-segmented into spectroscopy, surveillance & security, sorting inspection, fiber optic communication, optical coherence tomography, and others.
The vertical segment is sub-segmented into industrial automation, military & defense, healthcare & life science, food & beverages, transportation, and others. The region segment is sub-segmented into Asia Pacific, Americas, Europe, and rest-of-the-world.
Global InGaAs Image Sensor Market - Regional Analysis
North America dominates the global InGaAs Image Sensors Market Analysis. Factors such as the vast advances in and imaging sensor technologies and the penetration of autonomous devices drive the market growth. Increasing uses of these sensors due to their high-PDE InGaAs alloys to yield better-ranging performance in system simulation influences the market landscapes.
Alloying of more exotic semiconductors can make InGaAs capable of detecting wider wavelengths of light. Besides, the increasing numbers of smartphone users and rising demand for InGaAs image sensors in consumer electronics & automotive sectors boost the market growth. The US dominates the regional market due to the wide uptake of image sensors in imaging devices used in the health and medical sectors.
Industry/ Innovation/ Related News
May 28, 2021 --- Sony image sensors announced the development of CMOS-like InGaAs image sensors, which can make the SWIR technology marketable. The cutting-edge sensor technology, developed by Sony, combines visible wavelength and SWIR that addresses and solves major obstacles that so far prevented the commercial breakthrough of the SWIR-sensor technology in industrial applications.
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