Los Angeles, January 17, 2020 -QY Research recently published a report titled, “Global GigE Camera Market Research Report 2020”. The global GigE camera market will be valued at US$585 mn in 2020 is expected to reach US$1083.4 mn by the end of 2026, rising at a CAGR of 9.1% during 2021-2026.
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GigE Camera Market to Rise as it Resolves Multi-vendor Integration Issues
The rising machine vision industry has grown leaps and bounds in a recent few years. Increase in the demand for cameras, which allows seamless integration between machine vision hardware and software products, has been the primary growth driver. GigE camera can reduce time-consumed, multi-vendor integration issues, and installation cost, factors slowing down machine vision industry. They are capable of transferring RAW images through high-speed data rate up to 1000 Mb/s and eliminate the cap on interfaced devices. Lastly, on a standard connection they also offer high data rates and long cable lengths. Additionally, unlike analogue technology or conventional cameras the need for frame grabbers is eliminate, making setup relatively low.
Furthermore, the demand for GigE cameras is rising as it has an array of applications in places where there is a dire requirement for quick data transfer rates, need to setup multiple cameras, and long cable lengths. These factors are expected to hold the better part of the market than conventional cameras increasing the market share substantially.
Intelligent Transportation System Segment to Grow Drastically
Governments globally are investing in managing transportation system this has led to the rising adoption of intelligent transportation system or ITS. This system offers greener, safer, and more connected roads to the future to effectively control toll, speed, and red light enforcement.
Asia Pacific Region to Show Significant Growth in Global Market
The rising number of investments in infrastructure, transportation, and automotive sectors are paving path the way for development in Asia Pacific region. Developing countries like China and India are focusing more in better transportation connectivity and infrastructure for future e-vehicles. These factors are expected to contribute significantly for the future growth in the market.
Manufacturers to Focus on GigE Camera with High Resolution and Dynamic Range
In 2018, The Imaging Source, had announced their four new 9 and 12 MP industrial cameras. These cameras features large-format Sony Pregius CMOS sensors, and the robust ix Industrial® Ethernet interface. The "38 series" color and monochrome cameras are equipped with Sony's cost-effective IMX267 and IMX304 sensors. They offer high resolution, high dynamic range with low noise, and color reproduction.
The major players in the market include Toshiba Teli, Qualitas, Edmund Optics, PixeLINK, IMPERX,Sony, Baumer, Matrox, Point Grey, Teledyne DALSA, Basler, Allied Vision, Jai, GEViCAM, etc.
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