Market Research Report
GigE Camera - Global Market Outlook (2021 - 2028)
|GigE Camera - Global Market Outlook (2021 - 2028)|
Published: March 1, 2022
Stratistics Market Research Consulting
Content info: 200+ Pages
Delivery time: 2-3 business days
According to Stratistics MRC, the Global GigE Camera Market is accounted for $0.85 billion in 2021 and is expected to reach $1.91 billion by 2028 growing at a CAGR of 12.3% during the forecast period. GigE camera stands for Gigabit Ethernet Cameras. They are used in applications that need fast data transfer rates, multiple cameras, or long cable lengths. Gigabit Ethernet Cameras feature fast data transfer rates up to 1000Mb/s making them suitable for many demanding imaging applications. Gigabit Ethernet Cameras are imaging cameras that have been designed to interface with computer systems using GigE ports. Gigabit Ethernet Cameras may as well be used in a number of locations far from a dedicated computer because of the long cable length allowed by Gigabit Ethernet technology.
Surge in usage of GigE camera in military & defense industry
Factors, such as high usage of GigE camera in security & surveillance application and surge in usage of GigE camera in military & defense industry drive the GigE camera market growth. GigE is the most frequent and desired interface for machine vision cameras due to the networking infrastructure that is already in place. GigE vision is an interface standard for industrial image processing by digital cameras that originated in the field of machine vision. Machine vision cameras are used in various industries such as electronics & semiconductor, healthcare, automotive, food & beverage, pharmaceuticals, packaging & printing.
The excessive load on CPU
The prominent factors that impact the GigE camera market growth are high usage of GigE camera in security & surveillance application, rise in demand for machine vision cameras, and surge in usage of GigE camera in military & defense industry. However, the excessive load on CPU due to high speed and resolution capabilities restricts the market growth.
Growing initiatives by the government on the development of transportation infrastructure
Rising initiatives by the government on the development of transportation infrastructure will further create lucrative market growth opportunities. The market growth is primarily driven by factors like fast data transfer speed, decreasing development cost and efficient video transmission with easier configuration options.
Necessity of universal driver for interoperability
It is a universally applicable digital interface, which for the first time provides the potential to produce cameras that can replace analog devices in almost every application. Gigabit Ethernet offers the widest technological flexibility with regard to bandwidth, cable length, and multi-camera functionality.
The traffic camera segment is expected to have the highest CAGR during the forecast period
The traffic camera segment is growing at the highest CAGR in the market during the forecast period. Unlike traffic monitoring, toll and red light enforcement have demanding requirements to capture usable images in lighting conditions that range from full daylight to night-time with only a corner lamp post for illumination. The camera also needs to include colour operation and must have a wide enough field of view to capture the entire vehicle's image and need high enough resolution that automatic license plate recognition is reliable.
Region with highest share:
North America is projected to hold the largest share in the market due to the prevalence of major industry players spread across countries in this region. Rising application of GigE cameras by these end user verticals is another factor fostering the growth of GigE camera market in this region.
Region with highest CAGR:
Asia Pacific is projected to have the highest CAGR due to the growing end-user industries. In the automotive sector specifically, the increasing investments in the region coupled with the growth in investments related to e-vehicles are further expected to propel the gigE camera market.
Key players in the market:
Some of the key players profiled in the GigE Camera Market include Allied Vision GmbH, Basler AG, Baumer, FLIR Integrated Imaging Solutions Inc, Jai Corp, Matrox Electronic Systems Ltd, Pleora Technologies Inc, Point Grey Research Inc, Qualitas Technologies Pvt Ltd, Sony Corporation, Teledyne Dalsa Inc, Toshiba Teli Corporation, Cognex Corporation, Keyence Corporation, and ISRA Vision.
In February 2019: Teledyne Marine launched GigE subsea underwater camera range. The company claimed that this whole range also suite for its Versatile and Lightweight Observation ROV (VALOR) launched in 2018. The company is also leveraging the CMOS technology from Teledyne Dalsa.
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Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.