The global GigE Camera is expected to exhibit growth at a CAGR of 9.1% and reach USD 5.8 Billion from 2022 to 2032. It is anticipated to be valued at USD 3.5 Billion in 2022. The ability of these cameras to quickly transfer data during specific tasks that require the usage of multiple cameras is set to boost the sales of GigE cameras in the upcoming years.
| Report Attributes | Details |
|---|---|
| Estimated Base Year Value (2021) | USD 2.1 Billion |
| Expected Market Value (2022) | USD 3.5 Billion |
| Anticipated Forecast Value (2032) | USD 5.8 Billion |
| Projected Growth Rate (2022 to 2032) | 9.1% CAGR |
The increasing population, along with the improving lifestyles of the people across the world, is bringing challenges to the respective governments to deal with the development of transportation infrastructure and security across the globe. It is impossible to resolve this issue effectively with additional staffing as this would exceed the budget of the company.
The trend toward the adoption of Intelligent Transport Systems (ITS) in the transportation sector offers one of the most promising prospects for the future, offering safer, greener, and more connected roads. Consequently, industrial cameras such as GigE are in high demand so that speed, toll, and red-light enforcement can be carried out effectively as a result of this. In addition, Power Over Ethernet (PoE) facilitates easy installation because it enables multiple cameras to be installed within a system that is easily accessible to the transportation system as a whole.
There are very challenging requirements for traffic monitoring and red-light enforcement, whereas traffic monitoring only requires capturing usable images in situations ranging from full daylight to night-time, with a corner lamppost providing the only illumination needed. As well as color operation, the camera must have a wide enough field of view to capture the entire vehicle's image and must have a high enough resolution to be able to recognize license plates automatically. The development of connected transport infrastructure is a major priority for many countries, including China.
Europe GigE Camera Market:
As a result of Europe's successful track record in terms of adopting new technology in addition to its focus on developing public transport infrastructure, the GigE camera market is also expected to occupy a significant share in the future. Due to well-established transport infrastructure throughout the world, there is invariably an increase in the maintenance of the infrastructure to meet the needs of the increasing population, and as a result, the GigE camera market is expected to witness significant growth in the forecasted period.
The demand for GigE cameras in the Asia Pacific region is expected to continue to grow owing to the growing end-user industries in the region. As the GigE camera market is expected to grow in the automotive sector, the increasing investment in the region coupled with the increase in investment in e-vehicles may further increase the market's growth rate.
For instance, General Motors invested USD 2.8 billion in South Korea in 2018 as a significant investment.
Further, the region is investing in connected infrastructure projects, which represent 10% of the total global projects currently under construction for energy, transportation, water, and rail that will be completed over the next ten years as part of the restructuring of its embattled unit in the country. As a result of these developments in the region, the demand for GigE cameras is increasing in the region.
GigE cameras are specially designed imaging cameras that can interface with computer systems with the utilization of GigE ports. The increasing demand for Gigabit Ethernet cameras for various imaging applications owing to their ability to transfer data at rates of up to 1000Mb/s is estimated to boost the growth in this market.
These cameras also enable a seamless integration between machine vision software and hardware products. These help in reducing the time-consuming and tedious multi-vendor integration issues that often slow down the machine vision sector.
The requirement of frame grabbers, which are otherwise considered to be a crucial component when used with conventional cameras or analogue technology, is eliminated in GigE cameras. Thus, the installation cost of these camera setups is relatively low, which is a major factor that is projected to fuel the demand for GigE cameras in the near future.
The ongoing integration of GigE Vision technology in multiple applications, such as medical care, Printed Circuit Board (PCB) inspection, and traffic control is a significant factor that is expected to propel the GigE camera market share in the forthcoming years. This technology provides high reliability, enhanced transmission mechanism, long cable length, and improved bandwidth.
GigE Vision is mainly based on the topology of Gigabit Ethernet technology, which is set to gain immense popularity in future. Gigabit Ethernet delivers several advantages with the increasing usage in both the consumer and industrial markets. As it is a low-cost and an easy-to-use interface, it is expected to be extensively used in a wide range of applications.
Even though GigE Vision has various advantages, such as lower cost, faster transfer rate, simple cabling, and elimination of camera files, as compared to Camera Link and parallel standards, it has certain disadvantages as well.
At times, it is very difficult to synchronize with other devices and provides less triggering support. The transfer of high data volumes over long distances requires the usage of many electrons that are pushed through the cable. It needs robust line drivers, which surges the heat generation and power consumption of industrial GigE cameras. Spurred by the above-mentioned factors, the sales of GigE cameras may get hampered in the assessment period.
The increasing usage of GigE cameras in the military and defense industry and the high demand for machine vision cameras in the USA. and Canada are likely to bode well for the North America market. The urgent need for high-quality cameras for security and surveillance applications is another significant factor that is expected to drive the demand for GigE cameras in North America.
The growing usage of GigE interface in machine vision cameras in the USA. owing to its superior networking infrastructure is likely to augment the market. It is set to be extensively used in industrial image processing in a wide range of sectors, including pharmaceuticals, automotive, electronics and semiconductor, packaging and printing, food and beverage, and healthcare in North America, which is likely to augur well for the market.
Asia Pacific is anticipated to exhibit lucrative GigE camera market share in the near future backed by the ongoing development of various end-use industries. Rising investments by governments of India and China in the automotive sector to create new e-vehicles is a vital factor that is likely to accelerate the market.
As per the International Trade Administration, China is considered to be the world’s largest vehicle market by both manufacturing and sales output. By 2025, the domestic production in this country is expected to reach 35 million vehicles. In 2020, more than 25 million vehicles were sold in China and this trend is likely to continue throughout the forthcoming years and boost the market.
On the other hand, the increasing preference for GigE camera interface, especially in machine vision cameras owing to the presence of a well-established networking infrastructure is estimated to drive the market in Asia Pacific. These are set to be extensively used in pharmaceutical application for flow control processes and barcode reading.
Some of the key players operating in the global GigE camera are Toshiba Corporation, Allied Vision Technologies GmbH, Sony Corporation, Basler AG, Teledyne DALSA Inc., Baumer, Qualitas Technologies, IMPERX, Inc., Omron Corporation, and Matrox Imaging.
The global market is highly fragmented with the presence of several renowned companies providing their in-house products. Many vendors are focusing on the rapid adoption of the new product launch strategy with less product differentiation in terms of offerings. A few other key players are aiming to engage in mergers and acquisitions with start-up companies and local firms to strengthen their footprint in the global market.
| Report Attributes | Details |
|---|---|
| Growth Rate | CAGR of 9.1% from 2022 to 2032 |
| Base Year for Estimation | 2021 |
| Historical Data | 2015 to 2020 |
| Forecast Period | 2022 to 2032 |
| Quantitative Units | Revenue in USD Million and CAGR from 2022 to 2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis |
| Segments Covered | End User, Technology, Color Sensor Type, Type, Region |
| Regions Covered | North America; Latin America; Western Europe; Eastern Europe; APEJ; Japan; Middle East and Africa |
| Key Countries Profiled | USA, Canada, Brazil, Argentina, Germany, UK, France, Spain, Italy, Nordics, BENELUX, Australia & New Zealand, China, India, ASEAN, GCC, South Africa |
| Key Companies Profiled | Toshiba Corporation; Allied Vision Technologies GmbH; Sony Corporation; Basler AG; Teledyne DALSA Inc.; Baumer; Qualitas Technologies; IMPERX, Inc.; Omron Corporation; Matrox Imaging |
| Customization | Available Upon Request |
FMI projects the global GigE camera market to expand at a 9.1% value CAGR by 2032.
North America is expected to be the most opportunistic GigE camera market.
Toshiba Corporation, Allied Vision Technologies GmbH, Sony Corporation, Basler AG, Teledyne DALSA Inc., Baumer, Qualitas Technologies, IMPERX, Inc., Omron Corporation, and Matrox Imaging are some of the prominent GigE camera manufacturers.
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