The GigE camera market is estimated to grow with a moderate CAGR during the forecast period, i.e., 2022-2030. The fast video transmission abilities of GigE cameras, along with the capacity to connect with multiple devices, are expected to fuel the progress of this market. GigE camera is created on the basis of the GigE vision interface standard, which was developed for cameras that transmit images over gigabit Ethernet. This camera can be developed at a very low-cost and facilitates video transmission with efficacy. Moreover, the GigE camera does not need a frame grabber unlike many traditional interface technologies, which considerably makes it a cost-effective option, along with easy configuration options. These advantages are estimated to boost the market growth over the forecast period. The growth of the market can also be attributed to the growing applications of GigE cameras and the advancements in technologies. The demand for the upgradation of transport infrastructure on a global scale necessitates the adoption of GigE cameras to ensure optimal enforcement of speed, toll, and red lights. This factor is expected to contribute significantly to market growth. According to the data collected from the World Bank’s Private Participation in Infrastructure (PPI) report, 2020 the private investment commitments in the transport sector globally amounted to USD 10.5 Billion and included 41 infrastructural projects.
The market is segmented on the basis of type into line scan camera, and area scan camera, out of which, the area scan camera segment is anticipated to grab the largest share by the end of 2030 on account of its easier setup and alignment. Area scan cameras provide greater flexibility as they allow a single image to be segmented into multiple regions of interest so that specific objects can be looked upon, which is also projected to contribute to the growth of the segment during the forecast period. CLICK TO DOWNLOAD SAMPLE REPORT
On the basis of end-user, the security & surveillance segment in the global GigE camera market is projected to grow with a significant CAGR over the forecast period. The growth of the segment can be attributed to the use of GigE cameras to safeguard the growing transport infrastructure and public security. GigE cameras are increasingly being deployed in intelligent transportation systems for electronic tolling, speed enforcement, and generating travel time information.
The never-ending growth in internet accessibility around the world along with numerous technological advancements comprising 5G, blockchain, cloud services, Internet of Things (IoT), and Artificial Intelligence (AI) among others have significantly boosted the economic growth in the last two decades. As of April 2021, there were more than 4.5 billion users that were actively using the internet globally. Moreover, the growth in ICT sector has significantly contributed towards GDP growth, labor productivity, and R&D spending among other transformations of economies in different nations of the globe. Furthermore, the production of goods and services in the ICT sector is also contributing to the economic growth and development. As per the statistics in the United Nations Conference on Trade and Development’s database, the ICT good exports (% of total good exports) globally grew from 10.816 in 2015 to 11.536 in 2019. In 2019, these exports in Hong Kong SAR, China amounted to 56.65%, 25.23% in East Asia & Pacific, 26.50% in China, 25.77% in Korea, Rep., 8.74% in the United States, and 35.01% in Vietnam. These are some of the important factors that are boosting the growth of the market.
Geographically, the market is segmented into North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa region. In 2021, the market in North America is evaluated to occupy the largest share in terms of revenue, owing to the high use of GigE cameras in diverse sectors in the region, such as, security & surveillance, transportation, and medical diagnostics. Along with this, early adoption of advanced technologies by the public as well as the government, is also expected to contribute to the market growth in the region.
Alternatively, the market in Europe is also anticipated to occupy a significant share in the GigE camera market on account of its proven success in technology adoption and focus on developing public transport infrastructure. The presence of well-developed transport infrastructure invariably raises the need to maintain it to cater requirements of the increasing population, and resultantly, the GigE camera market is expected to witness growth.
The market in the Asia Pacific is predicted to grow at the highest CAGR over the forecast period owing to the increasing awareness about the advancement of technology and increase in investment associated with the manufacturing of electric vehicles in the region.
The global GigE camera market is further classified on the basis of region as follows:
Our in-depth analysis of the global GigE camera market includes the following segments:
FREQUENTLY ASKED QUESTIONS
The fast video transmission abilities of GigE cameras and the capacity to connect with multiple devices are the key factors driving market growth.
The market is anticipated to attain a moderate CAGR over the forecast period, i.e., 2022-2030.
The extensive load on CPU due to high speed & resolution and necessity for universal drivers to make use of data are estimated to hamper market growth.
The market in Asia Pacific region will provide ample growth opportunities owing to the increasing awareness about the technology and increase in investment associated with the manufacturing of electric vehicles in the region.
The major players dominating the GigE camera market are Basler AG, Allied Vision Technologies GmbH, Teledyne DALSA, and Toshiba Teli Corporation, among others.
The company profiles are selected on the basis of revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by type, end-user, and by region.
With respect to end-user, the security & surveillance segment is anticipated to hold the largest market share owing to the growing use of GigE cameras to safeguard the growing transport infrastructure and security.
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