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According to our latest market study on "InGaAs Camera Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Camera Cooling Technology, Scanning Type, and Application," the market is expected to grow from US$ 107.99 million in 2021 to US$ 183.35 million by 2028; it is estimated to grow at a CAGR of 7.9% from 2021 to 2028.

Rising Usage of Machine Vision Systems Propels InGaAs Camera Market Growth

This technology substitutes human visual sense and judgment capabilities with digital cameras and image processing to complement manual inspections and measurements. Different industries incorporate this technology to automate their production and improve product quality and speed. The rising demand for high-quality inspection and automation in various industries is driving the need for machine vision, eventually bolstering the InGaAs camera market. Moreover, the demand for machine vision systems for 3D inspection and vision-guided robots is further driving the InGaAs camera market's growth. Increasing research and development and the launch of new products by market players are also propelling the InGaAs camera market substantially. For example, Xenics NV offers a small, low-cost, uncooled InGaAs camera to increase the productivity of industrial machine vision systems. Thus, technological advancements in InGaAs cameras are driving the InGaAs camera market's growth.