Market Trends of GigE Camera Industry
This section covers the major market trends shaping the GigE Camera Market according to our research experts:
Traffic, Security & Surveillance Segment to Grow Significantly
- The growing population, along with the improving lifestyles of the people across the world, is bringing challenges for the respective governments to manage the developing transportation infrastructure and security. This cannot be optimally resolved by additional staffing because it will be over the budget.
- The trend towards the adoption of Intelligent Transport System (ITS) offers the most promising safer, greener and more connected roads to the future. This enables the demand for industrial cameras like GigE so that speed, toll and red light enforcement can be done effectively. Also, the Power Over Ethernet (PoE) provides easy installation as a result of multiple cameras in a system that can be accessed easily for the transportation system.
- 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.
- Many countries, including China, are highly investing in developing connected transport infrastructure. According to the 2018 global infrastructure report, there are 30 transport infrastructure projects running in the year 2017-2018. Also, TIA estimated the United States to invest USD 39 billion for ITS.
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Asia-Pacific Region to Witness Fastest Growth
- The demand for GigE cameras is expected to see a steady growth rate in the region owing 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. For instance, General Motors has invested USD 2.8 billion as fresh investment in South Korea in 2018 over the next ten years as part of its plan to restructure its embattled unit in the country.
- The GigE camera is the most common and preferred interface for machine vision cameras as the networking infrastructure already present. Lab automation for the pharmaceutical is one of the most significant application of GigE cameras. For barcode reading and flow control processes, monochromatic cameras are used where the colour is not essential.
- According to the vissiononline.org., 95% of the cameras used in life sciences are greyscaled, and only about 5% are colour. The Indian pharmaceutical industry which provides 40% of the generic drugs to the United States are developing towards the adoption of industry 4.0, driving the demand for GigE cameras in the region.
- Moreover, the region is investing in connected infrastructure projects which represent 10% of the total global projects are currently running towards energy, transportation, water and rail. These developments in the region are driving the demand for GigE camera market growth.
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