GigE Camera Market size was over USD 1.26 billion in 2023 and is projected to exceed USD 4.4 billion by the end of 2036, witnessing over 10.1% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of GigE camera is evaluated at USD 1.36 billion.
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.
Growth Drivers
Challenges
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Base Year |
2023 |
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Forecast Year |
2024-2036 |
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CAGR |
10.1% |
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Base Year Market Size (2023) |
USD 1.26 billion |
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Forecast Year Market Size (2036) |
USD 4.4 billion |
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Regional Scope |
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The GigE camera 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.
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.
Our in-depth analysis of the global market includes the following segments
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By Type |
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By End-Users |
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North America Market Statistics
Geographically, the GigE camera market is segmented into North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa region. North America industry is estimated to hold largest revenue share by 2036, owing to 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.
Europe Market Analysis
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.
APAC Market Analysis
The GigE camera 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.
October 2020: Teledyne DALSA announced the extension of its Teledyne DALSA Genie Nano-1G Camera Series & Teledyne Lumenera Lt Series USB3 cameras. These cameras offer better performance and image quality for general machine vision applications such as high-speed factory automation.
September 2020: Baumer launched new LXT cameras to provide high-speed with integrated JPEG image compression, which saves bandwidth, CPU load, and storage capacity.
Author Credits: Abhishek Verma
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