GigE Camera Market Size

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.