High-speed Camera Market is Expected to Reach USD 876.6 Million By 2027
Published | January 2021
According to BlueWeave Consulting, the global high-speed camera market is estimated to have
reached USD 450.2 Million in 2020 and is further projected to reach USD 876.6
Million by 2027, growing at a CAGR of 10.2% during the forecast period. The
increasing need for highly detailed analyses, such as combustion testing and
flow visualization in aerospace, explosives, pyrotechnics, and ballistics, is
expected to be the driving force for increasing the demand for high-speed
cameras in the manufacturing sector. Moreover, the increase in demand for
high-speed cameras within the sports sector is also on the rise owing to its
enhanced capabilities such as high resolution, frame rate, and image
processing. High-speed photography is majorly used in biomechanical research,
healthcare, entertainment, aerospace, automotive, and military.
Emerging applications of high-speed cameras
The high-speed imaging domain has deepened vastly—films have been displaced by digital sensors, processors, and storage media, from a few thousand frames per second to millions of frames per second today. Technological advancements have increased the use of high-speed imaging in industrial operations, and the scope of applications of high-speed cameras has constantly been expanding—from counting an exact number of tablets filled in a container in a pharmaceutical plant to ballistics research in the defense industry. Thus, the increasing utilization of high-speed cameras is boosting the demand for the product.
Increasing demand for lightweight and small high-speed cameras
Increasing demand for high-speed cameras in the sports sector is also on the rise due to their enhanced capabilities such as high resolution, frame rate, and image processing. In addition, growing demand for small, light-weight high-speed cameras in automotive and transportation and increasing usage of high-speed cameras in thermal imaging applications act as a major driver for the market. Thus, the increasing demand for the product is boosting the growth of the high-speed cameras market. Furthermore, emerging applications of high-speed cameras in the intelligent transportation system (ITS), and the growing adoption of high-speed cameras in the aerospace & defense industry vertical among others offer lucrative opportunities for the market globally.
Used high-speed camera occupies the major share of the global high-speed camera market
Based on usage, the global high-speed camera market has been divided into the rental high-speed camera, used high-speed camera & new high-speed camera. They used high-speed cameras segment is estimated to register the highest CAGR growth during the forecast period. Due to the high cost of new high-speed cameras, the market for used equipment is likely to grow at the highest rate. Companies that do not require imagery products based on the latest technology and have budgetary constraints adopt used high-speed cameras. This also helps create an extended value chain by allowing manufacturers, resellers, and distributors to extend the life of a product and extract more value from it. Used instruments are mostly ex-demonstration instruments sold to customers.
Global High-speed Camera market: Regional insights
The Asia-Pacific region will maintain its dominance during the forecast period due to the increasing industrialization and evolution of manufacturing hubs, particularly China and India, which are expected to be major drivers behind this growth. Investments from all over the world into the region’s manufacturing sector is growing, which is creating an increased need for more efficient production line monitoring. Additionally, initiatives like the ‘Make in India’ program to place India on the world map as a manufacturing hub and give global recognition to the Indian economy. India is expected to become the fifth largest manufacturing country in the world by the end of the year 2021 stated by IBEF. Such initiatives will drive the market for high-speed camera market in the manufacturing sectors.
The leading players” in the global high-speed camera market include By Photron (Japan), Photron LTD. (Tokyo), nac Image Technology (Japan), Vision Research (US), PCO AG (Germany), Mikrotron (Germany), Optronis (Germany), Integrated Design Tools (US), Monitoring Technology (US), AOS Technologies (Switzerland), Fastec Imaging (US), Weisscamm GMBH I.L (Germany), Motion Engineering Company (US), DEL Imaging (US), iX Camera (UK), and Xcitex (US) & other prominent players. These players have adopted various growth strategies, such as expansions, partnerships, agreements, and collaborations to achieve growth in the high-speed camera market to strengthen their product portfolio and broaden their customer base.
The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of global high-speed camera market size & forecast. The report promises to provide recent technology trends of the high-speed camera market and industry insights that help decision-makers to make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.
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