High-speed Camera Market is Expected to Reach USD 876.6 Million By 2027
Published | 11 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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