High speed camera is a device that has the capacity to capture moving images and is widely used in the media and entertainment industry. The market is witnessing good growth with the growing demand for compact high speed cameras across different industries.
According to the report, the high speed camera market is projected to expand at an impressive CAGR of 5.86% over the forecast period 2020-2025. The high speed camera market is expected to surge during the forecast period which can be attributed to the growing application of high speed cameras in various end user industries. Expanding the media and entertainment industry coupled with the increasing use of high speed cameras is expected to drive the growth of the market during the forecast period. In addition, an increasing number of sensor suppliers, coupled with the adoption of the latest technology is expected to provide the necessary impetus to the growth of high-speed camera market over the forecast period. However, the high cost associated with it is anticipated to restrain the growth of the market in the coming years.
By the end-user, the high speed camera market is segmented based on travel and transport, media and entertainment, consumer electronics, military and defense, and others. Military and defense are growing at an exponential rate over the forecast period owing to increasing military expenditure by developing countries. For instance, according to the World Bank military expenditure in current USD for China and India has increased from 55.337 and 23.952 billion USD in 2006 to 249.997 and 66.51 billion USD in 2018, showing a growth of nearly 350% and 177% respectively. Also, the consumer electronics industry is showing a growth of a significant rate in the next five years on account of its wider application in manufacturing. In addition, government organizations are investing heavily in high speed cameras aiming to improve traffic management. In fact, recently the government of India invested nearly US$3.6 million in the installation of high speed cameras to prevent the road accidents caused by over speeding.
Geographically, North America is expected to hold a significant share in the market and there has been a rapid surge in the popularity of the high speed camera in the United States. Due to the presence of major market players coupled with growing investment in research and development the market is anticipated to witness substantial growth during the forecast period. Also, the Asia Pacific region is expected to be one of the fastest-growing markets for high speed cameras in the coming years. Developing countries such as India and China are projected to experience robust growth with an upswing being observed in industrial manufacturing, consumer electronics, and automotive industries, creating a sizeable market opportunity for high-speed camera vendors. A similar trend is being noticed in the South American region over the forecast period.
Some of the major players covered as part of the report are AOS Technologies AG, Vision Research Inc., Photron, DEL Imaging Systems LLC, Nac Image Technology, Olympus Corporation, WEISSCAM GMBH, PCO AG, Fastec Imaging Corporation and MIKROTRON GmbH.
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This report segmented the high speed camera market on the basis of the following terms: