SAN FRANCISCO, July 21, 2017 (GLOBE NEWSWIRE) -- Global Infrared Sensor Market Report, published by Variant Market Research, forecast that the global market is expected to reach $692 Million by 2024 from $286 Million in 2016, growing at a CAGR of 11.7% from 2016 to 2024. By geography, Asia-Pacific and Europe are expected to grow at a CAGR of 12.1% and 11.9%, respectively, during the forecast period.
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The major driving factor of the market is the growing applications of infrared sensors in the military and civil sectors. Moreover, increasing expendable income has led to rise in demand for tablets and smartphones. Additionally, the expanding computerization of the industrial sector has boosted the growth of the market.
The global infrared sensor market is categorized into working mechanism, detection, functionality, and end-user. By working mechanism, the market is segmented into passive IR sensor and active IR sensor. The segmentations by detection include uncooled IR sensor and cooled IR sensor. Functionality segment is classified into thermal infrared sensor and quantum infrared sensor. By end-user, the market has been bifurcated into consumer electronics, chemicals, aerospace & defense, oil & gas, mining, pharmaceuticals, and others. By working mechanism type, passive IR sensor accounted for the largest market share of 43.7% in 2016. Oil & gas was the maximum revenue generating segment by end-user.
By geography, the global infrared sensor market is segmented into North America, Europe, Asia-Pacific, and RoW. North America accounts for the largest share of the market with 33.4%, in the year 2016. Asia-Pacific is the fastest growing region in the global cosmetics ingredient market, and is projected to continue this trend during the forecast period.
Major players in the infrared sensor market include Honeywell International Inc., Hamamatsu Photonics, Excelitas Technologies Corp., Nippon Avionics Raytheon Company, Nippon Ceramic Co. Ltd, Texas Instruments Inc., Murata Manufacturing Co., Ltd, Omron Corporation, and Sofradir. For instance, in November 2016, Excelitas Technologies Corp. announced its CaliPile sensors, which represents an innovative range of intelligent IR sensors that comprise highly-sensitive infrared detectors, linked with electronic circuitry, and others.
The study of infrared sensor market includes Scope of Infrared Sensor Market
Working Mechanism Segments
• Passive IR Sensor
• Active IR Sensor
Detection Segments
• Uncooled IR Sensor
• Cooled IR Sensor
Functionality Segments
• Thermal Infrared Sensor
• Quantum Infrared Sensor
End-User Segments
• Consumer Electronics
• Chemicals
• Aerospace & Defense
• Oil & Gas
• Mining
• Pharmaceuticals
• Others
Geography Segments
• North America
- US
- Canada
- Mexico
• Europe
- U.K.
- Germany
- France
- Italy
- Others
• Asia-Pacific
- China
- Japan
- India
- Others
• RoW
- South America
- Middle East
- Africa
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