Dublin, Dec. 31, 2020 (GLOBE NEWSWIRE) -- The "Infrared Imaging Market with COVID-19 Impact Analysis - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The Infrared Imaging Market is Expected to Grow at a CAGR of 7.6% from 2020 to 2025, to Reach USD 8.3 Billion by 2025 from USD 5.8 Billion in 2020.
This report segments the infrared imaging market by wavelength, technology, application, vertical, and geography. It also describes major drivers, restraints, challenges, and opportunities about this market, as well as includes market share analysis, value chain analysis, porter's five forces analysis, trade analysis, ecosystem, technological trends, pricing analysis, key patents, standards and frameworks, and case studies/use cases.
The high adoption of infrared cameras in security and surveillance, and quality control and inspection applications is the major driver for the infrared imaging market. The increasing demand for infrared imaging cameras from APAC and rise in the penetration of SWIR cameras are also expected to considerably boost the infrared imaging market in the coming years. However, the high cost of infrared cameras is currently the major challenge facing the market.
Nonindustrial vertical to dominate infrared imaging market, in terms of size, during the forecast period
The infrared imaging market for nonindustrial vertical is expected to hold a dominant position during the forecast period. The leading position of the nonindustrial vertical can be attributed to the high adoption of infrared imaging products for the security & surveillance application, especially in the military & defense, and civil infrastructure segments.
Uncooled infrared imaging segment to hold the largest share of infrared imaging market and witness significant growth from 2020 to 2025
In terms of market size, the uncooled infrared imaging segment is expected to dominate the infrared imaging market during the forecast period and is likely to witness significant growth in the said market from 2020 to 2025. Long-wave infrared cameras and near-infrared cameras mostly employ uncooled detectors. These cameras are widely adopted in the security & surveillance application, which accounted for a majority share of the infrared imaging market. This is one of the key factors leading to the dominance of the uncooled segment in the infrared imaging market.
APAC to witness the highest growth in the market during the forecast period
APAC is expected to witness the highest growth in the infrared imaging market during the forecast period. Growing penetration of infrared imaging products in both the industrial and nonindustrial verticals has led to the high growth of APAC in the infrared imaging market. Since the infrared imaging technology allows users to see beyond the visible spectrum, it has gained popularity for various applications, such as night vision enhancement, moisture detection, temperature monitoring, camouflage detection, and surveillance.
FLIR Systems (US), Fluke (US), Sensors Unlimited (US), and Leonardo DRS (US) are among the key players operating in the infrared imaging market.
Market Dynamics
Drivers
- High Adoption of Infrared Imaging Products in Security & Surveillance Application
- Increasing Use of Infrared Cameras in Quality Control and Inspection Application
- Growing Popularity of Uncooled Infrared Cameras
Restraints
- Stringent Import and Export Regulations Limit Growth of Infrared Imaging Market
Opportunities
- Growth Opportunities in Emerging APAC Countries
- Emerging Application Areas for SWIR Cameras
- Penetration of Infrared Cameras in Consumer Electronics Industry
Challenges
- High Cost of Infrared Cameras
- Need to Design Highly Accurate Cameras
COVID-19 Related Drivers
- Companies Launching Software to Improve Skin Temperature Screening
- Use of Thermal Imaging to Spot COVID-19 Expected to Drive Infrared Imaging Market in Forecast Period
COVID-19 Related Challenges
- Post-COVID-19 Infrared Imaging Position
Companies Mentioned
- Allied Vision Technologies
- Axis Communications
- C-Thermal
- Cox
- Dali Technology
- Episenors
- FLIR Systems
- Fluke
- Ircameras
- L3Harris Technologies
- Leonardo Drs
- Lynred
- New Imaging Technologies
- Opgal Optronic Industries
- Princeton Infrared Technologies
- Princeton Instruments
- Raptor Photonics
- Sensors Unlimited
- Tonbo Imaging
- Xenics
For more information about this report visit https://www.researchandmarkets.com/r/hpkr4o
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