New York, US, July 06, 2021 (GLOBE NEWSWIRE) -- Market Overview:
According to a comprehensive research report by Market Research Future (MRFR), “Global Infrared Sensor Market information by Spectrum Range, by Type, by Detection and End User – forecast to 2027” the market is expected to grow from USD 387.4 Million in 2018 to USD 747 Million by 2025, at a CAGR of 10%
Infrared Sensor Market Competitive Landscape:
Key players have incorporated several strategies to stay at the forefront such as partnerships, mergers and acquisitions, geographic expansions, new product launches, and more. For instance, Maxim Integrated Products has launched the next generation of its infrared-based dynamic optical sensor that can sense a broader range of gestures at extended distances.
Dominant Key Players on Infrared Sensor Market Covered Are:
- Murata Manufacturing Co. Ltd (Japan)
- Honeywell International Inc. (US)
- Sofradir (France)
- Teledyne Technologies (US)
- Raytheon Company (US)
- Texas Instruments Incorporated (US)
- Hamamatsu Photonics KK (Japan)
- Omron Corporation (Japan)
- Nippon Avionics (Japan)
- Excelitas Technologies Corp. (US)
- Nippon Ceramic Co. Ltd (Japan)
- Omron Corporation (Japan)
- Dali Technology (China)
- Wuhan Guide Infrared Co. Ltd (China)
- Qioptiq Ltd (UK)
- Pelco (US)
- L-3 Communications Holdings Inc. (US)
- General Dynamics Corporation (US)
- Fluke Corporation (US)
- FLIR Systems Inc. (US)
- E.D. Bullard Company (US)
- DRS Technologies Inc. (US)
- Bosch Security Systems (US)
- Axis Communications AB (Sweden)
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Market USP exclusively encompassed:
Infrared Sensor Market Drivers
Demand for Security Devices Facilitating Thermal Imaging to Boost Market Growth
The growing need for security devices facilitating thermal imaging particularly in unclear atmospheric conditions to spot terror or target activities is predicted to boost market growth over the forecast period.
Besides, lower power consumption, increasing use of infrared sensors in defense, growing adoption of IoT devices, growing focus towards automobile safety, initiatives for smart homes, are also adding market growth.
Infrared Sensor Market Opportunities
Development of Automation in End User Industries to offer Robust Opportunities
The growing development of automation in different end user industries including healthcare and medical sectors, semiconductor and electronics, aerospace and defense, is likely to offer robust opportunities for the market in the forecast period.
Infrared Sensor Market Restraints
High Technology Cost to act as Market Restraint
High cost of technology coupled with decrease in data accuracy with increasing distance between object and detector may act as market restraints over the forecast period.
Infrared Sensor Market Challenges
Strict Government Regulations to act as Market Challenge
Increasing stringent export and import regulations for infrared cameras by governments coupled with the availability of substitute technologies may act as market challenges over the forecast period.
Browse In-depth Market Research Report (111 Pages) on Infrared Sensor:
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Segmentation of Market covered in the Research:
By spectrum range, longwave infrared sensors will lead the market over the forecast period for its wide application in the military and civil application.
By working mechanism, the passive infrared sensors will dominate the market over the forecast period.
By type, the thermal infrared sensors segment will spearhead the market over the forecast period.
By detection, the uncooled infrared sensor segment will have the lions share in the market over the forecast period for the low-cost price, high reliability, and relatively smaller size.
By end user, the oil & gas segment will command the market over the forecast period and at a high CAGR for the increasing demand for IR sensors in offshore applications.
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Regional Analysis
APAC Region to Command Infrared Sensor Market
The Asia Pacific region is predicted to command the market over the forecast period. The growing adoption of IoT, rising smart home and building projects, growing preference of consumers toward better energy management, high demand for various infrared sensors in China and India for the rise in the automotive industry, and the high demand for electronics such as tablets and mobiles, the increase in the production of electronics in India are adding to the global infrared sensor market growth in the region. Besides, robust governmental support, enormous consumer electronics industry, the large-scale adoption of infrared detectors within the latest range of applications such as smart homes, consumer electronics, and security, the presence of various key companies that has catalyzed the local market, increasing developments in security standards, growing adoption of IoT in the region, and the presence of heavy manufacturing industries are also adding market growth.
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Infrared Sensors Market to Benefit from COVID-19
Fortunately, the global infrared sensor market has benefitted from the COVID-19 pandemic. Following the outbreak, there has been a surging need for infrared sensors in thermal imaging that is used for identifying potential patients of COVID by detecting the temperature difference of their bodies. In June 2020, FLIR Systems came up with the FLIR Screen-EST software for automatically performing skin temperature screening of people at 50% faster rate compared to existing on-camera screening mode. Besides, as part of the COVID-19 response, 3 Army programs- the C5ISR Center of US Army Combat Capabilities Development Command, The Army Rapid Equipping Force, and Program Executive Office Soldier led the initiative of using thermal imaging devices for screening elevated body temperatures among personnel entering military facilities. All these are adding to the market growth.
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