Infrared Detector Market to Grow at 5.3% CAGR by 2030
The rising demand for infrared detectors in the both industrial and non-industrial sector for motion sensing, temperature measurement, and surveillance purposes are the factors driving the infrared detectors market growth.
The Infrared Detector Market is expected to garner USD 456.7 million in 2019 and is expected to garner USD 806.0 million by 2030, registering a CAGR of 5.3% during the forecast period 2020 – 2030, by Next Move Strategy Consulting.
Infrared detectors can identify the presence of infrared radiations in the surroundings. Infrared detectors have wide range of applications both in industrial as well as non-industrial sectors like motion sensing, temperature measurement and many more. Increased demand of consumer electronics, safety services at public places and wide application in various other end user industries are expected to be the major factors driving the growth of infrared detector market over the forecast period. These are widely used in various applications such as aerospace applications, medical applications, night vision application, security, etc. due to its compact size and ability to detect infrared light from far distances. However, infrared frequencies are affected by hard objects like walls and doors. Smoke, dust, fog and sunlight can also limit the effectiveness of these detectors and raises accuracy concerns, which acts as a barrier to the growth of infrared detector market. On the other hand, the aggressive R&D to develop infrared detectors with greater accuracy and high penetrating power, coupled with reduction in the prices and use of night vision ability for military applications are expected to create numerous opportunities in the market over the forecast period.
In the report, the market is segmented based on type, spectral range, application and geography. On the basis of type, the market is classified into thermal detector and photo detector. By spectral range infrared detector market is sub divided into short-wave IR, medium-wave IR, and long-Wave IR. By applications the market is sub segmented into aerospace & defence, industrial, medical, automotive, security, and consumer electronics. Among various spectral range, globally, long-wave IR detectors dominates the market due to their ability to sense thermal signs and provide excellent detection capability in low-light conditions. Geographically, the infrared detector market is divided into North America, Europe, Asia-Pacific and rest of the world.
Asia-Pacific infrared detector market is expected to grow at the fastest CAGR during the forecast period owing to strong government support. Large scale adoption of the infrared detectors in consumer electronics, smart homes and other security applications has led to the market growth. Moreover, the presence of major players has catalysed this market growth. The developed regions such as North America and Europe are expected to witness steady growth in the coming years.
Browse key industry insights from the report, “Infrared Detector Market by Type (Thermal Detector and Photo detector), Spectral Range (Short-Wave IR, Medium-Wave IR, and Long-Wave IR), Application (Aerospace & Defense, Industrial, Medical, Automotive, Security, and Consumer Electronics) - Global Opportunity Analysis and Industry Forecasts, 2020-2030.” in detail along with the table of contents:
Based on the analysis in the report, the leading manufacturing companies of infrared detctos are Texas Instruments Inc., Honeywell International Inc., Omron Corporation, Excelitas Technologies Corp., Hamamatsu Photonic K.K., FLIR Systems Inc., Murata Manufacturing Co. Ltd., Raytheon Company, Sofradir, and Nippon Avionics.
Key Insights in the Infrared Detector Market Report:
- Current and emerging trends along with opportunities are extensively analysed in the infrared detector market report.
- The forecast of the infrared market comes along with additional information associated with opportunities, restrains and key drivers in the market.
The report infrared detector market – segmented by type, spectral range, application and geography.
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