DUBLIN–(BUSINESS WIRE)–The “Global Infrared Detector Market: Analysis By Type, By Wavelength, By Industry Vertical, By Region Size and Trends with Impact of COVID-19 and Forecast up to 2028” report has been added to ResearchAndMarkets.com’s offering.
The global infrared detector market was valued at US$468.91 million in 2022. The market value is forecasted to grow to US$770.10 million by 2028. The market is anticipated to grow at a CAGR of approx. 9% during the forecasted period of 2023-2028.
Increasing focus on enhancement of security and surveillance in residential and commercial sector, rising government investments in defense sector, rapid industrialization, increasing demand for infrared detectors in imaging applications, growing use IR detectors in non-contact temperature measurement solutions, etc., have been positively contributing towards increased demand for infrared detectors.
Other significant factors are increasing popularity of IR detectors in robotics, growing preference of consumers towards better energy management and ongoing technological advancements and innovations in the market by infrared detector manufacturing companies to remain competitive in the market and strengthen their current portfolios.
The North America infrared detector market is divided into three regions on the basis of geographical operations, namely, the US, Canada and Mexico, where the US is the largest market within North America infrared detector market, owing to growing demand of infrared detectors in automotive, defense & manufacturing sectors, rising demand for consumer electronics, and increasing focus of IR detector companies on product innovations, collaborations & acquisitions for expanding consumer base and gaining larger market share.
The global infrared detector market has been growing over the past few years, due to factors such as increasing IoT connectivity, growth in number of smart homes and buildings, rising demand of IR detectors in various end user industries, increasing use of IR in wearable devices, increasing focus on improved security and surveillance, etc. IR detectors have become an essential tool in making home security systems more accurate and reliable, as well as making homeowners feel safer while they are in and away from their homes.
Smart home devices and systems such as smart speakers, smart lighting, & smart security systems, often rely on IR detectors for presence detection, motion sensing, fire and smoke detection, temperature measurement and intrusion detection. Therefore, increasing product deployment in smart homes, ongoing concerns about better home security, rising automation of buildings and high adoption of people/object counting systems by end user consumers, will continue to boost the growth of global infrared detector market.
However, the market growth would be negatively impacted by various challenges such as high cost and stringent government restrictions, availability of alternative technologies etc. In most chemical and petrochemical plants, infrared detectors are increasingly used to detect or identify the gas leakage from the plant to the outer atmosphere or within the plant.
However, a catalytic detector is one of the major substitutes for infrared detectors for gas detection application and the major advantage of catalytic detectors over IR detectors is that they can easily identify hydrogen gas, which IR detectors cannot. Besides, catalytic detectors are simple to operate, easy to install, standardized, and have a long lifespan with less replacement cost. Therefore, availability of alternative technologies can impede the growth of global IR detector market.
The market is projected to grow at a fast pace during the forecasted period, due to various latest trends such as increasing integration of AI and ML, growing popularity of uncooled IR detectors, technological advancements in spectroscopy and biomedical imaging etc.
AI is increasingly being integrated into IR detectors for enhanced image processing, improved object detection & tracking in real-time, autonomous analyses of infrared data based on predefined rules or machine learning models, and assisting IR detectors in recognizing patterns and anomalies within infrared images, further enabling IR detectors to identify specific objects while reducing the burden on human operators, particularly in scenarios where large amounts of data are present.
Therefore, increasing integration of artificial intelligence (AI), machine learning (ML), and deep learning technologies will continue to boost the growth of global infrared detector market in the forecasted years.
Global infrared detector market is fragmented with increasing number of large and medium-sized players accounting for majority market revenue. Major companies in the market are engaged in strategic agreements & contacts, innovation, testing, and various other R&D activities & initiatives to develop and deploy new and more efficient products in the market and gain larger market share.
For instance, On January 19, 2023, Hamamatsu Photonics K.K., announced that the company has developed a new InAsSb photovoltaic detector (P16702-011MN) with preamp offering high sensitivity to mid-infrared light, up to 11 micrometers in wavelength.
- Increasing IoT Connectivity
- Growth in Number of Smart Homes and Buildings
- Rising Demand of IR Detectors in Various End User Industries
- Increasing Use of IR in Wearable Devices
- Increasing Focus on Improved Security and Surveillance
- High Cost and Stringent Government Restrictions
- Availability of Alternative Technologies
- Increasing Integration of AI and ML
- Growing Popularity of Uncooled IR Detectors
- Technological Advancements in Spectroscopy and Biomedical Imaging
The key players of the market are:
- Teledyne Technologies Incorporated (Teledyne FLIR LLC)
- Hamamatsu Photonics K.K.
- Murata Manufacturing Co., Ltd.
- Texas Instruments Incorporated.
- OMRON Corporation
- TE Connectivity Ltd.
- Honeywell International Inc.
- Raytheon Technologies Corporation
- Excelitas Technologies Corp.
- Nippon Ceramic Co., Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/cxihhm
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