Infrared Detectors Market Predicted to grow at a CAGR of 9.1% By 2022 | Leading Market Players - are Texas Instruments Inc., Honeywell International Inc., Omron Corporation, Hamamatsu Photonic K.K., FLIR Systems Inc.
Infrared Detectors Market was valued at USD xx million in 2018 and is expected to reach almost USD 464 million by the end of 2022, growing at a CAGR of around 9.1% over the predicted period.
Infrared detectors are used to detect infrared radiation (IR) to measure heat and detect motion. It is integrated with different devices used in automobiles, surveillance, testing, detection, and measurement. Infrared detectors that convert infrared radiation into electrical signal are one of the most significant group of sensors in the defence system applications. These detectors play a major role in applications such as medical, automotive, industrial, security, and consumer electronics. They are highly effective compared to other detectors for safety and monitoring purposes due to their compact size and ability to detect infrared light from far distances.
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Infrared Detectors Market Key Drivers, Challenges, and Opportunities:
The infrared detector market is largely driven by product launch and acquisition. For instance, Honeywell International Inc. and Omron Corporation has acquired local infrared detector manufacturer companies to enhance their global outreach and increase their market share.
However, a few hindrances exist. IR’s are more expensive than other detectors as they require additional semiconductor components for increased sensitivity. Cooling techniques also increase their overall costs. In addition, the temperature change and extreme air turbulence may affect their performance. The environment needs to be clean, without dust, and less humid for more accurate results, thereby,leading to inaccuracy in many circumstances. However, increasing applications is expected to keep the market growing.
Thermal detectors have been considerably less exploited in commercial and military systems. Among various spectral ranges, the long-wave IR detectors dominated the global market due to their ability to sense thermal signs and provide excellent detection capability in low-light-level conditions. Infrared detectors are recognized for their compatibility in various applications. They are used for security and monitoring purposes, non-contact temperature sensing, infrared gas analysis, flame detection, temperature control systems, detection of human presence, and infrared spectroscopy. In addition, they are also used in several every day events and can be found in houses, cars, and shopping malls. Technological advancements in the infrared detector technology and decline in prices in future could provide potential growth opportunities for the market.
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Infrared Detectors Market – Regional Presence:
The market for infrared detectors in Asia Pacific is expected to grow faster during the forecast period due to strong government support and the huge consumer electronics industry. The widespread adoption of infrared detectors in the latest range of applications such as security, consumer electronics and smart homes has driven market growth. In addition, the presence of several key companies has catalyzed the market.
Some of the Key Players Profiled in this Infrared Detectors Market Report are:
The major market players 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, etc
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