Infrared Sensor Market is anticipated to grow further up to USD $9.6bn by 2031

Infrared Sensor Market is expected to reach $9.6bn by 2031 growing at a CAGR of 6.2% between 2021-2031.

New York, According to a new market research report published by Global Insight Services Infrared Sensor Market is expected to reach US$ XX bn by 2031. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.

An infrared sensor is an electronic equipment that emits and/or detects infrared radiation to sense particular features of its surroundings. Infrared sensors can also detect motion as well as measure the heat radiated by an object. Sensors that detect and emit light in the infrared region are known as infrared sensors. A light-emitting source, optical components, and a detector are the three main components of infrared sensors. The accuracy and lower power consumption of infrared sensors has prompted various end-user industries to implement them.

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COVID 19 IMPACT ANALYSIS:

COVID-19 has posed a significant challenge to national resources and the struggle to adapt to existing technologies while also deploying new, innovative ones. The production of electronic components was temporarily halted in reaction to the worldwide shutdown scenario, impacting the overall supply chain. Infrared sensors in thermal imaging, on the other hand, are in the spotlight because they are used to identify probable COVID-19 patients by detecting temperature differences in their bodies.

The epidemic has also increased the chance for new technology to enter the business. Thermal imaging screening systems, often known as FLIR systems, that use IR sensors to detect people with greater body temperatures at a faster rate have been used in numerous nations. These gadgets were also used in the airports to rapidly screen passengers with elevated body temperatures.

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Key Trends and Drivers:

Infrared sensors can be used in a wide range of end-use applications. Infrared gas analysis systems, flame detection, temperature management systems, and pressure control systems are just a few of the key end-user applications. Broad usage in multiple industries is one of key drivers of infrared sensors market.
Several advancements in the sector have reduced the size and power consumption of infrared sensors, which is fueling the industry's overall growth.
Rising demand for security devices facilitating thermal imaging to spot target or terror activities especially during night time, as well as increased adoption of autonomous vehicles integrated with IR sensors for use of night vision system among others, is another major factor driving infrared sensors market growth.
New infrared sensors are transforming AR glasses, phone cameras, and self-driving cars by allowing them to see through smoke or fog, lowering the cost of autonomous vehicles.

Key Players:

• Murata Manufacturing Inc.
• FLIR Systems
• Omron Corp.
• Texas Instruments
• Infrared Integrated Systems Ltd.
• Melexis NV
• Austria Micro Systems [AMS] AG
• Teledyne
• Honeywell International Inc.
• Intratec GmbH

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Reasons to buy Infrared Sensor Market Report:

• Develop comprehensive understanding of market landscape - industry structure, value-chain, key players, trends, drivers, and challenges
• Drive revenue and market-entry strategy by gaining insights into which segments and geographies are largest and likely to grow fastest
• Formulate sales and marketing strategies by gaining understanding of competitors, their positioning, and strengths & weaknesses
• Develop business and M&A strategies through understanding of latest trends and emerging players in the market
• Refine your business plans by understanding impact of disruptions such as Covid-19 and Russia-Ukraine conflict on the market

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