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Infrared Detector Market is Expected to Reach USD 766 million in 2029, and Growing at a CAGR of 6.3% | Report Share, Size & Global Forecast
Infrared Detector Market
Infrared Detector Market Reached USD 470 million in 2021, and prediction to touch USD 766 million in 2029, and will Grow at a CAGR 6.3% from 2021-2029.
For More Info, Click to Access Complete Report - https://www.gmiresearch.com/report/infrared-detector-market-analysis-industry-research/
The factors driving the growth of Infrared Detector Market includes increasing application of Infrared detectors in the end-use industries such as Automotive, Medical and Aerospace, growing demand for home security systems and rising installation of IR detectors in retail shops and museums around the world. According to the report published by Statista, the Global Home Security Market was calculated around USD 2.69 billion in 2021 and is predicted to reach more than USD 5 billion by the end of 2025, which will accelerate the Infrared Detector Market size in the approaching years. Moreover, the increasing penetration of smartphones, technological advancements in the infrared detectors, rise in the launch of innovative products and growing popularity of driverless cars, are some of the additional factors supplementing the Infrared Detector Market share. In addition, the increasing investments by leading players on research and development, rising disposable incomes and rapid urbanization, are further contributing to the market growth.
However, the growth of Infrared Detector Market is hindered due to strict regulations regarding the export and import of cameras.
The leading players operating in the market are Murata Manufacturing Co., Ltd., OMRON Corporation, Texas Instruments Incorporated, Excelitas Technologies Corp., Hamamatsu Photonics, NICERA, Lynred, InfraTec GmbH, FLIR Systems, Inc., and TE Connectivity, among others.
Based on Application, the People & Motion Sensing segment is predicted to expand at a significant CAGR during the forecast period
Increasing deployment of people and motion sensing devices at malls, airports, and museums, are propelling the growth of the segment.
Based on Spectral Range, the Long-Wave IR segment is projected to grow at a remarkable CAGR over the forecast period
Long-Wave IR devices are comparatively cheaper than the Short-Wave IR devices along with increasing demand for IR devices by the defense forces, are some of the key factors responsible for the segment's growth.
Based on Region, the North American region is anticipated to capture a sizeable market share during the forecast period
Rise in Government's expenditure on the defense sector, presence of the leading players such as Honeywell International (US) and Texas Instruments (US), growing demand for smart home devices, increasing population growth rates and high per capita incomes, are some of the important factors augmenting the market growth in North America.
Key Developments
In 2020, Excelitas Technologies Corp launched 4.1 of the Infrared Sensing Solutions Catalog, which can be used for motion detection, temperature measurement, and gas detection.
In September 2019, Lynred and ADE Technology Inc. partnered on 80x80 infrared detectors and planning to use it healthcare markets.
Market Segmentation
Global Infrared Detector Market by Type
Thermal Detector
Photo Detector
Global Infrared Detector Market by Spectral Range
Short-Wave IR
Medium-Wave IR
Long-Wave IR
Global Infrared Detector Market by Application
People & Motion Sensing
Temperature Management
Security & Surveillance
Gas & Fire Detection
Spectroscopy & Biomedical Imaging
Scientific Applications
Global Infrared Detector Market by End-Use Industry
Aerospace & Defense
Industrial
Medical
Automotive
Security
Consumer Electronics
Global Infrared Detector Market by Region
Asia Pacific
China
Japan
India
Rest of APAC
North America
United States of America
Canada
Europe
United Kingdom
Germany
France
Spain
Rest of Europe
RoW
Brazil
South Africa
Saudi Arabia
UAE
About GMI Research
GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.
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