Infrared Detector Sales Are Projected To Increase At A CAGR Of 7.7% During 2021 - 2031

As per a recent published report by Fact.MR, a market research and competitive intelligence provider, the global infrared detector market enjoys a valuation of US$ 463 Mn, and is slated to expand at an impressive CAGR of 7.7% over the forecast period of 2021 to 2031. The market registered an annual growth of 5.4% during 2016-2020. Fact.MR anticipates significant potential in the market, due to increase in deployment of smart homes devices.
Infrared detectors are broadly chosen in security and defense applications due to their excellent capabilities on the battlefield, such as surveillance, accurate disposition of troops, target acquisition, etc. These factors are leading the market to grow 2.1X over the next ten years.

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Key Takeaways from Market Study

• Military application is likely to witness sales of US$ 150 Mn by 2031.
• Based on spectral range, mid-wave infrared detectors and long wave infrared detectors are anticipated to be the most lucrative segments with market share of 23.4% and 61.5%, respectively, by 2031.
• Based on region, demand for infrared detectors is expected to increase at CAGR of 3.9% and 6.6% in Latin America and North America, respectively, over the forecast period.
• Together, North America and Europe represent over 48% of overall market share.
• The market in Latin America is valued at US$ 26 Mn at present.

"Increasing adoption of burglar systems, security cameras, etc., in smart buildings, to accelerate unit sales of infrared detectors," says a Fact.MR analyst.

Country-wise Insights

What Makes the U.S. a Leading Market for Infrared Detectors?

The U.S. market is likely to witness remarkable growth at 6.6% CAGR through 2031. Some of the major applications that are expected propel the U.S. infrared detector market are industrial, military, and defense, and commercial.
The U.S. is observing growing demand for short wave infrared detectors, particularly in short wave infrared cameras for scientific research, leading to increasing market share of 85% by 2031 in the North American market.

Key Market Segments Covered in Infrared Detector Industry Research

By Spectral Range
• Short Wave Infrared Detectors
• Mid-Wave Infrared Detectors
• Long Wave Infrared Detectors

By Technology
• Mercury Cadmium Telluride
• Indium Gallium Arsenide
• Pyroelectric
• Thermopile
• Micro Bolometers
• Others

By Application
• Infrared Detectors for Automotive
• Infrared Detectors for Consumer Electronics
• Infrared Detectors for Medical
• Infrared Detectors for Military
• Infrared Detectors for Security

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Category-wise Insights

Will Growing Adoption of Infrared Detectors in Motion Devices Pave the Way for Market Expansion?

Demand for people sensing and motion devices is on the rise. High adoption of object/people counting systems and rising automation of buildings are some of the significant factors that have led to growth in demand for these infrared detector alarms and systems.
Features such as non-contact detection and the ability to detect motion in both, the absence and presence of light, have led to high adoption of infrared sensing technology for people sensing and motion applications, as far as infrared detection systems are concerned.
Infrared detector shipments are likely to grow 2.1X at a CAGR of 7.7% through 2031 Infrared detectors are also used in several detection applications such as safety lighting, burglar alarms, garage doors, security cameras, motion-activated security cameras, and people counting systems. Moreover, in robotics, infrared detectors are used to measure distance and traction at a high rate, as they are used to sense the motion of IR emitting bodies.

Competitive Landscape

According to the infrared detector industry analysis, IR detector manufacturers and suppliers have focused on expansion, investments, acquisitions, delivery, portfolio expansion, and brand development.
Some of the key developments are:
• In 2021, Lynred launched new miniature type of infrared detector named Galatea MW, having the features of SWAP (Size, Weight, and Power). This newly launched product is compatible with existing optics and easy to integrate in military applications.
Similarly, recent developments by top providers of infrared detectors have been tracked by the team at Fact.MR, which are available in the detailed report.

Report Summary

The study offers comprehensive analysis on diverse features, including revenue growth, product enhancements, and revenue generation from infrared detectors across the globe.
A comprehensive estimate on the market has been provided through an optimistic scenario as well as a conservative scenario, taking into account revenue through infrared detectors during the forecast period.

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This release was published on openPR.