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Infrared Sensor Market: Rising Security Concerns to Fuel Uptake of Infrared Sensors

11-22-2017 12:43 PM CET | Advertising, Media Consulting, Marketing Research

Press release from: Transparency Market Research

/ PR Agency: Transparency Market Research
The significant rise in security concerns among consumers and the growing demand for consumer electronics products is impacting the global market for infrared sensors greatly. The massive demand for security at commercial places, such as offices, hospitals, and hotels is likely to push the growth of this market upward in the next few years.

Apart from this, the decline in the retail prices of these sensors is also estimated to bolster the demand for infrared sensors remarkably over the next few years. The rising trend of automation across end users, such as the semiconductor and electronics, aerospace and defense, and the medical and healthcare industries is another important factor that is expected to boost the growth of the infrared sensor market, globally, in the years to come.

The global market for infrared sensors stood at US$238.8 mn in 2015. Rising at a healthy CAGR of 12.80% from 2015 to 2024, the opportunity in this market is likely to touch US$692.8 mn by the end of 2024.

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North America to Continue Leading Global Infrared Market

On the basis of the geography, the worldwide market infrared sensors has been categorized into North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa. North America and Europe, amongst these, have emerged as the leading regional markets for infrared sensors, accounting for a collective share of more than 55% in the overall market in 2015.

The Europe market for infrared sensors is highly driven by the growing demand for these sensors in the U.K, Germany, France, Russia, Italy and the Rest of Europe. The high demand for motion sensing and the increasing usage of infrared sensors in unmanned aerial vehicles and drones are expected to propel this regional market substantially over the coming years.

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Aerospace and Defense Sector to Report Higher Demand Rate

The consumer electronics, aerospace and defense, oil and gas, chemical, mining, and the pharmaceuticals sectors have surfaced as the prime end user of infrared sensors across the world. Among these, the oil and gas and the consumer electronics sectors have been registering a significantly greater demand for infrared sensors than other end users. However, the aerospace and defense sector is anticipated to report a higher demand rate in the years to come.

Honeywell International Inc., Texas Instrument, FLIR Systems, Infratec GmbH, Teledyne, Excelitas Technologies, Murata Manufacturing, Hamamatsu Photonics, Raytheon, and Nippon Avionics are some of the key vendors of infrared sensors across the world.

About Us

Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. We have an experienced team of Analysts, Researchers, and Consultants, who us e proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.

Each TMR Syndicated Research report covers a different sector – such as pharmaceuticals, chemical, energy, food & beverages, semiconductors, med-devices, consumer goods and technology. These reports provide in-depth analysis and deep segmentation to possible micro levels. With wider scope and stratified research methodology, our syndicated reports thrive to provide clients to serve their overall research requirement.

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