The Global Infrared Detector Market was valued at USD 456.7 million in 2019 and is expected to garner USD 806.0 million by 2030, registering a CAGR of 5.3% during the forecast period 2020 – 2030.
Infrared detector is used to detect the presence of infrared radiations (IR). These are widely used in various applications such as aerospace applications, medical applications, night vision application, security, etc. due to its compact size and ability to detect infrared light from far distances. Infrared detectors convert the infrared radiation into electrical signal with the help of sensors. There are two major types of infrared detectors such as photo detector and thermal detector.
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Top Companies: 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, and Nippon Avionics
Market Dynamics and Trends:
Increased demand of consumer electronics, safety services at public places and wide application in various other end user industries are expected to be the major factors driving the growth of infrared detector market over the forecast period. Also, increased investment in defence, growing industrialization, and support from governments are further expected to promote the market growth.
However, infrared frequencies are affected by hard objects like walls and doors. Smoke, dust, fog and sunlight can also limit the effectiveness of these detectors and raises accuracy concerns, which acts as a barrier to the growth of infrared detector market. On the other hand, the aggressive R&D to develop infrared detectors with greater accuracy and high penetrating power, coupled with reduction in the prices and use of night vision ability for military applications are expected to create numerous opportunities in the market over the forecast period.
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Market Segmentations and Scope of the Study:
The global infrared market is segmented on the basis of type, spectral range, application and geography. On the basis of type, the market is classified into thermal detector and photo detector. By spectral range infrared detector market is sub divided into short-wave IR, medium-wave IR, and long-Wave IR. By applications the market is sub segmented into aerospace & defence, industrial, medical, automotive, security, and consumer electronics. Among various spectral range, globally, long-wave IR detectors dominates the market due to their ability to sense thermal signs and provide excellent detection capability in low-light conditions. Geographically, the infrared detector market is divided into North America, Europe, Asia-Pacific and RoW.
Asia-Pacific infrared detector market is expected to grow at the fastest CAGR during the forecast period owing to strong government support. Large scale adoption of the infrared detectors in consumer electronics, smart homes and other security applications has led to the market growth. Moreover, the presence of major players has catalysed this market growth. The developed regions such as North America and Europe are expected to witness steady growth in the coming years.
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