Home / Press Release / Global Infrared Detectors Market to Expand at a 8.7% CAGR between 2019 and 2027

Global Infrared Detectors Market to Expand at a 8.7% CAGR between 2019 and 2027

According to a new market research report published by Credence Research, “Infrared Detectors Market (by Functionality (Photon Detectors, Thermal Detectors and Radiation Field Detectors), by Technology (Cooled IR Detectors and Uncooled IR Detectors), by wavelength (Short Wave, Medium Wave and Long Wave), by End-use Vertical (Aerospace & Defense, Healthcare, Automotive, Manufacturing, Commercial Application and Others (Government, Consumer Electronics, etc.)), and by Geography (North America, Europe, Asia Pacific, and Rest of the World)) - Growth, Future Prospects, and Competitive Landscape, 2019 -2027”, the global infrared detectors market is expected to expand at a CAGR of 8.7% during the forecast period from 2019 to 2027.

Market Insights

Imminent need for low cost, high resolution (using pixels) and multispectral imaging for applications such as public safety and transportation, defense and others is continuously driving infrared detectors market growth. Techniques such as micro-fabrication and micro-machining have aided the industry to reduce the cost, size and power consumption of detectors. Furthermore, the combination of factors including the rapidly anticipated adoption of 5G technology, IoT technology and increasing advances in wireless communication technology are other prominent factors fuelling the market growth. However, availability of substitute products for infrared (such as catalytic gas detector) and capital intensive technology and its deployment are factors that are posing challenges towards the growth of the infrared detectors market. 

Based on functionality, it is estimated that thermal infrared detectors shall register significantly higher market growth during the forecast period. These detectors are used in ‘thermal imaging’ which requires a wave of 6-15 µm. Thermal imaging technique has widespread applications in areas such as military and defense, automotive, and consumer electronics among others and is gaining popularity worldwide. Thus bolstering the growth of thermal infrared detectors. On the other hand, photon infrared detectors are favored by photon imaging which requires lower operating temperatures. The photon infrared detector is widely used and is expected to remain dominant throughout the forecast period. 

Based on geography, North America is to dominate the infrared detectors market during the forecast period 2019-2027. This is due to the greater utilization of infrared detectors, coupled with presence of large number of manufacturers and huge demand for security applications in offices, hotels and airports among others in this region as compared to other regions. North America is trailed by Asia Pacific. This is due to rapid adoption of IR technologies and increased demand from end-use industry verticals such as consumer electronics, military and defense, and automotive among others. Additionally, Japan is one of the largest manufacturing region of infrared detectors, which are exported worldwide. Thus, propelling the infrared detectors market growth.

Browse the full report at https://www.credenceresearch.com/report/infrared-detectors-market

The Global Infrared Detectors Market is Segmented into:

ATTRIBUTE DETAILS
Research Period  2017-2027
Base Year 2018
Forecast Period  2019-2027
Historical Year  2017
Unit  USD Billion
Segmentation

 By Functionality Segment (2017–2027; US$ Bn)

 By Technology Segment (2017–2027; US$ Bn)

 By Wavelength Segment (2017–2027; US$ Bn)

 By End-use vertical Segment (2017–2027; US$ Bn)

 By Geography Segment (2017–2027; US$ Bn)

*Complete segmentation list is on report page

The major market players include Wuhan Guide Infrared Co. Ltd., Honeywell International Inc., Nippon Avionics Co. Ltd, Excelitas Technologies Corp., L-3 Technologies Inc., Infrared Integrated Systems Ltd., General Dynamics Corporation, Texas Instruments Inc., Omron Corporation, Hamamatsu Photonic K.K., Murata Manufacturing Co., Ltd., FLIR Systems Inc., Raytheon Company, and Sofradir. Due to presence of several major companies the market appears to be fragmented and the competition is quite intense.

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