Market Synopsis
As per the analysis by Market Research Future Reports (MRFR), the global infrared sensor market is estimated to expand from USD 387.4 million in 2018 to USD 747 million by 2025 at a CAGR of 10% during the review period. The increasing need for automation equipment for constructing automation is propelling the expansion of the global infrared sensor market 2020. Due to the low requirement, infrared sensors have several applications such as PDAs, laptops, and telephones. Moreover, the development in wireless communication and the growing adoption of 5G technology is estimated to propel the market in the forthcoming period. Also, due to the increasing investment in the research and development for implementing infrared cameras in automobiles is estimated to increase the growth of the market. However, these sensors are generally affected by environmental circumstances such as pollution, rain, fog, and dust, which brings a negative impact on the expansion of the market.
An infrared sensor is electronic equipment that has possessed the ability to sense certain aspects of its surroundings. It has the ability to measure the heat of an object. Apart from this, it can also identify the motion by either emitting or identifying infrared radiation. Infrared sensors have applications majorly in night vision equipment, infrared tracking, infrared astronomy, and hyperspectral imaging and a few more.
Market Segmentation
The global infrared sensor market has been segregated on the basis of working mechanism, detection, type, spectrum range, end-user, and region.
On the basis of the working mechanism, the market has been divided into passive and active.
On the basis of detection, the market has been segmented into cooled infrared sensors and uncooled infrared sensors.
On the basis of type, the market has been segmented into quantum infrared sensors, and thermal infrared sensors.
On the basis of the spectrum range, the market has been segmented into long-wave (LWIR), mid-wave IR (MWIR) and short-wave IR (SWIR).
On the basis of end-user, the market has been classified into oil and gas, healthcare, aerospace and defense, manufacturing, automotive, commercial, and others.
On the basis of region, the market has been segmented into North America, Asia-Pacific, Europe, the Middle East, and Africa and Central and South America.
Regional Analysis
The regional analysis has been performed for Europe, North America, Asia-Pacific, the Middle East, and Africa and Central and South America.
As per the regional analysis, the infrared sensor market is flourishing at the fastest pace in the APAC region. The Asia Pacific region is leading the market due to the rising adoption of the Internet of Things (IoT), smart building projects, and increasing smart home. Additionally, the increasing choice od consumers toward better energy management is affecting the growth of the infrared sensor market.
The North American market is estimated to the fastest expanding regional market during the review period due to the rising adoption of autonomous electric automobiles and autonomous cars.
The market in the Middle East and Africa is estimated to exhibit considerable expansion during the review period.
Key Players
The forefront competitors in the Infrared Sensor Market are Honeywell International Inc. (US), Murata Manufacturing Co., Ltd (Japan), Sofradir (France), Raytheon Company (US), Teledyne Technologies (US), Texas Instruments Incorporated (US), Omron Corporation (Japan), Hamamatsu Photonics KK (Japan), Nippon Avionics (Japan), Nippon Ceramic Co. Ltd (Japan), Excelitas Technologies Corp. (US), Dali Technology (China), Omron Corporation (Japan), Qioptiq Ltd (UK), Pelco (US), Wuhan Guide Infrared Co., Ltd (China), L-3 Communications Holdings, Inc. (the US), Fluke Corporation (US), General Dynamics Corporation (US), FLIR Systems, Inc. (US), DRS Technologies, Inc. (US), E.D. Bullard Company (US), Axis Communications AB (Sweden), and Bosch Security Systems (US).
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Source- Market Research Future