Infrared Imaging Market by Component (IR Detectors, IR Lens Systems, IR Sensors), Technology (Cooled, Uncooled), Type, Application - Global Forecast 2024-2030

Infrared Imaging Market by Component (IR Detectors, IR Lens Systems, IR Sensors), Technology (Cooled, Uncooled), Type, Application - Global Forecast 2024-2030

The Infrared Imaging Market size was estimated at USD 7.52 billion in 2023 and expected to reach USD 8.13 billion in 2024, at a CAGR 8.15% to reach USD 13.03 billion by 2030.

Infrared imaging is a non-contact technology that allows the visualization and measurement of radiated heat emitted by objects or living beings. The increasing demand for enhanced security systems and the rising government investment in defense capabilities to counter threats posed by terrorism and cross-border conflicts require sophisticated infrared imaging systems. Additionally, advancements in microbolometer technology have allowed for lower-cost uncooled infrared detectors, which involves a significant factor driving adoption across various industries. However, high initial costs associated with cooled detectors requiring extensive infrastructure investments may hinder the infrared imaging market growth. Nevertheless, rapid developments in nanotechnology provide immense potential for miniaturized sensors that cater to specific industry needs within healthcare diagnostics or wearable gadgets, which is expected to create lucrative opportunities for the infrared imaging market.

Regional Insights

America holds a substantial share due to the presence of numerous key players engaged in new innovations in infrared imaging technology. In addition, extensive investments made by the U.S. government in defense spending and homeland security support the market penetration of infrared imaging. APAC is expected to emerge as one of the rapidly growing markets for infrared imaging due to rapid industrialization. In addition, steady growth in automotive manufacturing activities across APAC countries has fueled demand for ADAS technologies that use infrared cameras. The EMEA region, especially European countries, has witnessed considerable growth in the infrared imaging market due to increasing adoption in various sectors such as industrial automation, automotive, and security & surveillance. Europe's focus on implementing Industry 4.0 has accelerated the demand for advanced inspection solutions and machine vision systems that utilize IR technology. Moreover, stringent regulations governing energy efficiency and safety standards have also contributed to the expansion of the market.

Market Insights

Market Dynamics

The market dynamics represent an ever-changing landscape of the Infrared Imaging Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

Market Drivers

Growing adoption in non-industrial vertical for security and surveillance
Surge in the utilization of uncooled infrared imagining solutions
Rise in patient inclination toward minimally invasive surgical procedures for diagnostics and treatment

Market Restraints

High cost involved in production of infrared imaging solutions

Market Opportunities

Recent advancements in the infrared (IR) imaging system design
Increasing government investment in defense capabilities

Market Challenges

Technical issues and operational limitations of infrared imaging

Market Segmentation Analysis

Components: Increasing preference for IR sensors due to their lower cost and versatility
Technology: Rising adoption of higher cooled infrared imaging due to their higher sensitivity and better image quality
Type: Proliferating use of fixed infrared imaging for continuous surveillance and real-time data analysis
Application: Emerging applications of infrared imaging in the medical sector

Market Disruption Analysis

Porter’s Five Forces Analysis
Value Chain & Critical Path Analysis
Pricing Analysis
Technology Analysis
Patent Analysis
Trade Analysis
Regulatory Framework Analysis

FPNV Positioning Matrix

The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Infrared Imaging Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Infrared Imaging Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Recent Developments

GSTiR Launches the Ultra Miniature Infrared Camera Core

GSTiR introduced the ultra-miniature iTL612R Pro infrared camera core, which signifies a significant advancement in imaging technology. This remarkable product boasts an impressive resolution of 640x512 pixels, ensuring exceptional clarity and detail in captured images. With such heightened resolution capabilities, users can detect even the most subtle temperature differences, making this camera suitable for various applications.

First Truly Wireless Mobile Infrared Camera Launched

Teledyne FLIR, a subsidiary of Teledyne Technologies Incorporated, unveiled the FLIR ONE Edge Pro, a wireless thermal-visible camera designed for mobile devices. This innovative device eliminates the need for a physical connection to a companion mobile device and is compatible with multiple operating systems, providing users with enhanced versatility. With the FLIR ONE Edge Pro, users can capture high-quality thermal images and videos, making it an ideal tool for professionals in fields such as infrared imaging.

SWIR Vision Announces New Products for Machine Vision Imaging and New Investment Partner

SWIR Vision Systems Inc. announced a significant breakthrough in the quantum dot-based short wavelength infrared (SWIR) machine vision camera inspection product for infrared imaging. This advancement represents a major milestone in the ongoing efforts to enhance the capabilities of our product and deliver exceptional performance to our customers.

Strategy Analysis & Recommendation

The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Infrared Imaging Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

Key Company Profiles

The report delves into recent significant developments in the Infrared Imaging Market, highlighting leading vendors and their innovative profiles. These include Allied Vision Technologies GmbH, Axis Communications AB, Episensors, Fluke Corporation, G5 Infrared, LLC, General Dynamics Mission Systems, Inc., GMS Instruments BV, InfraTec infrared LLC, IRay Technology Co., Ltd., L3Harris Technologies, Inc., Leonardo DRS, Inc., Lynred, Nippon Avionics Co.,Ltd., Opgal Optronics Industries Ltd., Ophir Optronics Solutions Ltd., Sensors Unlimited, Inc., Spectron IR, Teledyne FLIR LLC, Trinity Electronics Systems Ltd., Viper Imaging LLC, and Zhejiang Dali Technology Co., Ltd..

Market Segmentation & Coverage

This research report categorizes the Infrared Imaging Market to forecast the revenues and analyze trends in each of the following sub-markets:

Component
IR Detectors
IR Lens Systems
IR Sensors
Technology
Cooled
Uncooled
Type
Fixed
Portable
Application
Aerospace & Defense
Automotive
Consumer Electronics
Firefighting
Medical
Region
Americas
Argentina
Brazil
Canada
Mexico
United States
California
Florida
Illinois
New York
Ohio
Pennsylvania
Texas
Asia-Pacific
Australia
China
India
Indonesia
Japan
Malaysia
Philippines
Singapore
South Korea
Taiwan
Thailand
Vietnam
Europe, Middle East & Africa
Denmark
Egypt
Finland
France
Germany
Israel
Italy
Netherlands
Nigeria
Norway
Poland
Qatar
Russia
Saudi Arabia
South Africa
Spain
Sweden
Switzerland
Turkey
United Arab Emirates
United Kingdom

Please Note: PDF & Excel + Online Access - 1 Year