Infrared Detector Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032
Growth Factors of Infrared Detector Market
The infrared detector market size was valued at USD 516.2 million in 2022, and the market is now projected to grow from USD 542.0 million in 2023 to USD 867.9 million by 2030, exhibiting a CAGR of 7% during the forecast period of 2023-2030.
The COVID-19 pandemic had a complicated impact on the IR detector market. In the early stages, the market faced disturbances in its supply chains, trade processes, and logistics, leading to interruptions and scarcities. Many firms struggled to preserve regular procedures due to lockdowns, restraints, and workers challenges.
The growing demand for boosted security measures across varied sectors is a pivotal motivating factor for the IR detector market. IR detectors play a vital role in meeting the necessities of security and investigation applications. In security and investigation circumstances, where constant monitoring is vital, these detectors allow night vision abilities, certifying continuous surveillance irrespective of ambient lighting. Additionally, they are also used for fire detection and prevention. Thus, the increasing demand for robust security and surveillance solutions is motivating the infrared detector market growth.
A prominent trend determining the IR detector market is the growing prominence on miniaturization and incorporation. This planned change comprises making IR detectors more condensed, lightweight, and flexible for seamless incorporation into a varied array of devices and systems. Miniaturization of these sensors is boosted by progressions in manufacturing processes, resources, and sensor technologies. These improvements are jointly contributing to the formation of lesser yet further effective IR detectors, enabling improved compactness and adaptability.
Comprehensive Analysis of Infrared Detector Market
The market can be segmented in various ways, depending on the focus of analysis such as by type, and by application. Based on type, the market is segmented into thermal and photo detectors. Based on application, the market is segmented into motion sensing, temperature measurement, security & surveillance, fire detection, medical, and others.
North America region is dominating the infrared detector market share due to extensive implementation of IR technology across numerous industries, comprising security, defense, healthcare, and automotive.
The key players are enthusiastically contributing in planned events that are targeted at maintaining durable market position and growing market share by merger, partnerships and others. These players include Hamamatsu Photonics K.K. (Japan), Murata Manufacturing Co., Ltd. (Japan), Excelitas Technologies (U.S.), Texas Instruments Incorporated (U.S.), Teledyne Technologies (U.S.), InfraTec GmbH (Germany), Nippon Ceramic (Japan), Lynred (France), Wuhan Guide Infrared Co., Ltd. (China), Raytheon Technologies (U.S.) these market players spending severely on research and development in order to arise with more new technology so that they can maintain and improve their existing market.
In October 2020, Lynred, a manufacturer of progressive infrared technologies, team up with ADE Technology, a company that offers solutions in emerging visual technology, to improve new systems for emergent sectors, such as medical care.
Segmentation Table
ATTRIBUTE DETAILS
Study Period 2019-2030
Base Year 2022
Estimated Year 2023
Forecast Period 2023-2030
Historical Period 2019-2021
Growth Rate CAGR of 7% from 2023 to 2030
Unit Value (USD Million)
Segmentation By Type
Thermal
Photodetectors
By Application
Motion Sensing
Temperature Measurement
Security and Surveillance
Fire Detection
Medical
Others
By Region
North America (By Type, By Application and By Country)
U.S. (By Type)
Canada (By Type)
Mexico (By Type)
Europe (By Type, By Application and By Country)
U.K. (By Type)
Germany (By Type)
France (By Type)
Italy (By Type)
Spain (By Type)
Rest of Europe
Asia Pacific (By Type, By Application and By Country)
China (By Type)
India (By Type)
Japan (By Type)
South Korea (By Type)
Rest of Asia Pacific
Middle East & Africa (By Type, By Application and By Country)
GCC (By Type)
South Africa (By Type)
Rest of Middle East & Africa
South America (By Type, By Application and By Country)
Brazil (By Type)
Argentina (By Type)
Rest of South America
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