Infrared Detector Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

Posted May 5, 2021 by statzyreports

The infrared detector market is expected to register a cagr of 9.4% over the forecast period of (2021 - 2026).
The infrared detector market is expected to register a cagr of 9.4% over the forecast period of (2021 - 2026). The rising use of infrared detectors in industrial and manufacturing applications and an increase in the demand for consumer electronics, such as smartphones and tablets, are expected to aid the growth of the infrared detectors market.

- Infrared detectors are gaining momentum as a highly significant security apparatus in various applications, due to the quickly advancing technologies. They are used in industrial plants to monitor the efficient functioning of motors, boilers, electrical peripherals, and bearings.

- Emerging trends that are impacting the infrared detector market include an increase in the use of infrared detectors for smart homes, night vision, and surveillance.

- However, the high cost of technology and low reliability and usability in harsh environmental conditions are hampering the growth of the infrared detectors market.

Key Market Trends

People and Motion Sensing Application is Anticipated to Lead the Market

- The infrared detector is mainly used in the people and motion sensing applications and is anticipated to the lead the overall market during the forecast period. The increasing use of infrared detectors in places, such as retail shops, airports, homes, museums, and libraries for counting people and motion detection had contributed to its dominance in the market.

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- An increase in the deployment of smart homes devices may augment the need for infrared detectors. In homes, infrared detectors serve two primary purposes: intrusion detection and occupancy detection.
- Occupancy-related infrared detectors identify a person presence by detecting the minor human body motions entering and leaving any of small fields of view. Intrusion-related sensors help to ignore the minor action, like pet movements and non-moving objects of changing temperature. Intrusion detectors can distinguish pets from people by size, not only by relative IR signal strength.

- Thus, the positive impact of infrared detectors may be enormous. Smart home systems provide an ideal use case because they cannot function without smart sensors. Thus, the aforementioned factors are expected to aid the growth of the infrared detectors market.

Asia-Pacific is Expected to Witness the Highest Growth Rate

- The Asia-Pacific region is anticipated to witness the highest CAGR, of all the regions considered in the market studied, over the forecast period 2019-2024. The region is witnessing an increase in the demand for infrared detectors from the military and defense sectors and temperature measurement and industrial applications.
- Major countries contributing to the growth of infrared detector market in the region are Japan, China, India, and Taiwan. Additionally, Japan has a large manufacturing base of infrared detectors, which are exported worldwide.

- For instance, some of the major companies operating in the production of infrared detectors are Nicera (Japan) and Murata Manufacturing (Japan). The other driver fueling the growth of the market in the region is rising security concerns in the region.
- This reduction in the cost of the infrared detector is anticipated to expand the usage of IR detectors in many applications, such as biomedical imaging, spectroscopy, and automotive applications, in the region.

Competitive Landscape

The major players include Honeywell International Inc., Texas Instruments Inc., FLIR Systems Inc., Omron Corporation, Hamamatsu Photonics KK, Murata Manufacturing Co. Ltd, Raytheon Company, Sofradir SAS, among others. The market is fragmented due to the major competition in the market. Therefore, the market concentration will be low.

- May 2018 - Honeywell International Inc. launched a new connected portable infrared detector designed to keep the workers safe in dangerous confined spaces while featuring a simple and easy to use design.

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Tags covid19 impact , infrared detector market , infrared detector market forecast , infrared detector market share , infrared detector market size
Last Updated May 5, 2021