Infrared Sensors Market Size, Competitive Landscape and Market Forecast - 2029

SKU: DM1916 | Last Updated On: Jul 18 2022 | Available Formats

> Global Infrared Sensors Market Expected to reach a high CAGR of 7.1% By 2029: DataM Intelligence

Global Infrared Sensors Market is segmented By Spectrum ranges (Long Wave, Short Wave, Mid Wave), By Working Mechanism (Active, Passive), By End-User Industry (Market Size Analysis, Market Size Analysis, Aerospace and Defense, Automotive, Commercial Applications, Manufacturing, Oil and Gas, Others)), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2022-2029

 

Market Overview

The global "Infrared Sensors Market" is expected to grow at a CAGR of 7.1% during the forecasting period (2022-2029).

Due to the growing demand for autonomous automobiles all around the world, it will grow the market for Infrared sensors in the forecast period.

An infrared sensor is an electronic instrument that is used to sense certain characteristics of its surroundings by either emitting or detecting infrared radiation. Infrared sensors are also capable of measuring the heat being emitted by an object and detecting motion. Infrared sensors are components that can detect and produce light in the IR wavelength range. IR sensors have an IR light source, medium, optical components, and the IR detector.

The report covers all the major trends and drivers playing a key role in the growth of the Infrared Sensors market. The infrared Sensors market is segmented by Spectrum range, Working Mechanism, End-User Industry, and Region.

Market Dynamics

The global Infrared Sensors are primarily driven by the growth in the autonomous automobile industry all around the world. With the rise in the demand for an electric vehicles, the production of the EV has grown widely across all the major countries. Also, the rising connectivity in this connected world due to the popularity of autonomous automobiles, with the use of sensors in the car for temperature monitoring, and requirement in autonomous vehicles will grow the market for infrared sensors in the forecast period.

Security systems rely on smart sensors technologies and hence have become an essential part of military systems. The rise in military budgets all around the world is expected to grow the market for infrared sensors for the forecast period. For instance, according to the Stockholm International Peace Research Institute (SIPRI), total world military expenditure rose to $1,822 billion in 2018, representing an increase of 2.6 percent from 2017.  The five biggest spenders in 2018 were the United States, China, Saudi Arabia, India, and France, which together accounted for 60% of global military spending.

However, the high cost of technology and various regulations by governments are some factors that will be hampering the growth of Infrared Sensors in the forecast period.

Segment Analysis

By the Spectrum range, the global Infrared Sensors market is segmented into Longwave, shortwave, and midwave. Longwave Infrared Sensors have the dominant position in the Infrared Sensors market and is expected to retain its dominance in the forecasted period as they have wide application in the military and civil application. Rising demand for infrared sensors in defense applications and motion sensing has acquired the largest market share for North America followed by Europe. It is expected that the Longwave infrared Sensor market will grow at a CAGR of ~XX% during the forecast period.

By Working Mechanism, the global Infrared Sensors market is segmented into Active, and Passive. Passive infrared sensors have a dominant position in the Infrared Sensors market. Although with the wide application of active infrared sensors in home automation is expected to grow the infrared sensors market with higher CAGR in the forecast period.

Geographical Analysis

By geography, the global Infrared Sensors market is segmented into North America, Asia-Pacific (APAC), Europe, South America, and the Middle East and Africa (MEA).

APAC holds the largest market share for Infrared Sensors due to the high demand for various infrared Sensors in countries like India and China because of the rise in the automotive industry. Moreover, the high demand for electronics like mobile, tablets, and others is also driving the market for the region. And hence there is a rise in the production of electronics in countries like India. For instance, according to the Indian Cellular Association (ICA), the annual production of mobile phones within the country has increased from 3 million devices in 2014 to 11 million devices in 2017. India now accounts for 11 percent of global mobile production, which was only 3 percent in 2014.

North America is after APAC in terms of the market share of Infrared Sensors the rise of Oil & gas exploration in the region will be the major driver for the infrared sensors market in the forecast period. For instance, Annual U.S. crude oil production reached a record level of 10.96 million barrels per day (b/d) in 2018, 1.6 million b/d (17%) higher than 2017 levels. In December 2018, monthly U.S. crude oil production reached 11.96 million b/d, the highest monthly level of crude oil production in U.S. history. U.S. crude oil production has increased significantly over the past ten years, driven mainly by production from tight rock formations using horizontal drilling and hydraulic fracturing.

Competitive Analysis

Key players are adopting strategies such as investing in R&D, new product launches, expansion in Technology to stand out as strong competitors in the market. Global Infrared Sensors is a competitive market with the presence of various global and regional players in the market. The major players are Excelitas Technologies Corp., Texas Instruments Inc., FLIR Systems Inc., Raytheon Co., and Omron Corporation. Other key players in the market include Hamamatsu Photonics KK, ULIS and Murata Manufacturing Co. Ltd., Wuhan Guide Infrared Co. Ltd, Nippon Avionics Co. Ltd, and Teledyne Technologies Inc.

In February 2019, Melexis announces a new version of its popular far-infrared (FIR) thermal sensor array. The new device has lower thermal noise compared to the current MLX90640, an increased refresh rate of 64 Hz and an elevated operating temperature up to 125 °C.

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