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Infrared Camera Market to Show Huge Opportunity for Investors as Industry Grows at Alarming CAGR of 8.7% form 2020-2026

Infrared Camera Market by Technology (Cooled IR Camera and Uncooled IR Camera), and End Use (Defense & Military, Industrial, Commercial Surveillance, Automotive, and Others): Global Opportunity Analysis and Industry Forecast, 2019–2026

Infrared Camera Market by Technology (Cooled IR Camera and Uncooled IR Camera), and End Use (Defense & Military, Industrial, Commercial Surveillance, Automotive, and Others): Global Opportunity Analysis and Industry Forecast, 2019–2026

Infrared Camera Market to Reach $1.37 Bn by 2026, Surge in end-use cases of security and surveillance drives the growth.

PORTLAND, OREGON, UNITED STATES, September 11, 2020 /EINPresswire.com/ -- Allied Market Research published a report, titled, "Infrared Camera Market by Technology (Cooled IR Camera and Uncooled IR Camera), and End Use (Defense & Military, Industrial, Commercial Surveillance, Automotive, and Others): Global Opportunity Analysis and Industry Forecast, 2019–2026."

The report has offered an all-inclusive analysis of the global Infrared Camera Market taking into consideration all the crucial aspects like growth factors, constraints, market developments, top investment pockets, future prospects, and trends.

According to the report, the global infrared camera industry garnered $744.8 million in 2019, and is estimated to generate $1.37 billion by 2026, witnessing a CAGR of 8.7% from 2020 to 2026.

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Drivers, restraints, and opportunities

Surge in end use cases of security and surveillance along with increase in adoption in quality control and inspection drive the growth of the global infrared camera market. However, high initial costs for acquisition and maintenance hinder market growth. On the other hand, surge in adoption for SWIR and rise in prominence in commercial end use cases create new opportunities for the next few years.

Key Players and Their Strategies:

The key players profiled in the infrared camera market include Leonardo DRS, Global Sensor Technology Co., ltd., Xenics, AIM Infrarot-Module GmbH, Lynred, FLIR System Inc., L3 Technologies, SemiConductor Devices, Boston Electronics Corporation, and Hamamatsu Photonics.

These key players adopt several strategies such as new product launch and development, acquisition, partnership and collaboration, and business expansion to increase the infrared camera market during the forecast period.

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The defense and military segment to maintain its dominance in terms of revenue by 2026

Based on end use, the defense and military segment contributed to the highest market share in 2019, contributing to more than one-fourth of the global infrared camera market, and is estimated to maintain its dominance in terms of revenue by 2026. This is due to surge in government initiatives for usage of infrared cameras in this sector for gaining superior visual range for identifying targets in different lighting and weather conditions. Moreover, the commercial surveillance segment is estimated to maintain the fastest CAGR of 12.6% during the forecast period, owing to surge in implementation in long range and mid-range surveillance.

The uncooled IR cameras segment to maintain its lead status throughout the forecast period

Based on technology, the uncooled IR cameras segment accounted for the largest market share in 2019, contributing to more than three-fifths of the global infrared camera market, and is expected to maintain its lead status throughout the forecast period. This is attributed to lesser expensive nature, fewer moving parts, and longer service life as compared to cooled alternatives. However, the cooled IR cameras segment is expected to grow at the highest CAGR of 10.6% from 2019 to 2026, owing to superior image quality provided by these cameras.

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Asia-Pacific to offer lucrative opportunities, North America to follow

Based on region, Asia-Pacific held the major market share, contributing to nearly one-fourth of the total market share of the global infrared camera market in 2019, and is estimated to continue to contribute its lion's share throughout the forecast period. Moreover, this region is expected to grow at a CAGR of 9.9% from 2020 to 2026. This is due to accessibility of high-end enhanced technologies and rise of manufacturing industries. North America held the second-highest share in terms of revenue in 2019 and will maintain its position by 2026.

Key Benefits for Stakeholders

This study includes the analytical depiction of the infrared camera market forecast along with the current trends and future estimations to determine the imminent investment pockets.

The report presents information regarding the key drivers, restraints, and opportunities in the Infrared Camera market.

The infrared camera market growth is quantitatively analyzed from 2019 to 2026 to highlight the financial competency of the industry.

Porter’s five forces analysis illustrates the potency of the buyers and suppliers in the industry.

Global Infrared Camera Market Segmentation

By Technology

Cooled IR Camera
Uncooled IR Camera

By End Use

Defense & Military
Industrial
Commercial Surveillance
Automotive
Others

By Region

North America
U.S.
Canada
Mexico

Europe

UK
Germany
France
Russia
Rest of Europe

Asia-Pacific

China
Japan
India
South Korea
Rest of Asia-Pacific

LAMEA

Latin America
Middle East
Africa

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