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Increasing utilization of infrared detectors for industrial and manufacturing applications is a key factor driving infrared detector market revenue growth

VANCOUVER, BC, CANADA, May 10, 2023 /EINPresswire.com/ -- The global infrared detector market size reached USD 441.48 Million in 2021 and is expected to register a revenue CAGR of 6.6% during the forecast period, according to latest analysis by Emergen Research. Rising demand for infrared detectors in various imaging application for industrial and manufacturing purposes, in addition to growing security and surveillance needs and increasing demand for motion and people sensing solutions owing to night vision functionality are some of the factors driving market revenue growth.

Increase in number of road accidents owing to poor visibility and lighting, as well as high demand for smart cars and increasing automotive manufacturing, in addition to cost-effective solutions for military applications are contributing significantly to revenue growth of the market. On 8 June 2022, the U.S. military ordered electro-optical commander’s viewer for Army Bradley armored combat vehicles targeting. The system utilizes forward looking infrared sensors to enable detection, identification and acquisition of targets at long range by vehicle’s commander and gunners. Officials of the U.S. Defense Logistics Agency Aviation segment at Redstone Arsenal, Ala., announced a USD 52 million order to Raytheon Intelligence & Space segment in McKinney, Texas, for Improved Bradley Acquisition System (IBAS) commander’ viewer unit. IBAS viewer is for Bradley armored combat vehicle and will provide target acquisition, engagement, tracking, and fire control for the Bradley vehicle’s Tube-launched, Optically tracked, Wire-guided (TOW) missile system as well as 25- and 7.65 millimeter weapon systems.

Increasing utilization of sensor technologies for exterior temperature measurement to improve patient comfort and develop better monitoring tools with more accuracy are supporting demand for infrared detectors in the medical sector. Data generated by such technology allows for early identification and prompt medical intervention for a variety of disorders, ranging from infections to hypothermia. Accurate non-contact temperature measurements such as forehead temperature, skin temperature, or ear temperature, as well as digital temperature sensors designed to monitor air temperature in respiratory devices, are some major factors driving demand for infrared detector solutions for medical applications. 

However, functions of infrared detection are hampered by dependence on line of sight, limited range, and sensitivity to climate and surrounding environmental factors. Furthermore, the high cost of technology and stringent norms governing import and export of optical devices are projected to constrain growth of market to some extent.

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Market Overview:

The report bifurcates the Infrared Detector market on the basis of different product types, applications, end-user industries, and key regions of the world where the market has already established its presence. The report accurately offers insights into the supply-demand ratio and production and consumption volume of each segment.

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Competitive Terrain:

The global Infrared Detector industry is highly consolidated owing to the presence of renowned companies operating across several international and local segments of the market. These players dominate the industry in terms of their strong geographical reach and a large number of production facilities. The companies are intensely competitive against one another and excel in their individual technological capabilities, as well as product development, innovation, and product pricing strategies.

Market Segmentations of the Infrared Detector Market

This market is segmented based on Types, Applications, and Regions. The growth of each segment provides accurate forecasts related to production and sales by Types and Applications, in terms of volume and value for the forecast period. This analysis can help readers looking to expand their business by targeting emerging and niche markets. Market share data is given on both global and regional levels. Regions covered in the report are North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Research analysts assess the market positions of the leading competitors and provide competitive analysis for each company. For this study, this report segments the global Infrared Detector market on the basis of product, application, and region:

Leading Market Players Profiled in the Report:

Texas Instruments Incorporated, Honeywell International Inc., Excelitas Technologies Corp., Murata Manufacturing Co., Ltd, OMRON Corporation, Nippon Ceramic Co., Ltd., Teledyne FLIR LLC, Raytheon Technologies Corporation, TE Connectivity, and Lynred

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Segments Covered in this report are:

Type Outlook (Revenue, USD Million; 2019-2030)

Photodetector

Thermal detector

Spectral Outlook (Revenue, USD Million; 2019-2030)

Long-wave IR

Medium-wave IR

Short-wave IR

Application Outlook (Revenue, USD Million; 2019-2030)

Industrial

Medical

Aerospace & defense

Automotive

Consumer electronics

Security

Others

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Regional Outlook:

North America (the U.S., Canada, Mexico)

Europe (the U.K., Germany, France, Italy)

Asia Pacific (India, China, Japan, Korea)

Latin America (Brazil, Argentina, Ecuador, Chile)

Middle East & Africa (Egypt, Turkey, Saudi Arabia, Iran)

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Research Report on the Infrared Detector Market Addresses the Following Key Questions:

Who are the dominant players of the Infrared Detector market?

Which regional market is anticipated to have a high growth rate over the projected period?

What consumer trends and demands are expected to influence the operations of the market players in the Infrared Detector market?

What are the key growth drivers and restraining factors of the Infrared Detector market?

What are the expansion plans and strategic investment plans undertaken by the players to gain a robust footing in the market?

What is the overall impact of the COVID-19 pandemic on the Infrared Detector market and its key segments?

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