Infrared Sensor Market (2020 - 2025)
The global infrared market in 2019 is $391.6M in 2019 and is estimated to grow at a CAGR 15.1% during the forecast period 2020-2025. The photo diode market holds the largest market share and generated highest revenue of 98.4M and is estimated to grow at CAGR of 10%. Increasing demand for home automation products, growth of process automation industry and the increasing usage in wireless communication are the key growth factors for IR sensors.
What is infrared sensor?
An infrared sensor is an electronic instrument which is used to sense certain characteristics of its surroundings by either emitting and/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 which can detect and produce light in the IR wavelength range. IR sensors have IR light source, medium, optical components and the IR detector. The medium can be a vacuum in case of thermal imaging systems or can be atmosphere
What are the major applications for Infrared sensor?
Infrared sensors have various end use applications which include night vision systems, temperature control, climate control, pedestrian detection, fall detection, pressure monitor, computers, gaming devices, cellphones, LIDAR, home appliances, blood glucose monitor, toys, optical power monitors, security devices, home appliances, gas & fire detection systems, spectrometers, thermal imaging etc. infrared sensors are also used in machine vision based products for monitoring assembly line and other automation purposes.
Market Research and Market Trends of Infrared sensor
New infrared sensors are revolutionizing AR glasses, phone cameras and driverless cars with this infrared sensors are enabling to see through smoke or fog, making autonomous vehicles cheaper and also creating night goggles for augmented reality.
Si-ware systems a leading player in the industry has developed a small near infrared spectral sensor which is small in size and can be built into a smartphone. This sensor has many industrial and consumer applications. It can further be used in evaluating the health of soils, in food safety and analysis, oil and gas composition, as well as determine the purity of pharmaceutical drugs. Currently, it's been tested in healthcare, agriculture and petrochemical industries and hence this would drive the market.
Advanced digital infrared sensors in high speed cameras is used for vegetation-scanning from space to spot changes in human skin cells to help diagnose skin diseases. Also, it is used to map land cover and vegetation growth every two-days. Furthermore, these sensors can also be used for non-space applications.
Recently, researchers and the Defense Advanced Research Projects Agency announced that they have developed an infrared sensor that runs on essentially zero power. This incredible feat of nanotechnology innovation has the potential for much grander impact than anything that has been seen before.
Who are the Major Players in Infrared sensor market?
The companies referred in the market research report includes Exelitas, Murata manufacturing, Nicera, FLIR, ULIS, Melexis, Raytheon, Texas instruments, Omron corporation, Sofradir.
What is our report scope?
The report incorporates in-depth assessment of the competitive landscape, product market sizing, product benchmarking, market trends, product developments, financial analysis, strategic analysis and so on to gauge the impact forces and potential opportunities of the market. Apart from this the report also includes a study of major developments in the market such as product launches, agreements, acquisitions, collaborations, mergers and so on to comprehend the prevailing market dynamics at present and its impact during the forecast period 2020-2025.
Key Takeaways: from this Report:
Evaluate market potential through analyzing growth rates (CAGR %), Volume (Units) and Value ($M) data given at country level - for product types, end use applications and by different industry verticals.
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Get a quick outlook on the market entropy - M&A's, deals, partnerships, product launches of all key players for the past 4 years.
Evaluate the supply-demand gaps, import-export statistics and regulatory landscape for more than top 20 countries globally for the market.