DUBLIN, Sept. 30, 2022 /PRNewswire/ -- The "Infrared Imaging Technology - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
The global market for Infrared Imaging Technology estimated at US$5.4 Billion in the year 2022, is projected to reach a revised size of US$7 Billion by 2026, growing at a CAGR of 6.3% over the analysis period.
Uncooled, one of the segments analyzed in the report, is projected to record 6.6% CAGR and reach US$4.9 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Cooled segment is readjusted to a revised 5.7% CAGR for the next 7-year period. By technology, uncooled segment is projected to dominate market growth, driven by robust demand for uncooled infrared imaging cameras in security and surveillance applications.
The low cost of manufacturing sensors for uncooled IR cameras as they require less expensive vacuum packaging is expected to boost demand for uncooled IR imaging products. Another advantage is that uncooled cameras have lower power consumption and fewer moving parts and therefore have much longer service lives and will work continuously for years without maintenance.
The U.S. Market is Estimated at $2.4 Billion in 2022, While China is Forecast to Reach $603 Million by 2026
The Infrared Imaging Technology market in the U.S. is estimated at US$2.4 Billion in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$603 Million by the year 2026 trailing a CAGR of 7.7% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 5.6% and 5.9% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 6.1% CAGR.
The market is forecast to witness robust growth opportunities driven by growing demand from non-industrial sector, growing adoption in new end-use applications, technological advancements in IR imaging technology, rising adoption in security and surveillance applications, increasing availability of reasonably priced infrared cameras.
Furthermore, rising demand for infrared imaging cameras in emerging economies and high penetration of SWIR cameras is poised to open up new avenues of growth in the upcoming years. The increasing use of IR cameras in quality control and inspections and steady uptake in consumer electronic market also presents untapped growth opportunities. IR imaging can be used as both a predictive and preventive tool, which makes it highly diverse.
However, high cost of infrared imaging systems in comparison with substitute technologies, strict import and export regulations, and lack of awareness about the technology hamper market prospects. SWIR cameras are expensive owing to the use of expensive semiconductor material such as indium gallium arsenide (InGaAs) sensors in their formulation.
By Application, Security & Surveillance Segment to Reach $4.1 Billion by 2026
Global market for Security & Surveillance by Application segment is estimated at US$3.2 Billion in 2022, and is projected to reach US$4.1 Billion by 2026 reflecting a compounded annual growth rate of 6.1% over the analysis period. The United States constitutes the largest regional market for Security & Surveillance segment, accounting for 42.8% of the global sales. China is poised to register the fastest compounded annual growth rate of 7.6% over the analysis period, to reach US$417.6 Million by the close of the analysis period.
Select Competitors (Total 55 Featured):
Allied Vision Technologies GmbH
Axis Communications AB
Bosch Security Systems, Inc.
FLIR Systems, Inc.
General Dynamics Mission Systems, Inc.
Hanwha Techwin Co., Ltd.
L3Harris Technologies, Inc.
New Imaging Technologies
Opgal Optronic Industries
Sensors Unlimited, Inc.
Zhejiang Dali Technology Co., Ltd
Key Topics Covered:
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
Influencer Market Insights
Impact of COVID-19 Pandemic and Looming Economic Recession
COVID-19 Impact on Infrared Imaging Technology
Thermal Imaging as Promising Fever Screening Method to Dodge COVID-19 Storm
Caveats Regarding Use of Infrared/Thermal Imaging for Fever Detection
Vendors Highlight Thermal Imaging Systems to Deal with COVID-19 Challenge
Organizations Rise Up with Thermal Imaging to Reopen & Ensure Business Continuity
Once a Niche Market, Infrared Cameras Enjoy Rising Demand amid COVID-19
Regulatory Response to Potential 'Virus Spotters'
Pandemic Crisis Weakens Economic Environment, Triggering Negative Tide in GDP
World Economic Growth Projections (Real GDP, Annual % Change) for 2019, 2020 & 2021
An Introduction to Infrared Imaging Technology
Uncooled & Cooled Infrared Imaging
Global Market Prospects & Outlook
Uncooled Segment Leads Global Market
Security & Surveillance Emerges as the Key Application Segment
China & Asia-Pacific to Boost Market Growth
Recent Market Activity
Infrared Imaging Technology - Global Key Competitors Percentage Market Share in 2022 (E)
Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
Rising Significance of IR Technology in Industrial Imaging Applications
Growing Prominence of Infrared Cameras in Inspection & Quality Control Applications
Fast Evolving Role of Industry 4.0 & Smart Factory to Steer Future Expansion
Major Industry 4.0 Technologies: Global Market Size (US$ Billion) for Internet of Things (IoT), Big Data, Smart Factory, Advanced Analytics, Service Robotics, and Smart Machines for 2020
Thermal Imagers for Remote Temperature Measurement
Rising Demand for Infrared Imaging Products from Non-Industrial Sectors
Sustained Demand for Infrared Imaging Technology in Military Applications
With Defense Budgets Coming Under Intense Pressure, IR Imaging Market Witnesses Challenging Times
Defense Expenditure Worldwide in US$ Billion for the Years 2001 through 2019
Leading Countries Ranked by Defense Budgets in US$ Billion for 2019
Reprioritizing of Budgets Impacts Defense Spending, Affecting IR Imaging Market
Japan Defense Budget: A Pre & Post COVID-19 Comparison (In US$ Billion) for 2021-2023
UK Defense Budget: A Pre & Post COVID-19 Comparison (In US$ Billion) for 2021-2023
Increase in Territorial Conflicts and Border Disputes Drive Focus onto Better Surveillance & Target Identification
Number of Terrorist Incidents and Terrorism-related Deaths Worldwide: 2011-2018
Focus on Soldier Modernization Programs Spurs Market Growth
Soldier Modernization Initiatives Fuel Demand for Advanced IR Imaging Systems: Global Soldier Modernization Market Size (in US$ Billion) for 2018, 2021, 2024 & 2027
Improving Target Identification, Threat Assessment and Monitoring: Essential Capabilities of IR Imaging Systems
US Companies Offer Support to US Air Force for EO/RF-Related Technology Development
Imaging Infrared Technology Finds Favor in IR Missile Guidance
Thermal Cameras: An Important System for Securing Borders
Infrared and Thermal Cameras Find Use in ISR Operations
Advanced LWIR Technology to Power Near-Room Temperature Thermal Imaging
LWIR Imagers with Superior Dynamic Range
Security & Surveillance Applications Present Significant Potential for Infrared Imaging Market
Emerging Applications of SWIR Cameras to Boost Market
Infrared Imaging Technology's Growing Role in Gas Detection
Global Gas Leak Detection & Repair Market by Technology (in %) for 2020E
IR Imaging Technology Finds Growing Use in Healthcare Sector
Infrared Cameras for Medical Diagnostic Reasons
IR Imaging Cameras Rise in Prominence for COVID-19 Screening
Autonomous Vehicles Integrate IR Imaging Technology
Global Projected Penetration Rate (%) of Autonomous Vehicles for the Years 2021, 2023 and 2025
As Aviation Industry Looks to Resume Normal Operations, Demand for IR Imaging Systems Poised to Grow
Expected Losses in Global Aviation Industry (In US$ Billion)
Consumer Electronics Industry Witnesses Increasing Use of IR Technology
IR Imaging Cameras: Sensing IR Radiation
Primary Use-Cases of Thermal Imaging Cameras
Glitches of Thermal Imaging Cameras
Infrared Cameras Help Identify & Correct Distortions in Production
Emerging Infrared Imaging Technology Applications: An Overview
Technological Advances in IR Imaging Technology & Development of Low Cost Cameras to Propel Market
NIR-II Opens New Vistas for Biomedical Imaging
FIR: The Solution for Complete Autonomous Cars
High Cost of Infrared Cameras: A Key Market Restraint
Civil Rights & Privacy Concerns Miring Adoption of Thermal Imaging
Strict Trade Regulations Impede Demand for Infrared Imaging Products
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
For more information about this report visit https://www.researchandmarkets.com/r/aq8iy2
Research and Markets
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