CHICAGO, Jan. 21, 2020 /PRNewswire/ -- According to the new market research report "Infrared Detector Market by Type (MCT, InGaAs, Pyroelectric, Thermopile, Microbolometer, and Others), Technology (Cooled and Uncooled), Wavelength (NIR & SWIR, MWIR, and LWIR), Application, Vertical, and Geography - Global Forecast to 2025", published by MarketsandMarkets the infrared detector market is expected to grow from USD 498 million in 2020 to USD 683 million by 2025; it is expected to grow at a CAGR of 6.5% from 2020 to 2025.
The high demand for infrared detectors in the nonindustrial vertical, especially for people and motion sensing, temperature measurement, and security and surveillance applications, are key driving factors for the infrared detectors market. The increasing penetration of infrared technology for gas analysis and fire detection and high popularity of uncooled infrared detectors are a few other key factors having a positive impact on the growth of the infrared detector market.
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Pyroelectric infrared detector segment to hold largest share of infrared detector market, by type, in 2020
Pyroelectric infrared detector segment will lead the infrared detector market, by type, in terms of size, by 2020. The leading position of this segment can be attributed to the high demand for pyroelectric infrared detectors for people and motion sensing, and temperature measurement applications. In these applications, pyroelectric infrared detectors are majorly used for human being detection, people counting in retail shops, and non-contact temperature measurement. Security and surveillance is another key application of pyroelectric infrared detectors.
Market for (NIR) and short-wave infrared (SWIR) detectors to grow at highest CAGR during forecast period
The market for the NIR and SWIR infrared detectors is expected to witness the highest growth during the forecast period. Wide applicability of SWIR detectors is mainly fueling the growth of this market. Surveillance, moisture detection, spectroscopy, high-temperature thermography, semiconductor inspection, scientific research, and art inspection are some of the common application areas of SWIR detectors. Currently, the price of SWIR detectors is higher than most MWIR and LWIR detectors, which has restricted their wide-scale adoption. However, owing to technological advancements, the price of these systems is expected to decrease in the near future. This factor is likely to increase the penetration of SWIR detectors.
Browse in-depth TOC on "Infrared Detector Market"
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North America to hold largest share of infrared detector market by 2020
North America is expected to hold the largest share of the infrared detector market by 2020. The US and Canada are the key countries contributing to the growth of the infrared detector market in North America. Europe is expected to account for the second-largest share of the infrared detector market during the forecast period. The UK and Germany are significant demand-generating countries for infrared detectors in this region.
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A few key players operating in the infrared detector market are Excelitas Technologies (US), Nippon Ceramic (Japan), Hamamatsu Photonics (Japan), Murata Manufacturing (Japan), FLIR Systems (US), Texas Instruments (US), OMRON Corporation (Japan), InfraTec (Germany), and Lynred (France).
Please explore relevant report
Infrared Imaging Market by Technology (Cooled Infrared Imaging and Uncooled Infrared Imaging), Wavelength (Near Infrared, Shortwave Infrared, Mid-wave Infrared, and Long-wave Infrared), Application, Vertical, and Geography - Global Forecast to 2023
Thermal Imaging Market by Type (Cameras, Modules, Scopes), Application (Security & Surveillance, Monitoring & Inspection, Detection), Vertical (Aerospace & Defense, Industrial, Healthcare & Life Sciences), and Geography - Global Forecast to 2023
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