The Infrared (IR) Sensor Market is likely to grow at a significant CAGR of 5.1% during 2023-2028, to reach US$ 1.4 Billion in 2028, states Stratview Research.
DETROIT, Dec. 11, 2023 /PRNewswire/ -- Stratview Research, a global market research firm has launched a report on the Infrared (IR) Sensor market which provides a comprehensive analysis of the global and regional industry forecast, current & emerging trends, segment analysis, and competitive landscape.
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Report Highlights
Market Size in 2028 | US$ 1.4 Billion in 2028 |
Growth (CAGR) | 5.1% during 2023-2028 |
Forecast Period | 2023-2028 |
Trend Period | 2016-2021 |
Base Year | 2022 |
Number of Segments Covered | 2 |
Number of Tables & Graphs | 70+ |
Country-Level Market Assessment | 20 |
Segment Insights on Infrared (IR) Sensor Market
The infrared (IR) sensor market is segmented based on product type, and region.
Based on product type- The IR sensor market is classified as thermal detectors and thermal imagers. Between the two product types, thermal imager is expected to remain the dominant segment during the forecast period, owing to its applications in a wide range of industries including automotive, aerospace, military, and security. In addition, thermal imagers also have several advantages over traditional IR sensors, such as cost-effectiveness, small size, high sensitivity, uncooled operation, and improved resolution, which make them one of the most preferred IR sensors. On the other hand, the thermal detector is estimated to witness the fastest market growth in the coming years, owing to its lower cost as compared to the thermal imager and increasing demand in a wide range of applications such as temperature measurement, gas sensing, and motion detection due to their features like non-contact temperature measurement, quick response time, and wide detection range.
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Which Region Offers the Best Opportunity and Growth?
The report suggests that Asia-Pacific is expected to remain the largest market for Infrared (IR) sensors during the forecast period.
This growth is majorly attributed to the following -
- This region is home to many Chinese and Japanese players such as NICERA, Wuhan Guide Sensmart Tech Co., Ltd., Global Sensor Technology, and Murata Manufacturing Ltd.
- Moreover, the region has been witnessing significant demand in industries, such as aerospace, defense, automotive, and healthcare, in recent years, particularly in countries like China, India, Japan, and South Korea.
Infrared (IR) Sensor Market Drivers
Some of the key drivers listed in the report are given below.
- The growing demand for automation across several sectors, including industrial, aerospace, and automotive.
- The increasing adoption of IR sensors in smartphones, wearables, and other consumer electronics is a key driver of the overall market. These sensors are used for facial recognition, proximity sensing, and other applications, enhancing the user experience and improving device security.
- The increasing number of smart homes and building automation systems, where they are used for motion detection, temperature monitoring, and occupancy sensing.
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Top 10 Companies in the Infrared (IR) Sensor Market?
The market for IR sensors is highly consolidated, with a few companies controlling the majority of the industry. The market is competitive with the presence of several regional and global players. Most of the major players compete in some of the governing factors including price, product offerings, industry expertise, and regional presence. The following are the key players in the IR sensor market:
- Teledyne Technologies Incorporated
- Excelitas Technologies Corp.,
- Lynred
- NICERA
- Seek Thermal
- Murata Manufacturing Co., Ltd.
- Melexis
- Heimann Sensor GmbH
- Wuhan Guide Sensmart Tech Co., Ltd.
- Global Sensor Technology
What Deliverables Will You Get in this Report?
Key questions this report answers | Relevant contents in the report |
How big is the sales opportunity? | In-depth Analysis of the Infrared (IR) Sensor Market |
How lucrative is the future? | Market forecast and trend data and emerging trends |
Which regions offer the best sales opportunities? | Global, regional, and country-level historical data and forecasts |
Which are the most attractive market segments? | Market segment analysis and forecast |
Which are the top players and their market positioning? | Competitive landscape analysis, Market share analysis |
How complex is the business environment? | Porter's five forces analysis, PEST analysis, Life cycle analysis |
What are the factors affecting the market? | Drivers & challenges |
Will I get the information on my specific requirements? | 10% free customization |
Related reports which might be useful:
- Thermal Detector Market
- Thermal Imager Market
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