Key Market Dynamics in Infrared Detector Market

Northbrook, USA, 2020-Jan-27 — /EPR Network/ —

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% during the forecast period. The high demand for infrared detectors in the nonindustrial vertical, especially for people and motion sensing, temperature measurement, and security and surveillance applications, are 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.

The uncooled infrared detector segment is expected to dominate as well as witness significant growth in the infrared detector market during the forecast period. The advantages of uncooled infrared detectors over cooled infrared detectors, such as low cost and smaller size, contributed to the prominent position of this segment in the infrared detector market.

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The market for near-infrared (NIR) and short-wave infrared (SWIR) detectors is expected to witness significant 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.

Among all applications, the infrared detector market for people and motion sensing applications is expected to grow at the highest CAGR from 2020 to 2025. The increasing penetration of infrared technology in commercial and residential buildings for building automation is one of the key factors driving the growth of the infrared detector market for the people and motion sensing application. Infrared detectors provide a wide variety of useful functions for building management systems (BMS) to manage lighting, and door and window openings centrally.

Among all regions, the infrared detector market in APAC is expected to grow at the highest CAGR during the forecast period. China, Japan, and Taiwan are a few major countries that accelerate the growth of the infrared detector market in APAC. APAC is home to several prominent military & defense, automobile, aerospace, and medical companies, thereby boosting the growth of the infrared detector market in APAC. Moreover, the presence of a significant number of companies, such as Nippon Ceramic (Japan), Hamamatsu Photonics (Japan), and Murata Manufacturing (Japan), providing infrared detectors also has a positive impact on the growth of the infrared detector market in APAC.

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Key players in the infrared detector market are grabbing opportunities by launching new products and expanding their global reach. Besides, expansions and product launches; partnerships, contracts, and acquisitions were a few of the other strategies adopted by companies in this market to strengthen their market position.

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