March 31, 2020

Infrared Sensors Market will be growing at a CAGR of 7.5% during the forecast period from 2018 to 2026

According to a new market research report published by Credence Research “Infrared Sensors Market – Growth, Future Prospects, and Competitive Analysis, 2018 – 2026”, the global market for infrared sensors is set to expand with CAGR by 7.5 per cent over the forecast period to reach US$ 592.5 million by 2026.

Market Insights

The overall market for infrared sensors is expected to see promising growth over the forecast period due to an increase in safety concerns across the industrial sector worldwide. Infrared sensors are vital components for several safety devices used to detect flame or gas leakage along with motion sensing to prevent destructive events. Factors such as product affordability and low power consumption have provided the much-needed impetus to the market for infrared sensors. A further driving factor for the growth of the market for infrared sensors is the increase in passenger safety and safety initiatives by car manufacturers. With the growing occurrence of accidental damage, safety devices have become an essential part of the car industry. Infrared sensors detect parameters such as heat, speed, and obstacles and play a vital role in other car precautionary measures to avoid any threat. These sensors also find vital applications in a wide range of sensing devices that provide information on different comfort, safety and security factors. With strong growth in the automotive sector, infrared sensors are expected to see significant growth over the next few years.

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Global market segmented infrared sensors based on wavelength type, detection technology, applications, and end-users. By wavelength type, the market led by long-wave infrared sensors represents more than 40% of the total market value. This is mainly due to the increased use of long-wave infrared sensors for flame detection, in vivo imaging and geothermal data collection, among others. In 2017, Asia Pacific was the largest market for infrared sensors. The region accounted for more than 30% of the total market value generated worldwide. The Asia Pacific is also set to record the highest growth over the forecast period, mainly due to the high penetration of the infrared sensor market in burgeoning industrial centers such as Japan, China, India, and Taiwan.

The market for infrared sensors is strongly supported by business organizations that are heavily dependent on sensing activities. These types of sensors have an important role to play in home protection, energy conservation, and comfort-providing devices. From gas motion & presence detection to thermometry and indoor climate control applications, organizations are meeting consumer expectations with an important role as infrared sensors. With a steady rise in wireless technologies worldwide, infrared sensors are likely to experience higher demand for smart modules. Infrared sensors detect and receive changes in motion, light, and temperature that are vital to the communication of changes in the environment in the form of information. The effect of this is that increasing demand for wireless communication, batteries and information storage capacity stimulates the demand for the subsequent market for infrared sensors.

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[Note: Our Free Complimentary Sample Report Accommodate a Brief Introduction To The Synopsis, TOC, List of Tables and Figures, Competitive Landscape and Geographic Segmentation, Innovation and Future Developments Based on Research Methodology are also Included]

Report Scope by Segments

By Wavelength Type Segment

  • Short Wave
  • Medium Wave
  • Long Wave

By Detection Technology Segment

  • Cooled
  • Uncooled

By Applications Segment

  • Climatology
  • Surface Feature Detection
  • Barcode Decoding
  • Flame Detection
  • In Vivo Imaging

By End-user Segment

  • Consumer Electronics
  • Mining
  • Aerospace & Defense
  • Oil & Gas
  • Automotive
  • Manufacturing
  • Telecommunication
  • Chemicals
  • Healthcare

By Geography Segment

  • North America (the U.S., Rest of North America)
  • Europe (U.K., Germany, France, Rest of Europe)
  • Asia Pacific (China, Japan, India, Rest of Asia Pacific)
  • Rest of World (Middle East & Africa (MEA), Latin America)

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