The
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 2025, the infrared imaging market is expected to
grow from USD 5.2 billion in 2018 to USD 8.4 billion by 2025, at a CAGR of
7.16% between 2018 and 2025. The growth of this market can be attributed to the
high demand for infrared imaging products from the military and defense sector,
primarily for security and surveillance application.
Uncooled infrared imaging segment held
larger share of infrared imaging market in 2017
On
the basis of technologies, the uncooled infrared imaging segment leads the
infrared imaging market. The cost of uncooled infrared imaging cameras is
generally lower than that of cooled infrared imaging cameras. This is one of
the major reasons for the high demand for uncooled infrared imaging cameras.
Security and surveillance application to
dominate infrared imaging market during forecast period
On
the basis of applications, security and surveillance is currently leading the
market. It will continue to dominate the market during the forecast period. The
ability of infrared imaging products to enhance visibility even in restricted
visibility conditions, such as complete darkness and bad weather conditions,
has led to their wide adoption for the security and surveillance application.
Market for nonindustrial vertical to
grow at higher CAGR during forecast period
On
the basis of verticals, the market for nonindustrial vertical is expected to
witness higher growth during the forecast period. Military and defense, and
civil infrastructure are the 2 major segments within the nonindustrial vertical
that generate the highest demand for infrared imaging products and are driving
the growth of this segment.
North America held largest share of
infrared imaging market in 2017
North
America held the largest share of the infrared imaging market in 2017. The US
accounted for the largest share of the infrared imaging market in North
America, followed by Canada and Mexico. The US Army is one of the major users
of infrared imaging products, contributing to the leading position of North
America in the infrared imaging market.
Some
of the players operating in the infrared imaging market include FLIR Systems
(US), Fluke (US), Sensors Unlimited (US), Leonardo DRS (US), Princeton Infrared
Technologies (US), L3 Technologies (US), Axis Communications (Sweden), Xenics
(Belgium), Opgal Optronic Industries (Israel), New Imaging Technologies
(France), Sofradir (France), C-Thermal (Austria), Tonbo Imaging (India), Raptor
Photonics (UK), and Episensors (US).
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