The infrared
spectrum typically ranges from wavelengths of 0.7 μm to 1 mm. Imaging in this
range requires infrared imaging cameras that can convert the radiation of
objects in the infrared range to a measurable form. The infrared imaging market
is expected to grow from USD 5.8 billion in 2020 to USD 8.3 billion by 2025; it
is expected to grow at a CAGR of 7.6% during the forecast period. Security and
surveillance, and monitoring and inspection are the key verticals, which
dominate the infrared imaging market and also contribute significantly to its
growth.
Major players
in the infrared
imaging market have primarily adopted product launch strategy to strengthen
their position in the market.
FLIR Systems (US)
and Fluke (US) are among the major players in the infrared imaging market. FLIR
Systems is a prominent company in the infrared imaging market with a strong and
well-known infrared imaging product portfolio consisting of various LWIR, MWIR,
and SWIR technology-based products. The company is further trying to expand its
portfolio by introducing new products. In October 2020 it launched five new
products: FLIR Elara FR-345-EST (fixed-mount radiometric thermal security
camera), and four new advanced thermal imaging cameras (E96, E86, E76 and E54).
The company also focuses on other strategies such as contracts, and
partnerships to strengthen its presence in the infrared imaging market. In
addition to the extensive product portfolio, the company’s strong brand image,
customer base, and wide geographic reach have helped it attain a leading
position in the infrared imaging market.
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Fluke (US) is
another well-known player in the infrared imaging market. The company has a
strong portfolio consisting of several award-winning LWIR technology-based
products. Fluke has stressed on the product launch strategy to further broaden
its product portfolio and strengthen its grip on the infrared imaging market.
The company’s geographic reach is another major factor contributing to its
strong position in the infrared imaging market. Fluke has manufacturing centers
in the US, the UK, Asia, and the Netherlands; and sales and services
subsidiaries in North America, Europe, South America, Asia, and Australia.
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