The report "Infrared Imaging Market by Technology (Cooled & Uncooled Infrared Imaging), Wavelength (Near, Shortwave, Mid-wave, & Long-wave Infrared), Application (Security & Surveillance, Monitoring & Inspection, Detection), Vertical - Global Forecast to 2028" The infrared imaging market is expected to reach USD 9.6 billion by 2028 from USD 6.7 billion in 2023, at a CAGR of 7.3% during the 2023–2028 period. The major factor driving the market growth of the infrared imaging market is rising adoption of infrared imaging owing to ability of infrared imaging technology that enable to be used in harsh environments and rise in use of SWIR cameras in machine vision applications.
Uncooled technology
segment to witness highest CAGR of the infrared imaging market during the
forecast period.
Uncooled cameras in
infrared imaging have experienced significant growth due to several key
factors. Firstly, their cost-effectiveness compared to cooled cameras
eliminates the need for expensive cooling systems, making them more accessible
to various industries. Secondly, their smaller size and portability enable
integration into different platforms, enhancing flexibility. Thirdly, uncooled
cameras' durability and reliability in harsh environments make them suitable
for demanding applications. Their energy efficiency and instant startup time
are advantageous in power-constrained and time-critical scenarios.
Additionally, continuous monitoring capabilities and technological advancements
have further increased adoption across security, defense, automotive,
industrial, and healthcare industries.
By wavelength, Long-wave
infrared (LWIR) is anticipated to capture the largest market share in infrared
imaging market.
The integration of LWIR
cameras into devices enhances their capabilities through the addition of
thermal imaging features. These cameras have become smaller thanks to
technological advancements, facilitating their seamless integration into
smartphones, drones, wearables, and other devices. This integration enables
real-time thermal imaging, granting users immediate access to thermal
information for various applications, including inspections, maintenance, and
security.
Security &
Surveillance by application to hold largest market share during the forecast
period in infrared imaging market.
In the field of security
& surveillance, incorporating infrared imaging is crucial for intrusion
detection and perimeter monitoring, even under low-light conditions. It enables
the use of thermal analytics to identify anomalies and enhances visibility in
challenging environments like fog or smoke. Infrared cameras facilitate covert
operations, strengthen facial recognition capabilities, and play a vital role
in emergency response scenarios by aiding in search and rescue operations.
Non-industrial vertical
is expected to register the highest CAGR during the forecast period in the
infrared imaging market.
In 2023, the
non-industrial vertical accounted for the largest share of the infrared imaging
market and is also expected to record the highest CAGR during the forecast
period. The non-industrial segment of the infrared imaging market has
experienced substantial growth. The military & defense, and civil
infrastructure segments generate the highest demand for infrared imaging
products in the non-industrial vertical. The military utilizes infrared imaging
for enhanced situational awareness, target acquisition, and night vision
capabilities.
Asia Pacific is expected
to register the highest CAGR during the forecast period in the infrared imaging
market.
The Asia Pacific region
has witnessed significant growth in the infrared imaging market due to several
factors. Firstly, the increasing defense spending by countries in the region
has driven the demand for infrared imaging systems for military applications.
Secondly, the rising adoption of infrared cameras in sectors like industrial
automation, surveillance, and transportation has boosted market growth.
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The report profiles key
players such as Teledyne FLIR LLC (US), Fluke Corporation (US), Raytheon
Technologies Corporation (US), Leonardo DRS (US), Axis Communications AB
(Sweden), L3Harris Technologies (US), Inc, Xenics nv (Belgium), Zhejiang Dali
Technology Co., Ltd. (China), OPGAL Optronics Industries Ltd (Israel) and
Allied Vision Technologies GmbH (Germany).
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