The market study details the market segmentation analysis of infrared (IR) sensors with growth projections until 2019 based on revenues from security, home, and measurement applications. This research report provides leading vendor analysis on Excelitas, Murata, FLIR and Hamamatsu. Market share analysis of the leading regions includes APAC, Americas, EMEA, and ROW.
Technavio’s market research analysts estimate the global IR sensors market to grow at a CAGR of around 11% between 2015 and 2019. The need for cost reduction and miniaturization has led to the growing adoption of IR sensors in smartphone and tablet PCs. The APAC is the major revenue contributor to the global market for IR sensors, covering around 40% of the overall market share. This region is home to some major IR sensor vendors such as Murata, Hamamatsu Photonics, and Nippon Avionics. Increasing military budgets in some Asian countries, such as China, India, Pakistan, South Korea, and Japan is also booming the demand for military equipment with IR sensors.
The new market research report from Technavio provides a breakdown and analysis of the IR sensors segments by technology.
“The shifting trend towards sensor miniaturization and cost-reduction strategies has led vendors to integrate IR sensors into smartphones. These sensors when integrated, are useful for spot temperature measurement, photo editing and thermal layer adjustment. Moreover, the rising demand for smartphones has boosted the revenue growth of IR sensors market in the recent years,” says Navin Rajendra, Lead Analyst, Hardware & Semiconductor, Technavio Research.
The security application segment dominates the global IR sensors market, with around 71% revenue contribution to the overall market. Much of this segment’s growth comes from the increasing uses of SWIR sensors in intelligence, surveillance, and reconnaissance for military and security applications. The security applications of IR sensors include major defense-based applications such as low or night vision, target acquisition, missile detection, and weapon and vehicle vision.
Global IR sensors market by application
Source: Technavio Research
The leading vendors in the global infrared sensor market include Excelitas, FLIR systems, Hamamatsu and Murata. The entry barrier for new vendors in the market is high as it requires high technical competency and huge initial investment to enter the market. Technological advancements are expected to intensify the competitive environment in this market, and the leading vendors are expected to scale up their investments in the market during the forecast period.
A more detailed analysis is available in the Technavio report, Global Infrared Sensor Market 2015-2019.
We can customize reports by other regions and specific segments upon request.
Other Related Reports:
- Global Infrared Detection Equipment Market 2015-2019
- Global Infrared Imaging Market 2014-2018
- Global Military Electro-optic Infrared Systems Market 2014-2018
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