Infrared Imaging Market

Global Infrared Imaging Market Size (2023 to 2028)

The global Infrared Imaging Market size is expected to be worth USD 5.5 Billion in 2023. It is expected to grow at a CAGR of 6.2% during the forecast period and reach a value of USD 7.43 Billion by 2028.

Global Infrared Imaging Market Drivers:

Growing applications in quality assurance and inspection are driving the growth of the global infrared imaging market. These cutting-edge cameras offer harmless and indirect testing features, allowing firms to improve their quality control procedures. Infrared imaging enables precise measurement, quick data analysis and real-time monitoring of processes. Therefore, waste is decreased, and total operational efficiency is increased. The growing prevalence of chronic diseases such as diabetes, breast cancer and prostate cancer has heightened the demand for diagnostic procedures that emphasize the importance of infrared imaging. Artificial intelligence and infrared imaging are used by the Centre for Protein Diagnostics PRODI at Ruhr University Bochum to enhance the treatment of individual colon cancer patients. All these developments will further boost the infrared imaging market in the coming years.

Using infrared imaging in precision farming and agriculture is fuelling the adoption rate and accelerating market growth. Precision farming in agriculture is progressively utilizing infrared thermography. The system improves pest monitoring, water stress management, and crop health, enabling farmers to apply pesticides, fertilizers, and irrigation efficiently, thereby increasing yields and maximizing resource use. Quantum dot infrared photodetectors, type-II strained layer super-lattice, and QDIPs with type-II band alignment are a few of the new technologies that are expected to boost the infrared imaging market. Also, US researchers at Purdue University have introduced a thermal imaging device that employs machine learning to decipher the information found in infrared photos. The system called HADAR enables passive thermal imagers to produce pictures that have been taken in the middle of the day.

New applications for infrared imaging continue to appear in the automotive industry, providing more opportunities for companies in the market. The automotive industry is experiencing a revolution in driving experiences using infrared imaging technologies. These applications improve safety, convenience, and efficiency, especially in driver monitoring systems that identify tiredness.

Global Infrared Imaging Market Restraints:

High R&D and initial investment costs are primarily hampering the growth of the infrared imaging market. The widespread use of infrared thermography technology is limited by its high costs. The amount of funds needed to buy infrared imaging equipment is possibly hefty. High costs are hindering small and medium-sized enterprises from purchasing thermography equipment. Rising research and development costs and modern technology deployment may increase product prices, affecting market expansion in conventional cooled infrared detectors despite their higher cost and efficiency.

Sensitivity and picture resolution limitations are restricting the growth of the infrared imaging market. The usage of infrared imaging is only allowed in some high-precision applications and industries that require excellent image clarity and detail due to its low resolution and sensitivity. To reach the required degree of accuracy, this forces the use of supplemental techniques or other imaging technologies. Another factor limiting the market expansion is image analysis and interpretation significantly impact IRT inspection outcomes. Image analysis involves processing and quantifying IRT images using software tools while interpretation identifies anomalies, defects, or problems. Using appropriate tools and thermographers is crucial.

Impact of COVID-19 on the global infrared imaging market:

COVID-19 had a big effect on the infrared imaging market because it made IR imaging more popular amid patients' and healthcare professional’s growing concerns about virus transmission. The treatment of acute illnesses including stroke, myocardial infarction, and various cancers with IR imaging became less common when governments around the world stopped performing elective procedures to concentrate on COVID-19. Based on cutting-edge image processing methods, a novel non-contact thermal imaging instrument was created to detect COVID-19. The gadget achieves an AUC of 0.85 and a sensitivity of as high as ninety-two percent while capturing thermal photos of people with and without COVID-19. Particularly in low-income areas, this non-invasive thermal imaging could be used in out-of-hospital settings.

REPORT COVERAGE:

This research report on the global infrared imaging market has been segmented and sub-segmented based on product, application, indication, end user, technology, wavelength, component, & region.

Global Infrared Imaging Market - By Product:

• Device
• Reagents

The reagents segment holds the maximum share of the infrared imaging market. As a result of their excellent sensitivity and specificity in biological systems, mainly Indocyanine Green, which provides real-time angiographic pictures for brain tumor and vascular surgery and is rapidly being employed in spine surgery the reagents segment is predicted to increase significantly.

Global Infrared Imaging Market - By Application:

• Consumer Electronics
• Surveillance
• Automotive
• Aerospace & Defence
• Industrial
• Medical
• Firefighting

The surveillance segment is the leading segment of the infrared imaging market. Increasing demand for products in security and surveillance applications from law enforcement agencies is driving the market further. The market is dominated by this sector, which is predicted to expand as a result of increased demand from governmental and law enforcement organizations that use various technologies to safeguard people and property.

Global Infrared Imaging Market - By Indication:

• Cancer Surgeries
• Cardiovascular Surgeries
• Gastrointestinal Surgeries
• Plastic/Reconstructive Surgeries
• Others

The cancer surgeries segment is the biggest market under this category. The market is propelled by growing demand for minimally intrusive surgery and the increased prevalence of cancer. Infrared imaging enhances surgical precision, decreases recurrence rates, and improves the differentiation of malignant from healthy tissue. Accuracy and usability were increased by the introduction of smaller probes, better image quality, and interaction with other imaging modalities.

Global Infrared Imaging Market - By End-user:

• Hospitals & Clinics
• Pharmaceutical & Biotechnology Companies
• Research Laboratories
• Others

The hospitals & clinics segment is expected to grow at a higher CAGR during the forecast period. The growth in cancer patient admissions in clinics and hospitals is driven by the increasing use of near-infrared technologies for detection. The use of these sensors in laparoscopic instruments lowers surgical errors, hospital stays, and medical expenses, satisfying patients' desire for effective and minimally invasive surgery.

Global Infrared Imaging Market - By Technology:

• Cooled
• Uncooled

The uncooled segment is expected to have the biggest share of the infrared imaging market during the forecast period. The expansion of uncooled infrared imaging has been driven by its increasing uses in fields such as agriculture, automotive, and security. Moreover, many users prefer uncooled infrared imaging due to its simplicity of use and capacity to record thermal data in real time without the need for cooling devices.

Global Infrared Imaging Market - By Wavelength

• Shortwave infrared/SWIR
• Mid Wave Infrared/MWIR
• Long Wave Infrared/LWIR

The long-wave infrared segment under this category has the majority of the market share. With their wider wavelength range, LWIR cameras can detect even minute temperature differences more accurately and produce better-looking images. Because of this feature, they are ideal for crucial applications like predictive maintenance, where the ability to detect minute temperature changes is crucial. Furthermore, there have been notable developments in detector technology for LWIR cameras, leading to increased sensitivity and better resolution.

Global Infrared Imaging Market - By Component:

• IR Detectors
• IR Lens Systems
• IR Sensors
• Other Components

The IR sensors segment under this category is the dominant market. The growing demand for security systems in homes, businesses, and public spaces is driving the growth of IR sensors in motion detection, surveillance, automation tasks, and energy management, with smaller, integrated sensors being used in portable devices and drones.

Global Infrared Imaging Market - By Region:

• North America
• Europe
• Asia-Pacific
• South America
• Middle East & Africa

North America is dominating the infrared imaging market with a significant share. The rise in cancer-related admissions to clinics, hospitals, and healthcare facilities in wealthy nations is the cause of this trend. To avoid surgical errors, infrared technologies are frequently utilized in medical facilities to identify bed sores. The use of such equipment helps to decrease surgical errors, shorten hospital stays, and lower patient healthcare expenses. Infrared product demand is predicted to rise in response to patients' growing need for effective, less invasive surgical techniques.

Europe infrared imaging market is expected to propel further with an elevated growth rate during the forecast period. The current conflict between Ukraine and Russia is one of the reasons for the boosting of market share in the defense and aerospace sectors. Sensor systems with high detection, recognition, and identification ranges are crucial for armed forces, naval surveillance, land situational awareness, and observation satellite payloads. Robust size, weight, power consumption, and cost-compliant IR sensors are needed for low visibility conditions and improved trade-offs between range and field of view in airborne surveillance. Detector materials, ROIC bumping technology, and cryocoolers are the three sectors in the European cooled infrared sensor supply chain that presently require additional investment in joint R&D to address those issues.

Asia Pacific region is anticipated to grow at an exponential rate in the coming years. The matured electronic sector and rising technological developments in economies like China, Japan, and South Korea have led the infrared imaging market with the quickest growth rate. Furthermore, the area is the biggest manufacturer and user of consumer electronics. Moreover, the rising defense and security spending is also contributing to the market expansion. Furthermore, the modernization of Indian railways is propelling the market in the country. In August 2023, the Central Railway decided that all Mumbai Suburban Trains' women's coaches will now have Talkback and CCTV with infrared imaging installed.

Latin America infrared imaging market is developing with promising potential. Growing awareness has led to its application in industrial process control, security, agriculture, and medical diagnostics. However, nations like Argentina and Bolivia are falling behind Brazil and Chile because they lack the infrastructure, resources, and knowledge. In the last ten years, the level of intrusion and naturalization of these technologies has increased across the region which is increasing the demand for infrared imaging technology and products.

Middle East and Africa is expected to rise considerably during the forecast period. It is anticipated that the increasing need for monitoring and inspection technology in the oil and gas industry will fuel market expansion. High-end infrared systems are in demand due to significant investments made in border control, protecting key infrastructure, and urban security.

KEY MARKET PLAYERS:

The Major Players in the Infrared Imaging Market are Allied Vision Technologies GmbH, Axis Communications AB, C-THERMAL, Cox Communications, Inc., Zhejiang Dali Technology Co., Ltd., EpiSensor, FLIR Systems, Inc., Fluke Corporation, Xenics, IRCAmeras LLC., L3 Technologies, Inc., LEONARDO DRS, New Imaging Technologies, Opgal, Princeton Infrared Technologies, Inc., Raptor Photonics, Sensors Unlimited, Sofradir, Tonbo Imaging, Infrared Imaging Services LLC., Red Current Ltd, Cascade Thermal Imaging, Inc., Infrared Imaging Solutions Inc., InfraTec GmbH.

RECENT HAPPENINGS IN THE MARKET:

• In March 2023, NASA and L3Harris signed a contract to develop and manufacture the next generation of high-resolution infrared imagers for NOAA's Geostationary Extended Observations satellite system.
• In May 2023, Researchers at Flinders University found a new affordable material that can be used to create thermal imaging lenses, suggesting that this potent technology may find new uses in advanced manufacturing.