Infrared Sensors Market

Infrared Sensors Market Size, Share, Growth (2023-2028)

Infrared Sensors Market was at US$ 503.1 million in 2023 and is estimated to grow at a CAGR 15.1% during the forecast period 2023-2028

Infrared Sensors Market Overview:

Increasing demand for home automation products, growth of the process automation industry and therefore, the increasing usage in wireless communication are the key growth factors for IR sensors.Infrared sensor or detector is employed to detect infrared to live heat and motion. It's integrated with different devices utilized in surveillance, automobiles, testing, detection, and measurement. Infrared detectors that convert infrared emission into an electrical signal are one among the first significant group of sensors in defense system applications. These detectors also play a severe role in applications like medical, automotive, industrial, security, and consumer electronics. The fast-growing industrial sector, government investment, and economic incentives for the defense sector have further supported the expansion of the worldwide infrared sensor market. 

Infrared Sensors Market Recent Developments:

• Honeywell International Inc. [HON] stock additionally went down by -1.28% within the period of the seven days, recording a drop in performance by -5.24% within the last 30 days. The yearly more of HON stock is about at 18.39% by far, with shares price recording returns by -0.82% within the latest quarter. Over the past six months, HON shares showcased a 1.97% increase. 

• As of a 29, 2020, by applying its unique micro-electromechanical systems (MEMS) technology, Hamamatsu Photonics has successfully created a Fourier transform infrared spectrometer (FTIR) engine C15511-01", which is of a palm-size and offers high sensitivity to near-infrared light at wavelengths from 1.1 to 2.5 micrometers. This FTIR engine will play a vital role in creating portable handheld FTIR spectrophotometers for analytical applications, including real-time tracking of chemicals on production lines and ingredient analysis of agricultural products within the sector. Hamamatsu Photonics will start accepting product orders from analytical instrument manufacturers from Monday, February 3rd, 2020.

Infrared Sensors Market Drivers and Restraints:

The momentous growth in security issues among customers and the rising demand and recognition for customer electronics equipment/products are pushing the global infrared sensors market to a great extent. The massive demand for safety, particularly at commercial places, as an example, hospitals; offices; and hotels are expected to fuel the expansion of this market upward within the years to follow.Infrared sensors are costlier than other detectors as they require additional semiconductor components for increased sensitivity. Cooling techniques also increase their overall cost. Additionally, natural process and extreme air turbulence may affect their performance. The environment must be clean, without dust, and fewer humid for more accurate results. Infrared sensors detect infrared images that supported the temperature variations of objects in order that they cannot detect differences in objects that have a similar temperature range. This results in inaccuracy in many circumstances.

Infrared Sensors Market Segmentation:

by Type

• Mercury Cadmium Telluride (MCT) 

• Indium Gallium Arsenide (InGaAs) 

• Pyroelectric 

• Thermopile 

• Microbolometer 

• Others 

by Technology

• Cooled 

• Uncooled 

by Wavelength

• Near-Infrared (NIR) & Shortwave Infrared (SWIR) 

• Mid-Wave Infrared (MWIR) 

• Long-Wave Infrared (LWIR) 

by Application

• Commercial Applications

• Military and Defense

• Manufacturing

• Automotive

• Telecommunication

by Vertical

• Industrial 

• Non-Industrial

The commercial applications of the IR sensors are likely to expand at a tremendous growth rate, attributing to its increased adoption in smartphones, gaming consoles, Bluetooth and others. Military and defense is another prominent segment that is presumed to contribute a significant portion to the global infrared sensors market in the foreseen years. The automotive segment is also foreseen to expand at a noteworthy growth rate in the same period.

The fast-growing industrial sector, government investment, and economic incentives for the defense sector have further supported the expansion of the global infrared sensor market. These are highly effective for safety and monitoring purposes because of their compact size and skill to detect from far distances.

Infrared Sensors Market Regional Analysis:

• North America

• Europe

• Latin America

• Middle East and Africa

• APAC

The Asia-Pacific infrared sensor market is predicted to grow at the fastest CAGR during the forecast period due to robust governmental support and an enormous consumer electronics industry. Large-scale adoption of the infrared detectors within the latest range of applications like security, consumer electronics, and smart homes has fueled the market growth. Furthermore, the presence of varied key companies has catalyzed the local market. 

Europe and North America have come up as the most important market for infrared sensors, and are expected to grow at a considerable share in terms of revenue in the coming years. North America, is likely to be followed by Europe, due to the greater utilization of infrared sensors, as compared to other regions. The increasing consumption of infrared sensors particularly in identifying motion that supports in recognizing the aim from a far place is projected to fuel the North America infrared sensors market in the future. The Europe infrared sensors market is predicted to be largely boosted by the increasing demand and popularity of these sensors

Infrared Sensors Market Key Players:

1. Texas Instrument

2. Honeywell International Inc.

3. Infratec GmbH

4. FLIR Systems

5. Excelitas Technologies

6. Teledyne

7. Hamamatsu Photonic

8. Murata Manufacturing

9. Nippon Avionics

10. Raytheon