What is the global market size of Infrared Sensors Market?

Global Infrared Sensors Market size was valued at USD 582.5 million in 2022 and is poised to grow from USD 618.03 million in 2023 to USD 992.5 million by 2031, growing at a CAGR of 6.1% in the forecast period (2024-2031).

Who are the key vendors in the Global Infrared Sensors Market?

Infrared sensor companies invest heavily in the research and development of new products to stand out from the competition and fast track commercialization of new products. Infrared sensor market players can also focus on expanding the application scope of their products by collaborating and partnering with different companies from various industry verticals. Mergers and acquisitions are projected to help infrared sensor suppliers expand their global footprint. 'Nippon Avionics Co. Ltd.', 'InfraTec GmbH', 'Raytheon Company', 'Omron Corp.', 'Wuhan Guide Infrared Co. Ltd.', 'Honeywell International Inc.', 'KEMET Corporation', 'Murata Manufacturing Inc.', 'General Dynamics Corp.', 'L3 technologies Inc.', 'Excelitas Technologies', 'Amphenol Corporation', 'Teledyne Technologies', 'Hamamatsu Photonics K.K.', 'FLIR Systems', 'Infrared Integrated Systems Ltd.', 'Texas Instruments Incorporated'

What is the key driver of Global Infrared Sensors Market?

Infrared sensors are being extensively used in different consumer electronics products and growing sales of consumer electronics is projected to bolster the demand for infrared sensors in the future.

What is the key market trend for Global Infrared Sensors Market?

Device Miniaturization:Infrared sensor manufacturers should focus on device miniaturization trends to create new opportunities for themselves and maximize their sales potential. Companies can also target wearable device makers to make the most of this trend in the long run. Infrared sensor suppliers should focus on R&D to make their products smaller to remain functional in miniaturized devices that are gaining prominence around the world.

Which region accounted for the largest share in Global Infrared Sensors Market?

The Asia Pacific region is projected to dominate the global infrared sensors market share across the forecast period. The presence of a robust electronics and semiconductor manufacturing industry coupled with growing use of infrared sensors in consumer electronics are allowing this region to dominate the global market growth. China is estimated to be the top market for infrared sensors companies in this region followed by Taiwan, Japan, and India in the future.

Infrared Sensors Market Size, Share, Growth Analysis, By Type(Near Infrared (NIR), Infrared, and Far Infrared (FIR)), By Working Mechanism(Active, and Passive), By Application(Motion Sensing, Temperature Measurement, Security and Surveillance, Gas and Fire Detection), By End Use(Healthcare, Aerospace and Defense, Automotive, Commercial Applications), By Region - Industry Forecast 2024-2031

Report ID: SQMIG45K2109 | Region: Global | Published Date: November, 2024
Pages: 196 | Tables: 118 | Figures: 74

Infrared Sensors Market News

In April 2024: FLIR Systems unveiled an innovative infrared sensor technology suitable for integration with autonomous vehicles. This new technology improves vehicle navigation and safety by enhancing thermal imaging capabilities which improves the chances of finding people, animals and other objects in poor visibility conditions. This innovation supports the growing demand for smart transportation systems.
In March 2024: Honeywell launched a next-generation infrared sensor for industrial applications. The sensor offers improved accuracy and sensitivity, specifically for gas leak detection in hazardous environments. This development strengthens Honeywell’s position in the market by addressing increasing safety and monitoring requirements in industries such as oil, gas, and chemicals.
In January 2024: Raytheon Technologies unveiled a cutting-edge infrared sensor for military and defense applications. The sensor provides enhanced thermal imaging capabilities, offering superior performance in challenging environments. This development boosts Raytheon’s strategic defense solutions, improving situational awareness for military personnel and advancing the company’s footprint in defense technology markets globally.

Infrared Sensors Market Report Snapshots

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Global Infrared Sensors Market size was valued at around USD 624.2 million in 2022 and is expected to rise from USD 710.1 million in 2023 to reach a value of USD 1770.7 million by 2031, at a CAGR of 12.10% over the forecast period (2024–2031).

The competition within the global infrared sensors market is characterized by radical innovation, as the main players are focusing their efforts on advanced sensor technology. The market is experiencing tremendous growth owing to product development, strategic alliance, and geographical expansion by foreign companies such as FLIR Systems, Honeywell International, Raytheon Technologies, and Omron Corporation. These companies are focused on improving existing sensors' performance and costs, as well as seeking to apply the technology in other industries such as automotive, healthcare, and security. This has increased competition and hastened the pace of the global infrared sensors market growth. 'Nippon Avionics Co. Ltd. ', 'InfraTec GmbH ', 'Raytheon Company ', 'Omron Corp. ', 'Wuhan Guide Infrared Co. Ltd. ', 'Honeywell International Inc. ', 'KEMET Corporation ', 'Murata Manufacturing Inc. ', 'General Dynamics Corp. ', 'L3 technologies Inc. ', 'Excelitas Technologies ', 'Amphenol Corporation ', 'Teledyne Technologies ', 'Hamamatsu Photonics K.K. ', 'FLIR Systems ', 'Infrared Integrated Systems Ltd. ', 'Texas Instruments Incorporated'

The surge in utilization of automation in various sectors such as manufacturing, automotive, and healthcare is propelling the growth of global infrared sensors market trends. Majority of modern industries, such as so-called smart factories and systems, incorporate these sensors owing to their importance in process monitoring, temperature variation detection and safety in embedded automated systems.

Growing Adoption of Infrared Sensors in Automotive Applications: The automotive industry is on a path of advancement, adopting more and more infrared sensors that are aimed at improving safety features like collision avoidance, detecting pedestrians, as well as night vision. Moreover, as the smart transportation system continues to advance, it is anticipated that there will be an ever-increasing need for high-quality infrared sensors that will be used to enhance the safety and efficiency of vehicles.

Asia Pacific is dominating the global infrared sensors market due to its rapid technological advancements, large-scale manufacturing capabilities, and growing demand across various industries. Countries such as China, Japan, and South Korean, are at the forefront of infrared sensor market owing to their robust automotive electronics, and defense industries. In terms of infrastructure development, extensive building in Automation, Industrial Monitoring, and Smart technologies has led to the high uptake of infrared sensors in the region. Moreover, increased demand due to changing lifestyles with orientation to energy efficiency, security solution and growing consumer electronics industry makes Asia Pacific the leading region in the global infrared sensors market.

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Infrared Sensors Market News

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What is the global market size of Infrared Sensors Market?

Who are the key vendors in the Infrared Sensors Market?

What is the key driver of Infrared Sensors Market?

What is the key market trend for Infrared Sensors Market?

Which region accounted for the largest share in Infrared Sensors Market?

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