Global Infrared Sensor Market: Rising Security Concerns to Fuel Uptake of Infrared Sensors

The global market for infrared sensors exhibits a consolidated structure, finds a report by Transparency Market Research (TMR). The top four players in this market, namely Murata Manufacturing, FLIR Systems, Hamamatsu Photonics, and Excelitas Technologies, together accounted for more than 85% in this market in 2015.

As these players are aggressively focusing on innovation and advancements in the current offering to gain greater visibility, the competition within the market is likely to intensify further in the years to come.

Global Infrared Sensor Market: Snapshot

The significant rise in security concerns among consumers and the growing demand for consumer electronics products is impacting the global market for infrared sensors greatly. The massive demand for security at commercial places, such as offices, hospitals, and hotels is likely to push the growth of this market upward in the next few years.

Apart from this, the decline in the retail prices of these sensors is also estimated to bolster the demand for infrared sensors remarkably over the next few years. The rising trend of automation across end users, such as the semiconductor and electronics, aerospace and defense, and the medical and healthcare industries is another important factor that is expected to boost the growth of the infrared sensor market, globally, in the years to come. The market, however, may be restricted to some extent in the future by the high manufacturing cost and stringent government rules and regulations.

The global market for infrared sensors stood at US$238.8 mn in 2015. Rising at a healthy CAGR of 12.80% from 2015 to 2024, the opportunity in this market is likely to touch US$692.8 mn by the end of 2024.

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Global Infrared Sensors Market: Segmentation

The global Infrared Sensors market is segmented on the basis of working mechanism, detection, functionality, end use and geography. Based on the working mechanism, the market is segmented into passive and active. The passive sensors segment constituted the highest market share in 2015.On the basis of the type of detection by the infrared sensors, the global market is segmented into uncooled and cooled. The market is also segmented by functionality into thermal and quantum sensors. Based on the type of end use, the market is segmented into consumer electronics, aerospace and defense, oil and gas, chemical, mining, pharmaceuticals, and others.

By geography, the global infrared sensors market has been classified into five regions namely North America, Europe, Asia Pacific, Middle East and Africa, and Latin America. In the recent past, North America held the major share of the market, followed by Asia Pacific, Europe, Middle East and Africa and Latin America. .Common applications of infrared sensors encompass rail safety, gas leak detection, flame detection, petroleum exploration, alcohol level testing for driver under influence, anesthesiology testing, water and steel analysis, temperature detection and space operations.

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Aerospace and Defense Sector to Report Higher Demand Rate

The consumer electronics, aerospace and defense, oil and gas, chemical, mining, and the pharmaceuticals sectors have surfaced as the prime end user of infrared sensors across the world. Among these, the oil and gas and the consumer electronics sectors have been registering a significantly greater demand for infrared sensors than other end users. However, the aerospace and defense sector is anticipated to report a higher demand rate in the years to come.

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