A recent report published by Transparency Market Research (TMR) reveals that the global infrared detectors market is
set to soar at a CAGR of 8.9% during the forecast period (2017-2022).
Increasing use of infrared detectors in industrial and manufacturing
applications is likely to boost the global demand for infrared detectors
during the forecast period. At the same time, infrared detectors are
gaining momentum as a highly significant security apparatus. Moreover,
advancements in IR detection technology is driving the adoption of IR
detectors in various industrial applications. There are basically two
types of technology used in IR detectors – uncooled and cooled. Uncooled
infrared detectors are smaller in size and are have relatively lower
complexity as compared to cooled IR detectors. Due to their exponential
night sighting capabilities, infrared detectors are being increasingly
incorporated in night vision cameras.
In addition, IR detectors are used for
various measurement and testing requirements in the manufacturing and
retail sectors. IR technology is being utilized for testing performance
and quality of products. Infrared detectors are also used for measuring
temperature in automotive systems, air condition systems and other
pertinent setups. Also, they are deployed in the industrial plants to
monitor the efficient functioning of boilers, motors, electrical
peripherals and bearings. However, factors such as high cost of the
technology and low awareness about IR detectors in developing regions
are likely to remain major growth inhibitors of the market during the
forecast period.
APEJ Will remain an Highly Attractive Market for Infrared Detectors
Asia-Pacific Excluding Japan (APEJ) is
likely to dominate the global market for infrared detectors in 2017, and
the trend is projected to continue in the coming years as well. In
addition, the region’s market is expected to surge at a sound CAGR of 9%
during the forecast period. This is primarily owing to robust adoption
of infrared technology in the region’s manufacturing sector.
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On the basis of product type, the
bolometer segment is expected to remain highly attractive during the
assessment period. This segment currently command for nearly 33% revenue
share of the market and is expected to surpass a market valuation of
US$ 200 Mn by 2022-end, reflecting an above-average CAGR.
Cooled Infrared Detectors will Remain Sough-After
By technology type, the cooled infrared
detectors segment is anticipated to retain its top spot over 2022.
During the forecast period, this segments is projected to exhibit a CAGR
of 8.2% to reach a valuation in excess of US$ 500 Mn. Currently, the
cooled infrared detectors segment represents over 67% market share in
terms of revenue.
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