Infrared Camera Market Size, Analysis, Share & Forecast 2031

Report Description

The global infrared camera market was valued at USD 956.60 Million in 2022, and is anticipated to reach USD 2026.73 Million by 2031, registering at a CAGR of 8.7% from 2023 to 2031. A non-contact infrared camera senses infrared and transforms it to an electric signal, which then is processed to provide a thermal image on the monitor. Infrared cameras detect heat, which is carefully quantified and monitored to monitor thermal performance and discover heat-related issues. In the coming years, recent advancements in detector technology, as well as the incorporation of built-in visual imaging, autonomous functionality, and infrared software development, are projected to produce more cost-effective thermal analysis solutions.

The Covid-19 pandemic affected the demand and supply of advanced global infrared camera market. Lockdown across the globe, supply chain disorders, and oscillating supply of raw materials forced manufacturers to shut down production leading to unfortunate decline in market growth. Launch of vaccines to combat the Covid-19 pandemic is expected to contribute to the market growth over the forecast period.

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Infrared Camera Market Trends, Drivers, Restraints, and Opportunities

• Due to the capacity of infrared cameras to operate in difficult circumstances such as fog, haze, smoke, and water vapor are widely utilized in security and surveillance applications.

• Infrared cameras are widely used in industrial and commercial facilities for security and surveillance; this is projected to fuel the market.

• Infrared cameras are well suited for temperature measurement because they allow for a safe distance between operators and subject while requiring less manpower, which is estimated to create lucrative opportunities for the market players.

• Manufacturers and distributors must obtain commodity jurisdiction clearance before selling these items, which adds to the complexity and costs associated with the sale and acquisition of infrared cameras.

• Many manufacturers and distributors are required to go through the approval process, which restrain the growth of the infrared imaging market.

• Significant investments and government incentives made to enhance the military and defense industry, is one of the primary factor driving the market.

• The demand for infrared imaging systems is increasing in a variety of industrial industries, including electronics, semiconductors, and automobiles which is estimated to propel the market.

Scope of Infrared Camera Market Report

The report on the global infrared camera market includes an assessment of the market scope, analysis, share, competitive analysis, growth facts, restraints, opportunities, and revenue forecast.

Global Infrared Camera Market Segmentation insights

The fixed camera segment is expected to grow at a rapid pace

Based on product types, the market is segregated into fixed, handheld, and pan-tilt-zoom (PTZ). The fixed camera segment is expected to grow significantly during the forecast period. Fixed infrared cameras accounted for more than 40% of the market share in 2019. Monitoring and monitoring of airport perimeters is a major challenge for a variety of municipal, state, and federal organizations. Infrared camera manufacturers are working to improve the signal-to-noise ratio, increase processing capabilities & range, and reduce false alarms. These are installed at a certain height and distance from one another to offer 360-degree coverage. In airport perimeter security, fixed short-range infrared cameras with long-range monitoring capacity are used to verify that there are no gaps in perimeter coverage.

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The long wave infrared segment holds major market share

On the basis of wavelength, the market is fragmented into near infrared (NIR), short-wave infrared (SWIR), mid-wave infrared (MWIR), and long-wave infrared (LWIR). The long-wave infrared segment holds the major market share. This is due to its capacity to work efficiently in hostile situations such as smoke or aerosol, the LWIR camera segment is estimated to grow at a rapid pace. These cameras are far more effective at identifying items that cover a large temperature range, necessitating intra-scene photography of both hot and cold objects. Due to their wide view, the cameras are extensively used for long-range surveillance.

The uncooled cameras segment is expected to grow at a significant rate

Based on technologies, the market is bifurcated into cooled and uncooled. The uncooled cameras segment is expected to grow at a significant rate during the forecast period. The uncooled infrared camera industry develop steadily as these cameras are inexpensive and require less maintenance due to the lack of cryogenic cooling systems. Cameras in surveillance systems are being adopted in a wide range of end industries due to their low cost, convenience of integration with any security system, and low maintenance costs.

The automotive segment is projected to expand at a high CAGR during the forecast period

In terms of applications, the market is divided into automotive, BFSI, commercial, government & defense, healthcare, industrial, residential, and others. The automotive segment is projected to expand at a high CAGR during the forecast period. Integration of infrared cameras with ADAS in the automobile application increases night-vision capabilities and passenger safety. Strategic collaborations are being pursued by market participants in order to connect the equipment with ADAS. For instance, FLIR Systems, Inc. collaborated with Veoneer in October 2019 to incorporate the equipment into the ADAS of a level-4 AV for a multinational carmaker. For its low cost, ease of integration, and potential to provide superior all-weather vision, OEMs are fast adopting the equipment and incorporating it into self-driving software of autonomous vehicles (AVs) (including night-vision).

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Asia Pacific is anticipated to dominate the market

Based on Regions, the market is classified as North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific is anticipated to dominate the market. Due to the availability of high-end upgraded technologies, increasing demand for smart devices, and development in the manufacturing industries, it is the most important market for infrared cameras. Furthermore, different non-profit organizations that support embedded systems drive the market. These companies undertake a variety of measures to develop improved power infrastructure, which is likely to fuel the infrared camera market.

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