NEW YORK, May 22, 2020 /PRNewswire/ -- The global infrared
camera market is expected to reach US$11.54
billion in 2024, witnessing growth at a CAGR of 7.60%, over
the period 2020-2024. Factors such as increasing adoption for
security & surveillance, growing penetration of consumer
electronics, surging preference of autonomous vehicles, expanding
urbanization and upsurge in economic growth are expected to drive
the market. The growth of the market would be challenged by high
cost associated with initial acquisition and maintenance, lack of
accuracy in infrared camera functionality and stringent import and
export regulations. A few notable trends may include rising
applications in healthcare sector, technological innovations,
growing miniaturization of products and escalating usage of
infrared cameras for SWIR.
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The global infrared camera market can be categorized on the
basis of technology, application and material. Depending on the
technology, the global infrared camera market can broadly be
divided into uncooled and cooled infrared camera. In terms of
application, the global infrared camera market can be categorized
into military & defense, industrial, commercial, medical
imaging and other. Whereas, on the basis of material, the global
infrared camera market can be segmented into germanium, silicon,
zinc selenide and sapphire.
The fastest growing regional market is North America due to growing demand for
infrared cameras for monitoring and inspection of commercial and
residential buildings, gradually decreasing costs of infrared
cameras, rapid development of high speed infrared cameras,
accelerating economic growth and expanding urbanization.
Asia Pacific represents the second
largest infrared camera market and is already well-penetrated at
developed market levels due to increasing defense spending and
rising demand for infrared cameras by the regional developing
economies such as India,
Japan and China.
Scope of the report:
• The report provides a comprehensive analysis of the global
infrared camera market segmented on the basis of technology,
application and material.
• The major regional and country markets (North America, Asia
Pacific, Europe and Rest of
the World) have been analyzed.
• The market dynamics such as growth drivers, market trends and
challenges are analyzed in-depth.
• The competitive landscape of the market, along with the company
profiles of leading players (Raytheon Technologies Corp., Leonardo
S.p.A., Fortive Corporation (Fluke Corp.), FLIR Systems, Inc.,
Canon, Inc. (Axis Communications AB) and Hanwha Corporation (Hanwha
Techwin) are also presented in detail.
Key Target Audience:
• Infrared Camera Manufacturers
• Infrared Camera Service/Equipment Providers and Distributors
• Research Institutes and Organizations
• Government Bodies & Regulating Authorities
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