Northbrook, IL 60062 -- (SBWire) -- 11/27/2023 --The infrared imaging market is estimated to be worth USD 6.7 billion in 2023 and is projected to reach USD 9.6 billion by 2028, at a CAGR of 7.3% during the forecast period. Increased adoption of infrared imaging products in security & surveillance application is one of the major drivers that fuels market growth.
The market for uncooled infrared imaging by technology to hold largest market share during the forecast period
the expanding applications of uncooled infrared imaging in areas like automotive, security, and agriculture have fueled its growth. Also, the ease of use and the ability to capture thermal data in real-time without the need for cooling systems have made uncooled infrared imaging a preferred choice for many users.
Download PDF Brochure:
https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=593
Long-wave infrared by wavelength held the largest market share in 2023
LWIR cameras provide an extended wavelength range, enabling superior detection of small temperature differentials and enhancing image quality. This characteristic makes them highly suitable for critical applications like predictive maintenance, where identifying subtle temperature variations is essential. Moreover, LWIR cameras have experienced significant advancements in detector technology, resulting in heightened sensitivity and improved resolution.
Monitoring & Inspection by application to witness highest CAGR during forecast period
Infrared imaging facilitates non-destructive monitoring and inspection across industries by capturing thermal signatures. It assists in preventive maintenance, quality control, energy audits, building inspections, healthcare diagnostics, and agriculture, enabling the detection of anomalies, process optimization, and efficiency improvement.
Asia Pacific held to register highest CAGR in the infrared imaging market during forecast period
The Asia Pacific region is one of the key markets for infrared imaging market. The increasing adoption of thermal imaging technology across various sectors has driven the demand for infrared cameras and related products. Several companies in the region are actively involved in the development, production, and distribution of infrared imaging solutions. The technology continues to advance, and its applications are expanding to new areas, promoting safety, efficiency, and innovation in the region.
Key Market Players
The overall infrared imaging market is dominated by Teledyne FLIR LLC (US), Leonardo DRS (US), Axis Communications AB (Sweden), Zhejiang Dali Technology Co.,Ltd. (China), OPGAL Optronics Industries Ltd (Israel) L3Harris Technologies (US), Inc, Fluke Corporation (US), Raytheon Technologies Corporation (US), Xenics nv (Belgium), and Allied Vision Technologies GmbH (Germany). These companies have used both organic and inorganic growth strategies such as product launches, acquisitions, and partnerships to strengthen their position in the market.
Infrared Imaging Market Analysis, Statistics, Regional, and Forecast to 2028