Global Infrared Detectors Market: Expansion of Technological Advanced Product by Key Players Drives Market Growth with a CAGR of 8.9%

Published on : Nov 20, 2017

Albany, New York, November 20, 2017: IR detectors are increasingly becoming prime component of consumer electronics devices such as smart TV, smartphone and others. Apart from that, the demand for infrared detectors continues to be influenced by its growing applications in industrial, military, medical, and automotive domain. Owing to this factor, the global infrared detectors market is likely to grow at a steady pace in the coming years. A new research study, focusing on the current trends and factors impacting the market has been recently publicized to the online repository of Market Research Hub (MRH), which is titled as “Infrared Detectors Market - Global Industry Analysis, Share, Size, Growth, Trends and Forecast 2017 – 2022”. The study portrays global market scenario of infrared detectors along with key insights and future projections for five years.

This new added report reveals that the global infrared detectors market is set to soar at a CAGR of 8.9% during the forecast period (2017-2022). Analysts find that technological advancements in the infrared detector technology and decline in prices in future could provide potential growth opportunities for the market.

The infrared detector is a transducer that helps in converting the radiant energy present in the infrared into a measurable form. There are basically two types of technology used in IR detectors, such as uncooled and cooled. Uncooled infrared detectors are smaller in size and have relatively lower complexity as compared to cooled IR detectors. Owing to their exponential night sighting capabilities, infrared detectors are being gradually incorporated in night vision cameras. At the same time, infrared detectors are gaining momentum as a highly significant security apparatus. In addition, IR detectors are used for various measurement and testing requirements in the manufacturing and retail sector. The report has segmented the global infrared detectors market on the basis of product-type, wavelength-type, technology-type, and EUVs (end-use vehicle’s).

Asia Pacific Region Anticipated to be Dominant

In the initial section, the report commences with an executive summary that highlights the regional forecasts on the global infrared detectors market. In addition, this subsequent section also offers comprehensions on the overall market forecast for each year of the assessment period. In terms of geography, pervasive demand for infrared applications has made APEJ one of the leading markets for infrared detectors globally. The APEJ infrared detector market is poised to grow at a higher pace than the global average during the forecast period. One of the key factors for the demand of infrared detectors in APEJ is due to the strong consumer electronics market in the region.

Global Infrared Detector Market: Growth Factors

  • Increasing use of infrared detectors in industrial and manufacturing applications is a prime factor boosting the global demand for infrared detectors during the forecast period.
  • By technology type, the cooled infrared detectors segment is anticipated to retain its dominance over 2022.
  • Amongst various applications, consumer electronics segment is expected to remain highly lucrative in 2017 and beyond.
  • Manufacturers of infrared detectors continue to bank on R&D to introduce technologically advanced products in the market, which provides lucrative growth opportunities.

Key players profiled in this study include Hamamatsu Photonics K.K, Murata Manufacturing Co., Ltd., Flir Systems Inc., BAE Systems, Inc., Sharp Corporation, OMRON Corporation, Texas Instruments Incorporated, Excelitas Technologies Corp., VIGO System S.A., and Raytheon Company

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