Sarasota, FL -- (SBWIRE) -- 10/08/2018 -- Zion Market Research has published a new report titled "Infrared Detectors Market by Type (Mercury Cadmium Telluride, Indium Gallium Arsenide, Pyroelectric, Thermopile, Micro-bolometer, and Others), by Technology (Cooled IR Detector Technology and Uncooled IR Detector Technology), by Wavelength (Short Wave Infrared, Long Wave Infrared and Mid Wave Infrared), and by Application (Automotive, Consumer Electronics, Medical, Military, Security and Other Applications): Global Industry Perspective, Comprehensive Analysis and Forecast, 2017 - 2024". According to the report, the global infrared detectors market accounted for around USD 307 million in 2017 and is expected to reach approximately USD 700.1 million by 2024, growing at a CAGR of around 12.5% between 2018 and 2024.

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Infrared detectors are applicable for several applications in the medical, scientific, security, military, industrial, and automotive areas. Common applications of infrared detectors such as flame detection, gas leaking detection, rail safety, and alcohol level testing for DUI's, temperature sensing, anesthesiology testing, space operations petroleum exploration, water, and steel analysis. Depending on the heat of IR particles the picture appears in different colors in IR detectors, sleep lab monitoring, assist night driving, night flying and night surveillance, search and rescue missions and wildlife observation. Infrared motion detectors are also used in home alarm systems. IR detectors are also used to find criminals which may be hiding in dark areas.

Booming demand from consumer electronics applications such as tablets, smart TVs and smartphone paired with the use of night vision ability in military applications are the two major factors driving the infrared detectors market. Furthermore, increasing demand for security at commercial environments such as offices, hotels, airports, and hospitals, increasing use of uncooled infrared technology in remote sensing and hyperspectral imaging favors the infrared detectors market growth. Moreover, growing awareness of IR detectors among manufacturing and industrial applications is expected to flourish the demand for infrared detectors in the near future. On the other hand, the high cost of chemical compounds such as indium gallium arsenide (InGaAs) and mercury cadmium telluride (MCT) is expected to restrict infrared detector's market growth. Nonetheless, increasing scope for consumer electronics application may disclose new avenues for infrared detectors market in the near future.

Thermopile infrared detectors dominated the infrared detectors market in 2017; owing to the preference for contactless temperature measurement in many applications. Pyroelectric and micro-bolometer infrared detector is expected to become the another most lucrative type segment in the forecast period. InGaAs and MCT are a costly type of infrared detectors and are majorly used in military applications.

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Increasing use of uncooled infrared technology in remote sensing and hyperspectral imaging is expected to prompt the demand for uncooled IR detector technology segment in the coming years. Cooled IR detector is also expected to acquire a significant market share in the analysis period. Based on wavelength, LWIR (Long Wave Infrared Wavelength) segment is estimated to be the largest market segment over the analysis period owing to its extensive application range and low price. Microbolometer, Thermopylae, and pyroelectric infrared detector type are well-liked within LWIR spectral range.

Security and consumer electronics together acquired the largest market share for infrared detectors market in 2017. The growth of this segment is mainly attributed due to the demand for security at commercial environments such as offices, hotels, airports, and hospitals and high demand from consumer electronics applications such as tablets, smart TVs, and smartphone. The military segment is expected to experience significant growth owing to the increasing use of infrared detectors for night vision ability in military applications

Some of the key players in the global infrared detector market are Texas Instruments Inc., Excelitas Technologies Corp., Hamamatsu Photonics KK, Murata Manufacturing Co. Ltd., Raytheon Co., ULIS, FLIR Systems Inc., Melexis NV, Omron Corporation, and Vigo System S.A., among others.

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The report segments the global infrared detectors market as follows:

Global Infrared (IR) Detectors Market: Type Segment Analysis

Mercury Cadmium Telluride
Indium Gallium Arsenide
Pyroelectric
Thermopile
Micro-bolometer
Others

Global Infrared (IR) Detectors Market: Technology Segment Analysis

Cooled IR Detector Technology
Uncooled IR Detector Technology

Global Infrared (IR) Detectors Market: Wavelength Segment Analysis

Short Wave Infrared (SWIR)
Long Wave Infrared (LWIR)
Mid Wave Infrared(MWIR)

Global Infrared (IR) Detectors Market: End-User Segment Analysis

Automotive
Consumer Electronics
Medical
Military
Security
Others

Global Infrared Detectors Market: Regional Segment Analysis

North America
The U.S.
Europe
UK
France
Germany
Asia Pacific
China
Japan
India
Latin America
Brazil
The Middle East and Africa