Northbrook, IL -- (SBWIRE) -- 06/08/2021 -- The Infrared detector market is expected to grow from USD 498 million in 2020 and reach USD 683 million by 2025; it is expected to grow at a CAGR of 6.5% during the forecast period. The high demand for infrared detectors in the nonindustrial vertical, especially, for people and motion sensing, temperature measurement, and security and surveillance applications is are key factors driving the infrared detectors market. The increasing penetration of infrared technology for gas analysis and fire detection, and the high popularity of uncooled infrared detectors are a few other factors having a positive impact on the growth of the infrared detector market.
Infrared detector market for nonindustrial vertical to grow at highest CAGR during forecast period
The nonindustrial vertical is expected to account for the largest share of market and also witness the highest CAGR in the market during the forecast period. Military & defense and residential & commercial are major segments within the nonindustrial vertical that generate the highest demand for infrared detectors, especially for people and motion sensing, temperature measurement, and security and surveillance applications.
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Long-wave infrared (LWIR) detectors to account for largest market share during forecast period
The infrared detector market, by wavelength, is segmented into NIR & SWIR, MWIR, and LWIR. High demand for LWIR products from the military & defense vertical for the security and surveillance application is one of the major factors leading to the dominant position of the LWIR detectors segment in market. LWIR detectors have also penetrated significantly in various industries, such as residential & commercial, aerospace, automotive, food & beverages, and healthcare. High demand for these detectors from the aforementioned industries can be mainly attributed to their lower cost than most MWIR and SWIR detectors.
North America to account for largest market share during forecast period
North America is expected to account for the largest share of market during the forecast period. People and motion sensing, temperature measurement, and security and surveillance are the major applications of infrared detectors in this region. Military & defense and residential & commercial are the key demand-generating segments for infrared detectors for the above-mentioned applications. Several companies offering infrared detectors have their presence in this region, which further adds to the growth of the market in North America. Excelitas Technologies (US), Texas Instruments (US), Honeywell International (US), and FLIR Systems (US) are some of the infrared detector providers with presence in North America.
Key Market Players
Key players in the infrared detector market include Excelitas Technologies (US), Nippon Ceramic (Japan), Hamamatsu Photonics (Japan), Murata Manufacturing (Japan), and FLIR Systems (US). Excelitas Technologies is one of the leading players in market with over 140 years of experience and expertise in the field of photonics. It has a strong and diverse product portfolio of infrared detectors comprising both photon and thermal detectors. The company is focused on strengthening its product portfolio by launching new products in the market. It has been one of the most active companies in market, in terms of new product developments for emerging applications and technologies. Excelitas Technologies has adopted various growth strategies, such as collaborations, acquisitions, and product developments.