DUBLIN--(BUSINESS WIRE)--The "Infrared Imaging Technology - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
The global market for Infrared Imaging Technology estimated at US$5.4 Billion in the year 2022, is projected to reach a revised size of US$7 Billion by 2026, growing at a CAGR of 6.3% over the analysis period.
The U.S. Market is Estimated at $2.4 Billion in 2022, While China is Forecast to Reach $603 Million by 2026
The Infrared Imaging Technology market in the U.S. is estimated at US$2.4 Billion in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$603 Million by the year 2026 trailing a CAGR of 7.7% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 5.6% and 5.9% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 6.1% CAGR.
The market is forecast to witness robust growth opportunities driven by growing demand from non-industrial sector, growing adoption in new end-use applications, technological advancements in IR imaging technology, rising adoption in security and surveillance applications, increasing availability of reasonably priced infrared cameras.
By Application, Security & Surveillance Segment to Reach $4.1 Billion by 2026
Global market for Security & Surveillance by Application segment is estimated at US$3.2 Billion in 2022, and is projected to reach US$4.1 Billion by 2026 reflecting a compounded annual growth rate of 6.1% over the analysis period. The United States constitutes the largest regional market for Security & Surveillance segment, accounting for 42.8% of the global sales. China is poised to register the fastest compounded annual growth rate of 7.6% over the analysis period, to reach US$417.6 Million by the close of the analysis period.
Select Competitors (Total 55 Featured):
- Allied Vision Technologies GmbH
- Axis Communications AB
- Bosch Security Systems, Inc.
- FLIR Systems, Inc.
- Fluke Corporation
- General Dynamics Mission Systems, Inc.
- Hanwha Techwin Co., Ltd.
- L3Harris Technologies, Inc.
- Leonardo DRS
- New Imaging Technologies
- Opgal Optronic Industries
- Sensors Unlimited, Inc.
- Xenics NV
- Zhejiang Dali Technology Co., Ltd
Key Topics Covered:
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Influencer Market Insights
- Impact of COVID-19 Pandemic and Looming Economic Recession
- COVID-19 Impact on Infrared Imaging Technology
- Thermal Imaging as Promising Fever Screening Method to Dodge COVID-19 Storm
- Caveats Regarding Use of Infrared/Thermal Imaging for Fever Detection
- Vendors Highlight Thermal Imaging Systems to Deal with COVID-19 Challenge
- Organizations Rise Up with Thermal Imaging to Reopen & Ensure Business Continuity
- Once a Niche Market, Infrared Cameras Enjoy Rising Demand amid COVID-19
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
- Rising Significance of IR Technology in Industrial Imaging Applications
- Growing Prominence of Infrared Cameras in Inspection & Quality Control Applications
- Fast Evolving Role of Industry 4.0 & Smart Factory to Steer Future Expansion
- Major Industry 4.0 Technologies: Global Market Size (US$ Billion) for Internet of Things (IoT), Big Data, Smart Factory, Advanced Analytics, Service Robotics, and Smart Machines for 2020
- Thermal Imagers for Remote Temperature Measurement
- Rising Demand for Infrared Imaging Products from Non-Industrial Sectors
- Sustained Demand for Infrared Imaging Technology in Military Applications
- With Defense Budgets Coming Under Intense Pressure, IR Imaging Market Witnesses Challenging Times
- Defense Expenditure Worldwide in US$ Billion for the Years 2001 through 2019
- Leading Countries Ranked by Defense Budgets in US$ Billion for 2019
- Reprioritizing of Budgets Impacts Defense Spending, Affecting IR Imaging Market
- Japan Defense Budget: A Pre & Post COVID-19 Comparison (In US$ Billion) for 2021-2023
- UK Defense Budget: A Pre & Post COVID-19 Comparison (In US$ Billion) for 2021-2023
- Increase in Territorial Conflicts and Border Disputes Drive Focus onto Better Surveillance & Target Identification
- Number of Terrorist Incidents and Terrorism-related Deaths Worldwide: 2011-2018
- Focus on Soldier Modernization Programs Spurs Market Growth
- Improving Target Identification, Threat Assessment and Monitoring: Essential Capabilities of IR Imaging Systems
- US Companies Offer Support to US Air Force for EO/RF-Related Technology Development
- Imaging Infrared Technology Finds Favor in IR Missile Guidance
- Thermal Cameras: An Important System for Securing Borders
- Infrared and Thermal Cameras Find Use in ISR Operations
- Advanced LWIR Technology to Power Near-Room Temperature Thermal Imaging
- LWIR Imagers with Superior Dynamic Range
- Security & Surveillance Applications Present Significant Potential for Infrared Imaging Market
- Emerging Applications of SWIR Cameras to Boost Market
- Infrared Imaging Technology's Growing Role in Gas Detection
- Global Gas Leak Detection & Repair Market by Technology (in %) for 2020E
- IR Imaging Technology Finds Growing Use in Healthcare Sector
- Infrared Cameras for Medical Diagnostic Reasons
- IR Imaging Cameras Rise in Prominence for COVID-19 Screening
- Autonomous Vehicles Integrate IR Imaging Technology
- Global Projected Penetration Rate (%) of Autonomous Vehicles for the Years 2021, 2023 and 2025
- As Aviation Industry Looks to Resume Normal Operations, Demand for IR Imaging Systems Poised to Grow
- Expected Losses in Global Aviation Industry (In US$ Billion)
- Consumer Electronics Industry Witnesses Increasing Use of IR Technology
- IR Imaging Cameras: Sensing IR Radiation
- Primary Use-Cases of Thermal Imaging Cameras
- Glitches of Thermal Imaging Cameras
- Infrared Cameras Help Identify & Correct Distortions in Production
- Emerging Infrared Imaging Technology Applications: An Overview
- Technological Advances in IR Imaging Technology & Development of Low Cost Cameras to Propel Market
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
For more information about this report visit https://www.researchandmarkets.com/r/94w51v