Infrared Imaging Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 - 2028
Infrared Imaging Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 - 2028
Report Digest
Nonindustrial verticals such as security and surveillance are applying infrared imaging solutions over the past few years. So, it is further boosting the infrared imaging market. There is an increasing penetration of SWIR cameras that is also contributing to the growth in the infrared imaging market. APAC is also demanding an increased number of infrared cameras that boost the infrared imaging market.
The infrared cameras are widely adopted for security and surveillance purposes as they are capable to work efficiently in harsh environments, for example, water vapor, smoke, haze, and fog. That’s one of the reasons to boost the infrared imaging market. In the military and defense vertical, infrared cameras are used efficiently for the monitoring of any human or object movement. The same industry also uses these cameras for nuclear, radiological, biological, and chemical defense detection. Such vast applications in the military and defense vertical have persuaded this industry to sign multiple contracts with industry players in the infrared imaging market.
Further, industrial and commercial buildings are also using these infrared cameras for security and surveillance purposes. They are specifically suitable for temperature measurement because they allow a safer distance between subjects and operators. Also, it needs less manpower which makes the infrared camera more suitable for different businesses.
The infrared cameras are costly compared to other market substitute technologies. So, it further hindering the growth in the infrared imaging market. SWIR cameras are more expensive compared to MWIR and LWIR cameras. The sensors used in the SWIR cameras are indium gallium arsenide (InGaAs). This sensor is costly and accounts for the major share of the entire product price. It makes infrared cameras more costly and hampers growth in the infrared imaging market. Furthermore, the glass lens required to support the indium gallium arsenide sensor is expensive compared to the lenses used in another camera, so it also curtails growth in the infrared imaging market.
Infrared Imaging Market – Introduction
Infrared (IR) imaging is a technique used to capture invisible infrared image to convert it into a visible image. Infrared light is invisible to human eye and needs IR cameras and imagers. Infrared imaging devices are equipped with special sensors which enables them to operate even in darkness, and make them a viable choice for various applications. Infrared imaging market is rapidly accelerating owing to the growing adoption of infrared imaging systems for applications, such as security check, and surveillance of important equipment in enterprises.
Infrared imaging was initially developed for military applications, such as binoculars, gun lights, and night vision cameras, however, now it is widely used for various commercial purpose due to growing technology advancement in this space. As closed circuit television (CCTV) camera technologies fail to provide proper detection of image in darkness, infrared imaging technology is gaining traction for the same. Infrared imaging system can easily penetrate through dust, smoke, fog and even during the worst lighting conditions to capture images, which is fueling its adoption for various applications. These driving factors pushed the infrared imaging market to value roughly US$ 5 Billion in 2018.
Infrared Imaging Market – Competitive Landscape
- In April 2019, publicly traded sensor technology developer FLIR Systems made a strategic investment in an outsourced drone imaging company DroneBase to offers its thermal product solutions to DroneBase customers.
- In March 2019, responding to the growing need to protect documents inside & outside of the enterprise, General Dynamics Mission Systems has inked an OEM deal with Vera. This agreement is aimed at incorporating Always-on File Security into Route 66 Cyber Enterprise Digital Rights Management software as a service and on-premises offerings of General Dynamics.
Bosch Security Systems
Founded in 1968, Bosch Security Systems, Inc. is a subsidiary of Robert Bosch GmbH and designs and supplies security equipment for communications, access control, video surveillance, and intrusion and fire detection applications across the world. Bosh Security Systems has an extensive product portfolio. Some of the company offerings are access control and system solutions; analog cameras, IP cameras, monitors, accessories, digital video recorders, and video software; conference systems, and fire alarm systems.
Axis Communications AB
Founded in 1984, Axis Communications AB is headquartered in Lund, Sweden, with additional offices in Washington, DC; Nairobi, Kenya, and Irvine, California. The company operates as a subsidiary of Axis AB (publ), and develops and offers a wide range of video surveillance & access control solutions. Some of them are fixed cameras, thermal cameras, fixed domes, panoramic cameras, HD and megapixel cameras, PTZ cameras, and outdoor cameras; and video encoders & video server racks. Axis Communications AB also provides Network Radar Detector for area detection of moving objects in diverse light and weather conditions.
Infrared Integrated Systems Ltd
Founded in 1996 and headquartered in Northampton, United Kingdom, InfraRed Integrated Systems Ltd. is a subsidiary of TGA Industries Limited. InfraRed Integrated Systems Ltd. offers a wide range of products and services for people counting & real time queue management across the United States and internationally. The company also offers thermal sensors for diverse applications across various industries.
General Dynamics Mission Systems, Inc,
Founded in 2002, General Dynamics Mission Systems Inc, is headquartered in Fairfax, Virginia, and was formerly known as General Dynamics Advanced Information Systems, Inc. General Dynamics Mission Systems, is a subsidiary of General Dynamics Corporation, and designs, develops, and manufactures imagery sensors, secure communications systems, cyber products, and command & control systems for customers in the United States and beyond.
Infrared Imaging Market – Dynamics
Wide Industrial & Commercial Applications Driving Adoption of Infrared Imaging
The infrared imaging market is growing at a steady pace due to their growing adoption for industrial and commercial use. This burgeoning adoption of infrared imaging systems is attributed to the growing development in high speed and advanced IR cameras, coupled with their rising implementation in military application under soldier modernization programs. Additionally, the introduction of high definition imaging technology has also triggered the adoption of infrared imaging systems in various sectors.
High Cost & Potential Inaccuracy in Result Impeding Growth in Infrared Imaging Market
High cost of infrared imaging systems has been making some enterprises reluctant towards the adoption of this technology. Additionally, as infrared imaging system can’t detect the difference in objects with a similar range of temperature, it often leads to inaccurate results. These factors are challenging the growth of stakeholders, who are in the pursuit of leveraging innovation to develop low-cost and more precise infrared imaging systems.
Infrared Imaging Market – Segmentation
Based on technology, the infrared imaging market is segmented into:
- Cooled Infrared Imaging
- Uncooled Infrared Imaging
Based on application, the infrared imaging market is segmented into:
- Security & Surveillance
- Monitoring & Inspection
- Detection
Based on wavelength, the infrared imaging market is segmented into:
- Near Infrared
- Shortwave Infrared
- Mid-wave Infrared
- Long-wave Infrared
Based on vertical, the infrared imaging market is segmented into:
- Industrial
- Nonindustrial
The reports at TMR Research provide qualitative solutions that break the barriers of doubt or uncertainties when the stakeholders plan to expand their growth reach. The researchers compile the necessary information that enlightens the CXOs about the current growth opportunities in a specific market and enables them to make the most of the opportunities.
TMR Research is a leader in developing well-researched reports. The expertise of the researchers at TMR Research makes the report stand out from others. TMR Research reports help the stakeholders and CXOs make impactful decisions through a unique blend of innovation and analytical thinking. The use of innovation and analytical thinking while structuring a report assures complete and ideal information of the current status of the market to the stakeholders.
TMR Research has rich experience in developing state-of-the-art reports for a wide array of markets and sectors. The brilliance of the experts at TMR Research and their alacrity to conduct thorough research and create phenomenal reports makes TMR Research better than others.
5-Point Growth Formula
The 5-point growth formula developed by TMR Research provides an insight to the stakeholders and CXOs about the current situation in the market. The growth formula makes the report a perfect companion for the stakeholders and CXOs.
The 5-point growth formula includes the following points:
- Current and Future Threats
- Accurate Trend Analysis
- Regional Assessment
- Industrial Analogy
- COVID-19 Impact
Current and Future Threats
Along with studying the opportunities necessary for growth, threats are also an important aspect to look upon for the companies and stakeholders in a specific sector. TMR Research studies every negative aspect that will hinder the growth of a specific area of business and includes it in the report. The stakeholders and CXOs will have the benefit of assessing the threat and take the necessary steps to prevent the hindrance caused due to the threats.
Accurate Trend Analysis
Keeping up with the latest trends is crucial in any business or sector. While stakeholders are aware of the trends that are on the surface, TMR Researchers find trends that are deeply entrenched in the particular market or sector. The reports are constantly updated with the latest trends so that the stakeholders and CXOs can derive benefits from the trends and generate good revenues.
Regional Assessment
Demography forms an important part of the growth pattern of all the markets. Diving deep into the demographics enables maximum output from specific areas. The TMR Research team assesses every region and picks out the vital points that have a large impact on the growth of a market.
Industrial Analogy
The analysts at TMR Research conduct an all-round analysis on the competitive landscape of the market. The observations recorded by the analysts are added to the reports so that every stakeholder gets a glimpse of the competitive scenario and frame their business plans according to the situation.
COVID-19 Impact
The COVID-19 outbreak has changed the growth projections of numerous sectors and businesses. The analysts at TMR Research have conducted a conscientious survey on the markets after the pandemic struck. The analysts have put forth their brilliant and well-researched opinions in the report. The opinions will help the stakeholders to plan their strategy accordingly.
The reports offer answers to the top 7 questions that revolve around the growth of the market
- What are the diverse growth parameters influencing the market?
- Which regions will contribute largely to the growth of the market
- What are the recent innovations and technological advancements in the market?
- What are the emerging trends across the market?
- How has COVID-19 affected the market?
- What will be the post-pandemic scenario of the market?
- What are the major threats that will dent the growth prospects of the market?
Flat 10% discount on Single User License if you prebook this report
Flat 10% discount on Multiple User License if you prebook this report
Flat 10% discount on Corporate License if you prebook this report