Infrared camera market to cross 3.5 million units
According to the latest report, by Global Market Insights, the market valuation of infrared cameras will cross $10 billion by 2026. Growing demand for autonomous vehicles, declining prices of IR cameras, rise in military spending in developing countries, and increasing need for surveillance across various end-user sectors are proliferating the market growth.
The infrared camera market report is titled ‘IR Camera Market by Product (Fixed, Handheld, Pan-Tilt-Zoom), Technology (Cooled, Uncooled), Wavelength (Near Infrared, Short-Wave Infrared, Mid-Wave Infrared, Long-Wave Infrared), Application (Automotive, BFSI, Commercial, Government & Defense, Healthcare, Industrial, Residential), Regional Outlook, Competitive Market Share & Forecast 2026’.
The infrared camera market is proliferating due to mass adoption, coupled with a range of diverse applications in commercial, industrial, and government sectors. High investments from firms to ensure a high-surveillance system and increasing military spending in the Middle East & Africa and Asia Pacific are the key factors driving the market revenue.
The infrared cameras are used in the healthcare sector to detect various disease patterns by observing body temperature. The portability and ruggedness of IR cameras are due to their compact size and low weight, which will offer an additional advantage as medical equipment for doctors. Non-contact measurement process ensures that patients are not unnecessarily provoked. This will help veterinarians and childcare specialists to easily detect diseases. These cameras offer flexible & budget-friendly diagnostic methods to the healthcare sector.
The Europe infrared camera market size will witness around six percent growth during the forecast timeline. Infrared screening of residential buildings for energy audit processes is anticipated to drive the demand for handheld infrared cameras. In the region, industry players are focusing on improving their production facilities to improve product capabilities.
For instance, in March 2018, Xenics increased its production capabilities, modernised its equipment, reviewed processing techniques, and added extra cleanroom space. This helped the company to significantly reduce the dark current in SWIR detectors, enhance the signal-to-noise ratio, and offer a larger dynamic range in its SWIR cameras.
Some major findings of the IR camera market report are:
- India is planning to set up high-tech surveillance cameras along its international borders with China, Pakistan, Bangladesh, Nepal, and Myanmar.
- Low-entry barriers for new entrants are intensifying the competition among market players.
- Major Infrared camera market players include Fujifilm Holdings Corporation, Fluke Corporation, FLIR Systems, DIAS Infrared , Axis Communications AB, Testo AG, SiOnyx, LLC, Seek Therma, Raytheon Company, Panasonic Corporation, Optris, and OPGAL OPTRONIC INDUSTRIES.
- Proliferation in the adoption of IR cameras in electrical/mechanical, building, automation/process control, maritime, and security applications will drive the market growth.
- Partnerships among manufacturers & integrators will offer new dimensions to the automotive & aerospace sectors.
- Global automakers are focusing on integrating infrared cameras in Advanced Driver Assistance Systems (ADAS) to create efficient, safer, and secure autonomous vehicles
- Decrease in prices of infrared sensors & detectors will propel the market size.
- Medical & research institutes are increasingly adopting handheld IR cameras due to their effectiveness in the respective fields.