27 January 2020 - The Global Infrared
Camera Market was $4.18 billion
in 2015. It is expected to grow at CAGR of 9.5%. Declining prices due to
technological development and increased demand through verticals including
defense and security industries are projected to fuel the growth of infrared
camera market in the forthcoming years. Moreover, increasing integration of
cutting-edge thermal cameras in commercial applications and smartphones coupled
with high demand for surveillance and security cameras with greater pixels per
inch across the defense industry provides numerous opportunities to the
Infrared camera market.
Due
to rising adoption of IR cameras in industrial and commercial applications,
these are used across numerous surveillance & security applications.
Further, increased commercialization due to developments in the microbolometer
technology is also anticipated to drive market growth in the upcoming years.
High-resolution
smartphones and cameras are anticipated to provide an ample opportunity for the
growth of the market. Moreover, infrared cameras play a significant role in
providing a night-vision option for vehicles. For example, FLIR Systems offers
camera cores for BMW, Rolls Royce, Mercedes-Benz, and Audi.
Material Insights
Germanium
lenses dominate the IR camera market share, followed by silicon and is
anticipated to retain its dominance from 2016 to 2024 because they are
non-hygroscopic and have advanced mechanical properties. Further, Germanium is
a good emitter of the infrared, which will impact positively on the market
growth of the IR camera over the forecast period.
The
ZnSe (Zinc Selenide) lenses are estimated to grow at a higher rate than the
global average. ZnSe lenses have greater resistance to thermal waves and low
absorption coefficient. Sapphire segment is very durable, extremely hard and
show a good transmission range. This section of lenses can be used in extreme
weather conditions. Silicon’s low density (2.329 g/cm3) is perfect for use in
the weight-sensitive applications. Silicon lens is a less brittle alternative
for Germanium lens.
Application Insights
The
global infrared camera market has witnessed substantial demand due to
increasing adoption of it in several applications. The defense sector is
anticipated to dominate the market over the upcoming years, owing to higher
investments in the Asia Pacific and the Middle East regions. Infrared camera
applications for infrastructure cabling and video surveillance are also
anticipated to fuel market growth. Rising adoption in the commercial
application sector is expected to extend fuel market growth. The medical
imaging segment is estimated to witness substantial growth over the upcoming
years. The medical imaging industry is supposed to see significant growth over
the next years. Increasing demand in hospitals to detect life-threatening
diseases like tumors or cancer urge Infrared camera market adoption. This can
be accredited to the increase in the use of infrared camera across several
applications including security & surveillance, thermography, and
transportation systems. Rising demand in hospitals to detect
life-threatening
diseases like tumors or cancer urge Infrared camera market adoption. Also, IR
camera can be used in several applications like security & surveillance,
thermography, and transportation systems.
Regional Insights
North
America dominated the overall market share of the IR cameras in 2013.
Technological developments coupled with the existence of the primary industries
are anticipated to contribute to the regional market growth. Asia-Pacific
countries are expected to grow at a higher pace over the next six years. Rising
in defense spending, particularly in China, Japan, South Korea and India, it is
expected to impact the regional market positively.
Competitive Insights
Surveillance
and Security dominate the market share of the revenue of commercial
applications, and a few main IR camera manufacturers such as FLIR Systems
(U.S.), Samsung Techwin (South Korea), Axis Communications AB (Sweden) are
progressively focusing on this market. Technological developments paired with a
reduction in cost and price are anticipated to be the primary factors driving
infrared camera demand. Other market players include Seek Thermal Inc.,
Raytheon Company and Testo AG, Fluke Corp.
Market Segment:
IR Camera Material Outlook (Revenue, USD
Million, 2012 - 2020)
• Germanium
• Silicon
• Zinc Selenide
• Sapphire
IR Camera Application Outlook (Revenue,
USD Million, 2012 - 2020)
• Military & Defense
• Industrial
• Commercial
• Medical Imaging
• Others
IR Camera Regional Outlook (Revenue, USD
Million, 2012 - 2020)
• North America
• Europe
• Asia Pacific
• RoW
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