Infrared Imaging Market

1. Infrared Imaging Industry worth $9.6 billion by 2028 The report "Infrared Imaging Market by Technology (Cooled & Uncooled Infrared Imaging), Wavelength (Near, Shortwave, Mid-wave, & Long-wave Infrared), Application (Security & Surveillance, Monitoring & Inspection, Detection), Vertical - Global Forecast to 2028" The infrared imaging market is expected to reach USD 9.6 billion by 2028 from USD 6.7 billion in 2023, at a CAGR of 7.3% during the 2023–2028 period. The major factor driving the market growth of the infrared imaging market is rising adoption of infrared imaging owing to ability of infrared imaging technology that enable to be used in harsh environments and rise in use of SWIR cameras in machine vision applications. Uncooled technology segment to witness highest CAGR of the infrared imaging market during the forecast period. Uncooled cameras in infrared imaging have experienced significant growth due to several key factors. Firstly, their cost-effectiveness compared to cooled cameras eliminates the need for expensive cooling systems, making them more accessible to various industries. Secondly, their smaller size and portability enable integration into different platforms, enhancing flexibility. Thirdly, uncooled cameras' durability and reliability in harsh environments make them suitable for demanding applications. Their energy efficiency and instant startup time are advantageous in power-constrained and time-critical scenarios. Additionally, continuous monitoring capabilities and technological advancements have further increased adoption across security, defense, automotive, industrial, and healthcare industries. By wavelength, Long-wave infrared (LWIR) is anticipated to capture the largest market share in infrared imaging market. The integration of LWIR cameras into devices enhances their capabilities through the addition of thermal imaging features. These cameras have become smaller thanks to technological advancements, facilitating their seamless integration into smartphones, drones, wearables, and other devices. This integration enables real-time thermal imaging, granting users immediate access to thermal information for various applications, including inspections, maintenance, and security. Security & Surveillance by application to hold largest market share during the forecast period in infrared imaging market. In the field of security & surveillance, incorporating infrared imaging is crucial for intrusion detection and perimeter monitoring, even under low-light conditions. It enables the use of thermal analytics to identify anomalies and enhances visibility in challenging environments like fog or smoke. Infrared cameras facilitate covert operations, strengthen facial recognition capabilities, and play a vital role in emergency response scenarios by aiding in search and rescue operations. Non-industrial vertical is expected to register the highest CAGR during the forecast period in the infrared imaging market. In 2023, the non-industrial vertical accounted for the largest share of the infrared imaging market and is also expected to record the highest CAGR during the forecast period. The non-industrial segment of the infrared imaging market has experienced substantial growth. The military & defense, and civil infrastructure segments generate the highest demand for infrared imaging products in the non-industrial vertical. The military utilizes infrared imaging for enhanced situational awareness, target acquisition, and night vision capabilities.

2. Asia Pacific is expected to register the highest CAGR during the forecast period in the infrared imaging market. The Asia Pacific region has witnessed significant growth in the infrared imaging market due to several factors. Firstly, the increasing defense spending by countries in the region has driven the demand for infrared imaging systems for military applications. Secondly, the rising adoption of infrared cameras in sectors like industrial automation, surveillance, and transportation has boosted market growth. Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=593 The report profiles key players such as Teledyne FLIR LLC (US), Fluke Corporation (US), Raytheon Technologies Corporation (US), Leonardo DRS (US), Axis Communications AB (Sweden), L3Harris Technologies (US), Inc, Xenics nv (Belgium), Zhejiang Dali Technology Co., Ltd. (China), OPGAL Optronics Industries Ltd (Israel) and Allied Vision Technologies GmbH (Germany). About MarketsandMarkets™ MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients. The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing. Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem.Our insights and strategies are molded by our industry experts, cutting-edge AI- powered Market Intelligence Cloud, and years of research.The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry. To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.