NEW YORK, Aug. 8, 2016 /PRNewswire/ -- The global market for infrared imaging is expected to grow at a CAGR of 8.32% between 2016 and 2022 from USD 6.43 billion in 2015 to USD 11.36 billion by 2022. Surge in demand for infrared imaging in nearly all commercial applications, advantages of LWIR cameras with uncooled technology, and the decreasing cost of IR detectors are some of the major factors driving the growth of the infrared imaging market worldwide.
"Uncooled technology expected to grow at the highest rate in the infrared imaging market"
An uncooled technology-based IR camera is less expensive compared to the cooled technology-based IR camera. Uncooled infrared image sensors are smaller and built with fewer moving parts. Not only does this make them less expensive than cooled cameras but they also have a much longer operating duration. These detectors are widely used in surveillance, aerospace & defense, homeland security, and military applications.
This factor is expected to drive the growth of the market for uncooled technology-based IR imaging products during the forecast period.
"North Americas and Asia-Pacific are the major markets for infrared imaging"
North America is expected to hold the largest share of the IR infrared imaging market, while the APAC market is estimated to grow at the highest growth rate. Continuous technological advancements in infrared technologies in countries such as the U.S., Canada, and Mexico is expected to drive the North American IR infrared imaging market, while shifting focus of many leading companies in IR imaging infrared imaging toward most of the APAC countries and foray into growing end-user market is expected to lead the APAC region.
In the process of determining and verifying the market size for several segments and subsegments gathered through the secondary research, extensive primary interviews were conducted with key people in the infrared imaging industry. The break-up of primary participants for the report is shown below:
- By Company Type: Tier 1– 60%, Tier 2 – 30%, and Tier 3 – 10%
- By Designation: C-level Executives – 65%, Managers – 15%, and others – 20%
- By Region: North America – 50%, Europe – 15%, Asia-Pacific – 30%, and RoW – 5%
The report profiles the key players in the infrared imaging market with their respective market share analysis. The prominent players profiled in this report are FLIR Systems, Inc. (U.S.), DRS Technologies, Inc. (U.S.), Axis Communications AB (Sweden), Fluke Corporation (U.S.), Opgal Optronics Industries Ltd. (Israel), Bosch Security Systems, Inc. (Germany), L-3 Communications Holdings, Inc. (U.S.), Zhejiang Dali Technology Co., Ltd. (China), Sofradir Group (France), and General Dynamics Mission Systems, Inc. (U.S.).
The report will help leaders/new entrants in this market in the following ways:
1. This report segments the infrared imaging market comprehensively and provides the closest market size estimation for all subsegments across different regions.
2. The report helps stakeholders understand the pulse of the market and provides them with the information on key drivers, restraints, challenges, and opportunities for market growth.
3. This report would help stakeholders understand a competitor better and gain more insights to improve their position in the business. The competitive landscape section includes competitor ecosystem, new product developments, partnerships, and mergers & acquisitions.
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