Microbolometer IR Detector Market is Estimated to Reach $946.0 Million by 2019 at a CAGR of 19.4% From 2014 to 2020

FORT WORTH, Texas, March 30, 2015 /PRNewswire/ --

The global Microbolometer IR detector market was valued at $390.0 million in 2014 and is expected to reach $946.0 million by 2019, at a CAGR of 19.4% during the forecast period of 2014 to 2019.

Browse through the TOC of The global Microbolometer IR detector market for an analysis of industry trends, segments & forecasts.

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Uncooled infrared detectors are now available with many significant technological advancements, improved reliability, lower costs, and better manufacturability. One of the primary types of uncooled detectors in use today is the microbolometer, which is based on the Microelectromechanical System (MEMS). With the advent of MEMS technology, microbolometers are spreading their roots in consumer markets such as mobile phones, tablets, printer heads, and hard disks, as microbolometers are being used for temperature measurement in these devices.

Gesture recognition applications in smart TVs and tablets are also expected to drive the growth of this market. MEMS technology is available at low costs and is also being used in diverse markets such as security appliances and industrial applications.

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The cost of microbolometers would reduce drastically during the forecast period of 2014 to 2019 mainly due to the innovations that have been made, resulting in a large number of product developments. This rapid cost reduction is expected to increase the use of microbolometers in various application segments such as thermography, vision enhancement, and military.

Among the geographic segments of the market, the Asia-Pacific market is growing at a faster growth rate, as compared to other regions in the microbolometer IR detector market, owing to its continuously growing economy and large manufacturing base.

This market is segmented and forecast based on materials, format type, application, and geography. The market, in terms of materials, comprises Vanadium Oxide (VOx) and Amorphous Silicon (a-Si). On the basis of format type, the market is segmented into large, medium, and small type format. On the basis of applications, the market has been segmented into thermography, commercial vision enhancement, and military. Furthermore, the market is further segmented and forecast based on geographies, covering North America, Latin America, Europe, Asia-Pacific, and RoW.

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The European IR Detector/Sensor Module Market contributes 27.36% to the global IR detector/sensor module market. The European market segmentation has been made on the basis of type, technology, and application.

The IR detector market in Europe was valued at $95.1 million in 2013, and is expected to grow at a CAGR of 9.6% during the forecast period. The highest growth rate is expected from pyroelectric, thermopyles, and microbolometer technology. These are low-priced technologies and are found in maximum applications in the consumer electronics segment.

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