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Infrared Emitter & Receiver Market Estimated to Grow at a CAGR of 4.95% During 2021-2026

(IT-NEWSWIRE.COM, December 21, 2021 ) Infrared Emitter & Receiver market size was valued at $210.5 million in 2020 and it is estimated to grow at a CAGR of 4.95% during the period 2021-2026, primarily due to increasing investment in the defense and military sector. The rising popularity of IR sensors, IR imaging devices cameras for border security and various security applications is one of the main growth drivers of this technology. Apart from that, increasing adoption infrared technology across various industries for security-surveillance, motion detection, moist detection, temperature detection, sensing and measurement are set to drive the growth of Infrared Emitter & Receiver industry. Apart from that, increasing usage of IR technology in healthcare sector, construction, consumer electronics, works as a major growth factor of this market. Furthermore, infrared spectroscopy is perfect for measurement and quality control along with forensic applications related to criminal as well as civil cases, play a crucial role in the growth of infrared emitter and receiver market.Hence, the above mentioned factors are set to boost the market growth during the forecast period 2021-2026.

Infrared Emitter & Receiver Market Segment Analysis – By Wavelength Range

By wavelength range, this market is segmented into near infrared, short-wave infrared (SWIR), mid-wave infrared (MWIR), long-wave infrared (LWIR) and Far Infrared. LWIR held major share 26.91% in 2020, due to its suitability for fire-fighting and military applications, as LWIR imaging works better than MWIR in fog or rainy conditions. In May 2020, Sierra-Olympic technology launched a new Vayu Long-wave Infrared (LWIR) HD thermal camera with a complete HD and un-cooled VOX microbolometer array, ideal for unmanned aerial vehicles (UAVs) airborne photogrammetry, unmanned ground vehicles (UGVs) as well as unmanned surface vehicles (USVs) and persistent security surveillance. The launch of such technologically advanced products will fuel the growth of this market. Apart from that, unlike MWIR technology, un-cooled LWIR microbolometers offer consistent images during the day and nighttime, which make it perfect for nighttime vision applications. In August 2020, Tamron launched its three new shutters less compact LWIR camera modules, highly beneficial for night-time nursing care, night-time surveillance, abnormal temperature fluctuations to monitoring systems and others.

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Infrared Emitter & Receiver Market Segment Analysis – By End-User Industry

Based on end-user industry, Infrared Emitter & Receiver market is segmented into Automotive, Construction, transportation and logistics, Aerospace, Consumer Electronics, Military & Defense, Law enforcement, healthcare and others. Healthcare industry is the fastest growing segment in Infrared Emitter & Receiver market and estimated to grow at around CAGR 5.28% during forecast period 2021-2026. Infrared Imaging technology is highly being used for various applications related to detection, diagnosis as well as treatment processes of various diseases, in different areas of healthcare sector such as rheumatology, dermatology, orthopedics and others, which creates the high demand for this technology in this sector. It helps in detection of breast cancer, arthritis, repetitive strain injury, muscular pain, circulatory as well as nervous system related problems, heat patterns, blood flow in body tissues and others. Apart from that, the rising popularity of Infrared Photo biomodulation therapy for light over injuries, healing of soft tissues, improvement of glucose metabolism, reduction of inflammation, acute and chronicle pain relief, plays a major role in the growth of this market. Furthermore, clinical imaging is used for research and development work of healthcare sector for the betterment of patient care solutions as well as medical imaging. Apart from that, out-break of global pandemic Covid-19 has accelerated the deployment of infrared technology. In March 2020, Seek Thermal launched Seek Scan, specifically designed to deliver accurate skin temperature while enabling social the protocols of social distancing. Similarly, in June 2020, EVM launched certified, “Made in India” Infrared thermometer, which is cost effective, battery oriented, easy to use, no contact thermometer. In October 2020, Infrared Camera, Inc. helped hospitals to safeguard the visitors and their staff members by providing ICI’s temperature screening system. Infrared technology products are highly being used in healthcare sector, thereby driving the adoption in the forecast period 2021-2026.

Infrared Emitter & Receiver market Segment Analysis – By Geography

North America held the highest market share of 30.56% of global IR emitter and receiver market in 2020, owing to the early adoption of this technology and growing requirement for security surveillance system coupled with high investment in defense sector. According to a recent report, in 2019, United States invested a massive amount of fund in defense sector, which widened the gap between the U.S. and the second largest defense spender, China. This report shows that, the total amount invested in weapon procurement and weapon R&D projects by the U.S. alone exceeded China’s total defense budget. Such investments on defense sector create huge demand for IR emitter and receiver technology. Furthermore, the presence of major market players fuels the growth of this market. In May 2020, FLIR launched its new MWIR thermal camera, FLIR RS8500 MWIR, which is a combination of MWIR detector and a telescope, suitable for various industrial applications such as outdoor research, military, aerospace and defense, public as well as private research labs, film production and others. The above-mentioned factors are poised to create tremendous growth opportunities for Infrared Emitter and Receiver Market of North America during the forecast period.

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Infrared Emitter & Receiver Market Drivers

Adoption of Infrared (IR)Technology for security & Surveillance:

The adoption of IR imaging for security and surveillance is one of the main drivers of the market. Growing security concerns and increasing tensions across countries are triggering the need for better surveillance system, resulting in rising adoption of this technology. IR technology captures a clear picture that cannot be seen with naked eyes, making it perfectly suitable as a 24*7 surveillance system for border safety, harbor security, remote monitoring, site protection, search and rescue missions, hidden things detection and others, thus affecting the growth of IR emitter and receiver market positively. In January 2020, the Indian Army announced about their plan of purchasing over 22,000 thermal imaging sights and night vision devices for infantry assault rifles, to decrease the number of causalities during cross-border fire or anti-terror operational missions. Apart from that, the growing incidence of inter border smuggling, public crimes and other illegal crimes work as a key influence for the adoption of infrared sensors, infrared spectroscopy and infrared imaging cameras, which in turn, works as a growth driver for this market. In March 2020, FLIR announced the launch of Ranger HDC MR, a High-Definition Mid-Range thermal imaging Surveillance system for the detection of illegal activities in ports and borders and it also boosts the surveillance capabilities of border and infrastructure security. Such developments will help the infrared emitter and receiver market to grow with the increasing requirement for surveillance.

Growing demand of Infrared Sensors:

Another driver of this market is growing demand for infrared sensors, due to its several benefits such as greater measurement details, longer operating lives, lower power consumption, ability to read moving objects as well as motion detection and others that affects the growth of IP emitter and receiver market positively. Apart from that, unlike ultrasonic sensors, this sensor can quantify the distance to the delicate objects and reacts faster that thermocouple, which increases the adoption of IR sensors that ultimately creates huge growth opportunities for this market. IR sensors use an IR emitter and IR receiver to detect objects through IR signals. IR sensors are highly being used for flame detection, motion detection, mobile robots, consumer electronics, wireless communication, home along with process automation and others. In March 2021, Mitsubishi Electric announced their plans of launching a new Electric Diode InfraRed (MeIDIR) sensor, with a wide field of view (FoV) and 80×60 pixel resolution, which is perfectly suitable for applications related to security, HVAC systems, smart building, thermal scanner, human counting along with their specific human actions including running, walking, raising hands and others.

Infrared Emitter & Receiver Market Challenges

Various Issues of this technology:

Even though the usage of infrared technology is rapidly growing, few drawbacks of this technology hamper the growth of this market. IR technology cannot work through hard objects such as dividers, entryways, as the walls, doors, smoke, dust, fog and others have vast affect on the IR frequencies. Apart from that, IR technology can affect health negatively, including eye damage. If not using with extreme care, the damage can be long-lasting or even permanent. In case of screen and control applications, this technology can control one device at a time; if the object is in the line of sight (LOS). Furthermore, its rate of Information transmission is far lower than wired technology, which also harms the growth of this market. Hence, the above-mentioned factors will hamper market of IR technology, which will have huge impact on the growth of IR emitter and receiver market.

Infrared Emitter & Receiver Market Landscape

Partnerships and acquisitions along with product launches are the key strategies adopted by the players in the Infrared Emitter & Receiver market. As of 2020, the Infrared Emitter & Receiver market outlook is consolidated with the top players including FLIR Systems, Inc.,Cree, Inc., Honeywell International, Inc., Raytek Corporation, Texas Instruments Inc., Lite-On Technology, Inc., Murata Manufacturing Co., Ltd., Rohm Co., Ltd., Osram Opto Semiconductors GmbH, Vishay Intertechnology, Inc.and others.

Acquisitions/Technology Launches

In April 2020, Quebec-based Company, TELOPS launched a new line of MWIR cameras for better performance in general thermography applications.

In July 2019, FLIR Systems had acquired New England Optical Systems (NEOS), which enhanced FLIR’s expertise in development of complex infrared optical assemblies in short-wavelength , mid-wavelength and long-wavelength infrared spectrums, used in drones, combat vehicles, astronomy and other military applications.

Key Takeaways

LWIR is anticipated to witness the fastest growth during the forecast period 2021-2026, its suitability for various military and fire-fighting applications are the key factors behind this growth.

With growing crime rates, investment in defense and military sector is rising, due to which this sector will register highest market growth during 2021-2026.

North America dominated the market with major market share of 30.56% in 2020, owing to early adoption of IR technology, increasing investment in defense sector and others.

Adoption of infrared technology for security-surveillance services and growing demand for IR sensors are few of the main driving factors of the market.

Top market players of Infrared Emitter & Receiver market include FLIR Systems, Inc., Cree, Inc., Honeywell International, Inc., Raytek Corporation, Texas Instruments Inc., and others.

Relevant Report Titles:

A. Infrared Sensors Market

B. Infrared Imaging Market and Wide Area Surveillance Infrared Imaging

For more Electronics Market reports – Please click here

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Venkat Reddy

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Source: EmailWire.Com


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