In the Report “Cooled Infrared Imaging Market: By Spectrum Ranges (Short, Mid, Long, Far Wave IR); By Focal Plane Arrays (Indium Antimonide (InSb) FPAs, Others); By Industry Verticals (Industrial, Medical, Commercial, Others); By Geography – (2018-2023)” published by IndustryARC, the market is driven by the demand for low-priced, high resolution thermal imaging systems that are more affordable and practical, which is driving manufacturers to introduce new innovations into their products to stand out from their competitors.
Presently America dominates and APAC foreseen to lead in the Cooled Infrared Imaging Market
Going on to data, America reportedly generated revenue of $2204.2 million for the year 2017, and is expected to grow at a CAGR of 4.32%, amounting to revenue of $2882.82 million by 2023, because of growing use of IR imaging technology in thermal camera sensor of conveyor systems, couplings, insulation integrity, hydraulic systems, piping systems, process equipment air transport systems, HVAC heating and cooling airs, etc. There are several technological advancements going on in America, and due to the growing demand, various developments are taking place in IR images, carried out by the leading manufacturers of infrared camera in America.Asia Pacific and Europe generated revenues of $1745.65 million and$1306.05 million, respectively, for 2017.The growing demand for advancements in security equipment in various other sectors will help the market to grow at a higher growth rate of 13.97% and 9.17%, and revenues amounting to $3655.65 million and $2190.23 million, respectively by 2023.In the coming years,Asia-Pacific will be seen as the region to gain highest amount of revenue due to the increasingly growing demand in the field of IR Imaging technology.
Selected Spectrum Range Analysis done in the Cooled Infrared Imaging Market Report:
IR imaging market is the fastest and largest growing market,in terms of shipment and technology. The overall market is expected to increase as the demand for consumer electronics applications is slated to be high in the coming years. The value of short wave IR market value is estimated to be $ 392.52 million by 2023, with a growing CAGR of 7.84%, this is mainly due to low cost and wide application range. Also, with the entry of new products with advanced technologies and developments, these products are finding wide range of application in various areas. The value of mid wave IR market is expected to grow fast, which is due to new launches and technical developments. Zafiro640 introduced by DRS technologies has significant competitive edge in the market space.Far wave IR is seen to grow at the lowest CAGR of 4.08%, but wide applications in various fields and upcoming research will help the Far Wave IR to grow steadily.
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Excerpts on Cooled Infrared Imaging Market Growth Factors
• The advances in technology have led to the production of cost-effective innovations in the market that are more useful and affordable to a wide customer base.The significant amount each company is spending to improve its product portfolio will significantly drive the use of IR imaging cameras across various industries, as new features like motion detection and cloud-based video solutions like Axis Video Hosting System (AVHS), are being added to existing products.
• The technological innovations are resulting in the reduction of size and cost of the end product as the product methods are evolving continuously.Specifically, adoption of low-cost images and optic technologies, and the shift to high volume manufacturing are a few changes that are expected to bring down the manufacturing cost.The newer IR cameras are highly integrated, compact and cost-effective, and this will drive the market significantly.
• Growing competition is another driver of thermal IR imaging market, which is forcing manufacturers to increase their manufacturing efficiency, and also resulting in the demand for technological innovations in the field of optics, sensor size, pyro electrics, thermopiles and many others. This demand is expected to be a key factor for the continuous reduction in cost of thermal imaging systems, along with the increase in adoption of thermal imaging camera across various commercial markets.
• With growing demand for integrated technologies, many original equipment manufacturers are also producing in-built thermal images for smartphones, and also providing additional innovative accessories with their products to enhance user experience and integration capabilities. With increasing mobile penetration, such technologies are expected to grow in the market significantly.
Key players of the Cooled Infrared Imaging Market
Top companies that hold major market share are FLIR Systems, Testo AG, Fluke, NEC Avio, Wuhuan Guide Infrared Co., Ltd, and others. FLIR Systems is the top company with a highest figure of market share, followed by Testo AG. The research says FLIR will remain the market leader for thermographic cameraapplications during the forecast period. The top companies in vision enhancement, are Axis Communications AB, Samsung Techwin, Pelco and Bosch Security Systems. In camera systems in the security arena, Axis Communications AB is expected to perform better in the future and capture a larger market share.
Cooled Infrared Imaging Market report is segmented as below
A. Cooled IR Imaging Market by Spectrum Ranges
1. Short Wave IR (SWIR)
2. Mid Wave IR (MWIR)
3. Long Wave (LWIR)
4. Far Wave (FWIR)
B. Cooled Infrared Imaging Market by Focal Plane Arrays (FPAs)
1. Mercury Cadmium Telluride (HgCdTe) FPAs
2. Indium Antimonide (InSb) FPAs
3. Lead Sulfide and Lead Selenide (PbS and PbSe) FPAs
4. QWIPs (Quantum Well Infrared Photodetectors) FPAs
5. nBn Detectors FPAs
6. Extrinsic Silicon (Si:X) FPAs
7. T2SL (Type II Superlattice) FPAs
C. Cooled IR Imaging Market by Industry Verticals
D. Cooled Infrared Imaging Market by Geography (covers 10+ countries)
E. Cooled Infrared Imaging Entropy Market
Companies Cited / Interviewed
2. Axis Communications Ab
3. Current Sales Corporation (Dba Current Corporation)
4. Zhejiang Dali Technology Co Ltd.
5. Drs Technologies, Inc.
6. E.D. Bullard Company
7. Flir Systems, Inc
8. Fluke Corporation
9. General Dynamics Corporation
10. Guangzhou Sat Infrared Technology Co., Ltd
11. Infrared Integrated Systems Ltd (Irisys)
12. L-3 Communications Holdings, Inc.
13. Necavio Infrared Technologies
14. Pelco Inc.
15. Qioptiq Ltd.
16. Raytheon Company
17. Robert Bosch Gmbh
18. Safran S.A.
19. Samsung Techwin
20. Teradyne Dalsa Corp.
21. Testo Ag
23. Vigo System S.A
24. Wuhan Guide Infrared Co., Ltd.
25. Zhejiang Ulirvision Technology
What can you expect from the report?
The Cooled Infrared Imaging Market Report is Prepared with the Main Agenda to Cover the following 20 points:
1. Market Size by Product Categories & Application 11. Demand Analysis (Revenue & Volume)
2. Market trends & Relevant Market Data 12. Country level Analysis
3. Manufacturer Landscape 13. Competitor Analysis
4. Distributor Landscape 14. Market Shares Analysis
5. Pricing Analysis 15. Value Chain Analysis
6. Top 10 End user Analysis 16. Supply Chain Analysis
7. Product Benchmarking 17. Strategic Analysis
8. Product Developments 18. Current & Future Market Landscape Analysis
9. Mergers & Acquisition Analysis 19. Opportunity Analysis
10. Patent Analysis 20. Revenue and Volume Analysis
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