Infrared Camera (IR) Market Shipments Will Cross 3.5 Million Units by 2026, Revenue to Hit USD 10 Billion-Mark: Global Market Insights, Inc.
Europe infrared camera market will witness around 6% growth during the forecast timeline driven by infrared screening of residential buildings for energy audit processes.
SELBYVILLE, Del., February 2, 2020 (Newswire.com) - According to the latest report “IR Camera Market by Product (Fixed, Handheld, Pan-Tilt-Zoom), Technology (Cooled, Uncooled), Wavelength (Near Infrared, Short-Wave Infrared, Mid-Wave Infrared, Long-Wave Infrared), Application (Automotive, BFSI, Commercial, Government & Defense, Healthcare, Industrial, Residential), Regional Outlook, Competitive Market Share & Forecast 2026”, by Global Market Insights, Inc., the market valuation of infrared cameras will cross $10 billion by 2026. Growing demand for autonomous vehicles, declining prices of IR cameras, rise in military spending in developing countries, and increasing need for surveillance across various end-user sectors are proliferating the market growth.
The infrared camera market is proliferating due to mass adoption, coupled with a range of diverse applications in commercial, industrial, and government sectors. High investments from firms to ensure a high-surveillance system and increasing military spending in the Middle East & Africa and Asia Pacific are the key factors driving the market revenue.
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The infrared cameras are used in the healthcare sector to detect various disease patterns by observing body temperature. The portability and ruggedness of IR cameras are due to their compact size and low weight, which will offer an additional advantage as medical equipment for doctors. Non-contact measurement process ensures that patients are not unnecessarily provoked. This will help veterinarians and childcare specialists to easily detect diseases. These cameras offer flexible & budget-friendly diagnostic methods to the healthcare sector.
The Europe infrared camera market size will witness around 6% growth during the forecast timeline. Infrared screening of residential buildings for energy audit processes is anticipated to drive the demand for handheld infrared cameras. In the region, industry players are focusing on improving their production facilities to improve product capabilities.
For instance, in March 2018, Xenics increased its production capabilities, modernized its equipment, reviewed processing techniques, and added extra cleanroom space. This helped the company to significantly reduce the dark current in SWIR detectors, enhance the signal-to-noise ratio, and offer a larger dynamic range in its SWIR cameras.
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Some major findings of the IR camera market report are:
- India is planning to set up high-tech surveillance cameras along its international borders with China, Pakistan, Bangladesh, Nepal, and Myanmar.
- Low-entry barriers for new entrants are intensifying the competition among market players.
- Major Infrared camera market players include Fujifilm Holdings Corporation, Fluke Corporation, FLIR Systems, DIAS Infrared GmbH, Axis Communications AB, Testo AG, SiOnyx, LLC, Seek Therma, Raytheon Company, Panasonic Corporation, Optris GmbH, and OPGAL OPTRONIC INDUSTRIES Ltd.
- Proliferation in the adoption of IR cameras in electrical/mechanical, building, automation/process control, maritime, and security applications will drive the market growth.
- Partnerships among manufacturers & integrators will offer new dimensions to the automotive & aerospace sectors.
- Global automakers are focusing on integrating infrared cameras in Advanced Driver Assistance Systems (ADAS) to create efficient, safer, and secure autonomous vehicles
- Decrease in prices of infrared sensors & detectors will propel the market size.
- Medical & research institutes are increasingly adopting handheld IR cameras due to their effectiveness in the respective fields.
Table of Contents (ToC) of the report:
Chapter 3. Infrared (IR) Camera Market Insights
3.1. Industry segmentation
3.2. Industry landscape, 2016 – 2026
3.2.1. IP camera industry landscape
3.2.2. Thermal imaging industry landscape
3.3. Industry ecosystem analysis
3.3.1. Distribution channel analysis
3.3.2. Vendor matrix
3.4. Technology & innovation landscape
3.4.1. Impact of IoT
3.4.2. Artificial Intelligence (AI)
3.4.3. UAV & Drones
3.4.4. Video analytics
3.5. Regulatory landscape
3.6. Industry impact forces
3.6.1. Growth drivers
3.6.2. Industry pitfalls & challenges
3.7. Growth potential analysis
3.8. Porter's analysis
3.8.1. Supplier power
3.8.2. Buyer power
3.8.3. Threat of new entrants
3.8.4. Threat of substitutes
3.8.5. Internal rivalry
3.9. Competitive landscape, 2019
3.9.1. Company market share analysis
3.9.2. Strategy dashboard
3.10. PESTEL analysis
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About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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Source: Global Market Insights, Inc.
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Tags: Cooled IR Camera Market, Fixed Infrared Cameras, Handheld Infrared Cameras, Infrared Camera Market, IR Camera Market, PTZ IR Cameras, Uncooled Infrared Camera Market
