Global Infrared (IR) Sensor Market, Resolving Tracking, Detecting and Scanning Issues in Various Sectors and is Expected to Reach USD 632.1 million by 2023
NEW YORK, Oct. 04, 2018 (GLOBE NEWSWIRE) -- Global Infrared (IR) Sensor Market is expected to grow significantly from USD 270.7 Million in 2016 to USD 632.1 Million in 2023, at a CAGR of 13.1% from 2017 to 2023. Factors driving the growth of the global IR sensor market include rising demand of consumer electronics such as smartphones, tablets and smart TVs, high concern for safety and security at commercial environments. Moreover, the smaller size, high reliability, lower cost and increasing automation are further augmenting the growth of the IR sensor market. However, government regulations and limited accuracy in certain conditions in the usage of IR Sensor may hinder the growth of the global IR sensor market.
An infrared (IR) sensor is a detector which acts in response to infrared radiation. IR sensor is an electronic instrument, used to sense certain characteristics of surroundings by either emitting or detecting IR radiations. Growing trend of sensor miniaturization, cost reduction, and integration of IR sensor into smart devices have led to an increasing demand for these sensors. Furthermore, technological advancements in infrared sensor technology provide potential growth opportunities for the global IR sensor market.
The global IR sensor market is segmented on the basis of working mechanism, detection, functionality, end user, and region. Based on the working mechanism, IR sensors are bifurcated into active infrared (AIR) and passive infrared (PIR). Detection segment includes uncooled IR sensor and cooled IR sensor. Functionality segment is divided into the thermal infrared sensor and quantum infrared sensor. On the basis of end-user, the global IR sensor market is segmented into oil & gas, chemicals, consumer electronics, mining, pharmaceuticals, aerospace & defense, and others. Consumer electronics and security is the largest application segment of the IR sensor market.
Major players in the IR Market includes Hamamatsu Photonics, Excelitas Technologies Corp., Nippon Ceramic Co. Ltd, Honeywell International Inc., Murata Manufacturing Co., Texas Instruments Inc., Nippon Avionics, Raytheon Company, Ltd, Omron Corporation, FLIR Systems Inc, Sofradir, and Nicera among others.
Key Findings of the Global Infrared (IR) Sensor Market Report:
-- The infrared (IR) sensor market is expected to reach USD 632.1 Million by 2023 at CAGR of 13.1% -- Based on working mechanism: o The passive infrared (IR) sensor segment was the largest segment in the global infrared (IR) sensor market in 2016 -- Based on functionality: o The thermal infrared (IR) sensor segment was the largest segment in the global Infrared (IR) Sensor market in 2016 -- IR sensor technology has the wider application in various sectors such as consumer electronics, aerospace & defense in the global IR sensor market -- Asia-Pacific region is expected to be the fastest growing market in the global infrared (IR) sensor market owing to growing demand for infrared (IR) sensor technology in various sectors such as healthcare, smartphones, mining, oil & gas, chemicals, pharmaceuticals, and aerospace & defense -- North America is accounted to hold the major share of the global IR sensor market, owing to availability of advanced technology
Global Infrared (IR) Sensor Market– Resolving, Tracking, Detecting and Scanning Issues in Various Sectors
IR Sensor finds its application in night vision devices, infrared astronomy, and infrared tracking. Night vision devices transform photons of light into electrons and then converting them back to visible light. Astronomical objects can easily be detected by using telescopes and solid state detectors. Furthermore, IR tracking employs a missile guided system in order to track the radiation emitted by the target.
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Global Infrared (IR) Sensor Market - Regional Insight
Geographically, global infrared (IR) sensor market is segmented into North-America, Europe, Latin America, Asia-Pacific (APAC) and, Middle East & Africa (MEA). North America holds the largest market share of the IR sensor market during the forecast period, owing to the availability of advanced technology. Asia-Pacific is expected to be the fastest growing market in the global IR sensor market during the forecast period. The factors propelling the growth rate of the IR sensor market are increasing demand of IR sensor for temperature measurement, industrial applications and military and defense.
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