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According to a new report Global Infrared Detector Market, published by KBV Research, the global Infrared Detector is expected to attain a market size of $451.5million by 2022, growing at a CAGR of 9.1% during the forecast period. Rapid industrialization, primarily in manufacturing sectors, sharply rising demand for better security and monitoring systems, increased application of infrared detectors in residential & consumer electronics sector and growing government initiatives in aerospace & defense sectors in both North America and Asia-Pacific regions have fueled the infrared detector market growth.
Nevertheless, high cost and lower accuracy levels in harsh conditions could restrict the market growth. The initial cost of investment required to manufacture highly sensitive infrared detectors is substantially high. Therefore, the entire process of integrating the infrared detectors with expensive semiconductor components costs far higher than the actual price of the infrared sensors. The pyroelectric infrared detectors accounted for about 33% of the overall infrared detectors market in 2015. Higher accuracy and fast response of photo infrared detectors has contributed to the market expansion on this segment. North America has significantly contributed to the growth of such infrared detector segment. Microbolometers infrared detector segment on the other hand is expected to register a CAGR of 11.0%, growing at a significant pace during the forecast period, due to low cost and limited maintenance of respective infrared detectors.
The report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key influencing factors of the global Infrared Detector have been discussed in the report along with the elaborated company profiles of Honeywell International, Inc., BAE Systems, Flir Systems, Inc., Texas Instruments Incorporated, Raytheon Company, Excelitas Technologies Corp., Nippon Ceramic Co., Ltd. and Hamamatsu Photonics K.K.
LAMEA Infrared Detector Market