Infrared Imaging Market Insights
Market Overview:
The market for infrared imaging is anticipated to reach USD 9.6 billion by 2028, at a CAGR of 7.3% over the forecast period, from an estimated USD 6.7 billion in 2023. The main elements driving market expansion will be rising globalization, expanding technical innovation, and advancements in infrared detectors. Growing investment in R&D capabilities and a growing emphasis on technological developments in the production of micro bolometers would pave the way for the market's expansion.
Infrared Imaging Market, Forecast & Y-O-Y Growth Rate, 2020 - 2028
To get more reports on the above market click here to
GET FREE SAMPLE
This report is being written to illustrate the market opportunity by region and by segments, indicating opportunity areas for the vendors to tap upon. To estimate the opportunity, it was very important to understand the current market scenario and the way it will grow in future.
Production and consumption patterns are being carefully compared to forecast the market. Other factors considered to forecast the market are the growth of the adjacent market, revenue growth of the key market vendors, scenario-based analysis, and market segment growth.
The market size was determined by estimating the market through a top-down and bottom-up approach, which was further validated with industry interviews. Considering the nature of the market we derived the Electronic Equipment & Instruments by segment aggregation, the contribution of the Electronic Equipment & Instruments in Technology Hardware & Equipment and vendor share.
To determine the growth of the market factors such as drivers, trends, restraints, and opportunities were identified, and the impact of these factors was analyzed to determine the market growth. To understand the market growth in detail, we have analyzed the year-on-year growth of the market. Also, historic growth rates were compared to determine growth patterns.
Segmentation Analysis:
The Infrared Imaging Market is segmented by Technology, Wavelength, Application, Vertical, Region. We are analyzing the market of these segments to identify which segment is the largest now and in the future, which segment has the highest growth rate, and the segment which offers the opportunity in the future.
Infrared Imaging Market Basis Point Share Analysis, 2021 Vs. 2028
To get detailed analysis on all segments
BUY NOW
- Based on Technology the market is segmented as, Cooled, Uncooled
- Based on Wavelength the market is segmented as, Near Infrared, Short-wave Infrared (SWIR), Mid-wave Infrared (MWIR), Long-wave Infrared (LWIR)
- Based on Application the market is segmented as, Security & Surveillance, Monitoring & Inspection, Detection
- Based on Vertical the market is segmented as, Industrial, Nonindustrial
- Based on Region the market is segmented as, North America, Europe, Asia Pacific, Rest of the World, KEY MARKET PLAYERS, Teledyne FLIR LLC, Leonardo DRS, Axis Communications AB, Zhejiang Dali Technology Co.,Ltd., OPGAL Optronics Industries Ltd, L3Harris Technologies, Inc, Fluke Corporation, Raytheon Technologies Corporation, Xenics nv
Regional Analysis:
Infrared Imaging Market is being analyzed by North America, Europe, Asia-Pacific (APAC), Latin America (LATAM), Middle East & Africa (MEA) regions. Key countries including the U.S., Canada, Germany, France, UK, Italy, Spain, China, India, Japan, Brazil, GCC Countries, and South Africa among others were analyzed considering various micro and macro trends.
Infrared Imaging Market Attractiveness Analysis, By Region 2020-2028
To know more about the market opportunities by region and country, click here to
REQUEST FREE CUSTOMIZATION
Infrared Imaging Market : Risk Analysis
SkyQuest's expert analysts have conducted a risk analysis to understand the impact of external extremities on Infrared Imaging Market. We analyzed how geopolitical influence, natural disasters, climate change, legal scenario, economic impact, trade & economic policies, social & ethnic concerns, and demographic changes might affect Infrared Imaging Market's supply chain, distribution, and total revenue growth.
Competitive landscaping:
To understand the competitive landscape, we are analyzing key Infrared Imaging Market vendors in the market. To understand the competitive rivalry, we are comparing the revenue, expenses, resources, product portfolio, region coverage, market share, key initiatives, product launches, and any news related to the Infrared Imaging Market.
To validate our hypothesis and validate our findings on the market ecosystem, we are also conducting a detailed porter's five forces analysis. Competitive Rivalry, Supplier Power, Buyer Power, Threat of Substitution, and Threat of New Entry each force is analyzed by various parameters governing those forces.
Key Players Covered in the Report:
- d imaging market is estimated to be worth USD 6.7 billion in 2023 and is projected to reach USD 9.6 billion by 2028, at a CAGR of 7.3% during the forecast period. Increased adoption of infrared imaging products in security & surveillance application is one of the major drivers that fuels market growth.
- Driver: Increasing use of infrared cameras in quality control and inspection application
- The increasing use of infrared cameras in quality control and inspection applications has emerged as a significant trend in various industries. These highly advanced cameras enable businesses to enhance their quality control processes by providing non-destructive and non-contact testing capabilities. By capturing and analyzing thermal patterns, infrared cameras can identify anomalies, defects, or variations in temperature that may indicate potential issues with products or equipment. This technology allows for real-time monitoring, precise measurement, and efficient analysis, resulting in improved product quality, reduced waste, and enhanced overall operational efficiency.
- Restraint: Limitations associated with image resolution and sensitivity of infrared cameras
- The limited resolution and sensitivity lead to restrict the adoption of infrared imaging in certain high-precision applications and industries that demand exceptional image quality and detail. This leads to reliance on alternative imaging technologies or the need for supplementary methods to achieve the desired level of accuracy.
- Opportunity: Emerging infrared imaging applications in automotive sector
- Emerging infrared imaging applications in the automotive sector are driving innovation and transforming the driving experience. Infrared imaging technology offers advanced capabilities that enhance vehicle safety, convenience, and efficiency. One notable application is in driver monitoring systems, where infrared cameras can detect driver drowsiness or distraction by monitoring eye movements and alerting the driver in real time.
- Challenge: High cost of infrared cameras to challenge adoption
- The higher cost of a SWIR camera restricts its widespread adoption and impacts the overall infrared imaging market. While LWIR and MWIR cameras are also expensive, their price varies as per the application. For instance, infrared imaging cameras used for building inspection are usually less expensive than those used in research and development applications.
- Infrared Imaging Market Ecosystem
- The infrared imaging market is marked by the presence of a few tier-1 companies, such as Teledyne FLIR LLC (US), Fluke Corporation (US), Raytheon Technologies Corporation (US), Leonardo DRS (US), Axis Communications AB (Sweden), and many more. These companies have created a competitive ecosystem by investing in research and development activities to launch highly efficient and reliable infrared imaging offerings.
- The market for uncooled infrared imaging by technology to hold largest market share during the forecast period
- the expanding applications of uncooled infrared imaging in areas like automotive, security, and agriculture have fueled its growth. Also, the ease of use and the ability to capture thermal data in real-time without the need for cooling systems have made uncooled infrared imaging a preferred choice for many users.
- Long-wave infrared by wavelength held the largest market share in 2023
- LWIR cameras provide an extended wavelength range, enabling superior detection of small temperature differentials and enhancing image quality. This characteristic makes them highly suitable for critical applications like predictive maintenance, where identifying subtle temperature variations is essential. Moreover, LWIR cameras have experienced significant advancements in detector technology, resulting in heightened sensitivity and improved resolution.
- Monitoring & Inspection by application to witness highest CAGR during forecast period
- Infrared imaging facilitates non-destructive monitoring and inspection across industries by capturing thermal signatures. It assists in preventive maintenance, quality control, energy audits, building inspections, healthcare diagnostics, and agriculture, enabling the detection of anomalies, process optimization, and efficiency improvement.
- Asia Pacific held to register highest CAGR in the infrared imaging market during forecast period
- The Asia Pacific region is one of the key markets for infrared imaging market. The increasing adoption of thermal imaging technology across various sectors has driven the demand for infrared cameras and related products. Several companies in the region are actively involved in the development, production, and distribution of infrared imaging solutions. The technology continues to advance, and its applications are expanding to new areas, promoting safety, efficiency, and innovation in the region.
- Recent Developments
- In February 2023, Xenics nv (Belgium) launched Lynx R and XSL R series, expanding its linear SWIR camera portfolio. Linear SWIR cameras are available for demanding applications such as food sorting, machine vision, spectroscopy, optical fiber monitoring, semiconductor inspection, LIDAR sensing and spectral-domain optical coherence tomography.
- In April 2023, Raytheon Technologies (US) announced the launch of RAIVEN, an innovative tool that boosts the situational awareness capabilities of military & security personnel. Its primary purpose is to deliver real-time video streaming and advanced analytics in demanding environments, empowering users with enhanced insights and information..
- In June 2022, Teledyne FLIR LLC (US) and United States Coast Guard (USCG) signed a contract that to provide Maritime Forward Looking Infrared (MARFLIR) II sensors and SeaFLIR 280-HD surveillance systems. This contract strengthens Teledyne FLIR Defense's position as a trusted provider of cutting-edge imaging solutions for defense applications.
- KEY MARKET SEGMENTS
- By Technology
- Cooled
- Uncooled
- By Wavelength
- Near Infrared
- Short-wave Infrared (SWIR)
- Mid-wave Infrared (MWIR)
- Long-wave Infrared (LWIR)
- By Application
- Security & Surveillance
- Monitoring & Inspection
- Detection
- By Vertical
- Industrial
- Nonindustrial
- By Region
- North America
- Europe
- Asia Pacific
- Rest of the World
- KEY MARKET PLAYERS
- Teledyne FLIR LLC
- Leonardo DRS
- Axis Communications AB
- Zhejiang Dali Technology Co.,Ltd.
- OPGAL Optronics Industries Ltd
- L3Harris Technologies
- Inc, Fluke Corporation
- Raytheon Technologies Corporation
- Xenics nv
- Allied Vision Technologies GmbH
SkyQuest's Expertise:
The Infrared Imaging Market is being analyzed by SkyQuest's analysts with the help of 20+ scheduled Primary interviews from both the demand and supply sides. We have already invested more than 250 hours on this report and are still refining our date to provide authenticated data to your readers and clients. Exhaustive primary and secondary research is conducted to collect information on the market, peer market, and parent market.
Our cross-industry experts and revenue-impact consultants at SkyQuest enable our clients to convert market intelligence into actionable, quantifiable results through personalized engagement.
Scope Of Report
Report Attribute |
Details |
The base year for estimation |
2021 |
Historical data |
2016 – 2022 |
Forecast period |
2022 – 2028 |
Report coverage |
Revenue forecast, volume forecast, company ranking, competitive landscape, growth factors, and trends, Pricing Analysis |
Segments covered |
- By Technology - Cooled, Uncooled
- By Wavelength - Near Infrared, Short-wave Infrared (SWIR), Mid-wave Infrared (MWIR), Long-wave Infrared (LWIR)
- By Application - Security & Surveillance, Monitoring & Inspection, Detection
- By Vertical - Industrial, Nonindustrial
- By Region - North America, Europe, Asia Pacific, Rest of the World, KEY MARKET PLAYERS, Teledyne FLIR LLC, Leonardo DRS, Axis Communications AB, Zhejiang Dali Technology Co.,Ltd., OPGAL Optronics Industries Ltd, L3Harris Technologies, Inc, Fluke Corporation, Raytheon Technologies Corporation, Xenics nv
|
Regional scope |
North America, Europe, Asia-Pacific (APAC), Latin America (LATAM), Middle East & Africa (MEA) |
Country scope |
U.S., Canada, Germany, France, UK, Italy, Spain, China, India, Japan, Brazil, GCC Countries, South Africa |
Key companies profiled |
- d imaging market is estimated to be worth USD 6.7 billion in 2023 and is projected to reach USD 9.6 billion by 2028, at a CAGR of 7.3% during the forecast period. Increased adoption of infrared imaging products in security & surveillance application is one of the major drivers that fuels market growth.
- Driver: Increasing use of infrared cameras in quality control and inspection application
- The increasing use of infrared cameras in quality control and inspection applications has emerged as a significant trend in various industries. These highly advanced cameras enable businesses to enhance their quality control processes by providing non-destructive and non-contact testing capabilities. By capturing and analyzing thermal patterns, infrared cameras can identify anomalies, defects, or variations in temperature that may indicate potential issues with products or equipment. This technology allows for real-time monitoring, precise measurement, and efficient analysis, resulting in improved product quality, reduced waste, and enhanced overall operational efficiency.
- Restraint: Limitations associated with image resolution and sensitivity of infrared cameras
- The limited resolution and sensitivity lead to restrict the adoption of infrared imaging in certain high-precision applications and industries that demand exceptional image quality and detail. This leads to reliance on alternative imaging technologies or the need for supplementary methods to achieve the desired level of accuracy.
- Opportunity: Emerging infrared imaging applications in automotive sector
- Emerging infrared imaging applications in the automotive sector are driving innovation and transforming the driving experience. Infrared imaging technology offers advanced capabilities that enhance vehicle safety, convenience, and efficiency. One notable application is in driver monitoring systems, where infrared cameras can detect driver drowsiness or distraction by monitoring eye movements and alerting the driver in real time.
- Challenge: High cost of infrared cameras to challenge adoption
- The higher cost of a SWIR camera restricts its widespread adoption and impacts the overall infrared imaging market. While LWIR and MWIR cameras are also expensive, their price varies as per the application. For instance, infrared imaging cameras used for building inspection are usually less expensive than those used in research and development applications.
- Infrared Imaging Market Ecosystem
- The infrared imaging market is marked by the presence of a few tier-1 companies, such as Teledyne FLIR LLC (US), Fluke Corporation (US), Raytheon Technologies Corporation (US), Leonardo DRS (US), Axis Communications AB (Sweden), and many more. These companies have created a competitive ecosystem by investing in research and development activities to launch highly efficient and reliable infrared imaging offerings.
- The market for uncooled infrared imaging by technology to hold largest market share during the forecast period
- the expanding applications of uncooled infrared imaging in areas like automotive, security, and agriculture have fueled its growth. Also, the ease of use and the ability to capture thermal data in real-time without the need for cooling systems have made uncooled infrared imaging a preferred choice for many users.
- Long-wave infrared by wavelength held the largest market share in 2023
- LWIR cameras provide an extended wavelength range, enabling superior detection of small temperature differentials and enhancing image quality. This characteristic makes them highly suitable for critical applications like predictive maintenance, where identifying subtle temperature variations is essential. Moreover, LWIR cameras have experienced significant advancements in detector technology, resulting in heightened sensitivity and improved resolution.
- Monitoring & Inspection by application to witness highest CAGR during forecast period
- Infrared imaging facilitates non-destructive monitoring and inspection across industries by capturing thermal signatures. It assists in preventive maintenance, quality control, energy audits, building inspections, healthcare diagnostics, and agriculture, enabling the detection of anomalies, process optimization, and efficiency improvement.
- Asia Pacific held to register highest CAGR in the infrared imaging market during forecast period
- The Asia Pacific region is one of the key markets for infrared imaging market. The increasing adoption of thermal imaging technology across various sectors has driven the demand for infrared cameras and related products. Several companies in the region are actively involved in the development, production, and distribution of infrared imaging solutions. The technology continues to advance, and its applications are expanding to new areas, promoting safety, efficiency, and innovation in the region.
- Recent Developments
- In February 2023, Xenics nv (Belgium) launched Lynx R and XSL R series, expanding its linear SWIR camera portfolio. Linear SWIR cameras are available for demanding applications such as food sorting, machine vision, spectroscopy, optical fiber monitoring, semiconductor inspection, LIDAR sensing and spectral-domain optical coherence tomography.
- In April 2023, Raytheon Technologies (US) announced the launch of RAIVEN, an innovative tool that boosts the situational awareness capabilities of military & security personnel. Its primary purpose is to deliver real-time video streaming and advanced analytics in demanding environments, empowering users with enhanced insights and information..
- In June 2022, Teledyne FLIR LLC (US) and United States Coast Guard (USCG) signed a contract that to provide Maritime Forward Looking Infrared (MARFLIR) II sensors and SeaFLIR 280-HD surveillance systems. This contract strengthens Teledyne FLIR Defense's position as a trusted provider of cutting-edge imaging solutions for defense applications.
- KEY MARKET SEGMENTS
- By Technology
- Cooled
- Uncooled
- By Wavelength
- Near Infrared
- Short-wave Infrared (SWIR)
- Mid-wave Infrared (MWIR)
- Long-wave Infrared (LWIR)
- By Application
- Security & Surveillance
- Monitoring & Inspection
- Detection
- By Vertical
- Industrial
- Nonindustrial
- By Region
- North America
- Europe
- Asia Pacific
- Rest of the World
- KEY MARKET PLAYERS
- Teledyne FLIR LLC
- Leonardo DRS
- Axis Communications AB
- Zhejiang Dali Technology Co.,Ltd.
- OPGAL Optronics Industries Ltd
- L3Harris Technologies
- Inc, Fluke Corporation
- Raytheon Technologies Corporation
- Xenics nv
- Allied Vision Technologies GmbH
|
Customization scope |
Free report customization (15% Free customization) with purchase. Addition or alteration to country, regional & segment scope. |
Pricing and purchase options |
Reap the benefits of customized purchase options to fit your specific research requirements. |
Objectives of the Study
- To forecast the market size, in terms of value, for various segments with respect to five main regions, namely, North America, Europe, Asia-Pacific (APAC), Latin America (LATAM), Middle East & Africa (MEA)
- To provide detailed information regarding the major factors influencing the growth of the Market (drivers, restraints, opportunities, and challenges)
- To strategically analyze the micro markets with respect to the individual growth trends, future prospects, and contribution to the total market
- To provide a detailed overview of the value chain and analyze market trends with the Porter's five forces analysis
- To analyze the opportunities in the market for various stakeholders by identifying the high-growth Segments
- To identify the key players and comprehensively analyze their market position in terms of ranking and core competencies, along with detailing the competitive landscape for the market leaders
- To analyze competitive development such as joint ventures, mergers and acquisitions, new product launches and development, and research and development in the market
What does this Report Deliver?
- Market Estimation for 20+ Countries
- Historical data coverage: 2016 to 2022
- Growth projections: 2022 to 2028
- SkyQuest's premium market insights: Innovation matrix, IP analysis, Production Analysis, Value chain analysis, Technological trends, and Trade analysis
- Customization on Segments, Regions, and Company Profiles
- 100+ tables, 150+ Figures, 10+ matrix
- Global and Country Market Trends
- Comprehensive Mapping of Industry Parameters
- Attractive Investment Proposition
- Competitive Strategies Adopted by Leading Market Participants
- Market drivers, restraints, opportunities, and its impact on the market
- Regulatory scenario, regional dynamics, and insights of leading countries in each region
- Segment trends analysis, opportunity, and growth
- Opportunity analysis by region and country
- Porter's five force analysis to know the market's condition
- Pricing analysis
- Parent market analysis
- Product portfolio benchmarking