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Infrared Sensors Market size was valued at USD 582.5 million in 2022 and is poised to grow from USD 618.03 million in 2023 to USD 992.5 million by 2031, growing at a CAGR of 6.1% in the forecast period (2024-2031).

Infrared sensor companies invest heavily in the research and development of new products to stand out from the competition and fast track commercialization of new products. Infrared sensor market players can also focus on expanding the application scope of their products by collaborating and partnering with different companies from various industry verticals. Mergers and acquisitions are projected to help infrared sensor suppliers expand their footprint. 'Nippon Avionics Co. Ltd.', 'InfraTec GmbH', 'Raytheon Company', 'Omron Corp.', 'Wuhan Guide Infrared Co. Ltd.', 'Honeywell International Inc.', 'KEMET Corporation', 'Murata Manufacturing Inc.', 'General Dynamics Corp.', 'L3 technologies Inc.', 'Excelitas Technologies', 'Amphenol Corporation', 'Teledyne Technologies', 'Hamamatsu Photonics K.K.', 'FLIR Systems', 'Infrared Integrated Systems Ltd.', 'Texas Instruments Incorporated'

Infrared sensors are being extensively used in different consumer electronics products and growing sales of consumer electronics is projected to bolster the demand for infrared sensors in the future.

Device Miniaturization: Infrared sensor manufacturers should focus on device miniaturization trends to create new opportunities for themselves and maximize their sales potential. Companies can also target wearable device makers to make the most of this trend in the long run. Infrared sensor suppliers should focus on R&D to make their products smaller to remain functional in miniaturized devices that are gaining prominence around the world.

The Asia Pacific region is projected to dominate the infrared sensors market share across the forecast period. The presence of a robust electronics and semiconductor manufacturing industry coupled with growing use of infrared sensors in consumer electronics are allowing this region to dominate the market growth. China is estimated to be the top market for infrared sensors companies in this region followed by Taiwan, Japan, and India in the future.

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Global Infrared Sensors Market

Product ID: SQMIG45K2109

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