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Infrared (IR) Camera Market in Commercial Sector is Excepted to Grow At A Rate Of 10% Till 2023

Author : Ronak Bora | Published Date : 2019-04-08 

Infrared (IR) Camera Market find applications across commercial, military & defense, and medical imaging sectors. Military & Defense application, which accounted for more than 35% of Infrared (IR) Camera Market share in 2015, is anticipated to play a major role in industry expansion over the coming years. Infrared (IR) Camera industry revenue in the commercial sector is projected to grow at a rate of 10% over the period from 2016 to 2023.

The commercial sector is expected to influence the industry growth over the coming years, owing to elevated product demand across nuclear power plants, thermography, security borders, airports, and constructions. Medical imaging sector is expected to stimulate Infrared (IR) Camera market development over the years to come, driven by the escalating product demand for detecting life-threatening ailments such as cancers.

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As per Global Market Insights, Inc., “IR (Infrared) Camera market, valued at USD 3 billion in 2015, is projected to surpass USD 6.8 billion by 2023.” Inception of new technologies providing exceptional features such as built-in visual imaging and automation will generate more market demand over the coming six years. The growing popularity of these products can be attributed to its wide use for detecting electrical defects, leak identification, and plumbing blockages.

The material segments of the Infrared (IR) Camera market are sapphire, silicon, germanium and zinc selenide. The base material for germanium is non-hygroscopic which transmits good infrared rays this will be followed by the zinc selenide segment.

Asia Pacific Infrared (IR) Camera market is expected to observe a substantial surge over 2016-2023. Growing security concerns coupled with heavy investments in defense activities is expected to drive the regional growth. High product demand in oil & gas and automobile sectors will further contribute towards the revenue.

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North America Infrared (IR) Camera market is anticipated to surpass USD 2.5 billion by 2023. Mounting requirement for efficient mass screening as well as video surveillance is projected to push the regional demand. The U.S. is likely to dominate the regional revenue.

Introduction of new technologies in market and massive investments by various players in R&D activities to create new products will further boost Infrared (IR) Camera industry growth. Established firms will try to acquire maximum market share through strategic collaborations, joint ventures, and new product launches. Leak Surveys and IRCameras together launched nitrous gas imaging Infrared camera for LDAR sector. FLIR systems introduced new smartphones with thermal imaging technology to expand its business.

Pelco Corporation, E.D. Bullard Company, Fluke Corporation, Axis Communications AB, FLIR Systems, Seek Thermal, Nippon Avionics Company Limited, Samsung Group, Testo SE & Co. KGaA, Zhejiang Dali Technology Company Limited, QIOPTIQ Limited, Guangzhou SAT Infrared Technology Company Limited, Infrared Integrated Systems Limited, Wuhan Guide Infrared Company Limited, and Raytheon Company are key participants of Infrared (IR) Camera market.

Browse Complete Report Summary @ https://www.gminsights.com/industry-analysis/IR-infrared-camera-market-report

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.

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

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