According to the latest study, added to the wide repository of Market Research Reports Search Engine (MRRSE), the constant rise in security concerns among consumers and the growing demand for consumer electronics products is nowadays impacting the global market for infrared sensors prominently. This study is titled as “Infrared Sensors Market- Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016-2024” which describes the overall market scenario by analyzing the market size and status in some of the major regions. Additionally, it presents a fair case of the market dynamics influencing its trajectory. It also includes an assessment of its segments and the factors that are impacting their growth.
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The key highlights of the study display that the global market for infrared sensors stood at US$238.8 million in 2015. Rising at a healthy CAGR of 12.80% from 2015 to 2024, the opportunity in this market is likely to touch US$692.8 million by the end of 2024. Some of the prime factors responsible for this growth is the low power consumption, flexible applications and relatively less production price that have been driving the growth in the global market.
In the first section of the report, the buyer’s will get to know about the market overview of Infrared sensors. It can be defined as, infrared sensors are devices emitting, detecting and receiving infrared waves as heat and infrared radiation. It is integrated with different devices which are used in surveillance, automobiles, testing, detection, and measurement. Infrared sensors are broadly classified into two main types:
- Thermal infrared sensors
- Quantum infrared sensors
Thermal use infrared energy as heat. Their photosensitivity is independent of the wavelength being detected. Whereas, quantum provide higher detection performance and faster response speed. Moreover, the global Infrared Sensors market is segmented on the basis of working mechanism which includes: passive and active; by detection, end user and geography. Major end-user of infrared sensors listed in the report are:
- Oil and Gas
- Consumer Electronics
- Aerospace and Defense
On the basis of the geography, the global infrared sensors market has been characterized into North America, Asia-Pacific, Europe, Latin America and the Middle East and Africa (MEA). From the year 2015, North America and Europe, amongst these, have emerged as the leading regional markets for infrared sensors and also expected to maintain its dominance in the next few years. The major reason behind this growth is the rising usage of infrared sensors in detecting motion, which helps in detecting the target from a distant place. On the other hand, the increasing usage of infrared sensors in unmanned aerial vehicles and drones are expected to propel European market of infrared sensors.
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At present, the major players in the global Infrared Sensors market are Honeywell International, Inc. (United States), Excelitas Technologies (United States), Texas Instrument (United States), Infratec GmbH (Germany), Teledyne (United States), FLIR System (United States), Hamamatsu Photonics (Japan), Raytheon (United States) and Murata Manufacturing (Japan). Moreover, the report includes Porter’s five forces analysis that highlights the strength of the competitive rivalry present in the overall market.
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