Infrared Imaging Market Size, Share Analysis

Updated on : Oct 22, 2024

Global Infrared Imaging Market Size

The global infrared imaging market size is estimated to be worth USD 6.7 billion in 2023 and is projected to reach USD 9.6 billion by 2028, growing at a CAGR of 7.3% during the forecast period 2023-2028

Increased adoption of infrared imaging products in security & surveillance application is one of the major drivers that fuels IR camera market growth.

Infrared Imaging Market Statistics Forecast to 2028

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Global Infrared Imaging Market Trends

Driver: Increasing use of infrared (IR) 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 (IR) 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 industry. 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 Camera 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.

Infrared Camera Market Share

Infrared Imaging Market Share

Asia Pacific held to register highest CAGR in the infrared imaging industry during forecast period

The Asia Pacific region is one of the key markets for infrared camera 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.

Infrared Imaging Market Statistics by Region

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Top Infrared Imaging Companies - Key Market Players

The overall infrared camera market is dominated by

• Teledyne FLIR LLC (US),
• Leonardo DRS (US),
• Axis Communications AB (Sweden),
• Zhejiang Dali Technology Co.,Ltd. (China),
• OPGAL Optronics Industries Ltd (Israel)
• L3Harris Technologies (US), Inc,
• Fluke Corporation (US),
• Raytheon Technologies Corporation (US),
• Xenics nv (Belgium), and
• Allied Vision Technologies GmbH (Germany).

These companies have used both organic and inorganic growth strategies such as product launches, acquisitions, and partnerships to strengthen their position in the market.

Infrared Imaging Market Report Scope

Infrared Imaging Market Highlights

The study segments the infrared Imaging industry based on By Methodology, Device Type, Gas Analyzer Type, Industry and Region

Recent Developments in Infrared Imaging Industry

• 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.

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