Infrared Camera Market 2022 witnessing a surge due to the rapid Growth at a CAGR of 20.62% till Forecast 2029, Predicts by Exactitude Consultancy

Globally caters to the maximum share in the Infrared camera market owing to the presence of advanced technology that surges the growth of the high-tech devices in the Defence & Military.

Luton, Bedfordshire, United Kingdom, Nov. 02, 2022 (GLOBE NEWSWIRE) -- Exactitude Consultancy, the market research and consulting wing of Ameliorate Digital Consultancy Private Limited has completed and published the final copy of the detailed research report on the Infrared Camera market.

The Global Infrared Camera Market is growing at a CAGR of 20.62% to reach above USD 744.8 million by 2029 for the forecast period of 2022 to 2029.

Infrared cameras detect the infrared energy of objects within a specified field of view (FOV) to improve object detection, identification and classification. This camera is widely used for military, commercial and industrial purposes. Increasing commercialization and falling prices of sensors and detectors, and advances in microbolometer technology are driving the growth of the infrared camera market.

IR cameras are also known as thermography cameras or thermal imaging cameras. A device that creates images using infrared and visible light. Originally developed for military surveillance and security purposes, it has now found applications in other areas such as firefighting Foam, transportation, commercial and residential security. With the price of thermal imaging cameras gradually declining and the rapid development of high-speed thermal imaging cameras, the global IR camera market will expand by 2029.

Increase in end use of infrared cameras in security and surveillance

Public safety is a top priority globally. Public safety agencies are investing in many new technologies to ensure efficiency. Faced with rising crime rates, anti-social behavior and terrorist attacks, governments have adopted new technologies and policies to ensure public safety and security. It is imperative to find safe, affordable and viable solutions to improve systems and their response to devastating attacks. A variety of thermal imaging cameras are used for defense, homeland security, perimeter surveillance, and law enforcement surveillance. Improved features such as superior performance, superior imaging capabilities, and high reliability in the field are driving the growth of the market. Additionally, these cameras can be integrated with pan and tilt positioning systems to create complete surveillance systems for a variety of end uses. In addition, infrared thermography detects ranges of up to 50 km, even in complete darkness. This feature contributes to market growth and provides a lucrative opportunity for global infrared camera market share.

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Asia Pacific is the fastest growing region in the world. It is the most lucrative market for thermal imaging cameras due to the availability of improved high-end technology, increasing demand for smart electronics, and growth in manufacturing. Additionally, various non-profit organizations supporting embedded systems are fueling the market growth. These organizations are taking various initiatives to build a power infrastructure with advanced technology expected to drive the thermal imaging camera market size. Asia-Pacific leads the market share of thermal imaging cameras and is expected to be the fastest growing regional segment with the highest CAGR in the near future. With the growing demand for security and surveillance systems, organizations in all industries recognize the importance of thermal imaging cameras for efficient detection.

Recent Developments:

FLIR Systems provides camera cores for Rolls Royce, BMW, Audi, and Mercedes-Benz models through a partnership with Autoliv Electronics.

In 2020, Seek Thermal, introduced Seek ScanTM, a simple, low-cost thermal imaging system designed to automate body temperature screening using skin temperature as a proxy. Seek Scan is specifically designed and calibrated to deliver accurate skin temperature measurements while enabling social distancing protocols.

In 2019, Axis Communications has introduced the AXIS Q6215-LE PTZ Network Camera to meet the increasing demand for more heavy-duty PTZ cameras with built-in IR (Infrared) illumination.

Report CoverageDetails
Market Size Value byUS$ 9,055.58 Million by 2027
Growth rateCAGR of 7.1% from 2020-2027
Forecast Period2020-2027
Base Year2020
No. of Charts & Figures93
Historical data availableYes
Segments coveredType, Component, Wavelength, and Application
Regional scopeNorth America; Europe; Asia Pacific; Latin America; MEA
Country scopeUS, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina
Report coverageRevenue forecast, company ranking, competitive landscape, growth factors, and trends
Discount AvailableGet Discount of Report

Infrared Camera Market Players

From large companies to small ones, many companies are actively working in the Infrared Camera market. These key players include Xenics, AIM Infrarot-Module GmbH, Lynred, FLIR System Inc., L3 Technologies, SemiConductor Devices, Boston Electronics Corporation, Hamamatsu Photonics. and others.

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Key Market Segments: Infrared Camera Market

Infrared Camera Market by Type

  • Short Wavelength IR
  • Medium Wavelength IR
  • Long Wavelength IR

Infrared Camera Market by End-User

  • Defence & Military
  • Industrial
  • Commercial Surveillance
  • Automotive

Future Key Opportunities in Global IR Cameras Market

As security concerns grow over time, a quality surveillance system is required. National security is paramount, which is why governments are looking for high-quality thermal imaging cameras that allow security guards to monitor specific locations for high-quality images and recordings. IR cameras use infrared radiation to capture accurate, high-quality images even at night. IR cameras are in high demand as they are the most cost-effective imaging system.

Additionally, the IR imaging system described in the Limitations section of this report has some limitations. Therefore, there is great potential for new technologies and systems to be implemented in IR imaging systems. The infrared (IR) camera market is one of the few market segments on the verge of growth and even has some major limitations in terms of accuracy, thus presenting an opportunity for camera manufacturers to develop high-precision imaging systems and conquer the global market offers.

Surge in Usage in Security and Surveillance Applications

The wavelengths most commonly used in industrial infrared cameras, longwave infrared LWIR and medium wave infrared MWIR, are for security and surveillance applications. Both LWIR and MWIR wavelengths must be in the scene imaging. However, LWIR is more efficient than MWIR. Industrial infrared cameras are a popular technology of choice for firefighting and military applications, primarily within the ambient temperature range. There is a large flux (thermal energy emitted by the target and the surrounding background). Such applications can be seen in the increasing adoption of LWIR. So, with increasing adoption of his LWIR for security and surveillance, the industrial infrared camera market is in high demand.

Key Benefits of the Report

  • This study presents the analytical depiction of the industrial infrared camera market forecast along with the current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global industrial infrared camera market trends.
  • The current market is quantitatively analysed from 2020 to 2029 to highlight the global industrial infrared camera market growth scenario.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
  • The report provides a detailed global industrial infrared camera market analysis depending on competitive intensity and how the competition will take shape in the coming years.

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