IR Camera Market Revenues to Reach USD 12.46 billion by 2028 - Market Size, Share, Forecasts, & Trends Analysis Report by Mordor Intelligence

Hyderabad, July 25, 2023 (GLOBE NEWSWIRE) -- According to a new market research report titled “IR Camera Market Report (2023-2028),” the market is estimated at USD 8.55 billion in 2023. It is expected to register a CAGR of 7.82% during the forecast period.

Owing to the growing demand for advanced driver assistance systems (ADAS) and investments in autonomous cars, IR cameras are expected to witness significant adoption in vehicles. There is a greater requirement for surveillance across various applications, incorporating those related to the military and defense, energy, and commercial spaces. For instance, solar energy is playing a critical role in the worldwide strategy to manage natural resources. Good security is critical because solar power is obtaining popularity, and solar panels are an expensive and delicate commodity.

Report Summary:

Report AttributeDetails
Market Size (2023)USD 8.55 billion
Market Size (2028)USD 12.46 billion
CAGR (2023-2028)7.82%
Study Period2018-2028
Forecast UnitsValue (USD billion)
Fastest Growing MarketAsia-Pacific
Largest MarketNorth America
Report ScopeMarket Dynamics, Revenue Forecast and Segmentation, Competitive Landscape, and Recent Developments, Market Growth, Future Opportunities, and Trends
Key Market DriversAn increasing need for continual and rigorous surveillance in the military.
Industry 4.0 fueling the development of technologies.

Who are the Top Companies in the IR Camera Market?

The IR camera market is greatly competitive in nature. The huge expenses on R&D, partnerships, and acquisitions are the prime growth strategies adopted by the regional companies to sustain the intense competition.

The noteworthy players holding the IR camera industry are:

  • Teledyne FLIR Systems Inc.
  • SPI Infrared
  • Opgal Optronics Industries Ltd
  • Raytheon Company
  • Seek Thermal Inc.
  • Fluke Corporation
  • Testo AG
  • HGH-Infrared
  • Teledyne Dalsa
  • DRS Technologies Inc.
  • InfraTec GmbH

Other Reports That Might Be of Your Interest:

  • Night Vision Cameras Market Report - The night vision cameras market size is expected to grow from USD 5.21 billion in 2023 to USD 9.10 billion by 2028, at a CAGR of 11.78% during the forecast period (2023-2028).
  • Wearable and Body-worn Cameras Market Report - The wearable and body-worn cameras market size is expected to grow from USD 6.47 billion in 2023 to USD 13.57 billion by 2028, at a CAGR of 15.96% during the forecast period (2023-2028).

Key Highlights from the IR Camera Market Report:

       Expanding Demand from Cooled Detectors

  • The most sensitive IR cameras, with only little variations in scene temperature, use cooled detectors. Due to blackbody physics, they offer images with high thermal contrast, remarkably in the spectrum's mid-wave infrared (MWIR) portion. In comparison to uncooled IR cameras, the enhanced thermal difference makes it easier to identify targets.
  • The competence of cooled IR cameras to effectively perform spectrum filtering to uncover features and take measurements that would else be impossible with an uncooled thermal camera is one of the significant factors influencing their adoption. IR cameras with cooled detectors offer better image quality. IR cameras with cooled detector types have many benefits over thermal imaging cameras with uncooled detector types.

       North America to Witness Significant Growth

  • IR imaging is beneficial to the armed forces, predominantly the army, navy, and air force, since it has a day-night working capability and ability to perform well in all weather conditions. The US Army and Navy employ IR cameras for border surveillance and law enforcement. They are also utilized in ship collision avoidance and guidance systems in the naval sector.
  • In the aviation industry, IR cameras have significantly mitigated the risks of flying in low light and night conditions. Aviation also utilizes them to identify, locate, and target enemy forces.

What are the Latest Developments in the IR Camera Market? 

  • In December 2022, Infratec introduced a new generation of SWIR (Short wavelength-IR) cameras specially designed for thermographic measurement tasks characterized by very high temperatures and challenging materials.
  • In November 2022, Teledyne FLIR launched its FLIR ONE Edge Pro, a wireless thermal-visible IR camera for mobile devices.

Mordor Intelligence has Segmented the IR Camera Market Based on Detector, Material, Type, End-user Vertical, and Geography:

  • By Detector
    • Cooled
    • Uncooled
  • By Material
    • Germanium
    • Silicon
    • Sapphire
    • Other Materials
  • By Type
    • Short-wavelength IR
    • Medium-wavelength IR
    • Long-wavelength IR
  • By End-user Vertical
    • Military and Defense
    • Automotive
    • Industrial
    • Commercial & Public
    • Residential
    • Other End-user Vertical
  • By Geography
    • North America 
      • United States 
      • Canada 
    • Europe 
      • United Kingdom 
      • Germany 
      • France 
      • Rest of Europe 
    • Asia-Pacific 
      • China 
      • India 
      • Japan  
      • Rest of Asia-Pacific 
    • Rest of the World 

In a nutshell, the Mordor Intelligence market research report is a must-read for start-ups, industry players, investors, researchers, consultants, business strategists, and all those who are looking to understand this industry. Get a glance at the IR Camera Market Report (2023-2028).

Mordor Intelligence constantly tracks industry trends. Some relevant market reports from the analysts that might be of interest to you:

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About Mordor Intelligence:

Mordor Intelligence is a market intelligence and advisory firm. At Mordor Intelligence, we believe in predicting butterfly effects that have the potential to change or significantly impact market dynamics.

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