SEATTLE, May 26, 2020 (GLOBE NEWSWIRE) -- Mid-wave infrared (mid-IR) is the spectral region where the majority of fundamental structural information is produced. Measurement in this region can offer vital information from outside the visual spectrum. Moreover, it facilitates the ability to sense temperature, presence, distance, motion, and mixture. Mid-IR is being adopted in various applications drones, machines, cameras, robots, buildings, fire departments, traffic light, traffic control, etc. Moreover, it finds application in military, law enforcement, border patrol, asthma treatment, and healthcare facilities.
The global mid-IR sensors market was valued at US$ 9.8Bn in 2019 and is projected to reach a value of US$ 112.4 Bn by 2027 at a CAGR of 35.7 % between 2020 and 2027.
Market Drivers
- Growing adoption of mid-IR sensors in motion and people sensing solutions is expected to accelerate growth of the global mid-IR sensors market during the forecast period
A motion detector is an electrical device that uses a sensor to detect nearby motion. These sensors measure infrared light radiating from the objects in its field of vision. These sensors find applications in alarms and automatic lighting applications. The demand for automatic lighting devices and alarms has increased significantly. Thus, these factors are expected to drive growth of the global mid-IR sensors market during the forecast period.
- Increasing adoption in the healthcare sector is expected to propel the global mid-IR sensors market growth over the forecast period
Mid-infrared spectral region spans between 3 and 30µm, which is typically used for medical research and instrumentation. This is due to the fact that many critical biomolecules such as lipids, proteins, and amides are comprised of strong characteristic vibrational transitions. Hence, common applications of mid-IR emitters are CO2 lasers, optical parametric oscillators (OPOs), free-electron lasers (FELs). Thus, these factors are expected to propel the global mid-IR sensors market growth over the forecast period.
Market Opportunities
- Growing demand for infrared detectors from emerging economies can present lucrative growth opportunities
- Rising application in fire detectors and gas analysis can provide major business opportunities
Market Restraint
High installation cost is expected to hinder the global mid-IR sensors market growth over the forecast period
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Key Takeaways
- North America holds the dominant position in the global mid-IR sensors market and is expected to witness significant growth over the forecast period 2020-27. This is owing to increasing adoption of IoT enabled devices in the North America region. IoT devices witnessed significant growth in the North America region. For instance, according to Coherent Markets Insights’, North America, IoT devices market is expected to register 23.1% CAGR during the forecast period. Thus, North America, region expected to witness significant growth in mid IR sensor market.
- Among type, Thermal Mid IR Sensors segment is expected to dominate the global mid-IR sensors market over the forecasted period 2020-27. This is owing to wide application thermal sensors across various industries is increased in the recent past, as it provides non-contact type temperature measurement and monitoring. Mid-IR sensor is being used at airport, hospitals and other locations to detect body temperature in Covid 19 pandemic. The use of mid-IR for thermal sensing is expected to further increase in the future period in healthcare sector.
- Among the applications, gas sensing, segment is expected to create a lucrative opportunity for global mid-IR sensors market as gas sensing can only done using mid IR sensors. The demand of gas sensing is increased in the industry such as cold storage plants where ammonia is used as cooling agent. Detecting leakage at early stage can reduce the chances of major accidents. Thus, gas sensing expected to create lucrative growth opportunities to the mid IR sensor market in the forecast period.
Competitive Landscape:
Key players involved in the global mid-IR sensors market are Daylight Solutions, Inc., Coractive High-Tech Inc., Structured Materials Industries, Inc., Quantum Composers, Inc., Maxion Technologies, Northrop Grumman Corporation, SenseAir, EKSPLA, Cascade Technologies, Inc., IPG Photonics Corporation, AdTech Optics, Inc., CMLaser Technologies Inc., and M-Squared Lasers Limited.
Key Developments:
Major companies in the market are focused on research and development activities, in order to enhance the market presence. For instance, in January 2020, Northrop Grumman Corporation completed successful free flight missile testing for its common infrared countermeasure (CIRCM) system for U.S. Army.
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Market Segmentation:
- By Type:
- Thermal Mid IR Sensors
- Photon Mid IR Sensors
- By Technologies:
- Thermocouple Sensors
- Bolometers
- Pyroelectric Sensors
- Photodiodes
- Image Sensors
- Multi-Spectral Sensors
- Plasmonic Sources
- Others
- By Applications:
- Thermal Imaging
- Gas Sensing
- Spectral Sensing
- Chemical Sensing
- Bio-Sensing
- Smart Sensors
- Others
- By Region:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa