Booming Manufacturing Activities Generate Lucrative Opportunities for Global Infrared Detectors Market

Transparency Market Research, in its latest report, states that global infrared detectors market is expected to show a remarkable growth rate in the coming years. The global market is estimated to register a CAGR of 8.9% during the forecast period of 2017 and 2022. Rising applications of infrared detectors in various industrial sectors is expected to have a positive influence on the overall market. These detectors are extensively used in domains such as medical, automotive, industrial, and military amongst others. Exploration, sensing, and detection are the very reasons why these detectors are used in the field. 

Q. What are the various factors supporting the uptake of infrared detectors market?

The rapid technological developments and the tremendous amount of investment in research and development has led to introduction of sophisticated detectors. This has been identified as the primary growth driver of the global infrared detectors market in the past few years. The increasing number of applications such as use of infrared detectors for measuring temperatures in vehicles, exploration of oil fields, and detection of gas leak or flame have upped the demand. A wide range of manufacturing and retail sectors are deploying infrared detectors for testing performance and quality of products. Status of electrical peripherals, motor functioning, bearings, and functioning of boilers is also determined with the help of these detectors. All of these factors have made a generous contribution toward soaring revenue of the global market.

Q. Which regional market is estimated to lead the pack during the forecast period?

On the basis of region, the global infrared detectors market is segmented into North America, Asia Pacific, Asia Pacific Excluding Japan, Europe, Latin America, the Middle East and Africa, and Rest of the World. Out of these, Asia Pacific Excluding Japan is anticipated to dominate the overall market in the near future. The robust manufacturing sector, investments in industrial sectors, and an emerging economy are some of the factors that will support this regional market’s growth. The regional market is estimated to register a steady CAGR of 9% in the global market between 2017 and 2022.

Q. What are the technologies and products that will make a mark in the global infrared detectors market?

The leading technology in the global infrared detectors market is the cooled infrared detectors. This technology is expected to register a CAGR of 8.2% during the forecast period of present an opportunity worth US$500 mn in the foreseeable future. Presently, this technology sectors holds a share of about 67% in the overall market.  The most popularly used product in the global market is the bolometer. This product segment held a share of 33% in the overall market. By the end of 2022, this product segment is expected to generate an opportunity worth US$200 mn. 

Some of the key players operating in the global infrared detectors market are Hamamatsu Photonics k.k., Excelitas Technologies Corp, Murata Manufacturing Co. Ltd, Texas Instruments Incorporated, VIGO System S.A, Raytheon Company, OMRON Corporation., Sharp Corporation, Flir Systems Inc., and BAE Systems, Inc. These top companies are expected to collaborate with universities and other institutes to develop relevant products. Research and development is expected to be an integral part in the development of these products in the near future.


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