May 28, 2020
According to the research report titled ‘Infrared Camera Market Size By Product, By Technology, By Wavelength, By Application, Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2020 – 2026’, available with Market Study Report LLC, global infrared camera market is predicted to witness lucrative growth by the year 2026.
Infrared cameras help in measuring and detecting the infrared energy emitted from objects. The product then transforms the infrared data into an electronic image which showcases the visible surface temperature of the recorded object. IR camera comprises of an optical system that directs infrared energy on a detector chip (sensor array), which includes abundant detector pixels. Each pixel that is located inside the detector chip reacts to the infrared energy and develops an electronic signal. The processor in the camera then uses this signal generated from each pixel and develops a colored map of the object based on surface temperature.
Rising adoption of infrared cameras owing to features such as better resolution, automated functions, voice annotations, recording & streaming as well as analysis & reporting is a major factor driving the market growth.
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As per product type, handheld infrared camera market segment accounted for 30% share in 2019 and is poised to acquire significant returns in the forthcoming years. The product offers better durability, reliability, and ability to operate under lighting and all-weather conditions. Moreover, the product has a plethora applications including electrical contractors, building inspection, insulation experts, plant maintenance, HVAC, energy audits and automotive.
In terms of technology, cooled IR market segment is reckoned to expand substantially during the forecast period. Cooled infrared cameras offer better range and performance which further allows for viable and cost-effective solution across applications such as homeland security and coastal surveillance.
By wavelength, near infrared camera segment is set to accumulate considerable revenues in the ensuing years, primarily due to their widespread adoption in household thermal applications. Alternatively, short-wave segment is predicted to showcase robust growth trends through 2026, owing to growing demand for autonomous and ADAS vehicles.
Worldwide infrared camera market share from BFSI application segment is expected to grow significantly during the estimated timeframe. Rising adoption of infrared cameras for security and surveillance in BFSI sector is fueling the segmental growth.
Considering the geographical landscape, infrared camera market in Latin America is estimated to garner notable returns in the subsequent years. Improving economic conditions in Mexico and Brazil along with rising foreign direct investments and globalization are swaying the business dynamics in the region.
Xenics, Testo AG, SiOnyx LLC, Seek Thermal, Raytheon Co., Panasonic Corp., Optris GmbH, OMEGA Engineering Inc. (Spectris PLC), InfraTec GmbH, Honeywell International Inc., OPGAL Optronic Industries Ltd., Hanwha Techwin Co. Ltd. (Hanwha Aerospace Co. Ltd.), Fujifilm Holdings Corp., Fluke Corp., FLIR Systems, Leonardo DRS (Leonardo S.p.A.), DIAS Infrared GmbH, Infrared Cameras Inc., and Axis Communications AB are the major contenders in global infrared camera industry.