Infrared Camera Market (Technology - Cooled IR Camera, and Uncooled IR Camera; End Use - Defense & Military, Industrial, Commercial Surveillance, Automotive, Healthcare, and BFSI): Global Industry Analysis, Trends, Size, Share and Forecasts to 2026

A recent report published by Infinium Global Research on the infrared camera market provides in-depth analysis of segments and sub-segments in the global as well as regional infrared camera market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional infrared camera market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast, and dollar values of the global infrared camera market. According to the report, the global infrared camera market is projected to grow at a CAGR of 7.8% over the forecast period of 2020-2026.

Market Insight

An Infrared camera produces an image similar to that of a regular camera. But unlike a regular camera, it is a non-contact device that detects infrared energy and converts it into an electronic signal. This signal is then processed to produce a thermal image on a display and perform temperature calculation. The infrared camera system is mostly used for long-range imaging for object detection, identification, and classification. Infrared cameras are also used to operate in harsh environments such as water vapors, smoke, fog, and haze. The IR cameras are classified based on technology into cooled and uncooled infrared imaging. Cooled infrared detectors are contained in vacuum-sealed cases and uncooled infrared detectors use sensors operated at ambient temperature. IR Camera market is segmented into three categories monitoring and inspection segment, detection segment, security, and surveillance segment.

The outbreak of pandemic such as COVID-19 has increased the demand for IR cameras across the world. Extensive screening of people for the disease is the major driver for the growth of the global IR cameras market. Many countries are using IR cameras for surveillance to identify and track people suspected to be infected by the COVID-19. This can help to control the spread of virus and reduce infection rates. However, lockdown measures and decreased productions in several small and medium scale industries led to a fall in their profitability, resulting in low demand for IR cameras from these organizations. In addition, severe supply disruptions are also likely to be witnessed in the market. However, over the long term, the market is expected to gain stability due to the growing demand for public safety and as camera costs have dropped and deployment has skyrocketed.

The growing demand for infrared imaging products from military, commercial, and manufacturing industries is the major driver for the market. The IR cameras are used in security and surveillance, medical, and monitoring, and inspection applications. The armed forces of several countries adopt IR cameras for object or human movement monitoring, nuclear defense detection, and radiological detection. Moreover, IR camera enables automated, non-contact temperature measurement and packaging inspections applications. It also enables easy inspection of leakage in the oil and gas industry. Such advantages offered by the IR cameras are further augmenting their adoption. However, the high cost of the product is one of the major challenges for the growth of the market. Nevertheless, the advancement in technology commences to a reduction in the price of the product is expected to boost the demand for IR cameras. IR cameras are now integrated into self-driving cars for better performance in harsh environments and better visibility at night. They are also being used in drones to perform various tasks.

North America generated the largest revenue in the IR camera market globally. This region has high adoption of advanced technology. Moreover, countries North American region invests heavily in military and defense sectors, which drives the adoption of IR cameras in the military and defense sectors. Moreover, factors such as better economic conditions, higher expenditure on healthcare, and the presence of major manufacturers in the region further propel the growth of the North American IR cameras market. On the other hand, the Asia Pacific IR camera market has witnessed the fastest growth in the market owing to the high demand for IR cameras in the military, defense, industrial, security, and surveillance.

Segment Covered

The report on global infrared camera market covers segments such as technology, and end-use. On the basis of technology, the sub-markets include cooled IR camera, and uncooled IR camera. On the basis of end-use, the sub-markets include defense & military, industrial, commercial surveillance, automotive, healthcare, and BFSI.

Companies Profiled:

The report provides profiles of the companies in the market such as Samsung Techwin, FLIR System Inc., Axis Communications AB, Leonardo DRS, Global Sensor Technology Co., ltd., Xenics, AIM Infrarot-Module GmbH, Lynred, L3 Technologies, and Boston Electronics Corporation.

Report Highlights:

The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the infrared camera market. Moreover, the study highlights current market trends and provides forecasts from 2020-2026. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.