Technavio has announced the release of their research report on the Global Infrared Sensors Market for the forecast period 2019-2023. This infrared sensors market analysis report segments the market by application (commercial, healthcare, automotive, and others), technology (thermopile, pyroelectric, microbolometers, InGaAs, and MCT), and geography (the Americas, APAC, and EMEA).
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Technavio forecasts the global infrared sensors market size to grow by almost USD 296 million during 2019-2023. (Graphic: Business Wire)
Global infrared sensors market size will grow by almost USD 296 million during 2019-2023, at a CAGR of more than 11%. However, the growth momentum of the market is expected to decelerate due to a decline in the year-over-year growth. There is an increasing focus on the development of smart cities by many countries. The companies such as IBM, Microsoft, Cisco, and Schneider Electric have been supporting the development of smart cities by announcing initiatives and developing IT solutions. The smart city requires extensive machine type communication applications such as smart metering, property monitoring, logistics management, and smart parking, which use infrared sensors.
Adoption of night vision technologies in smart doorbells
Many smart doorbell manufacturers have been integrating night vision technologies in their products. These smart doorbells are also being integrated with motion sensor technology to notify the homeowner in case of any intrusion. The customers will need to spend more to acquire the latest and best designs in smart doorbells as they offer several new features. The features such as night vision technologies in smart doorbells will drive the need to integrate infrared sensors in these devices.
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“More than 45% of the market’s growth will come from the APAC region. Several companies have set up their production centers in this region because of the abundant availability of raw materials and low establishment and labor costs. The increasing demand for several consumer electronic devices is expected to drive the demand for infrared sensors that will be integrated into these devices,” says an analyst at Technavio.
The infrared sensors are used in LIDAR systems in autonomous cars as these systems can locate the area and position of people and objects around vehicles and assess the speed of an object or people while in motion. The adoption of LIDAR systems will increase with a rise in autonomous cars, which will drive the need for infrared sensors. Several investments have been made in the development of self-driving cars. For instance, in August 2018, Toyota announced an investment of USD 500 million in Uber for self-driving car program as the two companies expand their partnership on the development of self-driving cars.
View a snapshot of the report for a more detailed overview of the market and the segmentation covered in this report
This infrared sensors industry research report provides an in-depth analysis of the major drivers, upcoming trends, and challenges that will impact market growth over the forecast period. The report analyzes the competitive landscape and offers details on several infrared sensors products manufacturers including –
- Excelitas Technologies
- FLIR Systems
- Hamamatsu Photonics
- Murata Manufacturing
- Sofradir
Some of the key topics covered in the report include:
Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. Technavio’s report library consists of more than 10,000 reports covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies.
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