Infrared Cameras Market Research Report 2021-2031
The infrared cameras market size is projected to reach US$ 11.92 billion by 2031 from US$ 6.72 billion in 2023. The market is expected to register a CAGR of 7.4 % in 2023–2031. The increasing awareness of thermal imaging's benefits is likely to remain a key infrared camera market trend.
Infrared Cameras Market Analysis
The market for infrared cameras has grown significantly worldwide due to a variety of uses in sectors including healthcare, automotive, and security. By providing non-contact temperature measurement, night vision, and defect identification, infrared cameras improve operational effectiveness. Thanks to technological improvements, cameras with better image quality are now smaller and more reasonably priced. As more sectors come to understand the benefits of infrared imaging for energy efficiency, surveillance, and predictive maintenance, the market is set for future growth. However, there are still issues with regulation and competition that affect market dynamics. It is anticipated that ongoing innovation and growing industrial use will maintain the market's rising trend.
Infrared Cameras Market Overview
Infrared cameras are extensively employed in surveillance and security applications. Even in total darkness, they are still able to detect movement and take thermal pictures. They can, therefore, be used for keeping an eye on big spaces, spotting trespassers, and stopping theft and vandalism.
Furthermore, by integrating these cameras with cutting-edge video analytics, threat identification and overall security protocols can be strengthened. Smart IR technology is included with some security cameras. This method eliminates the issue of an object being too bright by adjusting the infrared LEDs' brightness based on the distance of the object from the camera. It solves the problem of infrared LEDs blotting out photos when objects are in close proximity to the camera
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Infrared Cameras Market: Strategic Insights
Market Size Value in US$ 5,259.70 Million in 2019 Market Size Value by US$ 9,055.58 Million by 2027 Growth rate CAGR of 7.1% from 2020-2027 Forecast Period 2020-2027 Base Year 2020
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Infrared Cameras Market: Strategic Insights
| Market Size Value in | US$ 5,259.70 Million in 2019 |
| Market Size Value by | US$ 9,055.58 Million by 2027 |
| Growth rate | CAGR of 7.1% from 2020-2027 |
| Forecast Period | 2020-2027 |
| Base Year | 2020 |
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Infrared Cameras Market Drivers and Opportunities
Growing End-Use of Infrared Cameras in Surveillance and Security
Public safety is given top attention worldwide. Public safety groups are investing in a variety of cutting-edge technologies to ensure efficacy. In reaction to the increase in crime, antisocial behavior, and terrorist attacks, the government has put innovative technologies and security measures into place. It is now essential to create workable, safe, and affordable solutions as well as to enhance the system's ability to respond to catastrophic attacks.
In addition, a variety of infrared cameras are being used for perimeter surveillance, enforcement, homeland security, and defense monitoring. The market is growing because of improved features like great performance, enhanced imaging capabilities, and high reliability. To establish a comprehensive surveillance system, these cameras can also be connected with pan and tilt positioning devices.
Increasing Infrared Camera Use for SWIR
Long and medium ranges are the main applications for cooled infrared cameras. But as technology advances more, these infrared cameras are being used for closer-quarters applications. InGaAs focal plane arrays with low dark current and poor pixel counts are used in cooled infrared cameras. Infrared cameras are utilized for SWIR metrology measurements for short-range end applications. Furthermore, these infrared short-range cameras enable low noise levels at roughly 220 frames per second. Numerous firms are developing products for medium and long wavelengths as well as short ranges. For a variety of applications, infrared cameras for SWIR improve eyesight and encourage passive cooling. These short-range cameras are expected to be used for laser beam profiling, spectroscopy, hyperspectral imaging, and semiconductor inspection.
Infrared Cameras Market Report Segmentation Analysis
Key segments that contributed to the derivation of the infrared cameras market analysis are type, component, wavelength, and application.
- Based on the offering, the infrared cameras market is segmented into fixed and portable. The fixed segment held a larger market share in 2023.
- By component, the market is segmented into IR lenses, IR sensors, processors, and others.
By wavelength, the market is segmented into LWIR, MWIR, NIR, and SWIR.
By application, the market is segmented into consumer electronics, security and surveillance, aerospace and defense, and others. The security and surveillance segment held a larger market share in 2023.
Infrared Cameras Market Share Analysis by Geography
The geographic scope of the infrared cameras market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South America/South & Central America. In terms of revenue, APAC accounted for the largest infrared camera market share. Since the need for security and surveillance systems has grown, businesses across a range of industries have come to understand how important infrared cameras are for ensuring efficient detection. Because of the availability of sophisticated, upgraded technologies, the rise in demand for smart electronics, and the expansion of the industrial sector, this is the most lucrative market for infrared cameras.
Infrared Cameras Market Report Scope
Infrared Cameras Market News and Recent Developments
The infrared cameras market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market for speech and language disorders and strategies:
- In January 2024, Samsung Electronics introduced the Galaxy S24 Ultra, S24+, and S24, promising new mobile experiences with Galaxy AI. The Galaxy S series means to rethink client strengthening with AI. It offers highlights like intelligent text and call interpretations for consistent communication, upgraded creative freedom through the ProVisual Engine, and further developed search abilities for finding the world around them. (Source: Samsung Electronics, Press Release)
- In January 2024, Valeo and Teledyne FLIR, a division of Teledyne Technologies Incorporated, started a strategic partnership to introduce thermal imaging innovation in the automotive area, expecting to further develop road user safety. (Source: Valeo, Press Release)
Infrared Cameras Market Report Coverage and Deliverables
The “Infrared Cameras Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Market dynamics such as drivers, restraints, and key opportunities
- Key future trends
- Detailed PEST/Porter’s Five Forces and SWOT analysis
- Global and regional market analysis covering key market trends, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Type , Component , Wavelength , and Application
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
The growing end-use of infrared cameras in surveillance and security and increasing infrared camera use for SWIR are the major factors that propel the global infrared cameras market.
The global infrared cameras market was estimated to be US$ 6.72 billion in 2023 and is expected to grow at a CAGR of 7.4 % during the forecast period 2023 - 2031.
The increasing awareness of thermal imaging's benefits is anticipated to play a significant role in the global infrared cameras market in the coming years.
The key players holding majority shares in the global infrared cameras market are Leonardo, Opgal Optronic Industries Ltd, Teledyne DALSA, Seek Thermal, Inc., and LYNRED.
The global infrared cameras market is expected to reach US$ 11.92 billion by 2031.
- Leonardo
- Opgal Optronic Industries Ltd
- Teledyne DALSA
- Seek Thermal, Inc.
- LYNRED
- Thermoteknix Systems Ltd
- Axis Communications AB
- FLIR Systems, Inc.
- Fluke Corporation
- Infrared Cameras Inc.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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