According to a new market research report published by Credence Research “Infrared Sensors Market(Wavelength Type – Short Wave, Medium Wave and Long Wave; Detection Technology – Cooled and Uncooled; Applications – Climatology, Surface Feature Detection, Barcode Decoding, Flame Detection and Vivo Imaging; End-user – Consumer Electronics, Oil & Gas, Mining, Aerospace & Defense, Automotive, Manufacturing, Telecommunication, Chemicals and Healthcare) Market – Growth, Future Prospects and Competitive Analysis, 2018 – 2026”, the global infrared sensors market set to expand with CAGR of 7.5% throughout the forecast period to cross US$ 592.5 Mn by 2026.
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Market Insights
The overall infrared sensors market is set to witness promising growth over the forecast period owing to rise in safety concerns across industrial sector worldwide. Infrared sensors are vital element for several safety devices used for detecting flame or gas leakages along with motion sensing to avoid destructive events. Factors such as product affordability as well as low power consumption provided much needed impetus to infrared sensors market. Another driving factor for infrared sensors market growth is increasing initiatives for passenger safety and security by automobile manufacturers. With growing events of accidental damages, safety devices have become an imperative part of automobiles. Infrared sensors detect parameters such as heat, speed & obstacles and plays vital part in other precautionary measures in automobile to evade any menace. Also, such sensors find vital application in numerous sensing devices that provide information regarding different factors ensuring comfort, safety, and security. With strong growth in automotive sector, infrared sensors expected to witness significant growth through following years.
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Overall infrared sensors market segmented based on wavelength type, detection technology, applications and end-user. By wavelength type, market led by long-wave infrared sensors accounting for over 40% of the total market value. This is chiefly due to higher utilization of long-wave infrared sensors for flame detection, in vivo imaging and collecting geothermal data among others. Asia Pacific was the largest market for infrared sensors in 2017. Region accounted for more than 30% of total market value generated worldwide. As well as, Asia Pacific set to register the highest growth throughout the forecast period, primarily due to high penetration of infrared sensors market in burgeoning industrial centers such as Japan, China, India and Taiwan.
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Infrared sensors market strongly supported by business organizations having heavy dependence over sensing activity. These type of sensors contributing important role in devices with application of safeguarding homes, conserving energy, and providing comfort. From motion & presence detection of gas to thermometry and indoor climate control applications, organizations are meeting consumers’ expectations with an important role of infrared sensors. With constant rise in wireless technologies worldwide, infrared sensors are set to witness higher demand in smart modules. Infrared sensors detect and receive changes in motion, light and temperature, which is vital for communicating change in environment in the form of information. Effect of which, rising demand for wireless communication, batteries and information storage capacity stimulates the demand for subsequent infrared sensors market.
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