Infrared Imaging and Wide Area Surveillance Infrared Imaging Market REPORT OVERVIEW
global infrared imaging and wide area surveillance infrared imaging market size was USD 9826.6 million in 2022 and market is projected to touch 19976.2 Million by 2031, exhibiting a CAGR of 8.2% during the forecast period.
Images that are invisible to the human eye are produced using infrared imaging. The device's electromagnetic operating range is between 9,000 and 14,000 nanometers. A wide range of end-user industries, including transportation, manufacturing, and information technology, can benefit from infrared imaging. In order to predict, detect, track, identify, classify, respond to, and resolve invasions, a wide-area surveillance system is an intelligence-based automated solution. This solution improved the situational awareness for the security of special events, key infrastructure, and force protection.
Wide-area surveillance and infrared imaging The infrared imaging and wide area surveillance infrared imaging market has undergone significant growth in recent years and is expected to experience explosive growth in the next years. The availability of high-resolution imagery that gives pilots a clear picture and the greatest range of view is essential for the success of airborne search and rescue, navigation, and situational awareness operations.
"COVID-19 Impact: Pandemic Effectuated the Emphasize and Downsized the Market Demand"
The COVID-19 pandemic has had a profoundly detrimental impact on the global economy on numerous levels, which is also apparent in the healthcare industry. The burgeoning industry for health care research and development is expected to have a substantial decline in sales during the lockout because to the closure of industrial facilities, severe shortage in raw material supply, and lack of competent workers. The supply chain and industrial activities experiencing a few minor setbacks can be used to extrapolate the pandemic's current consequences. Following COVID-19, a slow market recovery is predicted, which will present tempting opportunities for sales in many regions of the world in the years to come.
LATEST TRENDS
"Technological Advancements and Development Made in the Device to Inflate the Market Demand"
Machine vision market growth is being driven by the need for quality inspection in various sectors. High-speed component inspection is made possible by this technology, which also improves manufacturing efficiency. Furthermore, technological advancements like high-resolution cameras and increased bandwidth interfaces, among others, are driving the expansion of the machine vision market and opening up opportunities for the market for infrared imaging and wide area surveillance infrared imaging.
Infrared Imaging and Wide Area Surveillance Infrared Imaging Market SEGMENTATION
- By Type
Based on type; the infrared imaging and wide area surveillance infrared imaging market is divided into near IR (NIR), short wave IR (SWIR), mid Wave IR (MWIR), long Wave (LWIR) and others.
The part near IR (NIR) leads the type segment.
- By Application
Based on the application; the infrared imaging and wide area surveillance infrared imaging market is divided into industrial, commercial and others.
The part industrial is the leading type of the application segment.
DRIVING FACTORS
"Numerous Applications in Security and Surveillance to Advance the Market Share"
infrared imaging and wide area surveillance infrared imaging is largely utilised in a variety of applications, such as monitoring major events, tracing suspects, hazard and disaster management, route reconnaissance, and terminal and perimeter security. The market for wide area surveillance infrared imaging is expanding as a result of the rising number of criminal activities and public safety issues. The market infrared imaging and wide area surveillance infrared imaging primary segment is reconnaissance. The WAS infrared imaging market's segment for hazard and disaster management is expanding at the highest rate.
"Rising Demand Consumer Electronics and Aerospace Industry to Drive the Market Growth"
Companies in the life sciences are concentrating on applications for molecular and miniature imaging, which has led to cross-industry collaboration. The competition among the participants is also growing as more consumer electronics companies enter the industry. Due to structure monitoring, safety, pilot aid, and other reasons, the aerospace sector is utilising infrared imaging. It helps with investigations into fast-moving objects, material failure patterns, and many other things.
The market for infrared imaging will expand due to the rising demand for manufacturing processes that reduce risk. As infrared imaging technology continues to progress, new opportunities are opening up in a variety of fields, such as the capacity to detect anomalies precisely. The latest technologies, including quick recording and direct networking with mobile devices, are included in the gadgets.
RESTRAINING FACTORS
"The Higher Cost of the Infrared Cameras to Restrain the Market"
The limited usage of infrared cameras is a result of their expensive cost relative to other potential replacement technologies. Compared to LWIR and MWIR cameras, SWIR cameras are more expensive. Indium gallium arsenide (InGaAs) sensors, which are used in the majority of SWIR cameras and are an expensive semiconductor material, make up a significant portion of the camera's overall cost. Over the course of the forecast period, the aforementioned reasons are anticipated to constrain the infrared imaging and wide area surveillance infrared imaging market growth.
Infrared Imaging and Wide Area Surveillance Infrared Imaging Market REGIONAL INSIGHTS
"North America to Lead the Market with Presence of Developed Healthcare System"
The North American region led the market as a whole and generated more than one-fourth of worldwide market. The abundance of major industry players and the high frequency of new product launches in the area are the main drivers of regional market expansion. Because to advantageous reimbursement policies and backing from industry players, the region has a high rate of adoption of cutting-edge, expensive medical imaging equipment. The participation of prominent market players in clinical trials and research projects pertaining to the infrared imaging and wide area surveillance infrared imaging market share is anticipated to boost market growth in the region.
KEY INDUSTRY PLAYERS
"Key Industry Players to Promote the Market Expansion"
The market's expansion was significantly impacted by the techniques employed by market participants in recent years, such as extensions. The report covers details and information about the firms and their interactions with the market. The data is gathered and published through appropriate research, technological advancements, expansions, and expanding machinery and equipment. Other considerations taken into account for this market are the businesses that develop and provide new products, the geographic areas in which they function, mechanization, innovation strategies, generating the maximum revenue, and using their products to make a significant difference.
List of Market Players Profiled
- FLIR systems Inc. (U.S.A)
- DRS Technologies (U.S.A)
- Fluke Corporation (U.S.A)
- Axis Communication (Sweden)
- Sensors Unlimited (U.S.A)
- Leonardo (U.S.A)
- Xenics (Belgium)
- Opgal Optronic Industries (Israel)
- New Imaging Technologies (France)
- Allied Vision Technologies (Germany).
REPORT COVERAGE
This report covers a comprehensive backdrop analysis, an assessment of the parent market, intensive study in the market dynamics. Past historical, current, and projected size of the market from the point of both value and volume. Researching of recent industry developments, deep study on market shares and strategies of major players and the emerging niche segments and regional market areas are covered in the report.
| REPORT COVERAGE | DETAILS |
|---|---|
Market Size Value In |
US$ 9826.6 Million in 2021 |
Market Size Value By |
US$ 19976.2 Million by 2031 |
Growth Rate |
CAGR of 8.2% from 2021 to 2031 |
Forecast Period |
2024-2031 |
Base Year |
2023 |
Historical Data Available |
yes |
Regional Scope |
Global |
Segments Covered |
Type and Application |
Frequently Asked Questions
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1. What value is the market expected to touch by 2031?
Based on our research, the global infrared imaging and wide area surveillance infrared imaging market is projected to touch USD 19976.2 Million by 2031.
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2. What CAGR is the market expected to exhibit by 2031?
The infrared imaging and wide area surveillance infrared imaging market is expected to exhibit a CAGR of 8.2% by the forecasted year 2031.
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3. What are the driving factors of the market?
Numerous applications in security and surveillance and the rising demand from consumer electronics and aerospace industry are the driving factors of the market.
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4. Which are the top companies operating in the market?
FLIR systems Inc., DRS Technologies, Fluke Corporation, Axis Communication, Sensors Unlimited, Leonardo, Xenics, Opgal Optronic Industries, New Imaging Technologies, Allied Vision Technologies, Sofradir, Cox, C-Thermal, Ircameras, Princeton Infrared Technologies, Dali Technology, Tonbo Imaging, L3 Technologies, Raptor Photonics, Episenors, and others.
