Infrared Radiation (IR) Emitter and Receiver Market Size, Share, Growth, and Industry Analysis, By Type (Long Wave (LWIR), Short Wave IR (SWIR), Far Wave (FWIR) and Mid Wave IR (MWIR)), By Application (Consumer Electronics, IR Cameras and Sensors and Others), Regional Forecast To 2031

Updated On: 06 May 2024

Infrared Radiation (IR) Emitter and Receiver Market Report Overview

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The global infrared radiation (IR) emitter and receiver market size was USD 2894.3 million in 2022 & the market is expected to reach USD 3944 million in 2031, exhibiting a CAGR 3.5% of during the forecast period.

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market’s growth and demand returning to pre-pandemic levels once the pandemic is over.

The global infrared radiation (IR) emitter and receiver is also known as, infrared sensor. It is a device or electronic hardware that operate in infrared range of light. They are light emitting diodes that emit light in infrared spectrum. On the other hand, infrared receivers are devices that receive light from IR emitters and decode IR signals. Together they form a complete infrared sensor that is used in various applications. For instance, they are used in consumer electronics for remote controlling, in unmanned vehicles to sense obstacles and in military and aerospace for monitoring and measurement systems which are driving the market.

The global infrared radiation (IR) emitter and receiver market progression can be credited to the upsurge in the demand due to rising usage in remote controls and different types of devices such as DVD players and televisions. Hence, increasing production and sales of these consumer applications will elevate infrared emitter & receiver demand. Growing popularity of infrared imaging technologies across the world will fuel this market sales.

COVID-19 Impact: Pandemic led to increase in demand in healthcare industries

The effects of the COVID-19 pandemic are already being felt on a global level, the global infrared radiation (IR) emitter and receiver was significantly influenced. The outbreak of COVID-19 had a negative impact on several markets. Various countries went into lockdown. With sudden pandemic, all kinds of businesses observed disruptions. The pandemic had a significant impact on the semiconductor & electronics as well. There has been an increase in demand for infrared radiation technology in the healthcare industry, where it is used for temperature screening and monitoring of patients with COVID-19 symptoms.

Latest Trends:

"Integration of infrared technology with other technologies to surge market growth"

Infrared technology is being integrated with other technologies, such as artificial intelligence and machine learning, to improve performance and accuracy in various applications. This integration is leading to the development of new applications in areas such as autonomous vehicles, robotics, and smart homes.

Infrared Radiation (IR) Emitter and Receiver Market Segmentation

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• By Type

Based on type, the global infrared radiation (IR) emitter and receiver market is divided into long wave (LWIR), short wave IR (SWIR), far wave (FWIR) and mid wave IR (MWIR).

• By Application

Based on application, the market is divided into consumer electronics, IR cameras and sensors and others.

Driving Factors:

"Increasing usage of infrared cameras to elevate market growth"

Infrared cameras are used in a variety of industrial and commercial applications, such as predictive maintenance, building inspections, and process control. They are used to detect and diagnose equipment failures and anomalies before they result in downtime or damage. They are also used in the healthcare industry for various applications, such as medical imaging, dermatology, and temperature measurement. The non-invasive nature of infrared imaging makes it a popular choice for medical applications.

"Increasing adoption of infrared thermometers to propel product demand in the global market"

Infrared thermometers are becoming increasingly popular for non-contact temperature measurement in various applications, including medical, industrial, and commercial settings. This is driving the demand for infrared radiation emitters and receivers that are used in these devices.

"Development of autonomous vehicles to offer growth opportunities"

The development of autonomous vehicles is driving the demand for infrared radiation emitters and receivers, as these technologies are used for object detection and tracking, which are essential for ensuring safe and efficient operation of self-driving vehicles.

RESTRAINING FACTORS

"High cost and competition may hinder market progress"

The cost of infrared radiation emitter and receiver systems can be quite high, which can limit their adoption by some consumers or businesses. The short-wave infrared (SWIR) cameras use InGaAs technology for spectroscopic analyses owing to the high-peak wavelength of emitted light and the quantum efficiency of these sensors. The InGaAs sensor architecture combines the silicon-based CMOS readout circuit with an InGaAs photosensitive array for the wavelength sensitivity of the sensor. However, this process is complex, time-consuming, and expensive. There is a significant amount of competition in the market, which can limit the growth and profitability of some companies.

Infrared Radiation (IR) Emitter and Receiver Market Regional Insight

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"North America to dominate the market for huge demand for electronic products "

North America is estimated to be the fastest-growing region in the overall market over the forecast period, owing to major manufacturer of electronic goods and also has a large number of end-use industries. The U.S. is one of the leading manufacturers of consumer electronics in the world. Additionally, the country is also a major exporter of these products. This is likely to fuel the demand for infrared radiation emitters and receivers in North America over the forecast period.

Asia-Pacific is expected to be the fastest-growing region in the global infrared radiation emitter and receiver market over the forecast period. The growth of this region can be attributed to the presence of a large number of end-use industries such as automotive, consumer electronics, and media and entertainment. Additionally, the region is also a major exporter of electronic goods. This is anticipated to drive the demand for infrared radiation emitters and receivers in the Asia Pacific over the forecast period.

Key Industry Players

"Market Players to Boost Market Growth by looking for mergers and collaborations in the market"

The report delivers information about the list of market players and their operations in the industry. The information is collected and reported with proper research, technological developments, acquisitions, mergers, expanding production lines, and partnerships. Other aspects examined for this market include companies producing and introducing new products, regions they conduct their operations in, automation, technology adoption, generating the most revenue, and making a difference with their products.

List of Market Players Profiled

• Excelitas Technologies (U.S.)
• FLIR Systems (U.S.)
• Honeywell International (U.S.)
• Murata Manufacturing (Japan)
• Hamamatsu Photonics (Japan)
• Leonardo DRS (U.S.)
• OSRAM Opto Semiconductors (Germany)
• Sofradir (France)
• Texas Instruments (U.S.)
• Vishay Intertechnology (U.S.)

Report coverage

This report examines an understanding of the global infrared radiation (IR) emitter and receiver market’s size, share, growth rate, segmentation by type, application, key players, and previous and current market scenarios. The report also collects the market’s precise data and forecasts by market experts. Also, it describes the study of this industry’s financial performance, investments, growth, innovation marks, and new product launches by the top companies and offers deep insights into the current market structure, competitive analysis based on key players, key driving forces, and restraints that affect the demand for growth, opportunities, and risks.

Furthermore, the post-COVID-19 pandemic’s effects on international market restrictions and a deep understanding of how the industry will recover, and strategies are also stated in the report. The competitive landscape has also been examined in detail to provide clarification of the competitive landscape.

This report also discloses the research based on methodologies that define price trend analysis of target companies, collection of data, statistics, target competitors, import-export, information, and previous years’ records based on market sales. Moreover, all the significant factors which influence the market such as small or medium business industry, macroeconomic indicators, value chain analysis, and demand-side dynamics, with all the major business players have been explained in detail. This analysis is subject to modification if the key players and feasible analysis of market dynamics change.