Near IR Cameras Market Size, Share, Growth, and Industry Analysis, By Type (CCD NIR Cameras, CMOS NIR Cameras, Others), By Application (Industry, Measurement & Detection, Others) Regional Forecast By 2031

Updated On: 29 April 2024

Near IR Cameras Market Report Overview

• 
• Request a Free sample to learn more about this report

The near IR cameras market size was USD 986.7 million in 2022. As per our research, the market is projected to touch USD 1839.63 million by 2031, exhibiting a CAGR of 7.2% during the forecast period.

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

An infrared camera improves object recognition, identification, and classification by detecting infrared energy from any object within a specific Field of View (FOV). The camera is frequently employed for industrial, commercial, and military applications. The infrared camera industry is expanding as a result of rising commercialization, falling sensor and detector costs, and improvements in micro bolometer technology. An infrared camera improves object recognition, identification, and classification by detecting infrared energy from any object within a specific Field of View (FOV).

COVID-19 Impact: Imposed Restrictions in the Economy Resulted in Decline in the Market

The COVID-19 outbreak caused temporary business closures as well as supply chain and manufacturing disruptions, which in turn reduced the development of telecom infrastructure and had a negative effect on the sales and marketing efforts of rugged phone companies competing in the market. The effects were severe, particularly for startups and small- to medium-sized businesses operating in this industry. Companies did, however, make a lot of restructuring efforts to address the supply chain difficulties and improve collaboration with suppliers and partners to lessen the negative market impact.

LATEST TRENDS

"Growth of the market in recent years"

The camera is frequently employed for industrial, commercial, and military applications. The infrared camera industry is expanding as a result of rising commercialization, falling sensor and detector costs, and improvements in microbolometer technology. The LWIR camera market will expand rapidly because of its capability to function well in challenging conditions like smoke or aerosol. With the need for intra-scene imaging of both hot and cold objects, these cameras are far more effective in detecting items that span a wide temperature range. Due to the cameras' long-range FOV, they are frequently used for long-distance surveillance.

Additionally, cameras with LWIR capabilities are employed in firefighting and military operations. These are set up to cover the entire area at a particular height and distance. To maintain complete perimeter coverage, fixed short-range infrared cameras with long-range surveillance capabilities are employed in airport perimeter security. Pan-Tilt-Zoom (PTZ) and handheld products are among the other market segments by product type.

Near IR Cameras Market Segmentation

• 
• Request a Free sample to learn more about this report

• By Type

Based on type the global near IR cameras market is classified as CCD NIR Cameras, CMOS NIR Cameras, Others.

• By Application

Based on application the global near IR cameras market is classified as industry, measurement & detection, others.

DRIVING FACTORS

"The Utilization as a Catalyst to Boost the Market Growth"

The growth of the global infrared camera market is anticipated to be significantly impacted by factors such as the expansion of infrared camera applications in security and surveillance, the expansion of infrared camera adoption in quality control and inspection, the high initial acquisition and maintenance costs of infrared cameras, and emerging trends towards the expansion of infrared camera applications in commercial end use and for SWIR. These elements could either boost or restrain the expansion of the infrared camera market. The world places the highest priority on public safety. To ensure effectiveness, public safety organisations are spending heavily in a variety of innovative technology. As a result of an increase in crime, antisocial behaviour, and terrorist attacks, the government has implemented new technology and security measures to protect the people.

"Extensive Application in Laundering Process to Multiply the Production and Market Growth"

It has become imperative to create secure, affordable, and workable solutions as well as to upgrade the system and respond for catastrophic attacks. In the sectors of defence, homeland security, perimeter surveillance, and law enforcement, several infrared cameras are being used for surveillance. The market is expanding as a result of improved features such outstanding performance, enhanced imaging capabilities, and high field reliability. These cameras can be used with a pan and tilt positioning device to provide a comprehensive surveillance system for a variety of applications. Additionally, even in total darkness, infrared cameras provide long range detection up to 50 km. This feature boosts market expansion and presents profitable chances for the global market share of infrared cameras.

RESTRAINING FACTORS

"Several Challenges Associated with the Local Irritation to Restrain the Market"

Due to their high cost and numerous challenges, infrared cameras are primarily used in developing countries. The market's expansion is anticipated to be hampered by the lack of enough financing from the government in developing nations like Qatar, South Korea, and others for the adoption of security technology. The market for infrared cameras is hampered by the requirement for significant expenditure to adopt upgraded technology. Enhanced surveillance camera prices vary depending on the features, the quantity of cameras, and the monitoring systems bought. These infrared cameras typically require expensive installation and maintenance, which raises the price of the equipment. Therefore, it is projected that early investment will limit the development of the market analysis for infrared cameras.

Near IR Cameras Market Regional Insights

• 
• Request a Free sample to learn more about this report

"North American Region to Dominate the Market with Extensive Utilization and Multiplying Manufacturers"

Due to an increase in military spending, the Asia Pacific infrared camera market will grow at a CAGR of over 10.5% during the forecast period. SIPRI estimates that in 2018, military spending in the Asia-Pacific region totaled USD 507 billion, or 28% of all military spending worldwide. The nations in the region are investing a sizeable portion of their budgets in the installation of high-security surveillance cameras in order to catch criminals, enhance traffic surveillance, and install in significant infrastructure projects. Due to its ability to provide IR LEDs to manufacturers at a lower cost, Southern China dominates the Chinese market. Southern China is easily accessible from Hong Kong, a technology hub, which will assist manufacturers by lowering their operating costs.

KEY INDUSTRY PLAYERS

"Financial Players to Contribute Towards Expansion of Market"

This market is extremely competitive and consists of various global and regional players. Major players are involved in strategizing various plans such as mergers and acquisitions, partnerships, introduction of new and enhanced products, along with joint ventures. The report is extensive research of a list of market players who contribute towards the expansion of the market. The information is a collusion of latest technological developments, trends, production lines mergers and acquisitions, market study and others. Other factors such as regional wise analysis and segment wise analysis are also considered to understand the market share, product growth, revenue growth and others during the forecasted period.

List of Market Players Profiled

• JAI (India)
• FLIR Systems (US)
• Allied Vision Technologies (France)
• IDS (US)
• Basler (Switzerland)
• HORIBA Scientific (Japan)
• Lumenera (Canada)
• Qimaging (US)
• Xenics (Belgium)
• Photonfocus (Swiss)
• Infrared Cameras (South Africa)

REPORT COVERAGE

The SWOT analysis and information on future developments are covered in the study. The research report includes a study of several factors that promote market growth. This section also covers the range of numerous market categories and applications that could potentially affect the market in the future. The specifics are based on current trends and historical turning points. The state of the market's components and its potential growth areas over the following years. The paper discusses market segmentation information, including subjective and quantitative research, as well as the impact of financial and strategy opinions. Additionally, the research disseminates data on national and regional assessments that take into account the dominant forces of supply and demand that are influencing market growth. The competitive environment, including market shares of significant competitors, is detailed in the report along with fresh research methodology and player strategies for the anticipated time.