The
global market for infrared sensors exhibits a consolidated structure,
finds a report by Transparency Market Research (TMR). The top four
players in this market, namely Murata Manufacturing, FLIR Systems,
Hamamatsu Photonics, and Excelitas Technologies, together accounted
for more than 85% in this market in 2015.
As
these players are aggressively focusing on innovation and
advancements in the current offering to gain greater visibility, the
competition within the market is likely to intensify further in the
years to come.
Browse
The Report:
http://www.transparencymarketresearch.com/infrared-sensors-market.html
As
per TMR’s estimations, the global market for infrared sensors,
which stood at US$238.8 mn in 2015, is anticipated to expand at a
healthy CAGR of 12.80% during the period from 2015 to 2024,
increasing the opportunity in this market to US$692.8 mn by the end
of the forecast period. The oil and gas sector has emerged as the key
end user of infrared sensors and is expected to retain its position
over the next few years.
Rising
Usage of Infrared Sensors in Motion Sensing to Ensure North America’s
Dominance
Geographically,
the research report categorizes the worldwide market for infrared
sensors into North America, Asia Pacific, Europe, Latin America, and
the Middle East and Africa. It further presents a comprehensive
analysis of the global market on the basis of the performance of
these regional markets. Among these, the most prominent share in this
market has been acquired by North America and Europe, holding more
than 55% in 2015. North America, between the both, has been
registering a greater demand for infrared sensors, and is expected to
continue doing so throughout the forecast period. The increasing
usage of infrared sensors in motion sensing and various other defense
applications is anticipated to propel the North America market for
infrared sensors in the coming years.
In
Europe, the augmenting utilization of infrared sensors in unmanned
aerial vehicles and drones, and in motion sensing too, is likely to
drive the market’ growth. Led by the growing demand for these
sensors in the U.K, Germany, France, Russia, Italy and the Rest of
Europe, the Europe market for infrared sensors is expected to
progress substantially over the coming years.
On
the other hand, Asia Pacific is anticipated to offer the most
promising opportunities to infrared sensor manufacturers in the near
future, on account of the untapped potential in Asian economies, such
as India, Japan, and China. The increase in research and development
activities, rise in the demand for automation in the industrial and
the construction sectors, and the growing demand for consumer
electronics, such as tablets, smartphone, and laptops, are also
expected to stimulate the market for infrared sensors in Asia Pacific
over the forthcoming years.
Decline
in Retail Price of Infrared Sensors to Fuel Demand
“The
global market for infrared sensors is heavily influenced by the
significant rise in security concerns among consumers,” says the
author of this report. The increasing demand for security at
residential and, especially, non-residential places, such as
hospitals, offices, and hotels is anticipated to boost the demand for
infrared sensors across the world over the forecast period.
The
decrease in retail prices of these sensors, thanks to their
considerably small sizes and less complexity, is another important
factor that is likely to fuel the demand for infrared sensors
remarkably in the near future. The growing trend of automation across
various end-use industries, such as semiconductor and electronics,
aerospace and defense, and medical and healthcare is also expected to
drive the growth of this market, worldwide, over the next few years.
The high manufacturing cost and the presence of stringent government
regulations, however, may restrict the market’s progress to some
extent in the years to come.
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Market Research (TMR) is a next-generation provider of syndicated
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global and regional market intelligence coverage includes industries
such as pharmaceutical, chemicals and materials, technology and
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with statistical forecasts, competitive landscape, detailed
segmentation, key trends, and strategic recommendations
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