IR Camera Market – Growth, Trends And Forecast (2020 – 2024)
An infrared camera is a non-contact device that detects infrared energy (heat) and converts it into an electronic signal, which is then processed to produce a thermalimage on a video monitor and perform temperature calculations.
The IR camera market was valued at USD 5.63 billion in 2018, and it is expected to reach a value of USD 9.15 billion by 2024, at a CAGR of 8.3% over the forecast period (2019-2024).
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Top Companies in the Global IR Camera Market:
Flir Systems Inc., SPI Corporation, Opgal Optronics Industries Ltd., Raytheon Company, Seek Thermal Inc., Fluke Corporation, Testo AG, HGH Infrared Systems, Teledyne Dalsa Inc., DRS Technologies Inc., Optris Infrared Sensing, LLC, Xenics NV among others.
With increasing demand for advance driver assistance systems (ADAS) in future and investments in autonomous cars, IR cameras are expected to witness a significant adoption in vehicles.
The demand for surveillance has increased across various applications, such as military and defense, energy, and commercial spaces (such as banks) etc. With energy usage becoming a crucial part of the global strategy to manage natural resources, solar energy is gaining prominence. As solar power is becoming increasingly popular and solar panels are a costly and vulnerable commodity, good security is a must.
IR imaging has shown to be a better tool for the quantitative measurement of temperature than single spot infrared thermometers. However, these cameras can encounter errors in acquiring accurate temperature measurements in the presence of other environmental heat sources.
Asia-Pacific offers potential growth opportunities due to the rise in technology penetration, high defense spending, and presence of a large number of small and medium enterprises (SMEs).
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Key Market Trends:
LWIR and MWIR is Expected to have Significant Growth
LWIR and MWIR are the most used wavelengths of IR camera for security and surveillance applications. However, there are certain applications where LWIR is more efficient than MWIR, including objects of detection that span a very wide temperature range requiring intra-scene imaging of both hot and cold objects.
In harsh environments, where MWIR may not perform well in imaging through smoke or aerosols, LWIR is usually the chosen technology. These mainly include the firefighting and military applications.
Also, for most of the surveillance situations (man or vehicle to be detected within ambient temperature background), there is more flux (thermal energy emitted by the targets and by the environmental background), which is not efficiently contained by the MWIR due to the lack of band availability. Such applications have also witnessed the increased adoption of LWIR.
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Influence Of The IR Camera Market Report:
-Comprehensive assessment of all opportunities and risk in the IR Camera market.
-IR Camera market recent innovations and major events.
-Detailed study of business strategies for growth of the IR Camera market-leading players.
-Conclusive study about the growth plot of IR Camera market for forthcoming years.
-In-depth understanding of IR Camera market-particular drivers, constraints and major micro markets.
-Favourable impression inside vital market latest trends striking the IR Camera market.
Finally, IR Camera Market report is the believable source for gaining the market research that will exponentially accelerate your business. The report gives the principle locale, economic situations with the item value, benefit, limit, generation, supply, request and market development rate and figure and so on. IR Camera industry report additionally Present new task SWOT examination, speculation attainability investigation, and venture return investigation.
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