Infrared Sensor Market

Report Overview

Infrared Sensor Market is projected to grow at a CAGR of 10.2% in the forecast period (2024-2034), with the market size valued at USD 0.9 billion in 2023 and expected to reach USD 2.1 billion by 2034.

Product Overview

Infrared sensors are advanced devices designed to detect infrared radiation emitted by various objects. These sensors are used in multiple applications due to their ability to capture heat and convert it into electrical signals. They find applications in security systems, motion detectors, temperature measurement tools, and industrial machinery for proximity sensing and object detection. Infrared sensors offer distinct functionalities based on their variants, such as passive infrared (PIR), active infrared (AIR), and thermal infrared sensors. Thermal infrared sensors precisely measure temperature variations, AIR sensors measure distance, and PIR sensors are used to detect motion. Additionally, infrared sensors are known for their non-contact nature and precision, playing critical roles across industries, which contributes to the development of efficient, reliable, and responsive systems.

Market Highlights

Infrared Sensor Market is expected to exhibit a CAGR of 10.2% during the forecast period, 2024-2034

The Infrared Sensor Market is projected to grow at a CAGR of 10.2% during the forecast period (2024-2034), reaching USD 2.1 billion by 2034. This growth is fueled by increasing demand across industries like security systems, automotive technologies, healthcare, and consumer electronics. Technological advancements and cost-efficiency drive market expansion, with the automotive industry playing a significant role in incorporating infrared sensors into driver assistance systems and autonomous vehicles.

Source: Fatpos Global

Infrared Sensor Market Segmentation

Thermal Infrared Sensors segment will dominate due to their extensive use in the detection of infrared radiation

By Type, the Infrared Sensor Market is typically segmented into Thermal Infrared Sensors and Quantum Infrared Sensors. Thermal infrared sensors segment dominates the market due to its application to detect radiation emitted by objects. These sensors are widely used in a variety of industries, including consumer electronics, mining, oil & gas, and aerospace. They significantly improve device functionality in consumer electronics, while offer precision and reliability, which are essential in Aerospace and Defense. Additionally, the market is defined by the extensive use of thermal infrared sensors however, quantum infrared sensors have the potential to expand due to their unique offerings such as increased sensitivity and accuracy at the quantum level. Therefore, the flexibility and effectiveness of thermal infrared sensors contribute to their increasing popularity in a wide range of applications around the world.

Short-wave Infrared (SWIR) segment will expand owing to its extended wavelength capabilities

Based on Spectrum Range, the Infrared Sensor Market is divided into Short-wave Infrared (SWIR), Mid-wave Infrared (MWIR), Long-wave Infrared (LWIR), and Others. Short-wave Infrared (SWIR) leads the market, driven by their wider detection range than other infrared detectors, capturing wavelengths ranging from 0.7 to 3.0 micrometers and 1 to 3 micrometers, respectively. This extended range enables the collection of precise and detailed information about observed objects or materials. SWIR detectors have a wide range of applications in the pharmaceutical, agricultural, food and beverage, and automotive industries. They are extensively used in quality control, product inspection, and process monitoring, highlighting their critical role in improving operational efficiency and accuracy across multiple industries. Therefore, the extended wavelength capabilities of Short-wave Infrared (SWIR) make it a vital instrument for comprehensive observation and analysis in industrial processes.

Source: Fatpos Global

Market Dynamics

Growth Drivers

Technological Advancements in Infrared Sensors Market Will Drive Market Growth

Infrared Sensors market is experiencing significant expansion driven by ongoing technological advancements aimed at enhancing sensor capabilities, focusing on enhancing sensitivity, reducing production costs, and integrating advanced imaging features like multispectral and hyperspectral imaging. These developments significantly improve the performance of infrared sensors and increase their effectiveness across a range of applications. Increased sensitivity allows for precise detection of infrared radiation, while the compact size of sensors ensures easy integration into a variety of devices and systems. Additionally, achieving cost-effectiveness promotes the adoption of infrared sensors, making them more efficient, versatile, and accurate. This ongoing evolution in infrared sensor market lays foundations for continued market expansion and advancement.

Expanding Uses for Infrared Sensors Across Diverse Industries Will Promote Market Growth

Increasing utilization of infrared sensors across diverse industries significantly boosts the market expansion. Infrared sensors are essential in multiple sectors such as automotive, healthcare, aerospace, defense, and consumer electronics. They contribute to the development of driver assistance systems and autonomous vehicles in automotive technology, which enhances the safety standards. Infrared sensors are extremely useful in non-invasive diagnostics and continuous monitoring in healthcare. They collect vital physiological data without making direct contact with the patient, ensuring their comfort and enabling real-time monitoring. Additionally, infrared sensors offer precision and adaptability, encouraging their widespread adoption in security systems, temperature measurement, and industrial automation. The increasing demand in these domains, due to the unique advantages provided by infrared sensors, highlights their critical role in driving market expansion.

Restraints

Expansion Financial Barriers to Adoption Due to High Initial Investment Costs

The significant upfront costs associated with installing the system could prevent the widespread adoption of advanced infrared sensors. Infrared sensors require large investments for acquisition and system integration due to their complex technologies and specialized components. This presents a financial barrier unfavorable to small businesses and industries with limited resources. The continuous costs associated with calibration, maintenance, and the need for skilled labor further increases the upfront expenditure. Moreover, economic considerations and budget constraints could hinder adoption, especially if immediate returns are not evident, and affordable technologies are available. Therefore, the high initial investment serves as a significant limitation to the adoption of infrared sensor technologies across various sectors and industries.

Recent Developments

• In December 2022, Leonardo DRS secured a contract to supply third-generation FLIR sensors to the US Army, initiating the low-rate initial production of the FLIR Dewar Cooler Bench (DCB) long-range sensor. This procurement aims to replace the Army's current second-generation Horizontal Technology Integration (HTI) sensors.
• In December 2022, Mitsubishi Electric announced the distribution of trial units for an 80x60-pixel thermal-diode infrared sensor, proficient in measuring temperatures of up to 200°C. This sensor provides precise temperature measurements suitable for applications in kitchen and factory settings, aiming to elevate convenience and safety standards.
• In November 2022, Excelitas Technologies Corporation unveiled the TPIS 1T1386 L5.5H Thermopile Sensor, tailored for medical purposes. This product ensures exceptional high-temperature accuracy, customizable "Threshold" Functions, and the most minimal power consumption.
• On April 14, 2022, TriEye, renowned for pioneering mass-market Short-Wave Infrared (SWIR) sensing tech, revealed its collaboration with Toshiba Teli, a prominent provider of integrated automation cameras. The joint effort aims to bring to market a SWIR camera tailored for industrial processes and applications.
• On April 5, 2022, SWIR Vision Systems Inc. unveiled a significant advancement in its quantum dot-based short wavelength infrared (SWIR) sensor technology.

Infrared Sensor Market

Key Players:

• Honeywell International Inc.
• FLIR Systems, Inc.
• Texas Instruments Incorporated
• Excelitas Technologies Corp.
• Murata Manufacturing Co., Ltd.
• Omron Corporation
• Raytheon Technologies Corporation
• Teledyne Technologies Incorporated
• InfraTec GmbH
• Hamamatsu Photonics K.K.
• Melexis NV
• ams AG
• Leonardo DRS
• Sofradir Group
• ULIS
• Other Prominent Players (Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis)

Regional Analysis

Infrared Sensor Market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific and the Middle East and Africa. The Asia-Pacific region is poised to take the lead in the Infrared Sensor market, owing to increased demand for IR sensors in motion-sensing applications. These sensors play critical roles in automatic ticket gates, intruder alarms, entryway lighting, automated sinks/toilet flushers, and security lighting, allowing them to maintain their market dominance. This trend reflects the region's growing reliance on infrared sensor technology to improve convenience, safety, and efficiency across a wide range of applications, resulting in significant market growth in this sector.

The North America Infrared Sensor Market is expected to grow at the fastest compound annual growth rate (CAGR) due to rising demand across multiple industries. The expansion of the infrared sensor market in the region is driven by its increased utilization in critical areas like medical imaging, security and surveillance systems, and consumer electronics. Their incorporation into advanced medical imaging technologies, which improve diagnostic capabilities, contributes significantly to this growth trajectory.

Source: Fatpos Global

Impact of Covid-19 on Infrared Sensor Market

The COVID-19 pandemic had a profound impact on the Infrared Sensor market. Initially, disruptions in global supply chains and manufacturing processes caused slowdown in operations. However, there was an increase in demand for infrared sensors, particularly in healthcare. Thermal imaging systems increasingly used these sensors to detect and track fevers. The increased demand for contactless temperature measurement solutions in the healthcare, transportation, and manufacturing industries fueled market growth. Additionally, the pandemic highlighted the importance of infrared sensors in enhancing automation and safety protocols, encouraging their use in home automation, security systems, and touchless technologies.

Infrared Sensor Market is further segmented by region into:

• North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United States and Canada
• Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil, and Rest of Latin America
• Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey, and Rest of Europe
• Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia, and Rest of APAC
• Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa, and Rest of MENA

Infrared Sensor Market Scope and Segments:

Frequently Asked Questions (FAQ):