Infrared detector sales are projected to increase at a CAGR of 7.7% during 2021 - 2031: Fact.MR Study

The global infrared detector market is valued at around US$ 463 Mn at present. Sales of infrared detector sensors are slated to accelerate at a high CAGR of 7.7% to top US$ 968 Mn by 2031.

Demand for long wave infrared detectors is likely to increase at an even higher CAGR of 8% over the assessment period of 2021 to 2031. The global sensorsmarket was valued at US$ 180 Bn in 2020, with infrared detector sales accounting for just around 0.23%; however, this share is expected to increase over the decade.

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The market study done by Fact.MR gives exclusive information about how the market will grow. The study identifies crucial trends that are determining the growth of Infrared Detector market. This newly published report sheds light on vital dynamics, such as the drivers, restraints, and opportunities for key market players as well as emerging players associated with the production and supply. The latest report by Fact.MR provides detailed Market Analysis of Infrared Detector

This newly published and insightful report sheds light on Market Insights of Infrared Detector, key dynamics, their impact on the overall value chain from suppliers to end-users and Growth of Infrared Detector Market.

Key Market Segments Covered in Infrared Detector Industry Research
By Spectral Range
• Short Wave Infrared Detectors
• Mid-Wave Infrared Detectors
• Long Wave Infrared Detectors

By Technology
• Mercury Cadmium Telluride
• Indium Gallium Arsenide
• Pyroelectric
• Thermopile
• Micro Bolometers
• Others

By Application
• Infrared Detectors for Automotive
• Infrared Detectors for Consumer Electronics
• Infrared Detectors for Medical
• Infrared Detectors for Military
• Infrared Detectors for Security

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Key Takeaways from Market Study
• Military application is likely to witness sales of US$ 150 Mn by 2031.
• Based on spectral range, mid-wave infrared detectors and long wave infrared detectors are anticipated to be the most lucrative segments with market share of 23.4% and 61.5%, respectively, by 2031.
• Based on region, demand for infrared detectors is expected to increase at CAGR of 3.9% and 6.6% in Latin America and North America, respectively, over the forecast period.
• Together, North America and Europe represent over 48% of overall market share.
The market in Latin America is valued at US$ 26 Mn at present.

"Increasing adoption of burglar systems, security cameras, etc., in smart buildings, to accelerate unit sales of infrared detectors," says a Fact.MR analyst.

Competitive Landscape
According to the infrared detector industry analysis, IR detector manufacturers and suppliers have focused on expansion, investments, acquisitions, delivery, portfolio expansion, and brand development.

Some of the key developments are:

• In 2021, Lynred launched new miniature type of infrared detector named Galatea MW, having the features of SWAP (Size, Weight, and Power). This newly launched product is compatible with existing optics and easy to integrate in military applications.
Similarly, recent developments by top providers of infrared detectors have been tracked by the team at Fact.MR, which are available in the detailed report.

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What Makes the U.S. a Leading Market for Infrared Detectors?
The U.S. market is likely to witness remarkable growth at 6.6% CAGR through 2031. Some of the major applications that are expected propel the U.S. infrared detector market are industrial, military, and defense, and commercial.

The U.S. is observing growing demand for short wave infrared detectors, particularly in short wave infrared cameras for scientific research, leading to increasing market share of 85% by 2031 in the North American market.

What is the Growth Outlook for the Market for Infrared Detectors in China?
China is expected to dominate the global market for IR detectors in terms of volume export due to high volume production and low pricing. Rise in world terrorism is the biggest driver for countries to adopt infrared detectors.

The market in China for IR detectors is likely to enjoy a valuation of around US$ 165 Mn by the end of 2031. Infrared sensor motion detectors have great potential in the future, which will drive global business growth.

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More Valuable Insights on Infrared Detector Market

Fact.MR, in its new report, offers an unbiased Market Analysis of Infrared Detector, Sales and Demand of Infrared Detector, analyzing forecast statistics through 2019 and beyond. The study reveals growth projections on the basis of various criteria.

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