Infrared Camera Market Share Report – Increasing Adoption in Industrial And Commercial Applications Will Boost Global Industry Demand Till 2020 | Million Insights

Infrared Camera Market Share Report - Increasing Adoption in Industrial And Commercial Applications Will Boost Global Industry Demand Till 2020 | Million Insights

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According to new report available with Million Insights, the IR camera industry is estimated to grow at 9.5% CAGR over the forecast period as the scope and its applications are rising enormously across the globe.

The global Infrared camera market was $4.18 billion in 2015. It is expected to grow at CAGR of 9.5%. Declining prices due to technological development and increased demand through verticals including defense and security industries are projected to fuel the growth of infrared camera market in the forthcoming years. Moreover, increasing integration of cutting-edge thermal cameras in commercial applications and smartphones coupled with high demand for surveillance and security cameras with greater pixels per inch across the defense industry provides numerous opportunities to the Infrared camera market.

Due to rising adoption of IR cameras in industrial and commercial applications, these are used across numerous surveillance & security applications. Further, increased commercialization due to developments in the microbolometer technology is also anticipated to drive market growth in the upcoming years.

High-resolution smartphones and cameras are anticipated to provide an ample opportunity for the growth of the market. Moreover, infrared cameras play a significant role in providing a night-vision option for vehicles. For example, FLIR Systems offers camera cores for BMW, Rolls Royce, Mercedes-Benz, and Audi.

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Material Insights

Germanium lenses dominate the IR camera market share, followed by silicon and is anticipated to retain its dominance from 2016 to 2024 because they are non-hygroscopic and have advanced mechanical properties. Further, Germanium is a good emitter of the infrared, which will impact positively on the market growth of the IR camera over the forecast period.

The ZnSe (Zinc Selenide) lenses are estimated to grow at a higher rate than the global average. ZnSe lenses have greater resistance to thermal waves and low absorption coefficient. Sapphire segment is very durable, extremely hard and show a good transmission range. This section of lenses can be used in extreme weather conditions. Silicon’s low density (2.329 g/cm3) is perfect for use in the weight-sensitive applications. Silicon lens is a less brittle alternative for Germanium lens.

Application Insights

The global infrared camera market has witnessed substantial demand due to increasing adoption of it in several applications. The defense sector is anticipated to dominate the market over the upcoming years, owing to higher investments in the Asia Pacific and the Middle East regions. Infrared camera applications for infrastructure cabling and video surveillance are also anticipated to fuel market growth. Rising adoption in the commercial application sector is expected to extend fuel market growth. The medical imaging segment is estimated to witness substantial growth over the upcoming years. The medical imaging industry is supposed to see significant growth over the next years. Increasing demand in hospitals to detect life-threatening diseases like tumors or cancer urge Infrared camera market adoption. This can be accredited to the increase in the use of infrared camera across several applications including security & surveillance, thermography, and transportation systems. Rising demand in hospitals to detect
life-threatening diseases like tumors or cancer urge Infrared camera market adoption. Also, IR camera can be used in several applications like security & surveillance, thermography, and transportation systems.

Regional Insights

North America dominated the overall market share of the IR cameras in 2013. Technological developments coupled with the existence of the primary industries are anticipated to contribute to the regional market growth. Asia-Pacific countries are expected to grow at a higher pace over the next six years. Rising in defense spending, particularly in China, Japan, South Korea and India, it is expected to impact the regional market positively.

Competitive Insights

Surveillance and Security dominate the market share of the revenue of commercial applications, and a few main IR camera manufacturers such as FLIR Systems (U.S.), Samsung Techwin (South Korea), Axis Communications AB (Sweden) are progressively focusing on this market. Technological developments paired with a reduction in cost and price are anticipated to be the primary factors driving infrared camera demand. Other market players include Seek Thermal Inc., Raytheon Company and Testo AG, Fluke Corp.

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Market Segment:

IR Camera Material Outlook (Revenue, USD Million, 2012 – 2020)
        • Germanium
        • Silicon
        • Zinc Selenide
        • Sapphire

IR Camera Application Outlook (Revenue, USD Million, 2012 – 2020)
        • Military & Defense
        • Industrial
        • Commercial
        • Medical Imaging
        • Others

IR Camera Regional Outlook (Revenue, USD Million, 2012 – 2020)
        • North America
        • Europe
        • Asia Pacific
        • RoW

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