ALBANY, New York, Nov. 14, 2017 (GLOBE NEWSWIRE) — A fresh business and commerce study by Transparency Market Research (TMR) has detected that there are quite a few players eating into the total shares in the global infrared detectors market. That being said, a few players such as Murata, Hamamatsu, FLIR, and Excelitas do hold a position of strength in the moderately fragmented competitive landscape of the global infrared detectors market and are expected focus on technological advancements in order to gain further ground. The same region of high technical competency and requirement of substantial initial investment are obstructing the arrival of new players in this market, which may have helped the market from growing at a quicker pace. The report also identifies Raytheon, General dynamics, DRS Technologies, L-3 communications, OMRON, Nippon Avionics, Sofradir, Texas Instruments, TestoAG, and Vigo systems S.A. as some of the other promising players who may make a mark in the market in the near future.
Demand for IR Detectors to Expand at CAGR 8.9% during 2017-2022
As per the projections of the report, the demand in the global infrared detectors market will increment at a notable CAGR of 8.9% during the forecast period of 2017 to 2022. The report has been developed by a group of professional research analysts and aspires to serve as a credible business tool for its targeted audiences such as infrared detector designers, manufacturers, and suppliers, technology providers, original equipment manufacturers (OEMs), government bodies such as regulating authorities and policy makers, IR detector associations and organizations, and companies venturing in this market.
Product-wise, the TMR report segments the global infrared detectors market into photoconductive detectors, bolometers, pyroelectric detectors, photovoltaic detectors, thermopiles, and others. Among these, the bolometer segment accounted for 33% of the total revenue in 2017 and is expected to cross a valuation of US$200 mn by the end of 2022, which would be an above average growth rate. Based on EUV type, the market gains significantly greater demand for cooled infrared detectors than uncooled ones, projecting the demand to increment at a CAGR of 8.2% during the said forecast period and reach a valuation of US$500 mn. Presently, cooled infrared detectors pose 67% of the total demand share.
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Geographically, the report picks out the region of Asia Pacific except Japan (APEJ) as the most lucrative region. The APEJ infrared detectors market is expected to expand at a CAGR of 9% during the forecast period of 2017 to 2022, gaining traction from the presence of a number of major IR sensor vendors. Increment budget for military in emerging economies such as India, China, Japan, and South Korea will also reflect positively on the APEJ infrared detectors market.
Advent of Uncooled IR Technology a Boon for Market
Growing awareness for infrared detectors for manufacturing and industrial applications, wide acceptance of IR detectors in various end use, and advent of uncooled infrared technology are some of the key factors driving the demand in the global infrared detectors market. Medium wavelength infrared detectors (MWIR) and Medium wavelength infrared detectors (LWIR) are applicable in IR thermography and passive vision enhancement for civil and military purposes. The market is currently witnessing the emergence of IR sensors in home automation for securing doors and lighting, windows, and electrical appliances. On the other hand, conditions such as high humidity, dusty and harsh fields, and changes in temperature, need for data accuracy rate that decreases as per object distance, and availability of substitutes for infrared gas detectors are a few obstructions mitigating the prosperity of the global infrared detectors market. Nevertheless, the vendors operating in this market are expected to gain new opportunities from increasing score of infrared detectors for consumer electronic applications and growing demand for uncooled IR detectors in remote sensing and hyper spectral imaging.
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