Infrared imaging market predicted to hit $3.86 billion

Sept. 24, 2013
Global sales in the infrared imaging market are predicted to grow from $2.18 billion in 2011 to $3.86 billion in 2017 as a result of new technologies, expanding product and geographical markets, and the penetration of IR cameras into several new end-user applications.

Global sales in the infrared (IR) imaging market are predicted to grow from $2.18 billion in 2011 to $3.86 billion in 2017, at an estimated compound annual growth rate (CAGR) of 9.5%.

As a result of improved vision enhancement capabilities of uncooled IR cameras, commercial applications have grown in the past 10 years—penetrating various markets, including surveillance and security, firefighting, medical imaging, and industrial diagnostics, according to the report. Expected to be the second highest contributor of growth behind commercial applications is automotive applications, which is expected to grow at a swift rate from 2013 to 2017.

In addition to technology advancing and being used in new applications, growth is also expected to occur as a result of increased use of IR technology in China and the Asia-Pacific (APAC) region. Automotive applications, oil and gas applications, and commercial applications are also expected to help grow the market in the APAC region.

The MarketsandMarkets report provides a view of the complete infrared imaging market with regards to the application of IR cameras with detailed market segmentations, combined with qualitative analysis of types of IR cameras, applications, and geography. In addition, it profiles more than 20 key IR camera manufacturers along with important IR camera component manufacturers.

The report identifies the following companies as key players in the global IR imaging market:

Read more or purchase the infrared imaging market analysis from MarketsandMarkets.

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About the Author

James Carroll

Former VSD Editor James Carroll joined the team 2013.  Carroll covered machine vision and imaging from numerous angles, including application stories, industry news, market updates, and new products. In addition to writing and editing articles, Carroll managed the Innovators Awards program and webcasts.

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