Infrared Imaging Market worth USD 8.4 Billion by 2027
Published | 13 January 2021
According to BlueWeave Consulting, the global infrared imaging market is estimated to have reached
USD 5.3 billion in 2020 and is further projected to reach USD 8.4 billion by
2027, growing at a CAGR of 6.8% during 2021-2027 (forecast period). The factors
which are driving the growth of the infrared imaging market are the increasing
deployment of Infrared imaging in the booming smartphones and smart camera
market, increase in contactless payments, improved user experience, and
reduction in size and cost of semiconductor chips. Infrared imaging technology
is anticipated to be used in a host of applications in the future due to the
increasing demand for online and in-store payments in a retail store, increasing
demand for connectivity between devices for information and data sharing.
Growing advancements in
small-molecule near-IR probe domain for bioimaging
Growing advancements in
the small-molecule near-IR probe domain for bioimaging is expected to enhance
its usage in bioimaging. The advent of new contrast agents has amplified the
potential of NIR bioimaging for real-time vascular visualization and deep
tissue diagnostics for ongoing surgical assistance. The development of new NIR
contrast agents has aided the bioimaging of numerous targets with advantages,
such as low cytotoxicity, structural tunability, and good cell permeability.
Near-infrared imaging has a wide range of applications including physiological
diagnostics and the study of pulse oximetry, blood sugar, sports medicine,
urology, and neurology. Functional near-infrared spectroscopy is integrated
with optical imaging technology and is increasingly used in the neuroimaging
domain.
Advantages provided by
the NIR technique
Advantages provided by
the NIR technique including minimal invasiveness and deep tissue imaging using
the non-non-ionizing method are expected to strengthen its applications in
operating rooms as well as emergency departments. NIR integrated with
nanoparticle (NP) based NIR contrast agent resists rapid photo-bleaching and is
stable to the organic counterparts. Early detection of Alzheimer’s disease with
the help of non-invasive near-infrared spectroscopy is expected to have a
significant impact on the usage of the NIR technique in neurology. These
advantages are expected to broaden the applications of near-infrared imaging
with nanoparticles.
Long-wave infrared (LWIR)
camera segment occupies the major share of the global infrared imaging market
Based on the wavelength,
the infrared imaging market is segmented into the near-infrared, shortwave
infrared, mid-wave infrared & long-wave infrared. Amidst this category, the
long-wave infrared (LWIR) camera segment will witness high growth due to its
ability to operate efficiently in harsh environments such as smoke or aerosol.
These cameras are much efficient in detecting objects, which span a very wide
temperature range requiring intra-scene imaging of both hot & cold objects.
The cameras are widely adopted for long-range surveillance due to their
long-range FOV. Furthermore, LWIR-enabled technology cameras are used for
military & firefighting applications.
Global Infrared Imaging
Market: Regional insights
North America has
dominated the infrared imaging market in 2019 and is expected to lead the
market in the future as well owing to the high disposable income of consumers,
speedy adoption of technologically advanced medical devices, and diagnostic
techniques. The rise in numbers of cosmetic and reconstructive surgeries in the
region due to growing awareness and increased spending power, and the growing
geriatric population prone to a various lifestyle associated chronic conditions
are few other drivers of the near-infrared imaging market.
The
leading players” in the global infrared imaging
market include Flir Systems, Fluke, Sensors Unlimited, Leonardo Drs, Axis
Communications, Xenics, Opgal Optronic Industries, New Imaging Technologies,
Allied Vision Technologies, Lynred, Cox, C-Thermal, Ircameras, Princeton
Infrared Technologies, Dali Technology, Tonbo Imaging, L3harris Technologies,
Raptor Photonics, Episenors& Princeton Instruments. These players are
focusing on growth strategies, such as new product launches, expansion,
collaborations, partnerships, and acquisitions. The market players are making a
huge investment in supplier companies to enhance their product ability.
The in-depth analysis of
the report provides information about growth potential, upcoming trends, and
statistics of global infrared imaging market size & forecast. The report
promises to provide recent technology trends in the infrared imaging market and
industry insights that help decision-makers to make sound strategic decisions.
Furthermore, the report also analyzes the growth drivers, challenges, and
competitive dynamics of the market.
About Us
Blue Weave Consulting
provides all kinds of Market Intelligence (MI) Solutions to businesses
regarding various products and services online & offline. We offer
comprehensive market research reports by analyzing both qualitative and
quantitative data to boost up the performance of your business solution. BWC
has built its reputation from the scratches by delivering quality inputs and
nourishing long-lasting relationships with its clients. We are one of the
promising digital MI solutions company providing agile assistance to make your
business endeavors successful.
Get Help
Relevant Press Releases
- Phytosterols Market was prized at USD 679.7 million in 2019, and it is predictable to reach USD 1106.5 million by 2027, at a CAGR of 7.5 %, over the forecast period.
- Rising Health Awareness and Increasing Consumer Demands for Clean Label Food Products Boosting Sales of Food Colors Market
- Product Information Management (PIM) Market is Projected to Reach USD 17.9 Billion by 2027
- Rising demand of safety and maintaining technical configuration in electronics and electrical components boost the Sealing Glass Market
- Significant Growth Anticipated for Global Healthcare IT Market: Expected to exhibit a CAGR of 10.7 %over the forecast timeframe.