Accentuation in Use of IR Cameras at Borders and Airports to Drive Market Growth During 2020–2027
According to our latest study on “Infrared Cameras Market Forecast to 2027 – COVID-19 Impact and Analysis – by Type (Fixed and Portable), Component (IR Lens, IR Sensor, Processor, and Others), Wavelength (LWIR, MWIR, NIR, and SWIR), and Application (Consumer Electronics, Security and Surveillance, Aerospace and Defense, and Others),” the market was valued at US$ 5,259.70 million in 2019 and is projected to reach US$ 9,055.58 million by 2027; it is expected to grow at a CAGR of 7.1% from 2020 to 2027. The report highlights key factors driving the market growth and prominent players with their developments in the market.
The governments and defense forces in the developed and developing countries are gearing up their border security forces with an objective to prevent intrusion and cross-border trespassing. The modern-day IR cameras are capable of detecting targets from a long distance, which enables the security forces to prevent any unauthorized or illegal immigration. The demand for such advanced IR cameras is continuously surging among defense forces and governments. Therefore, several infrared cameras market players are developing and introducing significant products to meet the demands. For instance, FLIR Systems, Inc., an industry-recognized IR camera manufacturer, unveiled FLIR Ranger HDC MR, a robust, high-definition medium-wave infrared (MWIR) border-security surveillance system in 2020. The camera has the capability to detect unlawful activities in adverse weather conditions, utilizing embedded computing analytics and image processing solution to minimize the cognitive workload and allow operators to differentiate between true threats and false alarms. This solution is expected to generate substantial demand among the border security forces, which would help the company increase its annual sales and facilitate the infrared cameras market to surge over the years.
The airports on the other hand are among the key users of infrared cameras. The airports face substantial challenges in securing the premises and country from intrusion, smuggling, theft, and other vandalisms. The short-wavelength infrared (SWIR) cameras have the capability to detect smuggling or theft goods, as well as suspect individuals depending on their behavior. This enables the airport securities to take necessary actions and omit the threat. In addition, during this COVID-19 pandemic, several airport authorities have begun to install thermal or infrared cameras integrated with thermal scanning technology to scan the body temperatures and other activities of the passengers. For instance, in September 2020, NEC Corporation of American and Infrared Cameras Inc. (ICI) has installed infrared cameras at various Hawaiian airports. This development has substantially increased the safety of passengers and airport workers. Thus, increasing procurement of IR cameras by the airport authorities across the world to prevent any unlawful activities and scan individuals is expected to drive the infrared cameras market over the years.
Impact of COVID–19 Pandemic on APAC Infrared Cameras Market
The tumultuous time amid COVID-19 pandemic has urged governments worldwide to impose strict restrictions on vehicles and human movement. Due to travel bans, mass lockdowns, and business shutdowns, the pandemic has affected economies and countless industries in various countries. The lockdown imposition has resulted in lesser production of commodities, goods, and services. Manufacturing, automotive, semiconductor and electronics, oil & gas, mining, aviation, and other industries have witnessed a decline in their operations due to the temporary shutdown of activities. The infrared cameras market players also experienced a slowdown in the volumes because the manufacturing facilities were operating with a limited workforce. This has had a negative impact on the market. Additionally, temporary closure has resulted in reduced procurement of infrared cameras among industries during the first quarter of 2020, and the scenario is likely to continue in the first six months of 2021.
Report : Infrared Cameras Market Forecast to 2027 - COVID-19 Impact and Global Analysis By Type (Fixed and Portable), Component (IR Lens, IR Sensor, Processor, and Others), Wavelength (LWIR, MWIR, NIR, and SWIR), and Application (Consumer Electronics, Security and Surveillance, Aerospace and Defense, and Others)
The global infrared cameras market has been segmented as follows:
Infrared Cameras Market – by Type
Infrared Cameras Market – by Component
Infrared Cameras Market – by Wavelength
Infrared Cameras Market – by Application
Infrared Cameras Market – by Geography