Infrared Cameras Market to Grow at a CAGR of 7.1% to reach US$ 9,055.58 Million from 2020 to 2027

The infrared cameras 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.

Several industries such as aerospace and defense, automotive, healthcare, and others are investing heavily in advanced technologies to strengthen their capabilities with advanced machinery and offer enhanced services to customers. The companies based in countries such as Russia, the US, and France are developing advanced infrared cameras for the global market. Rising procurement of infrared cameras by the US Army is propelling its infrared cameras market growth. Developing nations such as India, China, and Indonesia are strengthening their military capabilities due to rising border clashes with neighboring countries. Furthermore, the adoption of infrared cameras has increased in the automotive sector due to the ongoing COVID-19 pandemic. For instance, in March 2020, the Chinese government planned to install temperature monitoring infrared cameras on the public transport.

Furthermore, the rising defense expenditure of countries such as the US, China, and India is expected to drive the growth of the market. Additionally, the increasing number of product launches by companies such as FLIR Systems, Inc. is expected to drive the growth of the market. For instance, in April 2020, FLIR Systems, Inc. launched FLIR Ranger HDC MR high-definition medium-wave infrared (MWIR) border-security surveillance system. The system assists in countering illegal drug smuggling, unmanned aerial vehicles (UAVs), and human trafficking. Therefore, these factors are expected to drive the growth of the market.

Impact of COVID-19 Pandemic on Infrared Cameras Market

The US is the worst-affected country by COVID-19 in North America. The continuous growth of infected individuals has led the government to impose lockdown across the nation borders during Q2. The majority of the manufacturing facilities were either temporarily shut or are operating with minimum staff, and the supply chain of components and parts is disrupted

As the US has a huge number of infrared cameras, component manufacturers, and industries, the outbreak has severely affected the production and revenue generation. The lower number of manufacturing staff has resulted in lesser production quantity. Moreover, the limited availability of raw materials and aerospace closing have also impacted the growth of the infrared cameras market in the US. However, rising defense expenditure of the US and increasing procurement of infrared cameras by the US Army are expected to provide growth opportunities to the market in the coming years. According to Stockholm International Peace Research Institute (SIPRI), the US defense expenditure increased by 5.3% in 2019 to reach US$ 732 billion in 2019. Therefore, such factors are expected to positively impact the growth of the market in the coming years.

Lucrative Regions for Infrared Camera Providers

Get more information on this report : Request Free Sample PDF

Infrared Cameras Market Insights

Increasing Use of IR Cameras at Borders and Airports Fuels Growth of Infrared Cameras 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.

Type-Based Market Insights

Based on type, the infrared cameras market is segmented into fixed and portable. The fixed segment dominates the market owing its use in industry and research, as well as for monitoring task that needs automatic & continuous surveillance and monitoring. The need for continuous temperature measurement is addressed by infrared cameras in industries such as ceramics, industrial processing, steel industry, heat treating, and solar plants. Assembly control and process monitoring, security technology and early fire detection, machine and plant monitoring, manufacturing, aerial photography, and perimeter protection are among the other applications where fixed infrared cameras are used.

Infrared Cameras Market, by Type – 2019 and 2027

Get more information on this report : Request Free Sample PDF

Application-Based Market Insights

Based on application, the infrared cameras market is segmented into consumer electronics, security and surveillance, aerospace & defense, and others. The security and surveillance segment continues to hold a significant share in the market owing to enhanced visibility, especially in low-light conditions offered by IR cameras.

Strategic Insights

The players operating in the infrared cameras market focus on strategies such as mergers, acquisitions, and market initiatives to maintain their positions in the market. A few developments by key players are listed below:

In 2020, Seek Thermal, introduced Seek ScanTM, a simple, low-cost thermal imaging system designed to automate body temperature screening using skin temperature as a proxy. Seek Scan is specifically designed and calibrated to deliver accurate skin temperature measurements while enabling social distancing protocols.

In 2019, Axis Communications has introduced the AXIS Q6215-LE PTZ Network Camera to meet the increasing demand for more heavy-duty PTZ cameras with built-in IR (Infrared) illumination.

By Type

• Fixed
• Portable

By Component

• IR Lens
• IR Sensor
• Processor
• Others

By Wavelength

• LWIR
• MWIR
• NIR
• NWIR

By Application

• Consumer Electronics
• Security and Surveillance
• Aerospace and Defense
• Others

By Geography

• North America

  • US
  • Canada
  • Mexico

• Europe

  • France
  • Germany
  • Italy
  • UK
  • Russia
  • Rest of Europe

• Asia Pacific (APAC)

  • China
  • India
  • South Korea
  • Japan
  • Australia
  • Rest of APAC

• Middle East & Africa (MEA)

  • South Africa
  • Saudi Arabia
  • UAE
  • Rest of MEA

• South America (SAM)

  • Brazil
  • Argentina
  • Rest of SAM

Company Profiles

• Leonardo S.p.A.
• Opgal
• Teledyne DALSA
• Seek Thermal
• LYNRED
• Thermoteknix Systems Ltd
• Axis Communications AB
• FLIR Systems, Inc.
• Fluke Corporation
• Infrared Cameras Inc.