Infrared Sensor Market Size, Share, Industry Trends and Forecast to 2030

What is the Market Size & CAGR of Infrared Sensor market in 2021?

The global market size of the infrared sensor market in 2021 was estimated to be USD 3.6 billion. The compound annual growth rate (CAGR) of the market during the forecast period from 2021 to 2026 is projected to be around 8.5%. The infrared sensor market is witnessing significant growth due to the increasing demand for these sensors in various industries such as automotive, consumer electronics, healthcare, and aerospace.

COVID-19 Impact on the Infrared Sensor Market

The COVID-19 pandemic has had a mixed impact on the global infrared sensor market. On one hand, the market faced disruptions in the supply chain due to lockdowns and restrictions imposed by governments around the world. This led to a temporary slowdown in the production and distribution of infrared sensors.

On the other hand, the pandemic also created new opportunities for the infrared sensor market. The demand for non-contact temperature measurement devices, which use infrared sensors, surged during the pandemic as businesses and healthcare facilities sought ways to screen individuals for elevated temperatures.

Infrared Sensor Dynamics

The dynamics of the infrared sensor market are influenced by various factors such as technological advancements, increasing applications in different industries, and growing awareness about the benefits of these sensors. Infrared sensors are being increasingly used in smart homes, automotive safety systems, and industrial automation, driving the market growth.

Segments and Related Analysis

The infrared sensor market can be segmented based on type, wavelength, technology, and application. By type, the market is categorized into thermal infrared sensors and quantum infrared sensors. Based on wavelength, the market is segmented into short-wave, mid-wave, and long-wave infrared sensors. The technology segment includes passive infrared sensors, active infrared sensors, and others.

By Region Analysis

In terms of region, North America held the largest market share in the global infrared sensor market in 2021. The region's dominance can be attributed to the presence of key players, technological advancements, and high adoption of infrared sensors in various industries. Asia-Pacific is expected to witness significant growth during the forecast period due to rapid industrialization and increasing investments in smart technologies.

Key Market Players and Competitive Landscape

Some of the key players in the global infrared sensor market include Excelitas Technologies Corp., FLIR Systems, Inc., Hamamatsu Photonics K.K., InfraTec GmbH, and OMRON Corporation. These companies are focusing on product innovation, strategic partnerships, and mergers and acquisitions to strengthen their market position and gain a competitive edge.

Recent Happenings in the Infrared Sensor Market

1. In January 2022, FLIR Systems, Inc., a leading manufacturer of infrared sensors, launched a new line of high-performance thermal cameras for industrial applications.

2. In March 2022, Excelitas Technologies Corp. announced the acquisition of a semiconductor company specializing in infrared sensor technology, expanding its product portfolio.

3. In April 2022, Hamamatsu Photonics K.K. introduced a new series of infrared sensors with improved sensitivity and accuracy for automotive safety applications.

These recent developments indicate a growing focus on innovation and technological advancement in the infrared sensor market, driven by the increasing demand for these sensors across various industries.