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Global IR Imaging Market: Forecast, Trend & Analysis 2012-2017

Global IR imaging market to grow at a CAGR of 9.5% between 2012 and 2017


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2014-03-13 09:11:01 - Global IR Imaging Market: Forecast, Trend & Analysis 2012-2017 - a new market research report on companiesandmarkets.com

Global IR imaging market is expected to witness good growth as it is being accepted across the geographies for various applications. In 2011, the market for North America emerged as the biggest one with respect to IR camera and is expected to stay on the top during the forecasted period. However, our research says that two main IR camera end-user applications in North America; namely commercial and military and defense are relatively mature industries; thus the growth is expected to remain on a lower side.IR cameras have not yet penetrated in geographical regions other than North America, thereby leaving a lot of scope for commercial application to grow. Continuously flourishing economy of China is expected to be the reason for

 

 

this high growth as it is the second largest economy in the world after the U.S. Apart from automotive applications, oil and gas and commercial applications are also expected to contribute significantly to the total IR imaging market in the APAC.The overall IR imaging market is divided into two major sub-markets, namely - thermography and vision enhancement applications. FLIR Systems (U.S.) is the only one player operating in both the above-mentioned markets and holds the top rank. It holds nearly 65% of the total market share of IR imaging market and is expected to maintain its dominance throughout the forecasted period. There is a trend of vertical integration in IR imaging market and nearly all the top players follow the same trend. Companies such as FLIR Systems (U.S.), Axis Communications AB (Sweden), and Samsung Techwin (South Korea) are few of the key players in the global IR Imaging market with regards to commercial vision application; whereas FLIR Systems (U.S.) and Fluke Corporation (U.S.) are the prominent players in global IR Imaging market for thermography application.The value of the IR imaging market reached $2,183 million in 2011 and is expected to reach $3861 million in 2017, at an estimated CAGR of 9.5% from 2012 to 2017. In terms of volume, the total number of IR imaging camera shipped was 318 thousand in 2011 and expected to reach 1410 thousand by 2017, at an estimated CAGR of 28.6% from 2011 to 2017.For the IR imaging market; development of high speed infrared cameras, rapidly decreasing cost, and continuous development in uncooled microbolometer are acting as drivers. Lack of penetration in geographical regions other than North America and availability of competing technology are acting as restraints. Applications of uncooled IR camera for Remote Sensing and Hyperspectral Imaging will provide opportunities for IR imaging market. Besides, this research reveals that manufacturers whose IR camera meets all the essential criteria required by automotive and security application will lead the market.

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