High scale innovation and advancements made in microbolometer technology have led to an increase in the commercialization of the IR cameras. The global IR cameras market is expected to reach USD 5.10 Billion by 2022. Decreasing prices due to technological proliferations is anticipated to drive the IR camera market over the forecast period. On account of the increased utilization in the commercial and industrial application, the technology is expected to witness substantial adoption in security & surveillance applications.
Rapid R&D and investments made by the manufacturers has enabled them to miniaturized device products, in turn, augmenting the demand for the IR cameras over the next six years. Also, a significant importance is given to cost efficient method and mass production so as to enhance adoption in a wide range of application. Declining prices of the technology is another essential factor that may catapult the industry demand. Incorporation of these cameras allows detection of objects in darkness along with viewing in long wave infrared region.
The increasing use of smartphones and high-resolution cameras are the potential factors that provide sizeable market growth opportunities. In the healthcare sector, these cameras significantly help in determining tissue damage in case of injuries along with efficient & accurate medical imaging. Airports extensively incorporate the technology during the outbreak of epidemics to screen and identify the passenger with high body temperatures. IR cameras witness large scale utilization in automobiles for enabling night vision, for instance, FLIR Systems facilitates BMW, Audi, Mercedes-Benz and Rolls Royce with cameras cores via the partnership with Autoliv Electronics.
The surge in demand for IR cameras across various market segments including automotive care, aircraft inspection, healthcare & screening, marine time vessel inspection, veterinary science and food service & distribution is expected to present vistas for market growth. Surveillance and security segment contribute significantly to the growth of the market, principally due increasing concerns for the safety of the people.
The major challenge the industry is facing is the decreasing defense budgets in developing and developed markets that may hamper the market growth. Manufacturers focus on integrating germanium that exhibits important mechanical properties along with non-hygroscopic properties which enable high-quality transmission of infrared radiations. Technological advancements have resulted in the advent of selenide zinc segment, which is expected to boom over the forecast period owing to high scale utilization in ZnSe lenses used for medical imaging purposes. Also, ZnSe is anticipated to witness high usage for optics deployed in high power CO2 laser systems principally due to its properties of high resistance and low absorption coefficient to thermal shocks. Additionally, sapphire lenses are durable, hard and possess high transmission range encompassing UV to IR range.
Emerging demand in this area is majorly due to potential utilization of night vision goggles and equipment to enhance situational awareness in countries including India, South Korea, and Japan. The industry is gaining traction due to extensive use of infrastructure cabling and video surveillance which employ this technology.
The companies generate excellent avenues due increasing adoption of technology in commercial applications including oil & gas, transportation systems, and thermography. The thermographic applications include building inspection and predictive maintenance. The commercial vision includes firefighting, maritime and automotive. Military applications comprise of portable soldier vision, thermal weapon sight, weapon stations and vehicle vision.
Notable players in the market include FLIR Systems (U.S), Axis Communications AB (Sweden), Samsung Techwin (South Korea), Seek Thermal Inc., Testo AG, Autoliv, Raytheon Company, Bullard, Samsung, BOSCH Security Systems
Axsys Technologies, NEC, Irsys, Pelco Security Cameras & Surveillance Systems, Carl Zeiss, Safran and Fluke Corp are other companies in the market. These players prominently focus on technological advancement coupled with the reduction of prices for the IR cameras to gain a competitive edge in the market.
Access news release of research report on global IR camera market: http://www.grandviewresearch.com/press-release/global-ir-infrared-camera-market
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