Infrared Camera Market size likely to exceed revenue of USD 6.82 billion by 2023

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IR camera market size expected to reach USD 6.82
billion by 2023, with more than 9 CAGR
expectations from 2016 to 2023 Global Market
Insights Inc.
Fuel Cell Market size worth 25.5bn by 2024
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Key Insights from IR camera Market

• The zinc selenide segment was valued at over USD
  495 million in 2015, and is expected to surpass
  USD 1.1 billion by 2023. This can be primarily
  attributed to rising adoption of ZnSe lenses in
  medical imaging applications.
• Germanium accounted for more than 35 of the IR
  camera market share in 2015. This material is
  non-hygroscopic and also exhibits good mechanical
  properties.
• Commercial sector is expected to grow at 10.4
  CAGR from 2016 to 2023 owing to growing infrared
  camera adoption across various applications
  including transportation systems and security
  surveillance.
• Medical imaging applications will reach over USD
  550 million in sales estimations by 2023 key use
  cases include identification of the site of
  tissue damage in case of injuries.

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Continued...

• Europe IR camera industry was worth just over USD
  900 million in 2015. Video surveillance cabling
  and infrastructure industry is expected to drive
  growth in the U.S.
• Asia Pacific IR camera market share is forecast
  to reach over 26 by 2023. Increased defense
  spending, chiefly in Japan, South Korea and
  India, is expected to favorably impact regional
  demand over the forecast period.
• Key players include FLIR Systems, Axis
  Communications AB, and Samsung Techwin. Industry
  participants focus on strengthening their product
  portfolio. For instance, FLIR Systems introduced
  smartphones with thermal imaging ability in order
  to expand its product offering.

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Europe (Infrared) IR camera market size, by
application, 2012 - 2023 (USD Million)

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360 Analysis

• Application Analysis
• Military and defense applications will continue
  occupying over 35 of the IR camera market share
  through the forecast timeframe. Challenging
  requirements for temperature tolerance,
  ruggedness, and reliability make these products
  critical across the defense domain. Commercial
  and medical are poised to exhibit high growth in
  the coming years, with the former predicted to
  grow at 10.4 CAGR from 2016 to 2023.
• Regional Analysis
• Asia Pacific IR camera market size is set to
  surpass USD 1.75 billion by 2023, at 10.3 CAGR
  over the coming seven years. Japan, India, and
  South Korea are responsible for the growth
  forecast, primarily due to high demand in the
  defense sector in these countries.
• U.S. IR camera market share is likely to benefit
  from presence of major players as well as
  technological advancements. The devices are used
  as effective mass-screening for detecting
  individuals. They present a non-invasive,
  non-contact, quantifiable and accurate technique
  using thermal imaging.
• Competitive Market Share
• FLIR Systems, Samsung, Axis Communications, DRS,
  Fluke, and Seek Thermal were among the notable
  companies identified by this global IR camera
  market research report.

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