Infrared Sensors Market to Generate US$ 1.1 billion by 2033 Due to Increasing Demand for Environmental Monitoring System | Future Market Insights, Inc.

Future Market Insights, an ESOMAR-certified market research firm, has recently published a market report titled "Infrared Sensors Market Analysis by Pyroelectric and Thermopile, 2023 to 2033." This report explores in detail the pivotal role of infrared sensors in enhancing night visibility for self-driving cars, shedding light on the future of automotive safety and automation.

NEWARK, Del., Sept. 19, 2023 /PRNewswire/ -- The global infrared sensors market size reached US$ 582.8 million in 2022. Revenue generated by infrared sensors sales is likely to reach US$ 623.6 million in 2023. Through 2033, demand is poised to soar at 6.1% CAGR. Sales are anticipated to transcend to US$ 1.1 billion by 2033.

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Infrared Sensors Market Application:

Environmental monitoring applications like forest fire detection and pollution control rely on thermal imaging. This creates a niche demand for infrared sensors as governments and organizations invest in environmental protection.

Infrared sensors are essential for detecting various gases and particulate matter in the air. They play a crucial role in air quality monitoring systems, helping to measure pollutants such as CO2, CO, and NO2. Industries are increasingly adopting environmental monitoring to comply with stringent regulations. Infrared sensors monitor volatile organic compounds (VOCs) emissions, sulfur dioxide (SO2), and other pollutants. It will likely help several industries reduce their environmental footprint.

Infrared sensors are employed in wildfire detection systems to spot the heat signatures of fires in their early stages. The demand for such sensors is rising with wildfires' increasing frequency and severity.

In agriculture, infrared sensors are used for crop health monitoring, irrigation control, and pest detection. As sustainable farming practices gain importance, adopting these sensors is expected to increase.

Infrared sensors are utilized in building automation systems to optimize energy usage by monitoring occupancy and temperature. As energy efficiency becomes a priority, the demand for these sensors in smart buildings is growing. The demand for electronics such as smartphones with infrared sensors for facial recognition and augmented reality applications also contributes to market growth.

Infrared sensors are crucial for night vision cameras and security systems. These are increasingly used for environmental monitoring in public places and critical infrastructure. Infrared sensors are used in satellite-based remote sensing systems to gather environmental data on a global scale, contributing to climate studies and disaster monitoring.

Infrared sensors are integral to aircraft and military equipment for target detection and tracking tasks. As defense budgets continue to propel, so does the demand for advanced infrared sensor technology.

Infrared sensors are used in building automation systems to enhance energy efficiency by monitoring temperature variations. This is particularly relevant in sustainable building practices as new applications for thermal imaging emerge, such as in autonomous vehicles and augmented reality. The demand for infrared sensors is expected to expand further through 2033 due to a combination of the aforementioned factors.

Key Takeaways from the Infrared Sensors Market:

• The global infrared sensors market is expected to witness a CAGR of 6.1% between 2023 and 2033.
• Regarding technology, the pyroelectric division is expected to expand at a CAGR of 6.0% between 2023 and 2033.
• By end-use, the commercial segment is anticipated to exhibit 5.9% CAGR through the projected period.
• The United Kingdom is expected to be worth US$ 39.6 million by 2033.
• Japan will likely emerge as a significant country in the market, growing at a CAGR of 5.2% through 2033.

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"Rising integration towards electronic devices will likely boost demand through 2033. Key manufacturers are working on creating advanced infrared sensor technologies to gain a competitive edge. The market is expected to present heavy demand for advanced, energy-efficient, and sustainable sensor manufacturing processes," says a lead Future Market Insights (FMI) analyst.

Competitive Landscape

Key manufacturers are offering customized solutions to meet specific industry requirements and applications. They also introduce effective marketing strategies to build brand recognition and customer trust. They are emphasizing eco-friendly manufacturing processes and sustainable product designs.

Recent developments in the Infrared Sensors Market:

• RADA Electronic Industries Ltd. is a multinational defense technology business specializing in proprietary radar and old-fashioned avionics systems. It collaborates with the RADA Electronic Industry and other USA-based companies in creating, producing, and marketing items intended for the aerospace and defense sectors.
• Excelitas Technologies is a technological leader in producing high-performance, market-driven photonic solutions to address clients' lighting, optical, optronic, sensing, detection, and imaging demands worldwide.

More Insights into the Infrared Sensors Market Report

In its latest report, Future Market Insights (FMI) offers an unbiased global infrared sensors market analysis, providing historical data from 2018 to 2022 and forecast statistics for 2023 to 2033.

To understand the global market potential, growth, and scope, the market is segmented based on technology (pyroelectric, thermopile, microbolometers, InGasAs, and MCT), end use (commercial, healthcare, automotive, and others) across different regions.

About FMI – Technology

The technology division of FMI offers a distinct and pinpoint analysis of the chemicals and materials industry. This exhaustive coverage extends from commodity, bulk, specialty, and petrochemicals to advanced materials, composites, and nanotechnology in particular, with special emphasis on 'green alternatives, recycling and renewable technology developments, and supply-demand-trade assessment. Our research studies reference market guidelines for chemical manufacturers, research institutions, channel partners, and government bodies for developing – "The Way Forward."

About the Author:

Sudip Saha is the managing director and co-founder at Future Market Insights, an award-winning market research and consulting firm. Sudip is committed to shaping the market research industry with credible solutions and constantly makes a buzz in the media with his thought leadership. His vast experience in market research and project management across verticals in APAC, EMEA, and the Americas reflects his growth-oriented approach to clients. 

He is a strong believer and proponent of innovation-based solutions, emphasizing customized solutions to meet one client's requirements at a time. His foresightedness and visionary approach recently got him recognized as the "Global Icon in Business Consulting" at the ET Inspiring Leaders Awards 2022.

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About Future Market Insights (FMI) 

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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