According to the latest report by IMARC Group "Infrared Imaging Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027", The global infrared imaging market size reached US$ 6.1 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 9.3 Billion by 2027, exhibiting a growth rate (CAGR) of 7.25% during 2022-2027.
Infrared imaging refers to a technology for capturing infrared energy emitted by various objects and converting them into visible images. This imaging technique, also known as thermography, is used to measure temperature differences in small and moving objects while producing clear thermal images in low-light situations. As a result, infrared imaging is widely adopted across diverse sectors including, automotive, aerospace, electronics, military and defense, and oil and gas.
Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Market Trends
The increasing adoption of infrared imaging technology in the defense and military sector for security and surveillance purposes is primarily augmenting the market growth. Furthermore, the rising deployment of IR technology in the oil and gas sector for leak detection and fire prevention is also propelling the market. Moreover, the growing investments in the development of autonomous vehicles are further driving the demand for IR technology. With the sudden outbreak of coronavirus infection, IR imaging is being rapidly adopted as a non-invasive solution for monitoring the body temperature over conventional thermometer that may lead to disease transmission. Apart from this, the emergence of high-speed cameras with advanced features for evaluating the severity of heat, coupled with the production of lightweight, receptive, and more convenient industrial IR imaging devices is further expected to drive the market for infrared imaging.
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.