According to Absolute Markets Insights report, products accounted for the highest market share in 2021 in the cooled IR camera market. The growth of the products segment can be attributed to the demand for IR cameras products in industrial, security & surveillance, monitoring, medical, and inspection applications. In the last few years, the use of cooled IR camera is increasing at rapid pace in oil and gas industry for the detection of leak spots in pipelines and tanks, thereby minimizing emissions and improving safety. On the other hand, emergence of new cooled IR camera products is projected to create growth opportunities for this segment. For instance, in September 2019, Leonardo launched SLX-SuperHawk thermal imaging camera with long-life cooler. This camera is designed to last about four times as compared with competitors in the market without servicing. However, the services segment expected to witness highest growth rate during the forecast period. The implementation of services ensures effective functioning of cooled IR camera solutions with transparency and control throughout the process.
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By technology, Indium Gallium Arsenide (InGaAs) technology segment in the cooled IR camera market is anticipated to witness highest growth rate during the forecast period. This is mainly attributed to the new product innovations associated with the InGaAs technology in IR camera applications. For instance, in July 2019, Hamamatsu Photonics, a Japanese electronics manufacturer developed an InGaAs area image sensor for hyperspectral cameras capable of detecting short-wavelength-infrared light up to 2.55 µm.
By end use, automotive & transportation segment is projected to witness highest growth rate during the forecast period. Ongoing trend of advanced driver assistance systems (ADAS) along with the upsurge in investments in autonomous cars is projected to fuel the growth of this segment in the cooled IR camera market. In addition, thermal imaging applications such as automatic incident detection (AID) in tunnels; pedestrian crossing management; bicycle detection; and stop-bar detection drives growth of this segment.
By distribution channel, indirect segment is expected to witness highest growth rate during the forecast period (2022 – 2030) in the cooled IR camera market. An indirect distribution channel includes the movement of cooled IR camera products from the manufacturer through various intermediaries for delivery to the consumer. The benefits associated with indirect sales is cost-efficiency, increased speed to market, and reduced complexity in management of distribution logistics.
By region, Asia-Pacific cooled IR camera market is expected to witness highest growth in terms of CAGR during the forecast period owing to increased demand for cooled IR cameras in growing economies such as India and China. For instance, in China, IR cameras have witnessed significant uptake in past years across all areas of applications, such as security, industrial, and surveillance, to detect suspicious activities. In addition, the country is one of the pioneer in implementation of IR cameras to detect the symptoms of COVID-19 at various railway stations and airports.
Key Benefits of Procuring the Global Cooled IR Camera Market:
- Global Market size and forecast values (2015 – 2030), in terms of revenue (US$ Million) by segments/sub-segments; wherein 2015 to 2020 has been considered as historic years, 2021 as the base year, while 2022 to 2030 has been considered as the forecast period.
- Split of the market revenue (US$ Million) into all the relevant segments & sub-segments across all major regions/countries.
- Global and Regional Impact of Covid-19 on Global Cooled IR Camera Market
- Technological Trends
- Macro-Economic and Micro-Economic Indicators
- Market determinants and Influencing Factors
- Market Dynamics (Drivers, Restraints, Opportunities and Challenges)
- Porter’s Five Forces Analysis
- Competitive Benchmarking: (Global Presence and Growth Strategies (Mergers and Acquisitions, R&D Initiatives, Product Launches, Investments Trends))
- Market Share Analysis, 2021
- Detailed insights of major market participants operating in the market, including information on company details, company overview, product offerings, key developments, financial analysis, SWOT analysis and business strategies.
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- We offer the feasibility of customizing the reports specific to regions which will cover exclusive insights on regions and its respective countries (namely North America, Europe, Asia Pacific, Middle East & Africa, Latin America)
Competitor Insights:
Market participants in the industry are focused on collaborations and partnerships with other market players to improve their product line. For instance, in May 2020, Jenoptik, a German integrated photonics group and InfraTec, the specialist for thermographic measurement technologies and infrared sensors announced the partnership in the field of non-contact temperature measurement. This partnership covers supply of hand-held and stationary high-end infrared cameras and infrared lenses. Such factors are boosting the demand for the cooled IR camera market. The key companies profiled in the cooled IR camera market are mentioned below:
- AIM Infrarot-Module GmbH
- Boston Electronics Corporation
- CANTRONIC SYSTEMS (CANADA) INC.
- Global Sensor Technology Co., ltd.
- Hamamatsu Photonics K.K.
- InfraTec GmbH
- IRCameras LLC.
- L3Harris Technologies, Inc.
- Leonardo DRS
- Lynred USA
- SemiConductor Devices
- TBT SYSTEMS
- Teledyne FLIR LLC
- Xenics nv
- Other Market Participants
Global Cooled IR Camera Market:
By Offering
- Products
- Services
- Design & Development Services
- System Integration and Training Services
- Others
By Technology
- Indium Antimonide (InSb)
- Indium Gallium Arsenide (InGaAs)
- Mercury Cadmium Telluride (MCT)
- Others
By End Use
- Defense & Military
- Industrial (Process Monitoring, Machine Vision, Etc.)
- Commercial Surveillance
- Automotive & Transportation
- Healthcare & Pharmaceutical
- Dental Infrared Imaging
- Pharmaceutical Infrared Imaging
- Others
- Others
By Distribution Channel
- Direct
- Indirect
By Region
- North America (U.S., Canada, Mexico, Rest of North America)
- Europe (France, The UK, Spain, Germany, Italy, Nordic Countries, Benelux Union, Rest of Europe)
- Asia Pacific (China, Japan, India, New Zealand, Australia, South Korea, Southeast Asia, Rest of Asia Pacific)
- Middle East and Africa (Saudi Arabia, UAE, Egypt, Kuwait, South Africa, Rest of Middle East & Africa)
- Latin America (Brazil, Argentina, Rest of Latin America)
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