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Infrared Sensors Market 2019: Global Industry analysis, size and share, Future Growth, Recent Trends

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Global infrared sensors market size will grow by almost USD 296 million during 2019-2023, at a CAGR of more than 11%. However, the growth momentum of the market is expected to decelerate due to a decline in the year-over-year growth. There is an increasing focus on the development of smart cities by many countries. The companies such as IBM, Microsoft, Cisco, and Schneider Electric have been supporting the development of smart cities by announcing initiatives and developing IT solutions. The smart city requires extensive machine type communication applications such as smart metering, property monitoring, logistics management, and smart parking, which use infrared sensors.This infrared sensors market analysis indicates growth will be driven by the development of smart cities and will also be impacted by the adoption of night vision technologies in smart doorbells

Adoption of night vision technologies in smart doorbells

Many smart doorbell manufacturers have been integrating night vision technologies in their products. These smart doorbells are also being integrated with motion sensor technology to notify the homeowner in case of any intrusion. The customers will need to spend more to acquire the latest and best designs in smart doorbells as they offer several new features. The features such as night vision technologies in smart doorbells will drive the need to integrate infrared sensors in these devices.

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“More than 45% of the market’s growth will come from the APAC region. Several companies have set up their production centers in this region because of the abundant availability of raw materials and low establishment and labor costs. The increasing demand for several consumer electronic devices is expected to drive the demand for infrared sensors that will be integrated into these devices,” says an analyst at Technavio.

The infrared sensors are used in LIDAR systems in autonomous cars as these systems can locate the area and position of people and objects around vehicles and assess the speed of an object or people while in motion. The adoption of LIDAR systems will increase with a rise in autonomous cars, which will drive the need for infrared sensors. Several investments have been made in the development of self-driving cars. For instance, in August 2018, Toyota announced an investment of USD 500 million in Uber for self-driving car program as the two companies expand their partnership on the development of self-driving cars.

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This infrared sensors industry research report provides an in-depth analysis of the major drivers, upcoming trends, and challenges that will impact market growth over the forecast period. The report analyzes the competitive landscape and offers details on several infrared sensors products manufacturers including –

Excelitas Technologies
FLIR Systems
Hamamatsu Photonics
Murata Manufacturing
Sofradir
Some of the key topics covered in the report include:

Market Landscape

Market ecosystem
Market characteristics
Market segmentation analysis
Market Sizing

Market definition
Market size and forecast
Five Forces Analysis

Market Segmentation

Geographical Segmentation

Regional comparison
Key leading countries
Market Drivers

Market Challenges

Market Trends

Vendor Landscape

Vendors covered
Vendor classification
Market positioning of vendors
Competitive scenario

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