IR Camera Market Size To Reach $11.98 Billion By 2030

IR Camera Market Growth & Trends

The global IR camera market size is expected to reach USD 11.98 billion by 2030, registering a CAGR of 6.5% from 2024 to 2030, according to a new report by Grand View Research, Inc. IR cameras help identify the site of tissue damage in case of injuries, and are expected to witness surging demand in medical imaging applications. They have been extensively used by airports during the outbreak of epidemics to identify and screen passengers with elevated body temperatures. Microbolometer development has resulted in increased commercialization, which is also expected to be a key market driver.

High demand for IR cameras across several emerging market segments including food service and distribution, healthcare and screening, veterinary science, automotive care, maritime vessel inspections and aircraft inspection offer opportunities for market growth. Incorporating infrared cameras in smartphones at lower costs is expected to present vistas for market growth for companies operating in the market. Declining defense spending may pose a barrier to the global IR camera market over the next six years.

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IR Camera Market Report Highlights

• Germanium accounted for the largest market revenue share in 2023. Sapphire lenses are extremely hard, durable and exhibit good transmission range covering UV to IR range. These lenses are suitable for high-pressure, high power applications, and the segment is expected to witness high growth over the next six years.

• Military and defense was the largest application segment in 2023; these applications have challenging requirements for temperature tolerance, ruggedness, and reliability. Reduction in IR camera prices is expected to have a positive bearing on the penetration of technology in security, surveillance, and automotive markets as technology plays an important part in providing night-vision option in automobiles.

• North America is expected to be the key regional market over the forecast period owing to presence of major industry participants. Technological advancements along with the presence of key industry players contributed to regional market growth. Furthermore, video surveillance cabling and infrastructure market is expected to drive regional market growth. Increased use in automotive, oil & gas and other commercial applications is expected to play a pivotal role in the penetration of IR cameras in Asia Pacific.

IR Camera Market Segmentation

Grand View Research has segmented the global IR camera market based on technology, material, type, application, and region:

IR Camera Technology Outlook (Revenue, USD Billion, 2018 - 2030)

• Cooled

• Uncooled

IR Camera Material Outlook (Revenue, USD Billion, 2018 - 2030)

• Germanium

• Silicon

• Sapphire

• Others

IR Camera Type Outlook (Revenue, USD Billion, 2018 - 2030)

• Near and Short-wavelength IR

• Medium-wavelength IR

• Long-Wavelength IR

IR Camera Application Outlook (Revenue, USD Billion, 2018 - 2030)

• Military & Defense

• Automotive

• Industrial

• Commercial

• Residential

• Others

IR Camera Regional Outlook (Revenue, USD Billion, 2018 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • Germany

  • UK

  • France

• Asia Pacific

  • China

  • Japan

  • India

  • South Korea

  • Australia

• Latin America

  • Brazil

• Middle East and Africa (MEA)

  • South Arabia

  • UAE

  • South Africa

List Of Key Players IR Camera Market

• Teledyne FLIR LLC

• SPI Corp.

• OPGAL Optronic Industries Ltd.

• Raytheon Company

• Seek Thermal Inc.

• Fluke Corporation

• Leonardo DRS

• Axis Communication AB

• Xenics nv

• L3Harris Technologies Inc.