Infrared Emitter And Receiver Market Overview
The current valuation of the infrared emitter and receiver market in 2022 is US$ 2.8 billion and it is projected to grow at a moderate CAGR of 3.5% within the period between 2022-2032 to achieve a valuation of US$ 3.5 billion.
Infrared Emitter and Receiver Market Valuation (2022)
US$ 2.8 Bn
Infrared Emitter and Receiver Market Valuation (2032)
US$ 3.5 Bn
Infrared emitter and receiver are the electronic hardware that operate in infrared range of light. Infrared emitter is light emitting diode that emits light in infrared spectrum and infrared receiver is the device that receives light from IR emitter and decode this IR signal.
Infrared emitter and infrared transmitter together form a complete infrared sensor used up in so many applications as in consumer electronics, unmanned vehicle to sense obstacle, in military and aerospace for monitoring and measurement systems and others.
Global infrared emitter and infrared receiver market is expected to grow with substantial CAGR during forecasting period. As it has been continuously adopted by different verticals in order to make their technologies more advanced, secure and automated.
Important factors driving the growth of the infrared emitter and receiver market are
- Rapidly rising global military and defense investment coupled with increased funding towards research and development in the defense manufacturing industry.
- Escalating tensions between governments and vulnerable security situations are further increasing investment in defense equipment.
- Infrared technology can be used to gain intel, not visible to the naked eye, through thermal imaging and night vision features. Thus, it becomes an integral component of border security maintenance. This has led to the rampant adoption of Infrared Imaging technologies, globally.
- IR technology’s potential is also being harnessed to stop inter-border criminal activities.
- Infrared sensors are a lucrative option for consumers due to their high energy efficiency, and motion-sensing capacities.
- Versatile applications of IR across different industries for heat detection and wireless automation, such as transportation, construction, logistics, aerospace technology, electronics, law enforcement, defense, and healthcare.
Infrared Emitter and Receiver Market: Opportunities and Restraints
The rise in innovation within the IR manufacturing industry is expected to sustain the growth of the IR emitter and receiver market in the coming years. For instance, Mitsubishi declared the launch of their product- the Electric Diode InfraRed sensor. The rapidly escalating tension between nations is further purported to aid in the infrared emitter and receiver market’s expansion.
However, a promising trend of market growth is threatened by certain key drawbacks of IR technology, such as its inability to go past opaque objects such as hard walls. Since infrared is essentially radiation, it is also touted to have a detrimental impact on human health and vision. The transmission rate with IR technology is low compared to other modern technologies, and IR generally offers only single device screen control at a time.
Recent Trends & Region-Wise Analysis of Infrared Emitter and Receiver Market
The expansion of the market has been marked by a consistent rise in mergers and acquisitions within the IR manufacturing industry, thus utilizing economics of scale to work in favor of the IR emitter and Receiver market. FLIR Systems has expanded to acquire New England Optical Systems, further optimizing its performance and development capacities.
North America continues to be the most lucrative market for IR emitters and receivers due to diverse factors such as early migration into IR-based technology, and one of the world’s highest defense expenditure figures. The Asia-Pacific region continues to be a key market for IR emitters and receivers, primarily due to rapidly rising defense expenditure by the governments of the region. Both China and India have ramped up their military investment due to escalating security concerns.
Infrared Emitter & Receiver Market: Market Dynamics
The latest trend of global infrared emitter & receiver market is the tremendous increment in demand of IR data communication in various sectors. There are various factors driving the growth of global infrared emitter & receiver market such as increasing demand of IR emitters and receivers in security and surveillance sector, advancement in technologies bring down the price of IR receivers, growth of the automotive industry gives rise the adoption rate of infrared transmitter and emitter in this sector.
On the other side, there are some factors which are responsible to hinder the growth of global infrared emitter & receiver market; availability of viable alternative heating technology and also the legislative barriers in military applications are two of them.
Infrared Emitter & Receiver Market: Segmentation
Segmentation of infrared emitter & receiver market is done on the basis of spectral range, application, vertical and Geography. On the basis of spectral range, global infrared emitter & receiver market is segmented into following segments; near infrared, short wavelength infrared (SWIR), medium wavelength infrared, long wavelength infrared (LWIR) and far wavelength.
On the basis of application, global infrared emitter & receiver market is segmented into Sensing, monitoring & detection, data transmission, thermal heating, imaging and others (spectroscopy).
On the basis of the verticals, global intelligent lighting system market is segmented into automotive, telecommunication, military and aerospace, healthcare, industrial, consumer electronics and security and surveillance.
These above given segments further be sub-segmented as; automotive is sub-segmented into automotive manufacturing, automotive night vision, automated guided vehicle, wheel and electronic stability control, car locking system and others. Sub-segments of telecommunication verticals are fiber optic communication, Irda transceivers and Line-Of-Sight wireless communication.
Military and aerospace vertical is sub-segmented into weapon guidance and target acquisition systems, night vision and monitoring & measurement systems. Sub-segments of healthcare vertical are surgery, sterilizing, manufacturing, medical imaging and health monitoring.
Consumer electronics vertical is sub-segmented into proximity sensors, smartphones & tablets, ATMs and interactive kiosks and photographic equipment. Sub-segments of security and surveillance are surveillance cameras, smoke & fire alarms and home security systems.
Among all the above given segments consumer electronics vertical is having the highest market share of global infrared emitter & receiver market.
On the basis of Geography, infrared emitter & receiver market is segmented into seven regions which are ; North America, Latin America, Western Europe, Eastern Europe, Japan, Asia Pacific Excluding Japan (APEJ), and Middle East and Africa (MEA). Among all the seven region, North America is the highest contributor in term of revenue in global infrared emitter & receiver market, and it is estimated that Asia Pacific is the fastest growing market for infrared emitter & receiver provider across the globe during forecast period.
Infrared Emitter & Receiver Market: Key Players
Key players of global infrared emitter & receiver market are; Murata Manufacturing Co., Ltd., Texas Instruments Inc., Cree, Inc., Honeywell International, Inc., OSRAM Opto Semiconductors GmbH, LITE-ON TECHNOLOGY CORPORATION, FLIR Systems and others.
The report covers exhaustive analysis on
- Infrared emitter & receiver Market Segments
- Infrared emitter & receiver Market Dynamics
- Historical Actual Market Size, 2013 - 2015
- Infrared emitter & receiver Market Size & Forecast 2016 to 2026
- Supply & Demand Value Chain
- infrared emitter & receiver Market Current Trends/Issues/Challenges
- Competition & Companies involved
- Value Chain
- Infrared emitter & receiver Market Drivers and Restraints
Regional analysis for infrared emitter & receiver market includes
- North America
- US & Canada
- Latin America
- Brazil, Mexico, Others
- Western Europe
- Eastern Europe
- Asia Pacific
- Australia and New Zealand (ANZ)
- Greater China
- Rest of Asia Pacific
- Middle East and Africa
- GCC Countries
- Other Middle East
- North Africa
- South Africa
- Other Africa
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.