The infrared spectrum typically ranges from wavelengths of 0.7 μm to 1 mm. Imaging in this range requires infrared imaging cameras that can convert the radiation of objects in the infrared range to a measurable form. The infrared imaging market is expected to grow from USD 5.8 billion in 2020 to USD 8.3 billion by 2025; it is expected to grow at a CAGR of 7.6% during the forecast period. Security and surveillance, and monitoring and inspection are the key verticals, which dominate the infrared imaging market and also contribute significantly to its growth.
Major players in the infrared imaging market have primarily adopted product launch strategy to strengthen their position in the market.
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FLIR Systems (US) and Fluke (US) are among the major players in the infrared imaging market. FLIR Systems is a prominent company in the infrared imaging market with a strong and well-known infrared imaging product portfolio consisting of various LWIR, MWIR, and SWIR technology-based products. The company is further trying to expand its portfolio by introducing new products. In October 2020 it launched five new products: FLIR Elara FR-345-EST (fixed-mount radiometric thermal security camera), and four new advanced thermal imaging cameras (E96, E86, E76 and E54). The company also focuses on other strategies such as contracts, and partnerships to strengthen its presence in the infrared imaging market. In addition to the extensive product portfolio, the company’s strong brand image, customer base, and wide geographic reach have helped it attain a leading position in the infrared imaging market.
Fluke (US) is another well-known player in the infrared imaging market. The company has a strong portfolio consisting of several award-winning LWIR technology-based products. Fluke has stressed on the product launch strategy to further broaden its product portfolio and strengthen its grip on the infrared imaging market. The company’s geographic reach is another major factor contributing to its strong position in the infrared imaging market. Fluke has manufacturing centers in the US, the UK, Asia, and the Netherlands; and sales and services subsidiaries in North America, Europe, South America, Asia, and Australia.
Infrared Imaging Market with COVID-19 Impact Analysis by Technology (Cooled and Uncooled), Wavelength (Near Infrared, Shortwave Infrared, Mid-wave Infrared, and Long-wave Infrared), Application, Vertical, and Geography - Global Forecast to 2025
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