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Technological advancements and increased product integration( with high resolution cameras and smart phones) contribute better industry prospects. Future opportunities would be generated via developments in remote sensing, hyper spectral imaging, & some other areas. However, curbs on defense expenditures by developed regions may adversely affect demand of IR Camera Market.
The IR( infrared) camera market can be categorized into materials, applications, and regions. Materials consist of silicon, sapphire, germanium, and zinc selenide. Germanium earned 40 % of the total revenues in 2015. Its advantages comprise better carrier mobility and higher nonlinear coefficients. Sapphire is mainly used in high-power and high-pressure applications. Silicon offers short thermal time constant and high uniformity.
Industrial, commercial, military & defense, medical imaging, and others constitute the applications. Military & defense is expected to occupy over one-thirds of the total IR Camera Market size by 2024. It favors IR cameras owing to their prope rties; like ruggedness, reliability, and extreme temperature withstanding-ability.
Commercial and medical imaging would fare well in the eight years ahead. The former is likely to grow at a CAGR of 10 % during the forecast period. It includes security & surveillance, automotive night vision, thermography, and fire & rescue.
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IR technology is non-invasive and hence preferred for medical imaging. IR cameras enable identification of the injured site. They play a major role in detecting cancerous and non- cancerous tumors.
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