MarketsandMarkets’ research report titled "Infrared Imaging Market by Technology (Cooled Infrared Imaging and Uncooled Infrared Imaging), Wavelength (Near Infrared, Shortwave Infrared, Mid-wave Infrared, and Long-wave Infrared), Application, Vertical, and Geography - Global Forecast to 2023", indicates that the IR imaging market is expected to grow from $5.16 Billion in 2018 to $7.30 Billion by 2023, at a CAGR of 7.18% between 2018 and 2023. Growth can be attributed to the demand for infrared imaging products from the military and defense sector, primarily for security and surveillance applications.
- Uncooled infrared imaging segment held larger share of infrared imaging market in 2017
- Security and surveillance application to dominate infrared imaging market during forecast period
- Market for nonindustrial vertical to grow at higher CAGR during forecast period
- North America held largest share of infrared imaging market in 2017
- Some of the players operating in the infrared imaging market include FLIR Systems (US), Fluke (US), Sensors Unlimited (US), Leonardo DRS (US), Princeton Infrared Technologies (US), L3 Technologies (US), Axis Communications (Sweden), Xenics (Belgium), Opgal Optronic Industries (Israel), New Imaging Technologies (France), Sofradir (France), C-Thermal (Austria), Tonbo Imaging (India), Raptor Photonics (UK), and Episensors (US).