The global Mid-IR Sensors Market is estimated to be valued at US$ 31.63 Billion in 2023 and is expected to exhibit a CAGR of 36% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Mid-IR sensors enable detection and measurement of mid-infrared radiation spectrum from objects that emit, reflect, or transmit this type of infrared radiation. These sensors are capable of detecting wavelengths ranging from 3 to 8 micrometers. They find extensive usage in thermal imaging, gas detection, and proximity sensing applications owing to their ability to detect infrared signatures of various materials.
Market key trends:
One of the major trend gaining traction in the mid-IR sensors market is the increasing adoption of uncooled infrared sensors. Uncooled infrared sensors are primarily based on microbolometer technology. Microbolometers are simple solid-state thermal detectors that absorb infrared energy and translate it into changes in temperature. They offer advantages such as low cost, small size, robustness, and no requirement for cryogenic cooling. Hence, they are gaining preference over cooled infrared detectors for thermal imaging applications such as night vision, surveillance, predictive maintenance, and firefighting. This growing demand for uncooled sensors is estimated to drive the growth of the overall mid-IR sensors market during the forecast period.
SWOT Analysis
Strength: Mid-IR sensors have high sensitivity and selectivity. They can detect various gases and materials accurately.
Weakness: Mid-IR sensors require costly materials like mercury cadmium telluride and have high manufacturing costs.
Opportunity: Rising demand for gas detection systems from industries like oil & gas and healthcare offers scope for mid-IR sensor market growth. Growing automotive sector also needs mid-IR sensors for advanced driver assistance systems.
Threats: availability of cheaper alternative technologies like visible light and near IR sensors can hamper mid-IR sensor demand. Stringent regulations over use of toxic materials in sensor fabrication are a challenge.
Key Takeaways
The global mid-IR sensors market is expected to witness high growth, exhibiting CAGR of 36% over the forecast period, due to increasing demand for gas detection systems from various industries. Mid-IR sensors find extensive usage in petrochemical, industrial, medical, and food processing industries for analyzing gas compositions.
North America dominated the mid-IR sensors market in 2023, accounting for around 35% share. Presence of major gas sensing companies and growing aerospace and defense industry drive the North American mid-IR sensors market. Asia Pacific is expected to witness fastest growth during the forecast period owing to rising manufacturing activities, automotive production, and food processing in China, India, Japan and South Korea.
Key players operating in the mid-IR sensors market are Honeywell International, Hamamatsu Photonics K.K., Daylight Solutions, Cascade Technologies, M Squared Lasers Limited, Teledyne FLIR LLC, IPG Photonics Corporation, Changchun New Industries Optoelectronics Tech. Co., Ltd. Major players focus on developing new mercury-free mid-IR sensor technologies and expanding into Asia Pacific market to leverage growth opportunities.
The vendors in the Mid-IR Sensors Industry have invested in high-quality technology and processes to develop leading edge Internet of Things capability.
Sensors are being implemented in a wide variety of applications by each vendor so as to permit benefit from first mover advantage in the market.Mid-wave infrared (mid-IR) is the spectral region where most of the fundamental structural information is produced.
Mid-IR sensors bring the ability to sense temperature, distance, presence, motion and texture.
This extension of the human senses, in combination with digital systems promises a revolution in improved control of everything people use and touch.Mid IR sensors are the base of the Internet of Things initiatives, they form the building blocks for all different types of imaging and controls.
Drones, robots, industrial robots, machines, cameras, buildings, fire departments, traffic lights, traffic control, the military, the border patrol, law enforcement, healthcare, asthma treatment, virtually everyone will increasingly use mid IR sensors.Mid-IR sensor manufacture promises to change everything.
More visibility, more awareness permits greater and more granular control of action in the military.
