About this market
Increasing investment in autonomous cars to drive market growth. With the rise in autonomous cars, the adoption of LIDAR systems will increase, which, in turn will drive the need for infrared sensors. analysts have predicted that the infrared sensors market will register a CAGR of over 11% by 2023.
Market Overview
Increase in number of burglaries
The rising need to reduce instances of thefts and burglaries has resulted in increased demand for smart homes.
Impact of environmental conditions on infrared sensors
Infrared detection equipment is sensitive to rain, fog, dust sunlight, and wind, which is hindering the market growth.
For the detailed list of factors that will drive and challenge the growth of the infrared sensors market during the 2019-2023, view our report.
Competitive Landscape
The market appears to be fragmented and with the presence of several companies including FLIR Systems and Hamamatsu Photonics the competitive environment is quite intense. Factors such as the increase in number of burglaries and the increasing investment in autonomous cars, will provide considerable growth opportunities to infrared sensors manufactures. Excelitas Technologies, FLIR Systems, Hamamatsu Photonics, Murata Manufacturing, and Sofradir are some of the major companies covered in this report.