Mid ir sensors market
Mid-IR Sensors Market, By Type (Thermal Mid IR Sensors and Photon Mid IR Sensors), By Applications ( Thermal Imager, Gas Sensing, Spectral Sensing, Chemical Sensing, Bio-Sensing, Smart Sensors, and Others), and by Region (North America, Europe, Asia Pacific, Latin America, and Middle East and Africa) - Size, Share, Outlook, and Opportunity Analysis, 2020 - 2027
- May 2020
- CMI3833
- 130 Pages
- Excel & Pdf
- Smart Technologies
Market Overview
The infrared light spectrum is divided into four types: near-infrared spectral region (IR-A), short-wavelength infrared (SWIR, IR-B), long-wavelength infrared (LWIR, IR-C), and mid-infrared (mid-wave infrared, (IR-C, MWIR). Among these, mid-infrared type ranges from 3 to 8 µm due to which various gases and liquids such as oxygen and water show high absorption in this spectrum. As many gases pose high absorption nature in this region ( 3-8 µm), the mid-IR sensor is used in wide range of applications, which include imaging, medical diagnostics, industrial process controls, remote gas leak detection, fire detection, real-time combustion control, pollution monitoring, and others.
The global mid-IR sensors market was valued at US$ 9.8 Bn in 2019 and is expected to exhibit a CAGR of 35.7% during the forecast period (2020 - 2027).
Market Dynamics- Drivers
Increasing demand for thermal imager quipped with mid-IR sensor in space exploration industry is expected to drive growth of the global mid-IR sensors market during the forecast period
A thermal imaging camera or infrared camera is one of the major applications of mid-IR sensors. Thermal imagers are a non-contact type thermal camera that provides visual information on display using thermal radiation. Thermal imagers are rapidly adopted in the space exploration industries for image sensing and data mining. For instance, according to Jet Propulsion Laboratory (JPL), a part of the U.S.-based space exploration agency NASA, is launching James Webb Space Telescope in 2021. In this telescope, NASA is using the Mid-Infrared Instrument (MIRI). This instrument will help the telescope to capture image stars and galaxies in infrared light. Also, this data will be analyzed for the evolution of the universe and star formation. Moreover, the space exploration industry is rapidly growing. According to Coherent Market Insights’ analysis, space exploration industry is expected to reach around 1.2 trillion by 2040. Thus, increasing demand for thermal imagers equipped with mid-IR sensors in the space exploration industry is expected to drive growth of the global mid-IR sensors market during the forecast period.
Statistics:
North America held dominant position in the global mid-IR sensors market in 2019, accounting for 43% share in terms of value, followed by Europe and Asia Pacific, respectively.
Figure 1: Global Mid-IR Sensors Market Share (%) in Terms of value, By Region, 2019
Market Restraints
Low scalability and high manufacturing cost are expected to hamper the global mid-IR sensors market growth during the forecast period
Various chemicals and biological substances can be accurately detected by mid-IR sensors, which is a major factor driving the mid-IR market growth. However, detection of each and every substance requires a specific light source and detector, which ultimately increases end-product cost. The demand for mid-IR sensors is increasing in the material and chemical detection market, however, low scalability and high manufacturing cost are expected to hamper growth of the global mid-IR sensors market over the forecast period.
Market Opportunities
An increase in demand for low-cost mid-IR sensors for consumer products is expected to create lucrative growth opportunities for players operating in the global mid-IR sensors market
Earlier, low-cost optical sensing technology was mainly limited to near-infrared (IR) and visible wavelengths; however, currently, there is an increase in demand for mid-IR wavelengths (2.5–25 µm) equipped with low-cost optical sensing technology for applications including thermal imaging spectroscopy, air quality monitoring, and consumer products. Among these applications, use of mid-IR sensors in consumer products is expected to provide lucrative growth opportunities to the key players. Mid-IR sensors can be used for composition analysis of edible oils, sugar and salt monitoring of food items, and other applications. According to Coherent Market Insights’ analysis, India consumer products registered a growth of 13.3% in the year 2018-2019 and it is expected to increase over the forecast period. Thus, an increase in demand for low-cost mid-IR sensors for consumer products is expected to create lucrative growth opportunities for players operating in the global mid-IR sensors market.
Figure 2: Global Mid-IR Sensors Market Value (US$ Bn), 2017 - 2027
The global mid-IR sensors market was valued at US$ 9.8Bn in 2019 and is projected to reach a value of US$ 112.4 Bn by 2027 at a CAGR of 35.7 % between 2020 and 2027.
Competitive Landscape
Key players operating in the global mid-IR sensors market include Daylight Solutions, Inc., Structured Materials Industries, Inc., Maxion Technologies, SenseAir, Sofradir, Cascade Technologies, Inc., AdTech Optics, Inc., Block Engineering, LLC, HAMAMATSU PHOTONICS K.K., M-Squared Lasers Limited, Opto-Knowledge Systems, Inc., CMLaser Technologies Inc., Genia Photonics, IPG Photonics Corporation, Coherent, Inc., EKSPLA, Northrop Grumman Corporation, Quantum Composers, Inc., Coractive High-Tech Inc., and others.
These key market players are focusing on strategic expansions to meet the increasing consumer demand.
Key Developments
- Key companies in the market are focused on partnership in order to gain competitive edge in the market. For instance, in February 2020, Senseair AB, AMO GmbH, KTH Royal Institute of Technology, Oxford Instruments Plasma Technology Ltd, Graphenea Semiconductor SL, Universität der Bundeswehr München, Catalan Institute of Nanoscience and Nanotechnology, and SCIPROM Sàrl entered into a partnership in order to develop new mobile gas sensing technology for mobile gas sensing for industrial, safety, and environmental monitoring applications.
- On April 22, 2020, CMLaser Technologies Inc., a U.S.-based electronics company, received funding of undisclosed amount from University of Arizona. This funding was for development of laser-based countermeasures to protect military and civilian aircraft from missiles.
Table of Contents
- Research Objectives and Assumptions
- Research Objectives
- Assumptions
- Abbreviations
- Market Purview
- Report Description
- Market Definition and Scope
- Executive Summary
- Market Snippet, By Type
- Market Snippet, By Applications
- Market Snippet, By Region
- Coherent Opportunity Map (COM)
- Report Description
- Market Dynamics, Regulations, and Trends Analysis
- Market Dynamics
- Drivers
- Restraints
- Market Opportunities
- Regulatory Scenario
- Industry Trend
- Merger and Acquisitions
- New System Launch/Approval
- Market Dynamics
- Global Mid-IR Sensors Market, By Type, 2017-2027 (US$ Billion)
- Introduction
- Market Share Analysis, 2019 and 2027 (%)
- Segment Trends
- Thermal Mid IR Sensors
- Introduction
- Market Size and Forecast, 2020–2027, (US$ Billion)
- Photon Mid IR Sensors
- Introduction
- Market Size and Forecast, 2020–2027, (US$ Billion)
- Introduction
- Global Mid-IR Sensors Market, By Applications, 2017-2027 (US$ Billion)
- Introduction
- Market Share Analysis, 2019 and 2027 (%)
- Segment Trends
- Thermal Imager
- Introduction
- Market Size and Forecast, 2020–2027, (US$ Billion)
- Gas Sensing
- Introduction
- Market Size and Forecast, 2020–2027, (US$ Billion)
- Spectral Sensing
- Introduction
- Market Size and Forecast, 2020–2027, (US$ Billion)
- Chemical Sensing
- Introduction
- Market Size and Forecast, 2020–2027, (US$ Billion)
- Bio-Sensing
- Introduction
- Market Size and Forecast, 2020–2027, (US$ Billion)
- Smart Sensors
- Introduction
- Market Size and Forecast, 2020–2027, (US$ Billion)
- Others
- Introduction
- Market Size and Forecast, 2020–2027, (US$ Billion)
- Introduction
- Global Mid-IR Sensors Market, By Region, 2017-2027 (US$ Billion)
- Introduction
- Market Share Analysis, By Region, 2019 and 2027 (%)
- North America
- Regional Trends
- Market Size and Forecast, By Type, 2020–2027 (US$ Billion)
- Market Size and Forecast, By Applications, 2020–2027 (US$ Billion)
- Market Share Analysis, By Country, 2019 and 2027 (%)
- U.S.
- Canada
- Europe
- Regional Trends
- Market Size and Forecast, By Type, 2020–2027 (US$ Billion)
- Market Size and Forecast, By Applications, 2020–2027 (US$ Billion)
- Market Share Analysis, By Country, 2019 and 2027 (%)
- U.K.
- Germany
- Italy
- France
- Russia
- Rest of Europe
- Asia Pacific
- Regional Trends
- Market Size and Forecast, By Type, 2020–2027 (US$ Billion)
- Market Size and Forecast, By Applications, 2020–2027 (US$ Billion)
- Market Share Analysis, By Country, 2019 and 2027 (%)
- China
- India
- Japan
- ASEAN
- Australia
- South Korea
- Rest of Asia Pacific
- Latin America
- Regional Trends
- Market Size and Forecast, By Type, 2020–2027 (US$ Billion)
- Market Size and Forecast, By Applications, 2020–2027 (US$ Billion)
- Market Share Analysis, By Country, 2019 and 2027 (%)
- Brazil
- Argentina
- Mexico
- Rest of Latin America
- Middle East and Africa
- Regional Trends
- Market Size and Forecast, By Type, 2020–2027 (US$ Billion)
- Market Size and Forecast, By Applications, 2020–2027 (US$ Billion)
- Market Share Analysis, By Country, 2019 and 2027 (%)
- GCC Countries
- South Africa
- Rest of the Middle East and Africa
- Introduction
- Competitive Landscape
- Company Profiles
- Daylight Solutions, Inc.
- Company Overview
- Product Portfolio
- Financial Performance
- Key Strategies
- Recent Developments/Updates
- Structured Materials Industries, Inc.
- Company Overview
- Product Portfolio
- Financial Performance
- Key Strategies
- Recent Developments/Updates
- Maxion Technologies
- Company Overview
- Product Portfolio
- Financial Performance
- Key Strategies
- Recent Developments/Updates
- SenseAir
- Company Overview
- Product Portfolio
- Financial Performance
- Key Strategies
- Recent Developments/Updates
- Sofradir
- Company Overview
- Product Portfolio
- Financial Performance
- Key Strategies
- Recent Developments/Updates
- Cascade Technologies, Inc.
- Company Overview
- Product Portfolio
- Financial Performance
- Key Strategies
- Recent Developments/Updates
- AdTech Optics, Inc.
- Company Overview
- Product Portfolio
- Financial Performance
- Key Strategies
- Recent Developments/Updates
- Block Engineering, LLC
- Company Overview
- Product Portfolio
- Financial Performance
- Key Strategies
- Recent Developments/Updates
- HAMAMATSU PHOTONICS K.K.
- Company Overview
- Product Portfolio
- Financial Performance
- Key Strategies
- Recent Developments/Updates
- M-Squared Lasers Limited
- Company Overview
- Product Portfolio
- Financial Performance
- Key Strategies
- Recent Developments/Updates
- Opto-Knowledge Systems, Inc.
- Company Overview
- Product Portfolio
- Financial Performance
- Key Strategies
- Recent Developments/Updates
- CMLaser Technologies Inc.
- Company Overview
- Product Portfolio
- Financial Performance
- Key Strategies
- Recent Developments/Updates
- Genia Photonics
- Company Overview
- Product Portfolio
- Financial Performance
- Key Strategies
- Recent Developments/Updates
- IPG Photonics Corporation
- Company Overview
- Product Portfolio
- Financial Performance
- Key Strategies
- Recent Developments/Updates
- Coherent, Inc.
- Company Overview
- Product Portfolio
- Financial Performance
- Key Strategies
- Recent Developments/Updates
- EKSPLA
- Company Overview
- Product Portfolio
- Financial Performance
- Key Strategies
- Recent Developments/Updates
- Northrop Grumman Corporation
- Company Overview
- Product Portfolio
- Financial Performance
- Key Strategies
- Recent Developments/Updates
- Quantum Composers, Inc.
- Company Overview
- Product Portfolio
- Financial Performance
- Key Strategies
- Recent Developments/Updates
- Coractive High-Tech Inc
- Company Overview
- Product Portfolio
- Financial Performance
- Key Strategies
- Recent Developments/Updates
- Daylight Solutions, Inc.
- Company Profiles
- Section
- References
- Research Methodology
- About Us and Sales Contact
*Browse XX market data tables and XX figures on “Global Mid-IR Sensors Market-forecast to 2027”.