Global Infrared Camera Market share to grow at over 9.5% CAGR by 2023: Global Market Insights Inc. According to the new research report “(Infrared) IR Camera Market Size By Application, By Material, Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2012 – 2023�, The (Infrared) IR Camera Market size forecast to reach USD 6.8 billion by 2023; according to a new research report by Global Market Insights, Inc. While these devices were limited to niche and specific application sectors such as military and defense, technology developments have led to growth in the global IR camera market share. The presence of a viable pricing landscape coupled with uncooled imaging technology advancements is responsible for large IR camera market size across various end-use areas. MEMS technology based microbolometers have gained prominence in the industry, and aided in faster commercialization of products such as thermal-technology based imagers. Miniaturization has led to lower IR camera market price trend, which is set to drive revenue growth over the next few years. Untapped growth areas, such as in the automotive sector, will provide opportunities for expansion for companies operating in the industry. Near-Infrared (NIR) based systems improve night-time driving conditions. For example, FLIR Systems has developed Path Find IR, a compact camera that helps the driver to detect potential hazards, ensuring faster reaction to any possible danger. The company works on the OEM solutions with Autoliv.
IR camera market share in healthcare applications will grow at 9.8% CAGR estimation from 2016 to 2023. It is a non-invasive technology and helps effectively detect potentially life threatening conditions, which will drive growth across the sector. Major use cases of thermography in the medical space include determining the impact of diseases on the core body temperature, researching the effect of drugs, etc. Across airports, these devices prove instrumental in cases of epidemic outbreak, since they help detect passengers that exhibit elevated body temperature.
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