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IR (Infrared) Camera Market growth to be driven by development in IR ImagingTechnology

View More @ http://bit.ly/2j3epuj<br>Infrared Camera Market share was over USD 3 billion in 2015 and is poised to reach USD 6.8 billion by 2023, military and defense sector to be dominating with their forecast to cross USD 2.4 billion by 2023; according to a new research report by Global Market Insights, Inc.<br>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 industry share.

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IR (Infrared) Camera Market growth to be driven by development in IR ImagingTechnology

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  1. Global IR Camera Market Share to exceed USD 6.8 billion by 2023: Global Market Insights Inc. Fuel Cell Market size worth $25.5bn by 2024

  2. KeyInsights from Infrared (IR) Camera Market: • IR camera market size for products fitted with sapphire lens will grow at 10.7% CAGR from 2016 to 2023. The material presents high degree of durability and is scratch-resistant and robust in nature which will drive growth in the coming years. It can also withstand extreme conditions and temperature fluctuations, making it well-suited for use in numerous industry verticals. • Germanium will remain the leading material segment through the next few years. Key features that drive adoption include high refractive index and low optical dispersion. However, it is not a suitable material of choice in case of environments characterized by high temperatures. • Military and defense applications occupied over 35% of the IR camera market share in 2015, and are further forecast to continue dominating revenue over the forecast timespan. Lower defense budgets in major regional economies may negatively impact growth across the segment.

  3. Continued... • The commercial sector is forecast to remain attractive due to adoption for purposes such as building diagnosis, border security, nuclear power stations, airports, etc. • The U.S. IR camera market share will continue to be significant, and the North American industry is forecast to exceed USD 2.5 billion by 2023, primarily due to growth in the commercial and industrial sectors. • Major industry participants are FLIR Systems, Samsung, Axis Communications, Seek Thermal, etc. Applicability across numerous industry sectors through new product development and innovation represents the major strategic standpoint.

  4. North America IR Camera Market size, by application, 2013-2023 (USD Billion)

  5. Browse Full Market Research Report On Infrared (IR) Camera Market @ https://goo.gl/ukGNSx Request for a Sample of this Research Report @ https://www.gminsights.com/request-sample/detail/397

  6. 360° Analysis • Application Trends • Military & defense IR camera market is forecast to cross USD 2.4 billion by 2023 owing to the rising security concerns. Increasing demand for rugged products coupled with reliable and temperature tolerance across the globe is anticipated to boost the segment demand over the future. Moreover, increasing investments in defense sector from countries like Asia Pacific may further contribute to industry growth. In addition, ability to detect faults in process control, equipment and quality control will further lead to the increase in adoption over the forecast period. • Regional Trends • North America, through U.S. IR camera market size led the global revenue in 2015 and is expected to continue dominating the industry over the forecast period owing to the presence of majority of established players. Rising demand from video surveillance cabling and infrastructure sector is anticipated to drive the regional demand. Moreover, effective mass screening to detect individuals may add an advantage to the region’s growth. • Competitive Market Share • Key industry players include FLIR Systems, DRS, Axis Communications, Samsung, Fluke, and Seek Thermal. Other notable players include Raytheon Company, Testo AG, etc. Industry participants are engaged in price reduction, product performance & reputation, customer service and training to enhance the industry presence. Mergers & acquisitions are among the key strategies for expanding IR camera market share.

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