Infrared Sensors Market is anticipated to Expand at a Healthy CAGR of 12.80% 2024; Rising Security Concerns to Fuel Uptake of Infrared Sensors
The global market for infrared sensors exhibits a consolidated structure, finds a report by Transparency Market Research (TMR). The top four players in this market, namely Murata Manufacturing, FLIR Systems, Hamamatsu Photonics, and Excelitas Technologies, together accounted for more than 85% in this market in 2015. As these players are aggressively focusing on innovation and advancements in the current offering to gain greater visibility, the competition within the market is likely to intensify further in the years to come. Global Infrared Sensor Market: Snapshot The significant rise in security concerns among consumers and the growing demand for consumer electronics products is impacting the global market for infrared sensors greatly. The massive demand for security at commercial places, such as offices, hospitals, and hotels is likely to push the growth of this market upward in the next few years. Apart from this, the decline in the retail prices of these sensors is a...