The global infrared emitter and receiver market witnessed robust growth in 2021, with total sales reaching US$ 220.5 million. Looking ahead, this market is poised for significant expansion, projected to achieve a remarkable 7.6% CAGR. By 2032, it is estimated that the market will surge to an impressive US$ 480 million.
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Key Takeaways:
- In 2021, global infrared emitter and receiver sales totaled US$ 220.5 million.
- The market is expected to grow at a CAGR of 7.6% from 2022 to 2032, reaching US$ 480 million.
- The healthcare sector is a primary driver, with a projected CAGR of 7.2%.
- Infrared emitters emit light in the infrared spectrum, while receivers decode IR signals.
- They are used in consumer electronics, unmanned vehicles, military, and aerospace applications.
“Increasing applications across thriving consumer electronics, healthcare, and defense sector will boost IR emitter & receiver sales through 2032. Smartphone technology is advancing at an accelerated rate, and increasingly offers features that require integration of IR emitters & receivers. Manufacturers would find it beneficial to look into innovations that offer detection of a wide range of motions, and find compatibility with smartphone technologies.”- says a Future Market Insights (FMI) analyst.
Drivers and Opportunities: The healthcare industry continues to be a key driver of growth for the infrared emitter and receiver market, with a projected CAGR of 7.2%. These devices play a crucial role in various healthcare applications, including remote patient monitoring and diagnostics.
In addition to healthcare, the rising adoption of infrared emitters and receivers in consumer electronics is expected to fuel market growth. These devices are integral to remote controls and are widely used in devices such as DVD players and televisions. As the production and sales of consumer appliances increase, so does the demand for infrared emitter and receiver components.
Competitive Landscape – Regional Trends: The competitive landscape of the infrared emitter and receiver market is characterized by increasing innovation and technological advancements. Leading manufacturers are focusing on research and development to enhance the performance and capabilities of their products.
Regionally, Asia Pacific is expected to dominate the market, driven by the presence of major manufacturing hubs and the increasing adoption of consumer electronics in the region. North America and Europe are also anticipated to contribute significantly to market growth, owing to their strong healthcare industries and growing aerospace and military sectors.
Restraints: Despite the positive growth outlook, the market may face challenges related to regulatory compliance and the need for standardization in the industry. Additionally, supply chain disruptions and fluctuations in raw material prices could pose obstacles to market expansion.
Region-wise Insights – Category-wise Insights:
- Asia Pacific: Dominates the market, driven by consumer electronics and manufacturing hubs.
- North America: Strong healthcare industry and military applications contribute to growth.
- Europe: Growing aerospace and military sectors boost demand.
- Latin America: Potential for growth in consumer electronics market.
- Middle East & Africa: Emerging opportunities in military and aerospace applications.
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Global Infrared Emitter and Receiver Market Segmentation
By Wavelength Range:
- Near Infrared
- Short-wave Infrared – SWIR
- Mid-wave Infrared – MWIR
- Long-wave Infrared – LWIR
- Far Infrared
By Application:
- Security and Surveillance
- Imaging
- Hunting and Wild Life observation
- Hidden Object Finding
- Condition Monitoring and Inspection
- Sensing, Detection, and Measurement
- Paranormal Research
- Spectroscopy
By End-User Industry:
- Automotive
- Construction
- Transportation and Logistics
- Chemical
- Aerospace
- Consumer Electronics
- Military & Defense
- Law Enforcement
- Healthcare
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East and Africa
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