Infrared Sensor Market Size

Infrared (IR) Sensor Market Analysis

The Infrared Sensor Market size is estimated at USD 0.87 billion in 2024, and is expected to reach USD 1.60 billion by 2029, growing at a CAGR of 12.97% during the forecast period (2024-2029).

Rapid technological advancements, such as connected cars, machines, and wearables, over the past decade have led to the deployment of sensors to take input from the physical environment to perform predefined functions upon detecting specific information. The emergence of micro-electromechanical systems technology has resulted in the miniaturization of mechanical and electro-mechanical elements in the field of sensors with micro-fabrication and micro-machining techniques that have aided the industry to reduce the size, power consumption, and cost of sensors.

• The automotive industry is emerging as a significant investor and adopter of infrared sensors. Although the automotive sector has been witnessing a recession for the last two years, the growing trend of autonomous vehicles and government regulations mandating ADAS systems are some of the major factors driving the adoption of infrared technology in the sector. Active infrared sensors act as proximity sensors and are commonly adopted for vehicle obstacle-detection systems.
• Security and surveillance are other primary applications of infrared detectors, especially pyroelectric infrared sensors. The growing trend for video surveillance across the globe is providing a massive opportunity to market vendors. Recently, the Delhi government stated that it is to install 140,000 devices under the second phase of the CCTV camera project. Additionally, another 1.4 lakhs (140,000) surveillance devices will be installed in the second phase of the CCTV camera project.
• The development of LIDAR technology is providing new opportunities to market vendors. Many companies, such as Sick AG, are investing in developing infrared LiDAR sensors to deliver more accurate and reliable distance sensing and measurement, especially in challenging environmental conditions in the automotive sector. Ruhr-University Bochum is also researching infrared sensors to design new and more efficient drugs by providing near-real-time information about the interaction between a drug and its target protein.
• Battling the COVID-19 pandemic, the market has witnessed an increased proliferation of IR sensors globally over the past year. It is anticipated that IR sensors, microbolometers, and thermopiles that record temperature data and relay that information back to a central medical database will scale up rapidly.