IR Emitter and Reciever Market Growth and Trends
The global IR emitter and receiver market currently holds a market value of US$ 298.4 million in 2020 and is projected to grow at a CAGR of 7.0% to an expected market value of US$ 899.75 million by 2024. The year-over-year growth rate is estimated to be 3.03% for 2022. The rising digitalization is the major growth factor behind the IR emitter and receiver market growth.
IR Emitter And Receiver Market Size shall reach a value of $xx Million in 2031, growing with a CAGR of 9.1% during the forecast period of 2022 to 2031.
The wide range of applications of IR emitters and receivers in several industry verticals such as armed forces, automotive, consumer electronics, and entertainment sectors fuels the demand for the IR emitters and receivers. The increasing globalization has resulted in emerging economies with rising disposable incomes. Thus, the demand and sales of appliances in consumer electronics are at an all-time high. The IR emitters are greatly used in consumer appliances such as television, AC, and DVD players. Presently, with the inflating spending on consumer electronics, the market scope for IR emitters and receivers are broadening.
The increasing demand for security and surveillance in the defence sector has contributed significantly towards the IR emitters and receivers market. With the rising threats of terrorism, the investments made on the surveillance securities are steadily increasing leading to exponential market growth. The increasing need for surveillance in night times or places with minimal light has propelled the sales of IR enabled security cameras.
The industrial sector holds a vital market share as IR emitters are used in complex industrial heat processes. The increasing need for IR devices in the material modeling and manufacturing units is set to bolster the growth of the IR emitter and receiver market. The booming IR imaging devices sector has a high scale of demand for IR emitters and receivers, thus fueling the market growth. The rising demand for IR sensors in automotive, healthcare, and gas/fire detection segments is expected to propel the IR emitter and receiver market. The increasing need for automation globally has raised the sales of highly advanced IR sensors.
The increasing technological advancements rendered by the R&D sector are a major growth factor for the IR market. The enlarging Government investments and initiatives to strengthen their armed forces boost the sales and growth of the market. The top strategic market players are providing IR devices and sensors at very cost-effective prices to beat the cut-throat competition among competitors. This is a major driving factor for the market.
IR Emitter and Reciever Industry Regional Analysis
IR Emitter and Reciever Market Research Report Scope/Definition
IR Emitter and Reciever Market Share and Competition Key companies operating in this industry are: Company 1 ; Company 2 ; Company 3 ; Company 4 and Company 5
IR Emitter and Reciever Market Research Report Analysis Highlights
• Historical data available (as per request)
• Estimation/projections/forecast for revenue and unit sales (2022 – 2031)
• Data breakdown for every market segment (2022 – 2031)
• Gross margin and profitability analysis of companies
• Price analysis of each product type
• Business trend and expansion analysis
• Import and export analysis
• Competition analysis/market share
• Supply chain analysis
• Client list and case studies
• Market entry strategy
Industry Segmentation and Revenue Breakdown
Type Analysis (Revenue, USD Million, 2022 - 2031)
• Type 1
• Type 2
• Type 3
• Type 4
• Type 5
Application Vertical Analysis (Revenue, USD Million, 2022 - 2031)
• Application 1
• Application 2
• Application 3
• Application 4
• Application 5
Region Analysis (Revenue, USD Million, 2022 - 2031)
• United States
• United Kingdom
• South Korea
• Middle East
• Rest of World
IR Emitter and Reciever Industry Companies
• Company 1
• Company 2
• Company 3
• Company 4
• Company 5
Available Versions of IR Emitter and Reciever Market: -
United States Industry Research Report
Europe Industry Research Report
Asia Pacific Industry Research Report
India Industry Research Report
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