According to the report titled ‘Global IR Camera Market Size study, by Technology (Cooled and Uncooled), Wavelength (Near Infrared, Shortwave Infrared, Mid-wave Infrared, and Long-wave Infrared), Application (Security & Surveillance, Monitoring &Inspection, Detection) Vertical (Industrial, Nonindustrial) and Regional Forecasts 2021-2027’, available with MarketStudyReport, global IR camera market was valued at USD 5.10 billion in 2020 and is expected to grow at a healthy rate of 8.3% thereby reaching a valuation of USD 8.91 billion during the forecast period 2021-2027.
 

Extensive use of infrared imaging devices in surveillance and security applications, as well as growing preference in quality control applications are propelling the global IR camera market growth. Citing an instance, FLIR Systems Inc. added four new products, E54, E76, E86, and E96 to its Exx-Series advanced thermal imaging IR cameras in October 2020, allowing early detection and troubleshooting of various technical and mechanical issues.
 

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Furthermore, widespread adoption of infrared cameras in electronics sector is anticipated to create lucrative opportunities for businesses in this domain in the coming years.
 

Despite the positive outlook, strict import and export guidelines will pose as challenge in the market sphere over the course of the study.
 

Based on technology, worldwide IR camera industry is divided into cooled, and uncooled. In terms of wavelength, the market is categorized into long-wave infrared, shortwave infrared, mid-wave infrared, and near-infrared. 
 

Concerning application scope, the business sphere is classified into detection, monitory & inspection, and security & surveillance. Different end-use verticals served are industrial, and non-industrial.
 

From a regional standpoint, North America market is poised to exhibit a momentous growth rate during the projected timeline, due to factors such as surging demand for high-definition cameras for surveillance & security applications and increasing usage of infrared cameras in consumer electronics sector.
 

The competitive landscape of global IR camera market is defined by companies such as Teledyne FLIR LLC, New Imaging Technologies (NIT), Axis Communications AB, Leonardo DRS, Opgal Optronics Industries Ltd., Sensors Unlimited Inc., Fluke Corporation, and XenICs among others. Insights pertaining to new launches and various expansion strategies undertaken by these behemoths are provided to enable the reader to better understand the commercial matrix of this industry space.