Technavio market research analysts forecast the global infrared (IR) emitter and receiver market to grow at a CAGR of more than 10% during the forecast period, according to their latest report.
This Smart News Release features multimedia. View the full release here: http://www.businesswire.com/news/home/20170125005500/en/
Technavio has published a new report on the global IR emitter and receiver market from 2017-2021. (Photo: Business Wire)
The market study covers the present scenario and growth prospects of the global IR emitter and receiver market for 2017-2021. The report also states that the market is dominated by the security applications of IR emitters and receivers in the residential, commercial, defense, and industrial sectors. Other major application segments of the market include sensing, and test and measurement.
Request a sample report:http://www.technavio.com/request-a-sample?report=55953
Technavio’s sample reports are free of charge and contain multiple sections of the report including the market size and forecast, drivers, challenges, trends, and more.
Technavio hardware and semiconductor analysts highlight the following three market drivers that are contributing to the growth of the global IR emitter and receiver market:
- Decline in the price of IR sensors and increase in adoption of IR sensors
- Government initiatives
- Increase in number of connected devices through IoT
Decline in the price of IR sensors and increase in adoption of IR sensors
Advances in manufacturing technology and design of sensors, along with an increase in the number of local and regional suppliers has led to a decline in the prices of IR sensors. Regional vendors are offering IR sensors with a high level of customization at comparatively lower rates than those of global suppliers, thus forcing global suppliers to reduce the price of their products. The reduction in costs and miniaturization has led to the growing adoption of IR sensors in smartphones and tablets.
“Also, due to advances in technology, applications of IR sensors are increasing in commercial markets such as surveillance, automotive products, testing, gas and fire detection, IR spectroscopy in healthcare, food, and agrochemical quality control, and other commercial vision applications,” says Sunil Kumar Singh, a lead analyst at Technavio for semiconductor equipment research.
Government initiatives
Another major driver for the IR emitter and receiver market is the government investment in encouraging construction of energy-efficient houses. For instance, the US Department of Energy (DOE) has launched one such program namely Weatherization Assistance Program (WAP) or Weatherization. The US DOE Weatherization or WAP provides a grant to states, territories, and Indian tribes to support families with low income to develop energy-efficient homes. Since its inception in 1976, the DOE has helped more than 7 million families by reducing their energy bills. An important part of the program requires diagnostics of buildings using IR thermography (includes IR emitter and receiver) to understand the insulation level better.
Increase in number of connected devices through IoT
The internet of things (IoT) is an emerging trend and is becoming an essential tool in product development. The IoT acts as a bridge between the physical and the virtual world by linking objects, information, and data and provides seamless connectivity. The number of connected devices is expected to reach 30 billion units by 2020.
These devices use MEMS-based sensors (IR sensors) to detect and capture data and pass it to microcontroller units (MCUs) and microprocessor units (MPUs) for controlling and processing data.
“Around 30% of the total revenue of the IoT is expected from the healthcare segment and smart cities during the forecast period. IoT will prove to be a boon for the consumer electronic applications used for smart home automation,” says Sunil.
Browse Related Reports:
- Global Military Electro-optical and Infrared Systems Market 2016-2020
- Global Infrared Thermography Market 2016-2020
- Global Passive Infrared Motion Sensor Market 2016-2020
Become a Technavio Insights member and access all three of these reports for a fraction of their original cost. As a Technavio Insights member, you will have immediate access to new reports as they’re published in addition to all 6,000+ existing reports covering segments like computing devices, displays, and embedded systems. This subscription nets you thousands in savings, while staying connected to Technavio’s constant transforming research library, helping you make informed business decisions more efficiently.
About Technavio
Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
If you are interested in more information, please contact our media team at media@technavio.com.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170125005500/en/
