The mid-IR sensors market offers diverse benefits for various applications including sensing gases, thermal imaging, and spectroscopy. Mid-IR sensors are advantageous as they can detect molecular fingerprint regions with high specificity at room temperature.
The Global Mid-IR Sensors Market is estimated to be valued at US$ 36.44 Bn in 2024 and is expected to exhibit a CAGR of 15% over the forecast period 2024 to 2031.
Mid-IR sensors find widespread use across industries like automotive, healthcare, industrial, security and military & defense. They offer non-contact temperature sensing and gas detection abilities ideal for advanced driver-assistance systems, medical diagnostics, predictive maintenance, and threat detection. Automotive sector is increasingly adopting mid-IR sensors to enhance safety and autonomous driving capabilities. The high growth in automotive production globally is thus fueling demand for mid-IR sensors.
Key Takeaways
Key players operating in the mid-IR sensors are Nestlé S.A,Nissin Food Holdings Co., Ltd.,Nestlé S.A,Nissin Food Holdings Co., Ltd.Indofood CBP Sukses Makmur Tbk PT,Tingyi (Cayman Islands) Holding Corporation,Uni-President Enterprises Corporation,Acecook Vietnam Joint Stock Company. The increasing demand for autonomous and electric vehicles integrated with advanced driver-assistance systems and the growth in production of self-driving cars are boosting the adoption of mid-IR sensors. The rising awareness about applications of mid-IR sensors across industries and the expansion of key players in developing regions present significant growth opportunities.
Market key trends
One of the key trends in the Mid-IR Sensors Market Growth is the shift towards compact and wafer-level packaged sensors with System-in-Package (SiP) technology. This enhances integration density and miniaturizes mid-IR sensing solutions. Another notable trend is the development of MEMS-based mid-IR sensors with improved sensitivity, accuracy and cost-effectiveness compared to traditional counterparts. Ongoing R&D for UVOLED-based mid-IR sensors paves way for cost-effective, robust and compact mid-IR imaging systems with SWIR and LWIR detection capabilities.
Porter’s Analysis
Threat of new entrants: Mid-IR Sensors require high R&D investments and established supply chains, making entry difficult for new players.
Bargaining power of buyers: Large buyers have significant bargaining power to negotiate on price and demand customized products.
Bargaining power of suppliers: Key components like lasers and optics are specialized, giving existing suppliers bargaining power over sensor manufacturers.
Threat of new substitutes: Alternate sensing technologies like visible light and UV pose potential substitution threats.
Competitive rivalry: Mid-IR Sensor market sees intense competition among top players to gain market share through product differentiation and expanded applications.
Geographical Regions
The Mid-IR Sensors market in terms of value is concentrated in North America and Europe due to large presence of end-use industries and technological advancement. Asia Pacific region is fastest growing market led by increasing industrial automation adoption in China, Japan and Southeast Asian countries. Security and surveillance along with process control applications are major revenue contributors.
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1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it