Infrared Temperature Sensor Market
Infrared Temperature Sensor Market
The market for Infrared Temperature Sensor was estimated at $324.70 million in 2024; it is anticipated to increase to $503 million by 2030, with projections indicating growth to around $726 million by 2035.
Global Infrared Temperature Sensor Market Outlook
Revenue, 2024 (US$M)
$325M
Forecast, 2034 (US$M)
$675M
CAGR, 2024 - 2034
7.6%
Market Key Insights
- The Infrared Temperature Sensor market is projected to grow from $324.7 million in 2024 to $675 million in 2034. This represents a CAGR of 7.6%, reflecting rising demand across Industrial Process Monitoring, Automotive Safety and Healthcare and Pandemic Management.
- Honeywell International Inc, OMRON Corporation, Texas Instruments Inc are among the leading players in this market, shaping its competitive landscape.
- U.S. and China are the top markets within the Infrared Temperature Sensor market and are expected to observe the growth CAGR of 4.9% to 7.3% between 2024 and 2030.
- Emerging markets including Indonesia, United Arab Emirates and South Africa are expected to observe highest growth with CAGR ranging between 8.7% to 10.5%.
- Transition like Infiltration of IoT and AI Technologies is expected to add $49.6 million to the Infrared Temperature Sensor market growth by 2030
- The Infrared Temperature Sensor market is set to add $351 million between 2024 and 2034, with manufacturer targeting Automotive Industry & Food & Beverage Industry Application projected to gain a larger market share.
- With Increasing demand in healthcare sector, and Development of smart cities, Infrared Temperature Sensor market to expand 108% between 2024 and 2034.
Opportunities in the Infrared Temperature Sensor
Amid the Covid 19 outbreak impact health monitoring has become a focus of technological advancement with the rise of Infrared Temperature Sensors allowing for contactless body temperature measurement ensuring safety and efficiency in various devices such, as smartwatches and fitness trackers creating new market prospects.
Growth Opportunities in North America and Asia-Pacific
North America Outlook
Asia-Pacific Outlook
Market Dynamics and Supply Chain
Driver: Increasing Demand in Healthcare Sector, and Advancements in Autonomous Vehicles
Restraint: High Product Cost
Opportunity: Smart Home Integration and Industrial Automation
Challenge: Technological Superiority & User Familiarity
Supply Chain Landscape
Raw Material Acquisition
Honeywell
Bosch Sensortec
Component Fabrication
Texas Instruments
Panasonic
Product Assembly & Testing
Melexis
Omron
Distribution & End User Applications
Industrial Processing
Medical Diagnosis
Raw Material Acquisition
Honeywell
Bosch Sensortec
Component Fabrication
Texas Instruments
Panasonic
Product Assembly & Testing
Melexis
Omron
Distribution & End User Applications
Industrial Processing
Medical Diagnosis