Mid-IR sensors are witnessing increased adoption across various industries such as military & defense, healthcare, and manufacturing by enabling accurate detection and measurement of molecules in trends with growing demand for enhanced safety and precision. Mid-IR sensors allow detection of gases, chemicals, and other materials by capturing their unique absorption patterns of infrared light. Majority of organic compounds absorb and emit mid-infrared light. Global Mid-IR Sensors Market is estimated to be valued at US$ 101.96 Mn in 2024 and is expected to exhibit a CAGR of 5.5% over the forecast period 2024 to 2031
Mid-IR sensors offer advantages like non-contact and remote temperature measurement, gas detection, molecular fingerprint identification, and quality control. Need for high-precision temperature measurement, gas leak detection, and manufacturing quality control is driving increased adoption of mid-IR sensors across industries. Key Takeaways Key players operating in the Mid-IR Sensors are General Mills Inc., The Nature’s Bounty Co. (NBTY), Amway Enterprises, Herbalife International, Inc., Royal DSM NV, Pepsi Co., Groupe Danone, Bayer AG, Abbott Laboratories, and Chobani LLC. Key players like General Mills and Royal DSM NV are focusing on developing innovative mid-IR sensor solutions for applications in industrial process monitoring, predictive maintenance, and medical diagnosis. Growing demand for precision temperature monitoring and gas detection across industries like oil & gas, manufacturing, healthcare is driving the market growth. Mid-IR sensors enable non-contact temperature measurement and detecting slight variations in gases concentration important for various industrial processes. Asia Pacific region is witnessing fastest Mid-IR Sensors Market Growth attributed to expanding manufacturing sector and increasing investments in process automation across China, India, and other Southeast Asian countries. Key players are expanding their operations in Asia Pacific to leverage growth opportunities in the region. Market Key Trends Development of MEMS-based mid-IR sensor arrays is a key trend seen in the market. MEMS technology is enabling development of compact and mass producible mid-IR sensor arrays with several sensing elements integrated on a single chip. This is allowing multi-point temperature measurement and chemical imaging capabilities important for various emerging applications.
Porter’s Analysis Threat of new entrants: Mid-IR Sensors Market Size and Trends requires high initial investments for R&D , which limits the threat of new entrants. Bargaining power of buyers: buyers have moderate bargaining power due to availability of substitutes however standardized products limit their options. Bargaining power of suppliers: suppliers have low to moderate bargaining power due to availability of alternative component suppliers and integrate technology. Threat of new substitutes: threat from new substitutes is low as mid-IR sensors have distinct performance advantages over alternatives however visible light and Near IR continue to make progress. Competitive rivalry: market dominated by few top players however entry barriers are relatively low encouraging competition. The North America region currently holds the highest share in the mid-IR sensors market in terms of value due to wide usage of mid-IR sensors in gas spectroscopy and thermal imaging applications. The presence of major players and adoption of latest technologies also support the market growth. The Asia Pacific region is expected to be the fastest growing regional market for mid-IR sensors during the forecast period due to surge in manufacturing and adoption of mid-IR sensors in industrial, gas and healthcare applications. Countries like China and Japan are major manufacturing hubs boosting the demand.
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Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. (https://www.linkedin.com/in/ravina-pandya-1a3984191)
