Infrared Sensors Market Recorded 4.80% Y-O-Y Growth Rate in 2021

The infrared sensors market size is set to grow by USD 178.26 million from 2020 to 2025, progressing at a CAGR of 7.23% according to the latest market report by Technavio.

Technavio categorizes the infrared sensors market as part of the global electronic components market. The research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the infrared sensors market during the forecast period.

 The infrared sensors market is fragmented and the vendors are deploying growth strategies such as organic and inorganic growth strategies to compete in the market. ams AG, Excelitas Technologies Corp., Hamamatsu Photonics KK, Honeywell International Inc., Lynred, Murata Manufacturing Co. Ltd., OMRON Corp., Raytheon Technologies Corp., Teledyne Technologies Inc., and Texas Instruments Inc. are some of the major market participants.