The infrared detector market was estimated at USD 489.15 million in 2022 and is likely to grow at a CAGR of 6.76% during 2023-2028 to reach US$ 724.52 million in 2028.
Market Drivers:
The following are the key drivers of the global market-
Increasing demand for security and surveillance systems: The increasing demand for security and surveillance systems is a key driver of the infrared detector market. The increasing demand for security and surveillance systems is being driven by several factors, including.
Rising crime rates: Crime rates have been rising in many parts of the world, which is leading to an increased demand for security and surveillance systems.
Growing security concerns: People are becoming increasingly concerned about their safety and security, which is leading them to invest in security and surveillance systems for their homes, businesses, and other properties.