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Global Infrared Sensors Market to Reach $761.9 Million by 2027
In the changed post COVID-19 business landscape, the global market for Infrared Sensors estimated at US$505 Million in the year 2020, is projected to reach a revised size of US$761.9 Million by 2027, growing at a CAGR of 6.1% over the analysis period 2020-2027. Pyroelectric, one of the segments analyzed in the report, is projected to record a 6.9% CAGR and reach US$310.9 Million by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Thermopile segment is readjusted to a revised 5.6% CAGR for the next 7-year period.

The U.S. Market is Estimated at $136.7 Million, While China is Forecast to Grow at 9.2% CAGR
The Infrared Sensors market in the U.S. is estimated at US$136.7 Million in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$163.6 Million by the year 2027 trailing a CAGR of 9.3% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.3% and 5.4% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 3.8% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$102.7 Million by the year 2027.

Microbolometers Segment to Record 6% CAGR
In the global Microbolometers segment, USA, Canada, Japan, China and Europe will drive the 6% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$60.6 Million in the year 2020 will reach a projected size of US$88 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Latin America will expand at a 7.2% CAGR through the analysis period.