The Infrared Imaging market was estimated at USD$ 6.43 billion in 2015, and is anticipated to reach USD$ 9.58 billion by 2020, expanding at a CAGR of 8.3% between 2016 and 2020. Based on spectral range, the market can be segmented into Short Wave Infrared (SWIR) imaging, Medium Wave Infrared (MWIR) imaging, Long Wave Infrared (LWIR) imaging, and Far Wave Infrared (FWIR) imaging. Reduction in LWIR camera prices is expected to have a positive bearing on the penetration of the technology in security, surveillance, and automotive markets. The technology plays an important part in providing night-vision option in automobiles.

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