A new report published by Allied Market Research, titled, "Infrared Detector Market by Type, Spectral Range and Application—Global Opportunity Analysis and Industry Forecast, 2014–2022," projects that the global infrared detector market is expected to reach $466 million by 2022 with a CAGR of 9.7% from 2016-2022. In the year 2014, North America dominated the market and contributed more than 33% share of the overall market revenue followed by Asia-Pacific. The presence of key market players in U.S. and Asia-Pacific, rapid industrialization, primarily in manufacturing sectors, rise in demand for better security and monitoring systems, increased application of infrared detectors in residential & consumer electronics sector and increase in government initiatives in aerospace & defense sector have fueled the infrared detector market growth. However, high cost and limited accuracy in harsh conditions could restrict the market growth.