According to a new market report published by Credence
Research, Inc. “Thermal Imaging Market By
Type (Hardware, Software, Service), By Application (Surveillance and Security,
Monitoring and Maintenance, Automobile, Veterinary, Radiology, Other
Applications), By End User (Defense and Military, Industrial Sector, Commercial
Sector, Residential Sector) – Growth, Share, Opportunities & Competitive
Analysis, 2016 – 2023”, the global thermal imaging market is expected to
exhibit a CAGR of over 9% from 2016 to 2023.
Browse the Thermal Imaging Market By
Type (Hardware, Software, Service), By Application (Surveillance and Security,
Monitoring and Maintenance, Automobile, Veterinary, Radiology, Other
Applications), By End User (Defense and Military, Industrial Sector, Commercial
Sector, Residential Sector) – Growth, Share, Opportunities & Competitive
Analysis, 2016 – 2023 report at http://www.credenceresearch.com/report/thermal-imaging-market
Market Insights
Decades ago, application of thermal
imaging technology was highly restricted to defense and military, however, with
advancements in technology it is finding new applications in threat detection,
veterinary and residential & commercial security. This, in turn, is
boosting growth of the thermal imaging market across the globe. Additionally,
rising spending by defense and military, especially in developing regions, on
up gradation of existing arms is increasing the uptake of thermal imaging
technology in the sector. Further, integration of thermal imaging technology in
electronic devices is support growth of the market. However, budgetary cuts by
defense in developed region is impeding the adoption of thermal imaging
cameras. As a result, growth of the thermal imaging market in few developed
countries is expected below.
Competitive Insights:
Major vendors in the thermal imaging
market concentrates on investing substantial amount on research and development
activities to introduce technologically advanced and cost-effective products to
meet customer demand and to differentiate themselves form competitors. Also,
strategic partnerships and acquisitions are other major strategies followed by
key players to enter untapped market and enhance geographical presence. Major
players operating in the global thermal imaging market are FLIR System, BAE
Systems Inc., Axis Communications AB, Danaher Corporation, DRS Technologies
Inc., Raytheon Company, L-3 Communications Holdings, Inc., Testo AG, Honeywell
International, Inc., and Fluke Corporation.
·
Introduction of advanced thermal
imaging cameras
·
Growing integration of thermal
imaging technology in electronic devices
·
Surge in acquisition & mergers to
assist market growth
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Thermal Imaging Market, Growth Analysis, and Forecast To 2022 – by Credence Research
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