Global Thermal Imaging Market To Expand At A CAGR Of Over 9% From 2016 To 2023
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 – Growth, Share, Opportunities & Competitive Analysis, 2016 – 2023 report at https://www.credenceresearch.com/report/thermal-imaging-market
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.
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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.
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- Introduction of advanced thermal imaging cameras
- Growing integration of thermal imaging technology in electronic devices
- Surge in acquisition & mergers to assist market growth
- Global Thermal Imaging Market Analysis
3.1. Global Thermal Imaging Market Overview
3.2. Market Inclination Insights
3.2.1. Recent Trends
3.2.2. Future Outlook
3.3. Market Dynamics
3.3.1. Market Drivers
3.3.2. Market Challenges
3.4. Attractive Investment Proposition
3.5. Market Positioning of Key Industry Participants
3.6. Major Strategies Adopted
- Global Thermal Imaging Market Revenue, By Type, 2014 – 2023 (US$ Mn)
4.1. Comparative Analysis
- Global Thermal Imaging Market Revenue, By Application, 2014 – 2023 (US$ Mn)
5.1. Comparative Analysis
5.1.1. Surveillance and Security
5.1.2. Monitoring and Maintenance
5.1.6. Other Applications (Firefighting, Personal Vision etc.)
- Global Thermal Imaging Market Revenue, By End User, 2014 – 2023 (US$ Mn)
6.1. Comparative Analysis
6.1.1. Defense and Military
6.1.2. Industrial Sector
6.1.3. Commercial Sector
6.1.4. Residential Sector
- Global Thermal Imaging Market Revenue, By Geography, 2014 – 2023 (US$ Mn)
7.1. Comparative Analysis
7.1.1. North America
7.1.3. Asia Pacific
7.1.4. Rest of the World