Industrial Equipment

Thermal Imaging Market by Application (Surveillance & Security, Medical Applications, Monitoring, Research & Development, and Others), End Users (Military & Defense Sector, Industrial Sector, Commercial Sector, Government Sector, and Residential Sector), and Region – Global Industry Analysis, Size and Forecast, 2019-2031

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Thermal Imaging Market Introduction

Decades ago thermal imaging technology was only limited to military & defense applications; however, with ongoing technological advancements thermal imaging technology has expanded its use cases in commercial and industrial sectors applications. Thermal imaging is a night vision technology that enhances object’s visibility in dark environment through infrared radiation detection emitted by an object thus creating a visible pattern of the object. Devices-equipped with thermal imaging technology can detect objects through smoke and fog—without the need for any ambient light—and create real-time images of moving objects.

 

Market Dynamics

Widening application area of thermal imaging devices from military & defense to commercial application is driving the growth of the thermal imaging devices market. In addition, increase in spending by military & defense, especially in developing regions on up-gradation of armed forces is expected to fuel the growth of the thermal imaging market over the forecast period. However, the decline in military expenditure on the modernization of weapons and other equipment in developed countries such as the U.S., Canada, and Italy is anticipated to hamper the growth of thermal imaging devices market in developed regions.

 

Market Trends

Key vendors in the market are inclined towards introducing high-resolution thermal imaging cameras to expand its use cases, especially in long-distance remote monitoring and surveillance. In addition, ongoing technological advancements have led to the development of micro-bolometers, this, in turn, is increasing the commercialization of thermal imagers across various major applications.

 

Market Scope

The global thermal imaging devices market is segmented by application and end-user. By application, the global thermal imaging market has been segmented into surveillance & security, monitoring, medical applications, research & development and other applications. The end-user segment includes government sector, military & defense sector, industrial sector, commercial sector and residential sector.

 

Regional Outlook

Key regions covered in the thermal imaging market are North America, Latin America, Western Europe, Eastern Europe, Asia Pacific and Middle East & Africa (MEA). Of these regions, North America dominated the market with the largest revenue share of the overall thermal imaging devices market revenue, followed by Western Europe in 2014. However, the thermal imaging devices market in Asia Pacific is expected to exhibit a significant CAGR during the forecast period.

Thermal Imaging Market Competitive Landscape

Key players operating in the global thermal imaging devices market focus on strategic partnership and introducing innovative thermal imaging devices to outperform competitors. Major players analyzed in the global thermal imaging market are FLIR Systems Inc., BAE System Inc., Axis Communications AB, Danaher Corporation, DRS Technologies Inc., Raytheon Company and L-3 Communications Holdings Inc.

 

Major Regions/Countries include:
  • North America
    • United States
    • Canada
  • Western Europe
    • Germany
    • United Kingdom
    • Spain
    • France
    • Italy
    • Rest of Western Europe
  • Eastern Europe
    • Russia
    • Poland
    • Rest of Eastern Europe
  • Asia Pacific (APAC)
    • Japan
    • China
    • India
    • ASEAN
    • Australia
    • Rest of Asia-Pacific
  • Latin America
    • Brazil
    • Mexico
    • Argentina
    • Rest of Latin America
  • Middle East and Africa (MEA)
    • GCC
    • North Africa
    • South Africa
    • Rest of MEA

 

This research report on thermal imaging market would be produced using first-hand market information gathered from industry experts and major participants across the value chain, during primary research. It would provide broad view of current market trends, growth factors and competitive analysis.

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