Thermal Imaging Market with Market Size, Share and Forecast 2017-2025

Posted by Robson Tolson on November 15th, 2017

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 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 the 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 a defense in the developed region is impeding the adoption of thermal imaging cameras. As a result, the growth of the thermal imaging market in few developed countries is expected below.

Competitive Insights:

Major vendors in the thermal imaging market concentrate 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 from competitors. Also, strategic partnerships and acquisitions are other major strategies followed by key players to enter the 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

By Component:

• Software
• Services
• Hardware

By Application:

• Radiology
• Intelligent transportation system
• Commercial and residential security
• Personal vision
• Firefighting
• Research and development
• Automotive
• Veterinary
• Surveillance (airborne, maritime, land)
• Threat detection
• Surveys
• Predictive maintenance
• Others

By End User:

• Military and defense
• Industrial, commercial, and residential

About: 
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