Thermography Systems Market: Business Growth, Development Factors, Application a

Posted by surendra choudhary on May 6th, 2019

Thermography refers to the procedure of detecting infrared radiation by using a thermal imager. Thermography systems enable users to ensure normal operations by locating abnormal pattern of heat radiations that are invisible to the human eyes. These radiations may cause faults and reduce the efficiencies of the assets being used in the company. Various thermography software are available in the Thermography Systems Market that are compatible with infrared cameras and have unique evaluative functions, such as temperature monitoring, contrast analysis, and emissivity calculations. Therefore, a total integrated thermography system, including cameras and software, provides a complete solution to end-users to monitor, detect, and take preventive measures with respect to thermal radiation.

The tremendous value of thermography systems is emerging presently, as it coincides with better solutions for monitoring the changes in the heat emissions coupled with ability of taking preventive measures in time of emergency. Thermography is a useful method of analysis in various industrial applications, such as detecting, monitoring, and predicting irregularities in the field, owing to its properties of being completely non-invasive and contactless.

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The global thermography systems market can be segmented based on component, enterprise size, industry vertical, application, and region. In terms of component, the thermography systems market can be classified into hardware, software, and services. The hardware segment can be further bifurcated into active thermography and passive thermography. The hardware segment is expected to account for a notable share of the market. Furthermore, the services segment can be further sub-segmented into professional and managed. The professional services sub-segment can be further split into consulting, integration & implementation, and maintenance & operation.

Based on enterprise size, the thermography systems market can be divided into small enterprises, medium enterprises and large enterprises. The large enterprises segment is projected to hold a major share of the market during the forecast period due to the increase in R&D budgets and spending on ICT spending by large enterprises. In terms of industry vertical, the global thermography systems market can be segregated into aerospace, automotive, chemical, electronics/electrical, healthcare, metallurgy, and others. The others segment includes glass and plastic industries. In terms of application, the market can be bifurcated into soldier portable vision, military vehicle vision, thermographic printing, mechanical assemblies’ inspection, security, aerial thermography applications, and others.

Based on region, the global thermography systems market can be split into North America, Europe, Middle East & Africa, Asia Pacific, and South America. North America is expected to account for a major share of the global thermography systems market during the forecast period. Furthermore, increase in healthcare spending in countries in Europe is expected to propel the market in the region. For instance, according to the World Bank, public expenditure on healthcare is expected to rise significantly from 8% of GDP in 2010 to about 14% of GDP by 2030. Rising industrialization in Asia Pacific is driving the market in the region. Countries such as China, Japan, South Korea, and India are significant contributors to the expansion of the market in Asia Pacific. Rise in the number of enterprises in Middle East & Africa and South America is expected to drive the thermography systems market in these regions.

Key players operating in the global thermography systems market include Flir Systems Inc., Drs Technologies, Raytheon Company, L-3 Communications Holdings Inc., BAE Systems, Danaher Corporation, Elbit Systems Ltd., Honeywell Aerospace, Thales Group, and Lockheed Martin. Introducing innovative products at unique price is a key strategy being adopted by major players operating in the global thermography systems market. This would help the companies to increase their customer base and introduce new revenue stream, thus strengthening their position in the global market. Companies are also focusing on strategic partnerships and acquisitions in order to expand their product portfolio and technical expertise in the market.