Thermal imaging market revenue is estimated to be $XX Billion in 2019 and shall grow with a CAGR of XX.X% during the forecast period of 2019 to 2026.
Thermal imaging is a useful technique to navigate in dark environments. It relies on the principle of detecting Infra-red radiation instead of the usual visible radiation. This enables it to detect objects at night or in dark environments.
Analysis by Product
The four product types are Portable, Fixed, Scopes and Vision goggles. Of these, the portables are gaining popularity fast. The healthcare industry is warming up to portables as they enable superior diagnostics. Medical professionals are more receptive to them as diagnostics is a key activity before any procedures ensue on the patient. A well-done diagnostics helps them minimize patient expenses and thereby increase their credibility. This segment is going to see a breakthrough increase in market capitalization in the forecasted period.
Analysis by Technology
Thermal imaging devices are either cooled or uncooled. The former is a very specialized form of thermal imaging setup. It needs to be integrated with cryogenic coolers as a basic requirement. The trade-off is its jaw-dropping image quality even in extremely poor lighting conditions and obstacles. It appeals to a few select businesses where security concerns form the top priority. These include Airports, Fuel pipelines, Nuclear power plants, and Military establishments. The nature of work in these industries is so sensitive that they pay a premium in buying and maintaining cooled thermal imaging cameras. This is a perennial demand and will present excellent growth opportunities for the manufacturers in this industry.
Analysis by End-use
The major categories here are Automotive, Commercial, Government and Defense, Healthcare & Life-science, Industrial and Residential. The automotive OEMs are building a strong accord with these systems as they are highly useful in their industry. These include quality checks on airbags, HVAC system ratings, and Heat impact on tires. Moreover, their customers are getting access to superior driving conditions as a result of thermal imaging in-built into the cars. This aids driving in the night.
Analysis by Application
Detection applications have emerged as a strong market for these systems. A competitive price and improving availability will enhance the demand for these systems. Certain Industrial applications require temperature monitoring in their manufacturing process. This has the potential for unhindered growth of these cameras. Additionally, the commercial applications are also cozying up to the capabilities of these thermal cameras. Residential security upgrades are on the rise and they will drive product sales at a healthy pace.
Analysis by Region
A lion’s share of the market is expected to be served by the European Union. In this region, special mention of Germany and Russia is on the cards. The main focus will be on the residential segment. This is because of the customer demand for “Smart Homes”. A vastly varying number of automation and security features are being in-built to homes. The easy availability of high-speed internet connections will also assist in large revenues for Thermal Imaging cameras in this region.
Analysis by Market
Major players include 3M Scott, Axis Communications, Raytheon, L3 Technologies and Fluke Corporation. This is a very specialized product and thus only the most qualified professionals are found operating. Innovations are hard-work and almost all major players have committed funds towards modernizing their product and service offering. The product demand is concentrated with a few types of clients but the margins are through the roof owing to the uniqueness of the solution and scarcity of specialized human resources. This augurs very well for the expected product growth across the industry. Other industries in this domain that are growing at a high CAGR include Medical Imaging Market and Machine translation Market.
COVERAGE HIGHLIGHTS
● Market Revenue Estimation and Forecast (2019 – 2026)
● Market Production Estimation and Forecast (2019 – 2026)
● Market Sales/Consumption Volume Estimation and Forecast (2019 – 2026)
● Breakdown of Revenue by Segments (2019 – 2026)
● Breakdown of Production by Segments (2019 – 2026)
● Breakdown of Sales Volume by Segments (2019 – 2026)
● Gross Margin and Profitability Analysis of Companies
● Business Trend and Expansion Analysis
● Import and Export Analysis
● Regional Analysis and Market Data Breakdown
MARKET SEGMENTATION
By Product Outlook ($Revenue and Unit Sales, 2019-2026)
• Handheld/Portable Cameras
• Fixed/Mounted Cores
• Scopes and Vision Goggles
By Technology Type Outlook ($Revenue and Unit Sales, 2019-2026)
• Cooled
• Uncooled
By End-use Outlook ($Revenue and Unit Sales, 2019-2026)
• Automotive
• Commercial
• Government & Defense
• Healthcare & Lifesciences
• Industrial
• Residential
• Others
By Application Outlook ($Revenue and Unit Sales, 2019-2026)
• Detection & Measurement
• Monitoring & Inspection
• Personal Vision Systems
• Search & Rescue
• Security & Surveillance
By Regional Outlook ($Revenue and Unit Sales, 2019-2026)
• USA
• Canada
• Germany
• UK
• Germany
• France
• Spain
• Italy
• Russia
• China
• India
• Japan
• South Korea
• Malaysia
• Australia
• Brazil
• Mexico
• South Africa
• Saudi Arabia
• UAE
• Israel
Market Players
• M Scott Fire & Safety,
• American Technologies Networking Corporation,
• Allied Vision Technologies GmbH,
• Avon Protection Systems, Inc.,
• Axis Communications Ab,
• BAE Systems,
• Cox,
• Dragerwerk AG & Co. KGaA,
• FLIR Systems, Inc.,
• Fluke Corporation,
• General Starlight Company, Inc.,
• L3 Technologies,
• Leonardo DRS,
• Magnity Electronics Co. Ltd.,
• Opgal Optronic Industries Ltd.,
• Palmer Wahl Instrumentation Group,
• Raytheon Company,
• Seek Thermal, Inc.,
• Testo SE & Co. KGaA,
• Thermoteknix Systems,
• Tonbo Imaging,
• ULIS,
• Wuhan Guide Infrared Co. Ltd.,
• Xenics NV,
• Zhejiang Dali Technology Co. Ltd
