Thermal Imaging Market – Industry Analysis, Size, Share, Growth, Trends and Forecast to 2027
January 14, 2022
Thermal Imaging- a remarkable development in the field of surveillance and securityNEW JERSEY, UNITED STATES, January 14, 2022 /EINPresswire.com/ -- Description
New Research Study "Thermal Imaging Market 2022 analysis by Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges and Investment Opportunities), Size, Share and Outlook" has been added to Coherent Market insight
The global Thermal Imaging was accounted for US$ 1,978.7 Mn in terms of value in 2019 and is expected to grow at CAGR of 9.7% for the period 2020-2027.
Thermal imaging is a technology used for the collection of digital images of any given location or surface by the use of infrared radiation. This technology is majorly used for law enforcement, mining, environmental monitoring, security, and industrial and defense applications. Thermal imaging provides higher quality images and more information about the surfaces. Thermal imaging cameras are used for different purposes. For instance, they are used for security purposes as well as environmental monitoring purposes.
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Growing demand for thermal imaging from various sectors such as automotive, government & defense, and healthcare to improve security is driving the market growth of thermal imaging. Rising terrorist activities due to geopolitical tension and the need for monitoring critical infrastructure is again uplifting the market growth. Moreover, increasing up-gradation of military equipment due to growing spending by government is expected to have a positive outlook on the market of thermal imaging. According to the sipri fact sheet, global military expenditure was $1917 billion in 2019, an increase of 3.6 percent from 2018. Total military spending accounted for 2.2 percent of global gross domestic product (GDP) in 2019.
This report includes information on the industry's market growth as well as key segmentation variables that help the global Thermal Imaging Market prosper in today's environment. The report also emphasises the importance of regional classification in the global Thermal Imaging Market. Due to growing demand, the worldwide Thermal Imaging Market will eventually create more revenue and have a higher market size than the previous projected period.
Major Key players in this Market:
· FLIR Systems Inc. (FLIR)
· Raytheon Company
· BAE Systems Inc.
· L-3 Communications Holdings Inc.
· Axis Communications AB
· Danaher Corporation
· DRS Technologies Inc.
Drivers & Trends
The report has included a comprehensive analysis of different factors that fuel the growth of the Thermal Imaging market. It includes growth potential, drivers, restraints, industry-specific challenges and risks, and opportunities that transform the market in a negative or positive way. Every factor has been evaluated in detail to offer a complete accurate grasp of the market.
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The Thermal Imaging market report sheds light on the analysis as well as market forecast on the regional and also the global level. Delving deep into the report, it also covers the various growth opportunities and recent trends across five regions, including the Asia Pacific (APAC), North America, Latin America, Europe, and the Middle East & Africa (MEA). An in-depth study has been carried out covering every region with regard to the prevalent trends, outlook, and different opportunities that are likely to impact the market positively in the long run. The report also offers the most up to date information related to the technological developments and growth prospects based on the regional landscape.
Method of Research
The report provides first-hand information performed by key players using quantitative & qualitative assessment as per the parameters of the Porter’s Five Force Model. It throws light on the macro-economic indicators, parent market trends, and growth factors. Primary (surveys, interviews, and questionnaires) & secondary researches (SEC filings, white paper references, and published reports) have been carried out to provide a better understanding of the market. The data used in the report has passed multi-step verification to assure both the authenticity as well as the quality of the insight that is provided. Bottom-up & top-down approaches are also used for ensuring the credibility of the valuations and market segments.
· In May 2020, FLIR Systems has announced the launch of new thermal imaging science Kits: FLIR A400 and A700 for researchers, engineers, and systems testers. These smart camera systems can produce accurate, consistent thermal data for electronics testing, product development, and a range of scientific research needs
· In May 2020, Seek Thermal, a provider of high-performance thermal imaging products, has introduced Seek Scan™, a simple, low-cost thermal imaging system designed to automate body temperature screening using skin temperature as a proxy.
· In June 2018, Thales has launched Sophie Ultima, a thermal imager designed to give tactical superiority through collaborative and augmented imaging capability at night and by the day
· In May 2020, Vodafone UK, partnered with Digital Barriers to launch a heat detection camera during the coronavirus pandemic. The heat detection camera combines thermal imaging and Vodafone’s IoT connectivity to screen the temperature of people as they enter buildings.
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