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Global Thermal Imaging Market Poised to Grow
June 15, 2015 | Business WireEstimated reading time: 1 minute
Research and Markets has announced the addition of the "Thermal Imaging Market by Solutions, by Applications, by End-User - Global Forecast to 2020" report to their offering.
Thermal imaging is a technique used to produce an electronic image by detecting IR energy emitted by objects in difficult conditions such as night, smoke and fog. Thermal imagers/cameras are capable of detecting temperature differences in IR range and converting it into electronic image in a form of color palette. This report describes the global thermal imaging market by solution, application, end user type, and region.
Thermal imaging cameras/sensors are used across various ranges of industries including defense, automotive, aerospace, industrial, medical, and many more. They are widely used for different number of applications such as surveillance, threat detection, commercial and residential security, firefighting, R&D, veterinary, and more. The geographic analysis includes the classification of solutions, applications and end-user segmentation into North America, Europe, APAC, MEA, and Latin America.
North America is expected to be the largest contributor of the regional market share, with Asia-Pacific showing tremendous growth potential in future. The market is dominated by military and defense segment. In the coming years, commercial and industrial segment is expected to show huge growth in the market due to boost in worldwide demand. Increasing demands of imagers/sensors, growth in competition, and price reduction are few strong drivers for the industry. The customer value proposition includes cost reduction, wide range of products and services, superior customer service, and global deployment.
In addition, the market players are investing about 10% of their annual turnover into R&D to upgrade the technologies and develop new products for thermal imaging. FLIR Systems launched world's first thermal imaging camera for iPhone in 2014; Raytheon won Prism 2015 award for lightweight thermal camera plug-in for smartphones; and Axis Communications launched first temperature-based alarm camera in 2015 for remote monitoring of critical equipment. These are few of the recent technology innovation examples in the thermal imaging market.
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