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 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 defense in developed region is impeding the
adoption of thermal imaging cameras. As a result, growth of the
thermal imaging market in few developed countries is expected below.
Competitive Insights:
Major vendors in the thermal imaging market
concentrates 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 form competitors. Also, strategic partnerships and
acquisitions are other major strategies followed by key players to
enter 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.
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Introduction of advanced thermal imaging cameras
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Growing integration of thermal imaging technology in electronic devices
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Surge in acquisition & mergers to assist market growth
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