The global Thermal Imaging Camera Market is forecast to reach USD 6.01 Billion by 2030, according to a new report by Reports and Data. The growth of Thermal Imaging Camera in various end-use industries is driving market demand. An increase in terrorist activities has impacted government and non-government’s revenue to a great extent. Increasing terrorism, instability, geopolitical tension, and cross border terrorism is driving market demand. The investment in the defense system for the modernization of military equipment is also encouraging the growth of the market. Thermal Imaging Camera helps armed forces to protect borders during nightfall and extreme weather.
The growth of the market also depends on the advancement of medical technologies. Several growth opportunities and adoption of the latest advanced technologies in the sector is providing ample growth opportunity for the market. Several areas, such as digital research and construction management, involve the usage of Thermal Imaging Camera technologies. It is crucial for construction planners to study energy losses, moisture inspections, and building envelope inspection.
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Further key findings from the report suggest
- Thermal cameras allow people to see invisible heat radiation emitted by any objects irrespective of lighting conditions. Some of the benefits of Thermal Imaging Camera are protection for major businesses across the country and to protect against intruders.
- The segment for monitoring and detection is expected to dominate the market share and is accredited to the rising adoption of thermal cameras in residential, industrial, and commercial sectors. The thermal cameras are used in several historical monuments, buildings, and industrial equipment. Moreover, these cameras are in major demand from the structural health of buildings.
- The aerospace and defense sector held a significant share in the industry. The demand is due to the ability of the product to work in all weather conditions irrespective of the time. They are used in surveillance of the border, in ship collision avoidance, law enforcement, and structural health monitoring of aircraft. They also help soldiers locate and identify their enemies.
- The Asia Pacific’s market is growing due to the rise in the adoption of the automotive sector and the increase in population. The surge in population is creating a need for high-quality and enhanced transportation in the region. Automotive manufacturers are improving designs and integrating advanced technology such as Light Detection and Ranging (LiDAR) for better driving assistance.
Top 10 Companies Operating in the Global Thermal Imaging Camera Market:
Fluke Corporation, United Technologies, FLIR Systems, Inc., Leonardo S.p.A, Axis Communications AB, L3HARRIS Technologies, Inc., Axis Communications AB, Opgal, Xenics, and BAE Systems, among others.
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The global market is further segmented into type and application:
Product Type Outlook (Revenue, USD Billion; 2019–2030)
- Thermal Cameras
- Thermal Scopes
- Thermal Modules
Wavelength Outlook (Revenue, USD Billion; 2019–2030)
- Short Wavelength Infrared (SWIR)
- Middle Wavelength Infrared (MWIR)
- Long Wavelength Infrared (LWIR)
Application Outlook (Revenue, USD Billion; 2019–2030)
- Security and Surveillance
- Monitoring and Inspection
- Detection and Measurement
End-use Outlook (Revenue, USD Billion; 2019–2030)
- Construction
- Manufacturing
- Automotive
- Aerospace and Defense
- Oil and Gas
- Healthcare and Life science
- Food and Beverage
Regional analysis provides insights into key trends and demands in each major country that can affect market growth in the region.
- North America (U.S., Canada, Mexico)
- Europe (Germany, U.K., Italy, France, BENELUX, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Rest of APAC)
- Latin America (Brazil, Rest of LATAM)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Key Takeaways of the Competitive Overview Section:
- Overview of the company profiles of each market player
- Industrial chain analysis of each player
- Revenue share contribution
- Sales network and distribution channels and net profits and losses of each company
- Key business growth strategies are undertaken by these players
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