The global infrared imaging market is estimated to cross $9.772.49m by 2024 growing at CAGR 7.88% du
Posted: Jan 24, 2019
According to the new market research report by IndustryARC titled "Infrared Imaging Market": By Technology (Cooled, Uncooled); By Component (IR Lens, Sensor, IR Detector & Others); By Wavelength (SWIR, MWIR and LWIR); By Application (Consumer Electronics, Aerospace, Automotive & Others) & By Geography-Forecast (2018-2024) ", the market size is accounted for $9.7 billion in 2024 by growing at a CAGR of 7.88% during the forecast period.
Conventional infrared imaging system market comprises of 80% market share and is expected to witness the highest growth during the forecast period i.e. 2018 to 2024. In terms of security, thermal imaging is gaining huge traction from different industry verticals such as defense, firefighting, automotive, aerospace among others; this is mainly because of its capability to improve the visibility in dark environment. According to IndustryARC analysis, Thermal imaging technology will play a vital role in driving infrared imaging market.
America continues to lead the market share during 2018-2024.
The Asia Pacific has witnessed significant growth in the Infrared Imaging market, with a share of 29% in 2017 and is projected to reach$31.56billion by 2024 due to the increasing adoption of infrared imaging devices, owing to the growing safety concerns of employees as well as enterprise infrastructure from hazards. The estimation for North American region will gain significant market shares.e. 35% by the end of 2024. The market is seen to be increasing due to higher adoption of surveillance activities, accident investigation, locating evidence and for tactical teams in the military.A large share of revenue comes from defense and electronics, whereas other industries are increasingly adopting these systems in various end-user industries such as oil & gas, mining, and production plants, as new applications are being developed.
Selected Application Analysis was done in the full Report:
Uncooled infrared imaging technology in the application segment is anticipated to dominate the market, owing to its less expensive feature and long duration of operation compared to cooled IR technology. The surveillance segment is expected to be dominant among all the applications, due to the growing demand for high security at home, Industries etc.
In medical treatments,near-infrared imaging market has indicated future growth. This is attributed to the continuous advancement in the near infrared imaging devices along with the detection of cancer and its characterization, as well as the increasing rate of cancer patients. Whereas, factors such as high cost of infrared detectors and high availability of other imaging techniques restrains the growth of the market.
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Excerpts on Market Growth factors:
- Technological innovations have a high impact on the capabilities of machine vision. Advanced interferences with high bandwidth, high-resolution cameras, and cameras capable of capturing images at a high rate and comprising of image sensors, and software create opportunities and allow machine vision companies toenter emerging applications.
- Adoption of point of care devices will grow in niche areas such as pharmacology, oncology, among others. In addition, this segment is expected to witness lot of new entries from life science companies. Life science companies will employ collaboration as a key strategy before entering the market.
- Recent work progress in different imaging modalities needs to be merged together, increasing the comfort level of patients and doctors as it does not require repositioning and speeds up the entire imaging process. In addition, this technology has the advantage of reducing patient costs, and scans can be conducted in one sitting rather than multiple sessions.
- Increasing demand for IR imaging products for surveillance applications across various applicationsincludingdatacenter security, office buildings, production/manufacturing site for security purposes, is estimated to drive the IR imaging market for long term perspective.
Key players of Infrared Imaging Market:
Complete analysis and profiles of major market players such as FLIR Systems Inc., Fluke Corporation, Sofradir Group, and others are included in this report. In addition, the report also includes players from industrial and non-industrial verticals.
Companies cited and interviewed:
- NOVADAQ Technologies Inc.
- Xenics L-3 Communication Holding,
- Inc.Bosch Security Systems, Inc.
- General Dynamics Corporation
- Opgal Optronics Industries Ltd
- Bruker Corporation
- DRS Technologies, Inc.
Infrared Imaging MarketReport is segmented as indicated below.
Infrared Imaging Market By Technology
Infrared Imaging Market By Component
- IR Lens System
- IR Detector
Infrared Imaging Market By Wavelength
Infrared Imaging Market By Application
- Consumer Electronics
- Aerospace & Defence
Infrared Imaging MarketBy Geography ( Covers 15+ Countries )
Infrared Imaging MarketEntropy
Appendix: Abbreviations, Sources, Research Methodology, Bibliography, Compilation of Experts, Disclaimer.
What can you expect from the report?
The Infrared Imaging MarketReport is Prepared with the Main Agenda to Cover the following 20 points:
- Market Size by Product Categories
- Market trends
- Manufacturer Landscape
- Distributor Landscape
- Pricing Analysis
- Top 10 End user Analysis
- Product Benchmarking
- Product Developments
- Mergers & Acquisition Analysis
- Patent Analysis
- Demand Analysis ( By Revenue & Volume )
- Country level Analysis (15+)
- Competitor Analysis
- Market Shares Analysis
- Value Chain Analysis
- Supply Chain Analysis
- Strategic Analysis
- Current & Future Market Landscape Analysis
- Opportunity Analysis
- Revenue and Volume Analysis
Frequently Asked Questions (FAQ):
Does IndustryARC publish country, geography or application based reports in Infrared Imaging Market?
Yes, we do have separate reports as mentioned below:
- America Infrared Imaging Market(2018-2023)
- Europe Infrared Imaging Market(2018-2023)
- Asia Pacific Infrared Imaging Market(2018-2023)
- Middle East and African Infrared Imaging Market(2018-2023)
- Consumer Electronics Infrared Imaging Market(2018-2023)
- Aerospace and DefenceInfrared Imaging Market(2018-2023)
- AutomotiveInfrared Imaging Market(2018-2023)
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Yes, we can customize the report by extracting data from our database of reports and annual subscription databases. We can provide the following free customization:
- Increase the level of data in application or end user industry.
- Increase the number of countries in the geography chapter.
- Find out market shares for other smaller companies or companies which are of interest to you.
- Company profiles can be requested based on your interest.
- Patent analysis, pricing, product analysis, product benchmarking, value and supply chain analysis can be requested for a country or end use segment.
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IndustryArc is a Research and Consulting Firm that publishes more than 500 reports annually, in various industries such as Agriculture, Automotive, Automation & Instrumentation