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Global Thermal Imaging Market 21018-2023 - Focus on Aerospace & Defense, Industrial, Healthcare & Life Sciences Industries - ResearchAndMarkets.com

September 27, 2018

DUBLIN--(BUSINESS WIRE)--Sep 27, 2018--The “Thermal Imaging Market by Type (Cameras, Modules, Scopes), Application (Security & Surveillance, Monitoring & Inspection, Detection), Vertical (Aerospace & Defense, Industrial, Healthcare & Life Sciences), and Geography - Global Forecast to 2023” report has been added to ResearchAndMarkets.com’s offering.

The thermal imaging market was valued at USD 2.72 billion in 2017 and is expected to reach USD 4.04 billion by 2023, at a CAGR of 6.73% during the forecast period.

North America is likely to continue to lead the thermal imaging market; it accounted for the largest share of the global thermal imaging market in 2017. Growing demand for smartphone-based devices and the increasing adoption of thermal imaging in commercial and home automation are driving the growth of the thermal imaging market in the region.

Owing to the presence of thermal imaging product manufacturers, such as FLIR Systems (US), Fortive (US), United Technologies (US), IRCameras (US), Photon etc. (Canada), and L3 Technologies (US), and R&D centers in the region, demand for thermal imaging is high in North America.

These players have adopted various strategies, such as product developments, acquisitions, partnerships, collaborations, and agreements, to achieve growth in the thermal imaging market.

However, export restrictions and additional detailing required for longwave infrared cameras restrain the market growth.

Market Dynamics

Drivers

Reduction in Price of Thermal Imaging Products Increasing Adoption of Thermal Imaging in Perimeter Security Penetration in Machine Vision-Based Applications

Restraints

Export Restrictions Longwave Infrared Cameras Require Additional Cameras for Better Detailing

Opportunities

Thermal Imaging Technology in ADAS Miniaturization of Camera Cores to Penetrate New Application Areas

Challenges

Lack of Awareness About Benefits of Thermographic Inspection

Companies Mentioned

Allied Vision Axis Communications Bae Systems C-Thermal COX Calumino Dali Technology Flir Systems Fortive Corporation Ircamera LLC L3 Technologies Leonardo Opgal Optronic Industries Limited Seek Thermal Sofradir Testo SE Thermoteknix Systems Tonbo United Technologies Xenics

For more information about this report visit https://www.researchandmarkets.com/research/2djvl4/global_thermal?w=4

View source version on businesswire.com:https://www.businesswire.com/news/home/20180927005282/en/

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SOURCE: Research and Markets

Copyright Business Wire 2018.

PUB: 09/27/2018 03:23 AM/DISC: 09/27/2018 03:23 AM

http://www.businesswire.com/news/home/20180927005282/en

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