The technique of improving visibility and clarity of objects even in dark by identifying an object or a picture using infrared light is termed as thermal imaging. Emergence of thermal imaging has helped companies reduce their down time. Companies no longer would have to shut down their operational systems even during thermal audit. Thermal imaging aids companies save lot money by helping them detect faulty components at the early stage itself. Besides this, the technique is completely non-invasive and involves zero physical contact. Thus, there is no damage caused to the devices subjected to thermal surveys.
In recent times, a gradual decrease in the cost of thermal cameras has been driving the market. Moreover, the deployment of thermal cameras in devices including CCTV camera, and smart phones among others would also contribute to the development of the industry further and increase the adoption rate. However, lack of awareness and low adoption rate in certain segment acts as a major hindrance in the progress of this industry. Due to its capability of identifying temperature differences, the application of thermal imaging camera in a range of sectors such as aerospace, automotive, military and other would create greater opportunities.
There market is segmented in terms of solution, applications, industry as well as regions. In terms of solution, the market is segmented into hardware, software and services. The major applications of the thermal imaging market covered in the report consists of surveillance, surveys, personal vision, firefighting, commercial and residential security and others. The end customers served by the industry consists of military and defense, and commercial users. Regions served by the industry consist of North America, APAC, Europe, and LAMEA.
The thermal imaging brands today are seen investing generously in research and development. Besides focusing on product development, major enterprises are eyeing local companies, when it comes to acquisition. Many companies have also decided to expand their product portfolio or service offerings. Thus, joint venture, mergers and acquisitions and market entry strategies are some of the key business strategies keeping the brands competitive. Some of prominent vendors include Testo AG, Flir systems, Axis communications, BAE systems, Danaher Corporation, DRS technologies, Infrared Imaging Services LLC., Thermoteknix Systems Ltd., SATIR and Gratton Infrared Services.
KEY BENEFITS FOR STAKEHOLDERS
THERMAL IMAGING MARKET KEY SEGMENTS
Thermal Imaging Market By Solution
Thermal Imaging Market By Application
Thermal Imaging Market By Industry
Thermal Imaging Market By Geography