Global Thermal Imaging Systems Market - By Solutions (Hardware, Software, Services), Applications, End Users (Military and Defense, Commercial Purpose), Form Factor (Handheld Imaging Devices and Systems, Fixed Mounted), Geography, Trends, Forecast - (2017 - 2022)

Published - Jan 2017 | Category - Electronics & Semiconductor | No. of Pages - 127 | Published By - Mordor Intelligence

Report Highlights

The global thermal Imaging Systems market was valued at USD 7.59 billion in 2016 and is expected to reach a value of USD 10.84 billion by the end of 2022, growing at a projected CAGR of 6.12% during the forecast period of 2017 - 2022.

We are living in an ever evolving world. New technologies are being developed, while old ones are being relegated. The changing consumer preferences and innovations are increasing. The line which used to separate different industries is becoming blurred with technology being modified for different entities across the industries.

Internet, radar and jet engines were some of the technological innovations created specifically for the military. But, the same technologies are now being used for commercial or personal purposes.

Thermal imaging is one such technology which found its origin in military applications and is now being used across different industry verticals. Thermal Imaging is changing the world with the applications ranging from military to personal handheld cameras and smartphones. Though it has multiple uses, some of the uses related to saving lives have been game changers. These systems have now become compact and are easy to use and generate high-resolution images. With some of the major players like Flir, Bae Systems, L-3 Communications are already present in the thermal imaging systems market. New startups like Bounce Imaging are challenging the existing players with their innovative products.

Companies such as Flir and Vummi have introduced smartphones with thermal imaging capability. Day is not far when this technology will be in use everywhere with handheld devices taking over complex thermal imaging systems.

DRIVERS

The factors driving the thermal imaging systems market are:

Low cost of solutions

Increasing usage across the industries

Its low impact on the environment.

Integrating the thermal imaging technology with the smartphones is also a major contributor to this market given the growing smartphones market.

RESTRAINTS

The declining cost of solutions and users demanding cheaper products

The market is heading towards extensive competition on price.

Companies are striving hard to introduce low cost devices with maximum features.

The other factors restraining this market are the declining military market as its applications are mostly prominent in the military market and the lack of regular support services might also hinder the progress of the thermal imaging systems market.

WHAT THE REPORT OFFERS

Global thermal imaging systems market overview with information on drivers and restraints

In-depth global thermal imaging systems market analysis and its applications in the industry

Identification of factors responsible for changing the market scenarios, rising prospective opportunities and identification of key companies which can influence the market on global and regional scale

Extensively researched competitive landscape with profiles of major companies along with their market shares

A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information
 

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