Growing Adoption In Automotive Industry Is Expected To Boost The Growth Of The Global Thermal Imaging Market During The Forecast Period

Thermal Imaging Market - Global Industry Analysis and Forecast 2021 to 2027

Global Thermal Imaging Market: Key Highlights

  • The thermal imaging market is majorly segmented into wavelength, product, technology, application, and end-user
  • On the basis of wavelength, the market is sub-segmented into Short-Wave Infrared (SWIR), Mid-Wave Infrared (MWIR), and Long-Wave Infrared (LWIR).  The Long-Wave Infrared (LWIR) is excepted to account for the larger share in the anticipated period, with the growing demand for thermal products operation in LWIR wavelength in food & beverages, automotive and medical for monitoring
  • On the basis of region, the market is segmented into the Americas, Europe, Asia-Pacific, and Middle East & Africa
  • Americas accounted for the major market share with the rising adoption of infrared imaging products by the organizations for the applications, such as surveillance, threat detection, automotive, and predictive maintenance in the region
  • Top players that account for the major share include Axis Communications AB, BAE Systems, FLIR Systems, Inc., Fluke Corporation, L3Harris Technologies, Inc., Leonardo S.p.A., Opgal Optronic Industries Ltd, Testo SE & Co. KGaA, Thermoteknix Systems Ltd, Xenics nv and among others.

Thermal Imaging Market

Global Thermal Imaging Market: Key Market Dynamics

  • There have been rising applications in the military sector lead to play a significant role in the thermal imaging market. As the growing investment by the defense sector on the surveillance and thermal imaging systems lead to creating a positive impact on the market growth
  • The growing adoption in the automotive industry is also lead to enhance the demand of the thermal imaging market growth
  • Further, growing spending by government and defense activities is a significant opportunity for market growth
  • However, stringent export and import regulations are hindering the growth of the market.

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Global Thermal Imaging Market: Regional Overview

  • Americas:
    • Americas region is further divided into North America and Latin America. Globally, the Americas accounted for the major market share
    • The present of the companies in the region such as FLIR System, On January 2018 has announced the availability of Thermal Vision Automotive Development Kit featuring the high-performance FLIR Boson thermal camera for automakers, tier-one automotive parts suppliers, and advanced driver assistance innovators systems (ADAS)
    • Moreover, the rising adoption of infrared imaging products and services by organizations for surveillance, threat detection, automotive, and predictive maintenance, also creates major opportunities for market growth in the region.
  • Asia-Pacific
  • Asia-Pacific region is segmented into five major countries including China, Japan, India, Australia, and South Korea
  • The growing awareness of thermal imaging products are likely to fuel the market growth across countries like China, and India owing to its detection, monitoring, inspection features in the security and surveillance domains
  • Moreover, the region also leads to creates potential opportunities with the growing technological advancement as well as the rising defense spending. Hence, this factor is projected to create a major driver for the growth of the market in the forecast period.

Global Thermal Imaging Market: Key Players

Some of the key players operating in the market are Axis Communications AB, BAE Systems, FLIR Systems, Inc., Fluke Corporation, L3Harris Technologies, Inc., Leonardo S.p.A., Opgal Optronic Industries Ltd, Testo SE & Co. KGaA, Thermoteknix Systems Ltd, Xenics nv and among others.

Global Thermal Imaging Market: Key Developments

  • In December 2019, Fluke Corporation launched Fluke TiS60+, a thermal imaging camera for inspection and analysis applications. The product is suited for commercial, HVAC (Heating, ventilation, air conditioning, and refrigeration), and maintenance technicians
  • In October 2019, Leonardo DRS received a contract from the US army to supply advanced thermal imagery technology (TS III) for the army’s remote combat vehicle weapon stations.
  • In December 2019, FLIR Systems, Inc. launched 3 new pan-tilt-zoom (PTZ) security cameras, namely, FLIR Elara DX-Series, FLIR Saros DM-Series, and e FLIR Quasar 4K IR PTZ. The cameras provide long- and short-range perimeter protection in all conditions. Owing to this, the company expanded its security camera product offerings.

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Rep Id : SC 0133

Published : 2020-11-12