Global Thermal Imaging Market is expected to reach USD 4.56 Billion by 2024 from USD 2.74 Billion in 2016 at a CAGR of 6.6% (Detailed analysis of the market CAGR is provided in the report).
The global thermal imaging market based on type is segmented into cameras, scopes and modules. Modules segment is expected to grow at a high rate during the forecast period. Thermal imaging modules has led by high adoption due to their low cost, compactness and flexibility to integrate with various devices. Based on application, the security and surveillance segment is expected to grow at a high rate during the forecast period. This is due to the wide use of thermal cameras for surveillance during night time and other low-light conditions by border control professionals. Based on vertical, aerospace & defense segment holds largest share of the market during the forecast period. It plays major role in the aerospace & defense industry in measurement of temperature of hazardous environments. Geographically, the Thermal Imaging market has been segmented into North America, Europe, Asia Pacific, Middle East & Africa and Latin America. North America is expected to be largest market for thermal imaging market during the forecast period. This is due to the presence of major players, increasing demand for smartphone-based devices and the rising adoption of thermal imaging in commercial and home automation in this region. The years that have been considered for the study are: • Base year – 2016 • Estimated year – 2017 • Forecast period – 2017 to 2024 Key Highlights: • Global Thermal Imaging market analysis and forecast, in terms of volume and value. • Comprehensive study and analysis of market drivers, restraints and opportunities influencing the growth of the Global Thermal Imaging Market. • Global Thermal Imaging market segmentation on the basis of type, application, vertical and geography (country-wise) has been provided. • Global Thermal Imaging market strategic analysis with respect to individual growth trends, future prospects along with contribution of various sub-market stakeholders have been considered under the scope of study. • Global Thermal Imaging market analysis and forecast for five major regions namely North America, Europe, Asia Pacific, the Middle East & Africa (MEA) and Latin America along with country-wise segmentation. • Profiles of key industry players, their strategic perspective, market positioning and analysis of core competencies are further profiled. • Competitive developments, investments, strategic expansion and competitive landscape of the key players operating in the global Thermal Imaging market are also profiled. Research Methodology: Bloomberg, Hoovers, Factiva are some of the sites that are being referred to gain insights about global Thermal Imaging market. Experts from top manufacturing companies along with other stakeholders have been considered. This is done to validate and collect critical information for evaluating trends related to this market during the forecast period. Top-down and bottom-up approaches have been used to estimate the global and regional size of this market. Data triangulation techniques along with other comparative analysis are also used to calculate the exact size of the global Thermal Imaging market globally. Global Thermal Imaging marketplace is growing with the presence of major companies holding a large market share.
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