Global thermal imaging market was valued at USD 3,192.5 million in 2012 and is expected to grow at a CAGR of 9.76% from 2013 to 2019. Thermal imaging devices find widespread applications in surveillance and security, maintenance and monitoring, traffic monitoring, automobiles, healthcare, research and development and others (firefighting and personal vision).
The market is sub-segmented on basis of applications, end-users and geography. Among the applications segments, the surveillance and security segment dominated the thermal imaging market in 2012. This was due to increased investments on modernization the armed forces by countries such as China, Japan and India and others. Among the end user segments, commercial and industrial sectors are the fastest growing segments with collective revenue share of 49.6% in 2012. This growth is attributed by the rising adoption of thermal imaging devices in these sectors due to their decreasing cost.
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Among the various end-user segments, defense and military is the largest sector and accounted for 45.04% of market revenue share in 2012. The defense and military sector is expected to dominate the market over forecast period due to the increasing investment by various countries such as China, U.K, Russia and India for upgrade and modernization of armed forces. Thermal imaging devices are widely used in applications such as surveillance and security, maintenance and monitoring, traffic monitoring, healthcare, automobile, research and development, and others (firefighting and personal vision).
Surveillance & security and maintenance & monitoring applications are emerging as promising applications for thermal imaging devices. These two segments together accounted for 44.7% of market revenue share in 2012. Demand for surveillance and security is supported by the need to enhance border and commercial security. Commercial security includes security of airports, ports, estates and warehouse.
Geographically, North America is expected to remain largest market for thermal imaging due to the growth in industrial and commercial sector in the country. North America is anticipated to dominate this market throughout the forecast period due to the increasing use of thermal imaging devices for law enforcement activities. Europe would be the next largest market followed by Asia-Pacific. Countries in Europe and Asia-Pacific are increasing their defense spending, which is expected to drive thermal imaging market in these regions.
This 72 page report gives readers a comprehensive overview of the Thermal Imaging Market. Browse through Table. Browse through 30 figures and 13 data tables to unlock the hidden opportunities in this market.
Global thermal imaging market was dominated by few existing players in 2012. Renowned players such as FLIR Systems Inc., DRS Technologies Inc., Raytheon Company and BAE Systems Inc. led the global market, and collectively accounted for around 75% of the market in 2012. These players have well-developed resources and network to meet industry demand and to retain pace with the changing technology. In order to increase their market share, key players are reducing their product prices, which is further increasing the competition among the manufacturers.
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This report analyzes the global thermal imaging market in terms of revenue (USD million). The market has been segmented as follows:
Market Segmentation of Global Thermal Imaging Market:
Thermal Imaging Market, by Applications:
Surveillance and security
Maintenance and monitoring
Traffic monitoring
Healthcare
Automobile
Research and development
Others (firefighting and personal vision)
Thermal Imaging Market, by End-users:
Defense and military sector
Industrial sector
Commercial sector
Residential sector
Thermal Imaging Market, by Geography:
North America
Europe
Asia Pacific
RoW (Rest of the World)
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