Thermal imaging market is expected to grow at 9.1% CAGR from 2014 to 2020 “Global thermal imaging market is poised to reach USD 6.50 billion by 2020. In addition to increasing demand in industrial and commercial sectors, thermal imaging devices are also used across several security and surveillance applications” Global thermal imaging market is poised to reach USD 6.50 billion by 2020. Increasing demand for low-cost devices owing to its widespread applications. Commercialized thermal imagers resulting from the development of microbolometers expected to augment the growth of the market over the forecast period. In addition to increasing demand in industrial and commercial sectors, thermal imaging devices are also used across several security and surveillance applications. Moreover, increasing adoption of integrated solutions across commercial applications would further fuel the growth of the industry. Furthermore, the use of thermal imaging in highresolution camera and smartphone is expected to bolster further the growth of the industry. Follow Us: Detailed Research Report available at: http://www.grandviewresearch.com/industry-analysis/thermal-imaging-market Thermal Imaging application in commercial segment is also poised to experience growth over the next few years. Growth can be attributed to increasing the use of thermal imaging devices across various applications such as surveillance and security, thermography and transportation systems. Further key findings from the report suggest: Defense & Military was the dominant application segment in 2013 and accounted for over 40% of thermal imaging market during the same period. The thermal camera is used extensively by ground forces in the military to improve situational awareness. However, decreasing defense spending in developed markets would prove to be a restraining factor for the growth over the projected period. North America was the largest regional market in 2013 and accounted for over 30% of the market. Growing industrial and commercial sectors are expected to fuel the market growth over the forecast period. The extensive use of thermal imaging sensors in security products and rising demand for safety and surveillance applications is expected to drive demand in Europe. Asia Pacific is also expected to witness significant growth owing to rising defense budget. The thermal imaging market is highly competitive and is characterized by cost minimization strategies by key industry players. The companies emphasize on continuous innovation and R&D to outpace the competition. In the industry, there is a high degree of integration between the manufacturers and suppliers. Manufacturers focus on global deployment, technological innovation, and unique products to cater to growing demand. Furthermore, increasing focus on scaling Follow Us: production which leads to reduced product cost due to economies of scale is expected to propel demand over the next few years. Key players in the industry include BAE Systems Inc., FLIR Systems Inc., Raytheon Company, and DRS Technologies Inc. Optimizing manufacturing throughput along with greater product reliability through vertical integration of production activities is expected to be a key growth driver. Read our blog on semiconductors & electronics industry: http://www.grandviewresearch.com/blogs/semiconductors-and-electronics Table of content of global thermal imaging market research report: Chapter 1 Executive Summary 1.1 Thermal Imaging - Industry Summary & Critical Success Factors (CSFs) Chapter 2 Thermal Imaging Industry Outlook 2.1 Market Segmentation 2.2 Market Size and Growth Prospects 2.3 Thermal Imaging Value Chain Analysis 2.4 Thermal Imaging Market Dynamics 2.4.1 Key Driver Analysis 2.4.1.1 Availability of cost-effective devices 2.4.1.2 Diverse applications Follow Us: 2.4.2 Key Restraint Analysis 2.4.2.1 Reduced defense budget in developed regions 2.5 Key Opportunities Prioritized 2.6 Industry Analysis - Porter's 2.7 Thermal Imaging - Key Company Analysis, 2013 2.8 Thermal Imaging - PESTEL Analysis Chapter 3 Thermal Imaging Application Outlook 3.1 Military & Defense 3.1.1 Global market estimates and forecasts, by region, 2012 - 2020 (USD Million) 3.2 Commercial 3.2.1 Global market estimates and forecasts, by region, 2012 - 2020 (USD Million) 3.3 Residential 3.3.1 Global market estimates and forecasts, by region, 2012 - 2020 (USD Million) 3.4 Industrial 3.4.1 Global market estimates and forecasts, by region, 2012 - 2020 (USD Million) Follow Us: Chapter 4 Thermal Imaging Regional Outlook 4.1 North America 4.1.1 Thermal imaging market by application, 2012 - 2020 (USD Million) 4.2 Europe 4.2.1 Thermal imaging market by application, 2012 - 2020 (USD Million) 4.3 Asia Pacific 4.3.1 Thermal imaging market by application, 2012 - 2020 (USD Million) 4.4 RoW 4.4.1 Thermal imaging market by application, 2012 - 2020 (USD Million) Chapter 5 Thermal Imaging Competitive landscape 5.1 Axis Communications 5.1.1 Company Overview 5.1.2 Financial Performance 5.1.3 Product Benchmarking 5.1.4 Strategic Initiatives 5.2 BAE Systems Inc. 5.2.1 Company Overview Follow Us: 5.2.2 Financial Performance 5.2.3 Product Benchmarking 5.2.4 Strategic Initiatives 5.3 DRS Technologies Inc. 5.3.1 Company Overview 5.3.2 Financial Performance 5.3.3 Product Benchmarking 5.3.4 Strategic Initiatives 5.4 FLIR Systems Inc. 5.4.1 Company Overview 5.4.2 Financial Performance 5.4.3 Product Benchmarking 5.4.4 Strategic Initiatives 5.5 Honeywell 5.5.1 Company Overview 5.5.2 Financial Performance 5.5.3 Product Benchmarking Follow Us: 5.5.4 Strategic Initiatives 5.6 Lockheed Martin 5.6.1 Company Overview 5.6.2 Financial Performance 5.6.3 Product Benchmarking 5.6.4 Strategic Initiatives 5.7 Raytheon Company 5.7.1 Company Overview 5.7.2 Financial Performance 5.7.3 Product Benchmarking 5.7.4 Strategic Initiatives 5.8 Safran, Nippon Avionic 5.8.1 Company Overview 5.8.2 Financial Performance 5.8.3 Product Benchmarking 5.8.4 Strategic Initiatives 5.9 Sofradir EC, Inc Follow Us: 5.9.1 Company Overview 5.9.2 Financial Performance 5.9.3 Product Benchmarking 5.9.4 Strategic Initiatives 5.10 Testo AG 5.10.1 Company Overview 5.10.2 Financial Performance 5.10.3 Product Benchmarking 5.10.4 Strategic Initiatives 5.11 Thermoteknix Systems Ltd, 5.11.1 Company Overview 5.11.2 Financial Performance 5.11.3 Product Benchmarking 5.11.4 Strategic Initiatives 5.12 Ulis 5.12.1 Company Overview 5.12.2 Financial Performance Follow Us: 5.12.3 Product Benchmarking 5.12.4 Strategic Initiatives Chapter 6 Methodology and Scope 6.1 Research Methodology 6.2 Research Scope & Assumption 6.3 List of Data Sources About Grand View Research, Inc.: Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy. Contact: Sherry James Corporate Sales Specialist, USA Grand View Research, Inc Phone: 1-415- 349-0058 Toll Free: 1-888- 202-9519 Email: [email protected] Web – http://www.grandviewresearch.com/ Follow Us:
Global thermal imaging market is poised to reach USD 6.50 billion by 2020. Increasing demand for low-cost devices owing to its widespread applications. Commercialized thermal imagers resulting from the development of microbolometers expected to augment the growth of the market over the forecast period. Click here - http://www.grandviewresearch.com/industry-analysis/thermal-imaging-market
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