Thermal Imaging Market Worth 10.27 Billion USD by 2021

Sep 02, 2016, 12:30 ET from MarketsandMarkets

PUNE, India, September 2, 2016 /PRNewswire/ --

According to a new market research report " Thermal Imaging Market by Component (Hardware, Software, Services), Application (Surveillance, Threat Detection, Radiology, Automotive, and Others), End User (Military & Defense and Industrial, Commercial & Residential), and Region - Global Forecast to 2021", published by MarketsandMarkets, the market size is estimated to grow from USD 7.71 Billion in 2016 to USD 10.27 Billion by 2021, at a Compound Annual Growth Rate (CAGR) of 5.9%.

     (Logo: http://photos.prnewswire.com/prnh/20160303/792302 )

Browse 65 market data Tables and 53 Figures spread through 162 Pages and in-depth TOC on "Thermal Imaging Market"

http://www.marketsandmarkets.com/Market-Reports/thermal-imaging-market-1300.html
Early buyers will receive 10% customization on this report.

The Thermal Imaging Market is witnessing a rising demand due to declining prices of thermal cameras. The substantial growth in the Thermal Imaging Market can be credited to the increasing need of thermal cameras in all commercial applications, such as surveillance, automotive, consumer electronics, and thermography, among others.

Surveillance application segment is expected to show positive trends during the forecast period 

The surveillance application segment is expected to dominate the market from 2016 to 2021. Thermal imaging cameras are primarily deployed by military and defense for border patrolling and border security. These cameras are being increasingly used for surveillance in airborne, maritime, and land systems.  Furthermore, automotive application segment is expected to gain traction in the next five years. The increasing use of thermal cameras in the automotive sector to reduce the risks in driving, especially during the night, is one of the major reasons for the growth of Thermal Imaging Market in this application.

Industrial, Commercial, and Residential segment to grow at the highest rate during the forecast period 

The industrial, commercial, and residential segment is expected to grow at a rapid rate from 2016 to 2021 in the Thermal Imaging Market. The high growth rate can be attributed to the rapid adoption of thermal cameras for commercial applications such as healthcare, transportation, education and many others. The military and defense segment is expected to contribute the largest market share in the Thermal Imaging Market in 2016 owing to its application in border patrolling and intrusion prevention.

Ask for Sample Pages @ http://www.marketsandmarkets.com/requestsample.asp?id=1300

North America is expected to contribute the largest market share during the forecast period 

North America is expected to have the largest market share and dominate the Thermal Imaging Market from 2016 to 2021, due to increasing adoption of thermal imaging products and services by organizations in this region for applications such as surveillance, threat detection, automotive, predictive maintenance, and others. Asia-Pacific (APAC) offers potential growth opportunities due to the rise in technology penetration and high defense spending, and presence of a large number of Small and Medium Enterprises (SMEs), which are the acquisition targets of the larger players in the U.S.

The major vendors in the Thermal Imaging Market are FLIR Systems, Inc. (Wilsonville, Oregon, U.S.), Fluke Corporation (Washington, U.S.), Bae Systems (London, U.K.), L-3 Communications Holdings, Inc. (New York, U.S.), DRS Technologies, Inc. (Arlington, Virginia, U.S.), Axis Communications (Lund, Sweden), Honeywell International, Inc. (New Jersey, U.S.), Raytheon Company (Waltham, Massachusetts, U.S.), Thermoteknix Systems Ltd. (Cambridge, U.K.), and Testo AG (Lenzkirch, Germany). The report also includes key innovators in the market, such as ICI Infrared Cameras, Inc. (Texas, U.S.), Lockheed Martin (Maryland, U.S.), Nippon Avionics Co. Ltd. (Tokyo, Japan), and Sofradir Group (PALAISEAU, France).

Browse Related Report 

3D Imaging Market by Display Technology (Anaglyphy, Stereoscopy, Auto-stereoscopy), Imaging Solution (3D Modeling, 3D Scanning), Hardware (3D Display, 3D Sensor), Industry Vertical, & Region - Global Forecast to 2020

http://www.marketsandmarkets.com/Market-Reports/3d-imaging-market-998.html

Diagnostic Imaging Market by Product (X-ray Imaging Systems, CT Scanners (High-end, Mid-end & Low-end Slice CT), MRI Systems, Ultrasound Imaging Systems, Nuclear Imaging Systems), Region (North America, Europe, Asia-Pacific, RoW) - Global Forecast to 2020

http://www.marketsandmarkets.com/Market-Reports/diagnostic-imaging-market-411.html

Know More About our Knowledge Store @ http://www.marketsandmarkets.com/Knowledgestore.asp

About MarketsandMarkets  

MarketsandMarkets is the largest market research firm worldwide in terms of annually published premium market research reports. Serving 1700 global fortune enterprises with more than 1200 premium studies in a year, M&M is catering to a multitude of clients across 8 different industrial verticals. We specialize in consulting assignments and business research across high growth markets, cutting edge technologies and newer applications. Our 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the "Growth Engagement Model - GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors.

M&M's flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets. The new included chapters on Methodology and Benchmarking presented with high quality analytical infographics in our reports gives complete visibility of how the numbers have been arrived and defend the accuracy of the numbers.

We at MarketsandMarkets are inspired to help our clients grow by providing apt business insight with our huge market intelligence repository.

Contact:
Mr. Rohan
Markets and Markets
UNIT no 802, Tower no. 7, SEZ
Magarpatta city, Hadapsar
Pune, Maharashtra 411013, India
1-888-600-6441
Email: sales@marketsandmarkets.com

Visit MarketsandMarkets Blog @ http://www.marketsandmarketsblog.com/market-reports/telecom-it
Connect us on LinkedIn @ http://www.linkedin.com/company/marketsandmarkets

SOURCE MarketsandMarkets