Infrared Imaging Software Market to record USD 467.05 Million; Evolving Opportunities with Axis Communications AB and BAE Systems Plc -- Technavio

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Oct 05, 2022, 16:00 ET

NEW YORK, Oct. 5, 2022 /PRNewswire/ -- The global infrared imaging software market size is expected to grow by USD 467.05 million, accelerating at a CAGR of 7.57% between 2020 and 2025. The market structure is fragmented with the presence of several small-scale and large-scale vendors. The vendors are focusing on offering additional features and functionalities in package solutions to gain a competitive advantage over their rivals. During the forecast period, the competition in the market is expected to intensify with an increase in product extensions, technological innovations, and mergers and acquisitions. Gain actionable insights and make informed decisions. Download PDF Sample Report

Technavio has announced its latest market research report titled Global Infrared Imaging Software Market 2021-2025

The market is driven by the increasing adoption of video surveillance. The adoption of surveillance cameras has increased over recent years. This can be attributed to increased government spending on surveillance equipment. Surveillance cameras are also finding applications in the retail industry. End-users in the retail industry are increasingly adopting surveillance cameras to control the inflow and outflow of products. Thus, the increasing adoption of video surveillance cameras is expected to drive the growth of the market during the forecast period.

In addition, the advent of infrared imaging in mobile phones is anticipated to further boost the growth of the infrared imaging software market. However, the growth potential in the market is expected to reduce due to intense competition among vendors.

Major Vendors in Infrared Imaging Software Market:

Axis Communications AB: The company offers a range of thermal cameras such as thermal modular cameras and AXIS Q86 PT thermal network cameras.
BAE Systems Plc: The company offers thermal camera cores such as MIR640 and TWV640.
Fortive Corp.: The company offers Infrared Imaging Software services under the brand Fluke.
Honeywell International Inc.: The company offers different thermal cameras like thermal ball, modum, thermal bullet, and high res thermal bullet.
L3Harris Technologies Inc.: The company offers a wide area Long Range Surveillance Sensor a highly sensitive infrared camera designed for long-range surveillance and security applications.
Leonardo Spa
Raytheon Technologies Corp.
Teledyne Technologies Inc.
Testo SE and Co. KGaA
Thermoteknix Systems Ltd.

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Infrared Imaging Software Market End-user Outlook (Revenue, USD Million, 2020-2025)

Government sector - size and forecast 2020-2025
Commercial sector - size and forecast 2020-2025

The government sector is the prime end-user in the market. The increasing use of surveillance cameras in aerospace and astronomy applications is driving the segment. The segment is also driven by increased government spending on the military sector for procuring advanced devices and products for executing effective and efficient military operations.

Infrared Imaging Software Market Application Outlook (Revenue, USD Million, 2020-2025)

Surveillance - size and forecast 2020-2025
Security - size and forecast 2020-2025
Automation maintenance - size and forecast 2020-2025
Automotive - size and forecast 2020-2025
Others - size and forecast 2020-2025

The surveillance segment will have the largest share of the market. The growing adoption and installation of surveillance systems to ensure facility protection, operations monitoring, loss prevention, and employee safety at workplaces is driving the growth of the segment.

Infrared Imaging Software Market Geography Outlook (Revenue, USD Million, 2020-2025)

North America - size and forecast 2020-2025
Europe - size and forecast 2020-2025
APAC - size and forecast 2020-2025
South America - size and forecast 2020-2025
MEA - size and forecast 2020-2025

37% of the market growth will come from North America during the forecast period. Factors such as increasing penetration of vendors in countries such as Canada and Mexico and rising awareness among end-users are driving the growth of the regional market. The increasing aging population in the country and the rising healthcare spending by the US government will also foster the growth of the infrared imaging software market in North America.

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Related Reports:

Infrared Imaging Software Market Scope
Report Coverage	Details
Page number	120
Base year	2020
Forecast period	2021-2025
Growth momentum & CAGR	Accelerate at a CAGR of 7.57%
Market growth 2021-2025	USD 467.05 million
Market structure	Fragmented
YoY growth (%)	5.32
Regional analysis	North America, Europe, APAC, South America, and MEA
Performing market contribution	North America at 37%
Key consumer countries	US, China, Germany, UK, France, and Japan
Competitive landscape	Leading companies, competitive strategies, consumer engagement scope
Companies profiled	Axis Communications AB, BAE Systems Plc, Fortive Corp., Honeywell International Inc., L3Harris Technologies Inc., Leonardo Spa, Raytheon Technologies Corp., Teledyne Technologies Inc., Testo SE and Co. KGaA, and Thermoteknix Systems Ltd.
Market Dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, and market condition analysis for the forecast period.
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Table of contents:

Executive Summary

Market Landscape

Market ecosystem
Value chain analysis

Market Sizing

Market definition
Market segment analysis
Market size 2020
Market outlook: Forecast for 2020 - 2025

Five Forces Analysis

Five forces summary
Bargaining power of buyers
Bargaining power of suppliers
Threat of new entrants
Threat of substitutes
Threat of rivalry
Market condition

Market Segmentation by Application

Market segments
Comparison by Application
Surveillance - Market size and forecast 2020-2025
Security - Market size and forecast 2020-2025
Automation maintenance - Market size and forecast 2020-2025
Automotive - Market size and forecast 2020-2025
Others - Market size and forecast 2020-2025
Market opportunity by Application

Market Segmentation by End-user

Market segments
Comparison by End user
Government sector - Market size and forecast 2020-2025
Commercial sector - Market size and forecast 2020-2025
Market opportunity by End user

Customer landscape

Geographic Landscape

Geographic segmentation
Geographic comparison
North America - Market size and forecast 2020-2025
Europe - Market size and forecast 2020-2025
APAC - Market size and forecast 2020-2025
South America - Market size and forecast 2020-2025
MEA - Market size and forecast 2020-2025
Key leading countries
Market opportunity by geography
Market drivers
Market challenges
Market trends

Vendor Landscape

Overview
Landscape disruption

Vendor Analysis

Vendors covered
Market positioning of vendors
Axis Communications AB
BAE Systems Plc
Fortive Corp.
Honeywell International Inc.
L3Harris Technologies Inc.
Leonardo Spa
Raytheon Technologies Corp.
Teledyne Technologies Inc.
Testo SE and Co. KGaA
Thermoteknix Systems Ltd.

Appendix

Scope of the report
Currency conversion rates for US$
Research methodology
List of abbreviations

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

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SOURCE Infiniti Research, Inc.