The global image intensifier market is expected to reach USD 1,320 million by 2024 from USD 912 million in 2019 at a CAGR of 7.66%
NEW YORK, March 21, 2019 /PRNewswire/ -- Image intensifier market to grow at 8.24% CAGR from 2018 to 2024
The global image intensifier market is expected to reach USD 1,320 million by 2024 from USD 912 million in 2019 at a CAGR of 7.66%. Image intensifiers are extensively used for increasing illumination of weak light in various applications. The increasing military expenditure worldwide and the growing demand for medical diagnostic systems with better visibility play a significant role in the growth of the image intensifier market. Low operational hours of image intensifier devices and increasing use of refurbished devices restrain the growth of this market. Further, the advantages of flat-panel detectors over image intensifiers pose a major challenge for the growth of the market players.
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X-ray detectors to hold largest share of image intensifier market during forecast period
The image intensifiers are widely used in X-ray detectors and are cheaper than advanced flat-panel systems.Moreover, the repair and maintenance cost of image intensifier C-arms embedded in X-ray detectors is lower than the flat panel display (FPD) C-arms.
Moreover, this cost can be typically five-times less than their technologically advanced counterparts. Low price and maintenance cost of these C-arms is driving the growth of the market for the image intensifiers meant for X-ray detectors.
<18-mm image intensifier market to grow at highest CAGR from 2018 to 2023>The image intensifiers with 18 mm diameter dominate the market for defense and surveillance sector. However, with the introduction of the image intensifier tubes with 16 mm diameter, the adoption for 16-mm image intensifiers has increased as they are compact and lighter in weight than the devices with 18 mm diameter.
APAC to witness highest growth in overall market during forecast period
The highest CAGR of the market in APAC is attributed to the increased investments in the development of new and advanced equipment integrated with image intensifiers by countries such as China and India to strengthen their defense capabilities and ensure better homeland security.Moreover, the increasing incidences of cross-border conflicts in many countries of this region are also leading to the increased procurement of image intensifiers.
As a result, the market for image intensifier is quite competitive in APAC.
Break-up of the profiles of primary participants is as follows:
• By Company Type: Tier 1 – 55%, Tier 2 – 25%, and Tier 3 – 20%
• By Designation: Directors – 50%, Manager-20, Vice President- 25 and Others – 5%
• By Region: North America – 40%, Europe – 35%, APAC – 15%, and RoW – 10%
Harris Corporation (US), L3 technologies (US), Thales Group (France), Siemens AG (Germany), Canon Medical Systems (Japan), PHOTONIS Technologies SAS (France), FLIR Systems (Armasight) (US), Alpha optics systems Inc (Canada), JSC Katod (Russia), Photek Limited (UK), Argus Imaging BV (Netherlands) are a several of the players operating in the image intensifier ecosystem.
Research Coverage:
This research report segments the global image intensifier market based on offering, monitoring process, deployment, industry, and geography.The report discusses major drivers, restraints, challenges, and opportunities pertaining to the image intensifier market and also includes value chain analysis of this industry.
The study also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.
Key Benefits of Buying Report
The report would help market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall image intensifier market and the subsegments.It is also likely to help stakeholders understand the competitive landscape and gain more insights to better position their businesses as well as to plan suitable go-to-market strategies.
The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.
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