Thermal Camera Market to Hit ,642.8 Million by 2027; The global thermal camera market size is projected to reach USD 3,642.8 million by 2027, exhibiting a CAGR of 8.6% during the forecast period. Urgent need for speedy body temperature check in people during the coronavirus pandemic is expected to propel market growth, observes Fortune Business Insights™ in its latest report, titled “Thermal Camera Market Size, Share and COVID-19 Impact Analysis, By Product (Handheld, Mounted, and Scopes and Goggles), By Technology (Cooled, Uncooled), By Application (Monitoring and Inspection, Security and Surveillance, Detection and Measurement, Search and Rescue Operations), By End-use (Military and Defense, Industrial, Commercial, Healthcare and Life Sciences, Residential, Automotive, and Oil and Gas) and Regional Forecast, 2020 – 2027”. Thermal cameras can facilitate quick detection of fever by comparing a person’s body heat with that of the immediate surroundings, whilst maintaining the required physical distance. Elevated temperature can be a sign of COVID-19-induced fever and the person can be sent for an instant checkup. Companies and government authorities are extensively utilizing these cameras as preliminary tests to determine if an individual is a carrier of the infection. For example, Amazon has installed these cameras across its warehouses around the globe to screen its employees for COVID-19 symptoms. Thus, the outbreak of the coronavirus pandemic has surged the demand for thermal cameras worldwide as countries grapple to contain the spread of the infection.
List of Companies Profiled in this Market Report:
- Thermoteknix Systems Ltd.
- Sierra-Olympic Systems, Inc.
- SATIR
- New Imaging Technologies (NIT)
- Leonardo S.p.A.
- InView Technology Corporation
- FLIR Systems, Inc.
- Synectics plc
- Seek Thermal
- Princeton Infrared Technologies, Inc.
- Lynred
- IRCameras LLC
- InfraTec GmbH Infrarotsensorik und Messtechnik
- Axis Communications AB
Click here to for a more detailed short-term and long-term impact analysis of COVID-19 on this thermal camera market.
Please Visit @ https://www.marketwatch.com/press-release/thermal-camera-market-update-in-2020-by-industry-size-share-and-global-demand-by-2026-2020-06-29
The report states that the value of the market stood at USD 1,888.5 million in 2019. The report also offers the following:
- In-depth impact analysis of the COVID-19 outbreak on this market;
- Comprehensive analysis of the market drivers and opportunities;
- Detailed study of all the market segments;
- Careful examination of the regional prospects and competitive landscape shaping market growth. .
Regional Insights
North America to Fasten Its Hold on Market Share through Increased Military Spending
Chief among the factors enabling North America to lead the thermal camera market share is the heightened spending on armed forces in the US. This increased spending is aimed at equipping the armed forces with advanced military gear, including these cameras, to efficiently conduct surveillance and security operations. In 2019, the market size in the region was at USD 643.7 million.
In Europe, the primary market drivers have been declining costs of thermal imaging devices and increasing adoption of thermal sensors for industrial applications. On the other hand, the market is Asia-Pacific is expected to soar as border conflicts between leading Asian economies, mainly India and China, is spiking the demand for thermal equipment to conduct effective border patrolling activities.
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Competitive Landscape
Key Players to Focus on Diversifying Their Offerings to End Users
Diversification and expansion of existing portfolio is expected to be the mainstay strategy for most players in this market. New product releases, enabled by enhanced R&D capacities, will also allow these players to broaden their sales horizons globally and gain an edge against other companies in the market.
Regional Analysis for thermal camera market:
- North America (the USA and Canada)
- Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)
- Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
- Latin America (Brazil, Mexico and Rest of Latin America)
- Middle East & Africa (South Africa, GCC and Rest of the Middle East & Africa)
Major Table of Contents for thermal camera market:
- Introduction
- Executive Summary
- Market Dynamics
- Key thermal camera market Insights
- Global Market Analysis, Insights and Forecast, 2015-2026
- North America Market Analysis, Insights and Forecast, 2015-2026
- Europe Market Analysis, Insights and Forecast, 2015-2026
- Asia Pacific Market Analysis, Insights and Forecast, 2015-2026
- The Middle East and Africa Market Analysis, Insights and Forecast, 2015-2026
- Latin America Market Analysis, Insights and Forecast, 2015-2026
- Competitive Landscape
- Global thermal camera market Revenue Share Analysis, By Key Players, 2020
- Company Profiles
- Conclusion
Industry Developments:
- May 2020: The US-based thermal imaging specialist, FLIR Systems, released its first thermal imaging dataset collected from six of the busiest cities in Europe. The dataset is designed for researchers and developers to augment their work on advanced thermal sensors in the automotive sector and catalyze the adoption of next-gen automotive technologies such as advanced driver assistance-systems (ADAS).
- October 2019: US-based Fluke Corporation introduced the Fluke TI400+, the company’s new flagship thermal imaging camera. It features an innovative autofocus capability, which allows the camera to capture a variety of images with superior accuracy and clarity. The camera also comes with different lenses to be used in different weather conditions, along with an ergonomic design.
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