The global infrared imaging market size will attain a market revenue of $9,772m by 2024, expanding at a healthy compound annual growth rate (CAGR) of 7.88% over the course 2018-2024.
— An unprecedented demand from the automation industry, the requirement of infrared imaging in the pilot assistance, and cross-industry collaboration coupled with the support from major companies are some of the driving forces behind the growth of infrared imaging market. As per the experts at IndustryARC, the global infrared imaging market size will attain a market revenue of $9,772m by 2024, expanding at a healthy compound annual growth rate (CAGR) of 7.88% over the course 2018-2024.
The business intelligence report published by IndustryARC titled ‘Infrared Imaging Market And Wide Area Surveillance Infrared Imaging: By Technology (Cooled, Uncooled); By Spectrum Ranges (NIR, SWIR, Others); By Design; By Product Type; By Application (Wide Area Surveillance, Temperature Monitoring, Others); By Industry Verticals (Defense, Automotive, Others) & Geography- Forecast (2018 - 2024).’ utilizes statistical information to talk about the important aspects of this market including growth drivers, trends, and segmentation. This report covers Infrared Imaging Market Size by technology and applications, Infrared Imaging Market share by top 5 companies and also the market share by start-ups during the forecast period.
Infrared Imaging Market: Regional Analysis and Growth Drivers
The continent of North America has made massive improvements in its surveillance systems using wide-area surveillance infrared imaging. This technology has extensively helped the police departments and military in carrying out operations such as surveillance activities, accident investigation, and locating evidence for the tactical teams. Even though the cost for installing these systems is quite high, it hasn’t deterred consumers from purchasing because of the long term practical usage and the perpetual technological advances that have improved the quality of the image capturing. Major end-users of the infrared imaging market include defense, government organizations, oil and gas, and production plants. According to the analyst, North American demand share of the infrared imaging market will grow at a compound annual growth rate of 11% during the forecast period 2018-2024, and the market is estimated to reach $852.2m by 2024.
The infrared imaging market is experiencing a high demand from the industrial and automotive industry. Since the automotive industry is highly reliant on machine vision for the inspection of components moving at high speeds, this industry generates a high demand for infrared imaging and high-resolution cameras. Other industries that make use of infrared imaging include healthcare in which fields including oncology and pharmacology are expected to grow with simultaneous occurrence of point of care and cross-industry partnerships.
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Infrared Imaging Market: Recent Developments
Quasar 4x2K Panoramic Camera:
It is a technologically advanced camera developed by Flir Systems which makes use of sensors. It offers a wide area surveillance which helps in monitoring cities, infrastructures, and high-security areas.
Wide Area Surveillance Sensors:
L3 Technologies has invented cameras named 2K x 2K Infrared and 4K x 4K Sensor which make use of wide area surveillance sensors that provide surveillance for the smallest size such as 4.2 megapixels.
Infrared Imaging Market: Competitive Landscape
Key market players operating in the global infrared imaging market and holding majority shares are Flir Systems, Inc., Opgal Optronics Industries Ltd., L3 Technologies, Inc., Harris Corporation, Thales Group, HGH Systemes Infrarouges SAS, Rheinmetall AG, Aselsan AS, BAE Systems, Leidos Holdings, Inc., Axis Communications, Bosch Security, Fluke Corporation, Leonardo DRS, and General Dynamics.
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A. Medical Imaging Software Market
B. Diagnostic Imaging Services Market
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