Thermal Camera Market to Hit USD 3,642.8 Million by 2027; Integration of IoT in Thermal Imaging Devices to Brighten Market Prospects: Fortune Business Insights | Financial Buzz

Thermal Camera Market to Hit USD 3,642.8 Million by 2027; Integration of IoT in Thermal Imaging Devices to Brighten Market Prospects: Fortune Business Insights

Pune, June 29, 2020 (GLOBE NEWSWIRE) — 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”.

Get Sample PDF Brochure: https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/thermal-camera-market-103098

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.

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.

Please visit: https://www.fortunebusinessinsights.com/thermal-camera-market-103098


Market Driver

Rising Adoption of Thermal Imaging Technology in Automotive Sector to Boost the Market

One of the factors gaining prominence in boosting the thermal camera market growth is the rising uptake of these devices for performing automotive diagnostics. With increasing complexity and advancements in automotive technologies, efficient detection of vehicular problems is becoming a dire requirement in this sector. Thermal imaging tools can serve this purpose. For example, if an electrical component in the car is not functioning properly and if it is concealed by overlaying wires and sheaths, thermal cameras can quickly pinpoint the location of the problem, enabling the technician to fix it accurately and in a time-bound manner. Further, these cameras can highlight excessive friction in certain components, which can cause them to wear out faster than they should. These, and many other uses of thermal imaging technology in the automotive sector, are fueling the product demand.

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.

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.

Speak to Analyst: https://www.fortunebusinessinsights.com/enquiry/speak-to-analyst/thermal-camera-market-103098

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.


List of the Leading Companies Profiled in the Thermal Camera Market Research Report are:

  • 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

Quick Buy – Thermal Camera Market Research Report: https://www.fortunebusinessinsights.com/checkout-page/103098

Detailed Table of Content

  • Introduction
    • Definition, By Segment
    • Research Approach
    • Sources
  • Executive Summary
  • Market Dynamics
    • Drivers, Restraints, and Opportunities
    • Emerging Trends
  • Key Insights
    • Macro and Micro Economic Indicators
    • Consolidated SWOT Analysis of Key Players
    • Impact of COVID-19
      • Short-term Impact
      • Long-term Impact
    • Key Industry Developments – In Response to the COVID-19 Impact
  • Global Thermal Camera Market Analysis, Insights and Forecast, 2016-2027
    • Key Findings / Summary
    • Market Size Estimates and Forecasts
      • By Product (Value)
        • Handheld
        • Mounted
        • Scopes and Goggles
      • By Technology (Value)
        • Cooled
        • Uncooled
      • By Application (Value)
        • Monitoring and Inspection
        • Security and Surveillance
        • Detection and Measurement
        • Search and Rescue Operations
      • By End-Use (Value)
        • Military and Defense
        • Industrial
        • Commercial
        • Healthcare and Life Sciences
        • Residential
        • Automotive
        • Oil and Gas
      • By Region (Value)
        • North America
        • Europe
        • Asia Pacific
        • Middle East and Africa
        • Latin America

TOC Continued…!!!


Get your Customized Research Report:
https://www.fortunebusinessinsights.com/enquiry/customization/thermal-camera-market-103098

Have a Look at Related Research Insights:

Semiconductor Market Size, Share & Industry Analysis, By Components (Memory Devices, Logic Devices, Analog IC, MPU, Discrete Power Devices, MCU, Sensors and Others), By Application (Networking & Communications, Data Processing, Industrial, Consumer Electronics, Automotive, Government) and Regional Forecast, 2019-2026

Image Sensor Market Size, Share & Industry Analysis, By Technology (CCD Sensor, CMOS Sensor), By Processing Type (2D, 3D), By Application (Consumer Electronics, Automotive, Healthcare, Surveillance & Security, Others), and Regional Forecast, 2019-2026

Thermal Imaging Market Size, Share and Industry Analysis, By Technology (Cooled and Uncooled), By Product (Thermal Camera, Thermal Scopes and Thermal Module), By Wavelength (Shortwave Infrared, Midwave Infrared and Longwave Infrared), By Application (Security & Surveillance, Monitoring & Inspection, and Detection & Measurement), By Vertical (Aerospace & Defence, Law Enforcement, Automotive, Oil & Gas, Residential), and Regional Forecast 2019-2026


About Us:

Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in. 

Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data. 

At Fortune Business Insights™, we aim at highlighting the most lucrative growth opportunities for our clients. We therefore offer recommendations, making it easier for them to navigate through technological and market-related changes. Our consulting services are designed to help organizations identify hidden opportunities and understand prevailing competitive challenges.

Contact Us:

Fortune Business Insights™ Pvt. Ltd.
308, Supreme Headquarters,
Survey No. 36, Baner,
Pune-Bangalore Highway,
Pune – 411045, Maharashtra, India.
Phone:
US: +1-424-253-0390
UK: +44-2071-939123
APAC: +91-744-740-1245
Email: sales@fortunebusinessinsights.com
Fortune Business Insights™
LinkedIn | Twitter | Blogs

Read Press Release : https://www.fortunebusinessinsights.com/press-release/thermal-camera-market-10052

Primary Logo