Portland,OR, Aug. 09, 2021 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global thermal imaging camera market was estimated at $3.16 billion in 2020 and is expected to hit $7.49 billion by 2030, registering a CAGR of 10.0% from 2021 to 2030. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and wavering market trends.
Increase in use of thermal imaging camera for security & surveillance and rise in adoption of thermal cameras in the manufacturing sector drive the growth of the global thermal imaging camera market. On the other hand, high capital and maintenance cost impedes the growth to some extent. However, surge in popularity of thermal imaging cameras in the commercial sector is expected to pave the way for lucrative opportunities in the industry.
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COVID-19 scenario-
- The outbreak of the pandemic has given way to increase the installation of thermal imaging cameras in different sectors including public places, thereby impacting the global thermal imaging camera market positively.
- This trend is quite likely to continue post pandemic as well.
The global thermal imaging camera market is analyzed across product type, type, application, industry vertical, sales channel, and region.
Based on product type, the cameras segment accounted for held more than half of the total market revenue in 2020, and is expected to lead the trail from 2021 to 2030. The scopes and goggles segment, on the other hand, would cite the fastest CAGR of 11.3% by 2030.
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By application, the security & surveillance segment contributed to the major share in 2020, generating nearly half of the global thermal imaging camera market. However, the monitoring & inspection segment would manifest the fastest CAGR of 11.0% throughout the forecast period.
By region, the market across Asia-Pacific held nearly half of the global thermal imaging camera market revenue in 2020, and is projected to lead the trail by 2030. The same region would also cite the fastest CAGR of 10.9% from 2021 to 2030. The other provinces studied in the report include North America, Europe, and LAMEA.
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The key market players analyzed in the global thermal imaging camera market report include Bullard, Cox, Fluke Corporation, SATIR, Seek Thermal, Synectics Plc, Teledyne FLIR LLC, Thermoteknix Systems Ltd., InfraTec GmbH Infrarotsensorik und Messtechnik, and Opgal. These market players have incorporated several strategies including partnership, expansion, collaboration, joint ventures, and others to brace their stand in the industry.
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