Thermal Imaging Gaining Higher Ground
By Mat Dirjish
Driven by government expenditures in the aerospace and defense sector, autonomous vehicles, and other factors, the thermal imaging market offers a motherlode of opportunities. MarketsandMarkets reports that the thermal-imaging market could garner a not-too-shabby $4.6 billion by 2025. The research firm’s report, title “Thermal Imaging Market by Technology, Wavelength, Product, Application, Vertical, Region – Global Forecast to 2025”, estimates the market at $3.4 billion in 2020 and growing to $4.6 billion by 2025;at a CAGR of 6.2%.
Other points include:
- Un-cooled products accounts for larger share of market in 2019.
- SWIR thermal products set to grow at highest CAGR during the forecast period.
- Market for thermal modules set to grow at highest CAGR.
- Security and surveillance applications score largest share in 2019.
- Healthcare and life sciences set to grow at highest CAGR during the forecast period.
- APAC to grow at highest CAGR.
- Key players in the thermal-imaging game include FLIR Systems, Inc. (Oregon, US), Fluke Corporation (Washington, US), Leonardo S.p.A. (Rome, Italy), L3HARRIS TECHNOLOGIES, INC. (Florida, US), and United Technologies (Connecticut, US).
For more details and predictions, checkout the “Thermal Imaging Market” report.
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