ALBANY, N.Y., 8 April 2015. The global thermal imaging market, valued at $3,192.5 million U.S. in 2012, will grow at a compound annual growth rate (CAGR) of 9.76 percent through 2019, when it will reach $6,098.8 million U.S., according to a Transparency Market Research study. Thermal imaging is on an excellent growth path, with applications in surveillance, security, maintenance, monitoring, firefighting, public safety, and more.
The report, available now, is entitled “Thermal Imaging Market (By Applications- Surveillance and Security, Maintenance and Monitoring, Traffic Monitoring, Healthcare, Automobiles, Research and Development, and Others (Firefighting and Personal Vision); By End-users - Defense and Military, Industrial, Commercial and Residential Sector)--Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2013-2019.”
The study segments the global market for thermal imaging according to key application areas of thermal imaging, chief end users, and main regional markets. Among key application segments, surveillance and security holds the largest share of the overall market.
“Demand for thermal imaging has enjoyed a huge boost from the surveillance and security segment in the past few years due to increased investment in armed forces by rising countries such as India, China, and Japan,” analysts say.
Of the various end-use segments covered by the report, the industrial and commercial sectors took up the highest revenue share of the market, an estimated 49.6 percent in 2012, according to the study. Further, the thermal imaging market in North America accounted for the highest share by revenue in 2012.
Transparency Market Research is a U.S.-based market intelligence company driven by consultants and researchers. TMR leverages Syndicated Research, Custom Research, and Market Consulting expertise to help businesses make accurate decisions. TMR’s exclusive blend of quantitative forecasting and trends analysis draws on proprietary data sources and techniques, while their data repository is continuously updated to reflect the latest trends.
Thermal imaging images courtesy Shutterstock.
