Thermal Imaging Market to Exhibit 6.0% CAGR; High Demand from Healthcare Sector to Drive Growth

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Asia Pacific is set to experience healthy growth owing to the ongoing development of the automotive industry in the emerging economies, such as India and Japan. The India Brand Equity Foundation (IBEF), for instance, stated that the Indian automotive sector is upsurging every year by 9.5%. It was 4.02 billion units in 2017. Besides, in various sectors, the number of awareness programs regarding thermal imaging is rising. It would also contribute to the growth of the market in this region.

Competitive Landscape-

Key Players Focus on Novel Product Launches to Gain Competitive Edge

Companies present in the market are striving persistently to launch innovative products in the market for broadening their portfolio and thus, driving sales. They are also adding several features in their cameras to upgrade the quality. Below are two of the most recent industry developments:

• September 2019: Leonardo S.p.A., a multinational company specializing in aerospace, defence, and security based in Rome, unveiled its latest SLX-SuperHawk camera. It is equipped with the SuperHawk detector and is made up of more than a million infrared pixels. It helps in making the camera highly capable of fulfilling long-range targeting and surveillance requirements in harsh environments.
• June 2018: Fluke Process Instruments, provider of a wide range of process imaging systems, launched its brand new high-performance industrial thermal imager named ThermoView TV40. It is mainly developed for the most challenging climatic conditions. It delivers a fully integrated solution for archiving and monitoring data as well as controlling temperature.

List of the Key Companies operating in the Thermal Imaging Market. They are as follows:

• BAE Systems (UK)
• Workswell (Czech Republic)
• Leonardo S.p.A. (Italy)
• Thermoteknix Systems Ltd (UK)
• Fluke Corporation (US)
• Lynred (France)
• FLIR Systems, Inc. (US)
• Testo SE & Co. KGaA (Germany)
• DALI Technology (China)
• L3Harris Technologies, Inc. (US)
• Seek Thermal (US)
• Opgal (Israel)
• Axis Communications AB (Sweden)
• Other key market players

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