Market Revenue Thermal Imaging Industry Strategic Initiatives

Thermal Imaging Industry Strategic Initiatives, Financial
Performance, Revenue Forecast 2020
“Thermal Imaging Market size was valued at USD 3.2 billion in 2012 and is
poised to reach USD 6.50 billion by 2020, with a CAGR of 9.1%. High demand
of thermal imaging across residential and commercial sector is expected to
fuel market growth.”
Industry Insights
The global Thermal Imaging Market size was valued at USD 3.2 billion in 2012 and is poised to reach USD 6.50
billion by 2020, with a CAGR of 9.1%. High demand of thermal imaging across residential and commercial sector
is expected to fuel market growth. Cost effective cameras are available easily due to mass production.
Moreover, wide scale use of cameras across diverse range of application is expected to drive market growth
over the forecast period. Technological innovation leading to development of micro bolometers is expected to
open up several growth opportunities over the forecast period. Micro bolometers have led to high
commercialization of thermal imagers and is projected to fuel demand for global thermal imaging market.
Growing need of cameras in surveillance and security applications across public and private sectors is expected
to drive market growth. Moreover, with the need for increased security among citizens, the market is expected
to experience substantial growth over the forecast period. High investment in infrastructure development along
with growing demand for professional surveillance is projected to bolster growth for the industry.
Application Insights
Thermal imaging is primarily used in industrial, residential, commercial and military & defence applications.
Thermal imagers are used to monitor critical manufacturing processes, detect hot spots in mechanical or
electrical installation in industries.
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