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Based on regions , the infrared camera market consists of Asia Pacific , North America , Europe , and RoW ( Rest of the World ). Asia Pacific will generate over USD 1.7 billion in 2024 . High consumption in defense applications in India , South Korea , and Japan should add regional expansion .
North America is predicted to be one of the leading regions till 2024 . This could be ascribed to its prominent vendors and technological superiority . Higher adoption of video surveillance cabling is yet another regional driver .
Several countries in the European Union have introduced regulations abiding by which new & refurbished buildings are required to obtain EPCs ( Energy Performance Certificates ). This is considered to support European demand . Key participants in the global infrared camera market comprise Axis Communications , FLIR Systems , Fluke Corporation , Samsung Techwin , and Testo AG .
Development of novel products , innovations in technologies , and consolidation through mergers & acquisitions are the major strategies adopted by these operators . Vertical integration is widely accepted as it fosters product innovations . It also aids in the efficient fulfillment of customer needs .
Technical proficiency , huge capital demand , and partnerships & acquisitions among vital players to enter developing geographical sectors are anticipated to boost entry hindrances for novel participants .
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