Global Infrared Thermography Market

Global Infrared Thermography Market size was valued at US$ XX Mn in 2019 and expected to reach US$ XX Mn by 2019 at a CAGR of 9% during the forecast period. The Global Infrared Thermography market report is a comprehensive analysis of the industry, market, and key players. The report has covered the market by demand and supply-side by segments. The Global Infrared Thermography report also provides trends by market segments, technology, and investment with a competitive landscape. Global Infrared Thermography Market To know about the Research Methodology :- Request Free Sample Report

Global Infrared Thermography Market Overview:

Infrared Thermography is a process of using thermal imaging techniques to calculate or simply evaluate the heat radiated from an object and display it in the form of a temperature distribution curve. Since all objects above the absolute zero temperature emit infrared rays, thermography easily detects and displays the infrared wavelengths even in ambient temperature conditions. Machine monitoring, non-destructive testing, moisture inspection, leak inspection in constructions, airport security imaging are some of the important applications of infrared thermography across the globe. Detection of abnormal heat patterns within the machine is the primary goal of infrared thermography. The global infrared thermography market is expected to register a CAGR of approximately 9% during the forecast period.

Global Infrared Thermography Market Dynamics:

Increasing demand for condition monitoring by various asset managers across different industry verticals and increasing need to measure the temperature of food, medicines, or any person without getting close to them owing to social distancing norms post-pandemic are the factors considered to drive the growth of the market. Moreover, increasing demand for data monitoring and thermal variances across the distributed patterns of environment conditions across the globe are the key supporting factors considered to drive the growth of the infrared thermography market. Various APAC and North American construction companies are developing energy-efficient buildings e.g. Google headquarters in the US is 80% energy efficient and believed as the first step towards smart construction. In addition, Amazon and Apple headquarters in the US are believed to be 60-75% energy efficient. Increasing demand for reduction of carbon footprints by various government organizations including G8 nations, ASEAN, European Union and others is the key factor considered to escalate the demand for infrared thermography market. Moreover, energy loss and air leakage inspections across the manufacturing facilities of the automotive sector and the need for maintaining the ambiance of temperature within the facility are some of the important applications of infrared thermography. Recently, Volkswagen has installed approximately 700 million USD worth of infrared and thermal monitoring devices across the Wolfsburg Volkswagen Factory in Germany which is approximately 6.5 million Sq. meter in area and considered as the largest manufacturing facility in the world. Increasing demand for infrared imaging in healthcare sector including thyroid abnormalities detection, peripheral vascular disease, inflammation monitoring, and many more applications are the key factor considered to drive the growth of the market. High equipment installation and maintenance the cost associated with it is the key factor considered to hamper the market growth. Slothful implementation of new technologies in developing economies across the globe and less awareness about the applications of the infrared thermography among the small scale manufacturers in the APAC and LATAM region are the factors expected to restrain the market growth during the forecast period. Moreover, improvement in portable imaging devices manufacturing and increasing growth potential of smart building and smart manufacturing across the globe are the factors expected to drive the market growth during the forecast period. Moreover, electrical appliances and semiconductors inspection are the factors attributing ample growth patterns in the market and expected to dominate the market during the forecast period.

Global Infrared Thermography Market Segment Analysis:

Building Inspection Segment is dominating the Infrared Thermography Market:

Ample growth of infrastructure across various emerging economies and increasing inclination of manufacturers towards smart and efficient construction technology are the key factors considered to drive the growth of the segment. Moreover, need to address the issues in construction including qualitative inspection of building material, platform monitoring, energy auditing, HVAC inspection, structural analysis, and many more in short period of time owing to deadlines given to construction companies for work completion are the key factors attributing growth in the segment. Building inspection segment accounted for approximately 2.2 billion USD in the year 2019 owing to increasing demand for safety objectives and predictive maintenance techniques used in construction.

Infrared Thermal Imaging Cameras Segment Accounted for Highest Share in Infrared Thermography Market:

Factors attributing to the growth of the segment are the increasing need to address multiple objects in a single pass owing to the increasing population and handheldness of infrared thermal imaging cameras. Moreover, improved color palette quality and ease in temperature distribution and monitoring of the thermal imaging cameras is the key factor considered to drive the growth of the segment. Security gateways, earth science imaging, machine monitoring, temperature monitoring of people are some of the applications of IR thermal imaging cameras. Picture in picture fusion blending and different palettes available in the market are the key factors attributing growth patterns in the market. IR thermal imaging cameras segment accounted for approximately 1.4 billion USD in terms of sales in the year 2019. Global Infrared Thermography Market 1

Impact of COVID pandemic on the Infrared Thermography market:

COVID pandemic has posed a relatively low impact on the market as the need for thermal imaging and IR sensing is on the peak amid the pandemic period owing to health and safety issues and ever increasing security measures across public transport and airports across the globe. Moreover, increasing need for closed-circuit television cameras and use of IR sensors in the system has developed extensive growth opportunities for prominent players in the market. In addition, transportation capabilities of key players in the market has disrupted in the year 2020 and first quarters of 2021 and owing to the above factor, the market has experienced a slight mishap in inventory management and control. Furthermore, reopening of production facilities for Infrared Thermography post-pandemic and restoring of transportation capabilities across the globe owing to increasing manufacturing activities by key players in the market and rescheduling of shipments halted in pandemic the period towards inventories and distributaries across the globe are the factors considered to drive the growth of the market during the forecast period. Besides, increasing demand for low cost and compact systems in commercial and residential sectors is the key factor expected to create opportunities in the market.

Global Infrared Thermography Market Regional Insights:

North America holds the major share in the Infrared Thermography market owing to the increasing demand for smart building and electrical appliances monitoring across the region. Moreover, increasing inclination of manufacturers towards research and development in the Infrared Thermography manufacturing is the key supporting factor considered to drive the growth of the market. In addition, increasing focus on product integration by manufacturers and DSLR like picture quality given by different imaging cameras are the factors attributing growth in the region. APAC is expected to pose as the fastest-growing region in the Infrared Thermography Market with approximately 14% market share. Progressive adoption of IR monitoring systems for machine conditioning and chemical facilities across the region is the key factor attributing to market growth in the region. Moreover, increasing transportation capabilities of the APAC region in the consumer goods and healthcare inventory sector are the key factors considered to affect the market growth of the region. China holds the largest share in the market owing to increasing production capabilities across the region and high optical imaging device calibration plants across the region. Europe holds the prominent share in the market owing to high technological adoptions in optical imaging and infrastructure development sector. Advanced devices manufacturing across the European region and especially in semiconductor inspection and healthcare sector is the key supporting factor considered to drive the growth of the market in the region. Global Infrared Thermography Market 2 The objective of the report is to present a comprehensive analysis of the Global Infrared Thermography Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding the Global Infrared Thermography Market dynamics, structure by analyzing the market segments and project the Global Infrared Thermography Market size. Clear representation of competitive analysis of key players by Type, price, financial position, Type portfolio, growth strategies, and regional presence in the Global Infrared Thermography Market make the report investor’s guide

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Global Infrared Thermography Market, by Region

• North America o US o Canada o Mexico • Europe o U.K o France o Germany o Italy o Spain o Sweden o CIS Countries o Rest of Europe • Asia Pacific o China o India o Japan o South Korea o Australia o ASEAN o Rest of Asia Pacific • Middle East and Africa o South Africa o GCC Countries o Egypt o Nigeria o Rest of ME&A • South America o Brazil o Argentina o Rest of South America

Global Infrared Thermography Market Key Players

• FLIR Systems • Jenoptik AG • Fluke Corporation • SKF AB • Keysight Technologies, Inc. • Testo AG • Reytek Corporation • Optris GmbH • R. Stahl Cameras Systems • Opgal Optronic Industries, Ltd. • DRS Technologies • BAE Systems • L-3 Communications • Infratec GmbH • Reytheon Company

Author: Web Spangle

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