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Thermal Imaging Market in Asia Pacific Region is Projected to Gain More Traction Over the Period of 2018 - 2024

Author : Ronak Bora | Published Date : 2019-04-03 

Major thermal imaging market drivers in Asia Pacific countries including India, Malaysia, and South include the rapid pace of technology adoption and penetration in the region. The declining price of thermal cameras and the presence of regional vendors offering low-cost solutions are expected to favorably impact the market growth in India and China.

With the onslaught of technological advancements, thermal imaging market has emerged to be one of the most rapidly evolving verticals of the dynamic electronics & media industry. In an era of connected technologies like machine learning, artificial intelligence, and IoT, the business space has been lately experiencing extensive profiling of its application terrain.

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The fact is quite vividly coherent from the incessant efforts undertaken by thermal imaging market players to bring forth novelty in their product portfolio. In a recent turn of events, FLIR, one of the top-notch thermal imaging industry giants launched its free machine learning dataset which is touted to bring a revolution of sorts in the automotive or rather autonomous vehicle navigation landscape.

The thermal imaging market is characterized by the compliance of these products with industry standards such as the National Fire Protection Association (NFPA) 1801 standard, the Ingress Protection (IP) rating 65,67 and the regulations imposed on the export of such devices including the U.S. International Traffic in Arms Regulations and the Export Administration Regulations (EAR). Such regulatory compliances ensure the devices reliability and performance even under adverse conditions and prevent misuse and trafficking for illegal purposes.

Thermal imaging market share from automotive applications, as per reports, is slated to cross USD 900 million by 2024. The escalating revenue graph of the business space can primarily be credited to the increasing penetration of self-driving cars in automotive space. With these autonomous vehicles equipped with advanced features like high-resolution cameras, LIDAR, the domain has turned out to be a viable investment avenue for thermal imaging industry players.

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Scopes & vision goggles offer the flexibility of day and night time use even under adverse weather conditions such as fog or smoke. Riflescopes enable military personnel to read off the targets heat signatures for the most accurate position decision. Most riflescopes feature several color palates for better visualization and are more expensive than the monochrome models. Geopolitical unrest and the need for technologically-equipped border patrol are expected to drive thermal imaging market growth for the segment.

Major vendors in the thermal imaging market space are FLIR Systems, Leonardo DRS, Raytheon Company, and Fluke Corporation. The market is characterized by stiff price competitiveness and innovative solutions.

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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

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