Global Infrared Camera Market was valued US$ XX Bn in 2018 and is expected to reach US$ XX Bn by 2026 at a CAGR of XX % during the forecast period.
Recent technological advancements have led to miniaturization, which is expected favorably impact market growth over the forecast period. These cameras are capable of viewing across a long-wave infrared region, and can also detect objects in total darkness. High investment, availability of cost-effective products due to mass production, and a range of diverse applications integrating this technology are expected to be the key market drivers. Further, the IR camera market is also expected to witness growth because of declining product price.
The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis.
Decreasing defense budgets in developed markets are expected to pose a challenge to market growth over the forecast period. Increasing adoption of high-resolution cameras and smartphones is expected to provide a sizeable opportunity for market growth. Further, IR camera plays a significant part in providing night-vision option for automobiles. For instance, FLIR Systems provides camera cores for Rolls Royce, BMW, Audi and Mercedes-Benz models through a partnership with Autoliv Electronics.
Asia-Pacific Region is expected to Have Highest Growth. In China, IR cameras are witnessing an increased adoption in armed forces, owing to their day-night working capability and their ability to perform well in all weather conditions. For instance, the government of China offers huge aerospace budgets for the incorporation of modern technology, owing to reforms by the Chinese communist party. One of the world's largest makers of drones, Chinese DJI, has partnered up with FLIR Systems, to bring infrared cameras to DJI's drones. DJI is providing drones attached with thermal imaging cameras, which were used by coast guards, and are now also available at lower costs to the public for recreational purposes.
Furthermore, Southern China plays a significant role in the Chinese IR camera industry, as it acts as an access to the international technological and market hub Hong Kong. This makes it easier for players in Shenzhen to purchase IR LEDs, a key component in IR cameras, which give them an edge over their competitors in Northern and Eastern China.
Advances in the infrared-imaging technology may drive the industry in the coming years. Manufacturers in the industry are occupied in the mass production of IR cameras to increase the profit margins. For instance, ASELSAN began the mass production of the eye of thermal cameras that can detect heat in the premises. Developments in the micro bolometer technology have resulted in high degree of commercialization that is contributing to the IR camera market size. Moreover, ability to capture images and video due to IR LEDs around outer edges adds an advantage.
Many players aim at the vertical integration of their operations to meet customer expectations and foster product developments. Mergers & acquisitions are their one more expansion strategy. All vendors compete on the basis of price, product reputation, performance, customer services, and training.
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The reports also helps in understanding dynamics, structure by analyzing the market segments by type, end use, and region and, project the global market size. The report also provides a clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Infrared Camera market. The report also provides PEST analysis, PORTER’s analysis, SWOT analysis to address the question of shareholders in arranging the efforts and investment in the near future to a particular market segment.
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Scope of Global Infrared Camera Market
Global Infrared Camera Market, By Component
• Signal Generator
Global Infrared Camera Market, By Industry Vertical
• Consumer Electronics
• Aerospace & Defense
• Security & Surveillance
Global Infrared Camera Market, By Region
• North America
• Asia Pacific
• Middle East & Africa
• South America
Key players operating in Global Infrared Camera Market
• Bosch Sicherheitssysteme GmbH
• Sofradir Group
• L3 Technologies, Inc.
• Leonardo DRS
• Axis Communications AB
• Zhejiang Dali Technology Co. Ltd.
• General Dynamics Mission Systems, Inc.
• FLIR Systems, Inc.
• SATIR Trade UK Co.
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