Automotive industry

Growth Analysis: Growing need for thermal cameras in the automotive industry is expected to drive the growth of the global thermal camera market by 2028

The global thermal imaging camera market is expected to witness remarkable growth by 2028, driven by the growing demand from the automotive industry. The wearable camera sub-segment is the most profitable. the North America region to dominate the global market.

NEW YORK, January 11, 2022 /PRNewswire/ — Research Dive has added a new report to its offering titled “Thermal Camera Market by Product Type (Handheld and Stationary), Application (Security and Surveillance, Surveillance and Inspection, Detection and Measurement), End Use (Industrial, Aerospace and Defense, Automotive and Others (Law Enforcement, healthcare and marine )), and regional analysis (North America, Europe, Asia Pacificand LAMEA): Global Opportunities Analysis and Industry Forecast, 2021-2028.”

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According to the report, the Global thermal imaging camera market should generate an income of $19,303.9 million and get up healthy 10.2% CAGR during the analysis period 2021-2028.

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Thermal Camera Market Dynamics

According to our analysts, with the increasing need for thermal imaging cameras in the automotive industry to assist drivers in adverse weather conditions or low light conditions, and to reduce accidents and improve safety, the market is expected to witness gradual growth. during the forecast period. Also, the increasing use of thermal cameras for ensuring vehicle safety and for non-destructive testing of automotive parts such as brakes, tires are the factors that are expected to support the thermal camera market growth over the estimated period. . Moreover, growing investments in research and development on thermal imaging cameras and increasing implementation of innovative technologies are further expected to create huge growth opportunities for the market over the estimated period. However, export restrictions on thermal imaging cameras may limit the market growth over the forecast period.

Segments of the thermal imaging camera market

The report has split the thermal imaging camera market into segments based on product type, application, end-use, and region.

  • By product typethe wearable cameras sub-segment should be the most lucrative and should bring in a income from $12,498.6 million during the analysis period. In addition, the use of the handheld camera in the navy and military sectors for border surveillance and law enforcement is expected to fuel the growth of the thermal camera market sub-segment during the analysis period.

  • On demandthe monitoring and inspection sub-segment should be the most profitable and should generate an income of $6,004.4 million over the analysis period. Additionally, increasing use of thermal cameras for surveillance and inspection as infrared technology does not require contact at the time of surveillance is the factor expected to drive the growth of the thermal camera market sub-segment in the during the estimated period.

  • By end usethe aerospace and defense sub-segment should be the most productive and should generate a income from $7,370.5 million during the forecast period. The growing use of thermal imaging cameras in the aerospace and defense sector for better quality control of enhanced security measures, and owing to its lightweight nature, is expected to further amplify the growth of the market sub-segment thermal cameras during the estimated period.

  • By regionthe North America Region is expected to hold the largest market share and is expected to generate income from $7,820.0 million over the analysis period. This is mainly due to the strong presence of a large number of device manufacturers in this region. In addition, growing investments in government initiatives in the military and defense sector are expected to boost the regional market growth over the forecast period.

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Impact of Covid-19 on the thermal imaging camera market

With the rise of the Covid-19 pandemic, the thermal camera market has been negatively impacted like other industries. Due to the spontaneous spread of the virus, many factories have imposed shutdowns, which has further led to supply chain disruption. These factors hampered the production and distribution of thermal imaging cameras during the crisis period. However, the growing demand for thermal cameras to detect temperature remotely is expected to flourish in the growth of the market in the near future.

Learn about the impact of COVID-19 on the thermal imaging camera market. Click here to schedule a call to speak to our expert analyst for Triangulate with your own data

Top 10 Market Leaders in Thermal Camera Design and Manufacturing

Key players of thermal imaging camera market include

1. United Technologies
2. Leonardo
3. Communications Axis
4. L3HARIS TECHNOLOGY
5. BAE systems
6. Fluke Corporation
7. Opgal
8. FLIR Systems
9. Thales Group
ten. Testo, and many more.

– Inquire to get access to the detailed report on the development strategy of the best companies

These players are working on developing new business tactics and strategies to gain the leading position in the cutting-edge industry.

For example, in June 2020, Outerspace Design engineers and designersa leader melbourne based design and development solutions announced its collaboration with world-renowned technology solutions LRM Technologies and Defense Science and Technology Group, a subsidiary of the Australian Department of Defense dedicated to providing science and technology support. With this collaboration, the companies aim to develop thermal cameras capable of assessing the cause of metal fatigue in aircraft.

Besides, the report also summarizes other crucial aspects including product portfolio, financial performance of key players, SWOT analysis and latest strategic developments.

Learn more about the thermal imaging camera market:

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About research diving

Research Dive is a market research company based in Pune, India. Maintaining the integrity and authenticity of the services, the firm provides services solely based on its proprietary data model, constrained by the 360-degree research methodology, which guarantees complete and accurate analysis. With unparalleled access to several paid data resources, a team of expert researchers and a strict work ethic, the company offers extremely accurate and reliable information. By reviewing relevant press releases, government publications, decades of business data, and technical and white papers, Research Dive delivers the required services to its clients in a timely manner. His expertise is focused on examining niche markets, targeting their key driving factors and spotting threatening obstacles. Complementarily, he also maintains seamless collaboration with leading industry enthusiasts, which provides an added edge to his research.

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