by Shane Henson — January 22, 2014—The thermal imaging market is strong and is expected to grow significantly for a variety of reasons, including its use in surveillance products such as closed circuit television (CCTV) cameras and a wide range of commercial applications, according to a new report from MarketsandMarkets.
Facilities managers, building engineers and construction technicians have started using the technology to envision thermal signatures that indicate heat leaks where efficiency improvements can be made in thermal insulation and heating and air-conditioning units.
Thermal Imaging Market [Surveillance (Airborne, Maritime, Land), Threat Detection, Surveys, Automation, Radiology, ITS, Commercial Security, Personal Vision, Firefighting, R&D, Veterinary, Automotive]—Worldwide Market Forecasts (2013—2018) predicts that the thermal imaging market is estimated to grow from $3.49 billion in 2013 to $5.84 billion in 2018.
The major forces driving this market are growing horizontal adoption, price reduction, low environmental impact, and original equipment manufacturers differentiation, according to the report. Also, the increase in use of thermal imagers across a range of commercial applications in all regions of the world has been noted as one of the major factors behind the continual increase in thermal imaging market size.
Solution providers such as FLIR Systems, DRS Technologies, Sofradir, Danaher Corporation, Axis Communications, BAE Systems, Thermoteknix Systems, Testo AG and many others are expected to provide integrated thermal imaging solutions and offer better competitive services.
The companies in this industry must take advantage of the growing awareness of thermal imaging in the new markets such as Middle East and Africa as well as Asia Pacific, says MarketsandMarkets. The surveillance, automotives, intelligent transportation systems, and services done via thermal imagers such as surveys are the applications having high growth rate in the market.
