The global thermal imaging market size was $2.27 billion in 2019 and is expected to reach $4.1 billion by 2027, with an annual growth rate of 7% over the forecast period.
Thermal imaging brands today are generously investing in research and development. In addition to focusing on product development, major companies are keeping an eye on local companies for acquisitions. In addition, many companies have decided to expand their product portfolio or service offerings. Therefore, joint ventures, mergers and acquisitions, and market entry strategies are some of the key business strategies that maintain brand competitiveness. Prominent vendors include Testo AG, Flir Systems, Axis Communications, BAE Systems, Danaher Corporation, DRS Technologies, Infrared Imaging Services LLC., Thermoteknix Systems Ltd., SATIR and Gratton Infrared Services.
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Thermal Imaging Market Segmentation
By Solution
• Software
• Hardware
• Services
By Application
• Firefighting
• Surveillance
• Intelligent Transportation System
• Commercial and Residential Security
• Surveys
• Automotive
• Personal Vision
• Threat Detection
• Others
By Industry
• Commercial Users
• Defense and Military
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