The thermal imaging market
is expected to reach USD 4.04 Billion by 2023 from USD 2.72 Billion in
2017, at a CAGR of 6.73% between 2017 and 2023. This market has been
segmented on the basis of type, application, vertical, and geography.
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The
thermal imaging market is dominated by established players.
Partnerships, collaborations, acquisitions, product launches and
developments, and agreements are some of the major strategies adopted by
market players to achieve growth in the thermal imaging market, and
expand their global presence and increase their market share.
FLIR Systems designs,
develops, markets, and distributes technologies that are used to
enhance user perception and awareness. Thermal imaging systems, locator
systems, threat detection systems, and measurement and diagnostic
systems are some of the products offered by the company. With these
products, FLIR Systems caters to its customers from varied verticals,
such as military and defense, construction, energy and utilities,
transportation, and industrial manufacturing. The company has adopted
new product development as one of the key strategies for growth. In
October 2017, FLIR Systems launched 6 test and measurement products,
which included 2 digital multimeters and a clamp meter that feature
FLIR’s IGM. These devices would be powered by the FLIR Lepton
microcamera thermal core.
Fortive
was founded as an independent publicly traded entity in 2016, following
its separation from Danaher (US). In July 2016, Danaher Corporation
separated its test and measurement segment, retail/commercial petroleum
platform, and industrial technologies segment (except product
identification platform) through a successful spin-off from Fortive
Corporation (US). Since then, Fluke operates as a wholly owned
subsidiary of Fortive Corporation.
Fluke
has ~65 years of experience in developing and manufacturing thermal
imaging cameras and modules for various applications. Fluke has been
rapidly growing in new markets and developing new technologies,
including thermal imaging, remote wireless displays, and connected data.
A major strategy adopted by the company is new product development. In
August 2017, Fluke enhanced its Fluke Ti450 and Ti480 PRO series
infrared cameras to make it easier for technicians, engineers, and
electricians to get to the root cause faster. These cameras have
increased thermal sensitivity to capture minute differences and the
latest Fluke technology for on-screen clarity to make it easy to
visualize issues in the field.
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The
thermal imaging market includes companies such as FLIR Systems (US),
Fortive (US), Axis Communications (Sweden), Leonardo (Italy), BAE
Systems (UK), L3 Technologies (US), United Technologies (US), Sofradir
(France), Testo (Germany), Xenics (Belgium), and Seek Thermal (US).
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