Thermal Imaging Market to Reach USD 4.99 Billion By 2027 | Reports And Data
NEW YORK, Aug. 11, 2020 /PRNewswire/ -- The Global Thermal Imaging Market is forecast to reach USD 4.99 Billion by 2027, according to a new report by Reports and Data. The growth of thermal imaging in various end-use industries is driving market demand. An increase in terrorist activities has impacted government and non-government revenue to a great extent. Increasing terrorism, instability, geopolitical tension, and cross border terrorism is driving market demand. The investment in the defense system for the modernization of military equipment is also encouraging the growth of the market. Thermal imaging helps armed forces to protect borders during nightfall and extreme weather.
The growth of the market also depends on the advancement of medical technologies. Several growth opportunities and adoption of the latest advanced technologies in the sector is providing ample growth opportunity for the market. Several areas, such as digital research and construction management, involve the usage of thermal imaging technologies. It is crucial for construction planners to study energy losses, moisture inspections, and building envelope inspection.
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High level of investment in construction development coupled with the growing demand for professional surveillance and the rising need for security applications in public and private sectors are propelling the market demand. However, restrictions in export and additional details required for longwave infrared cameras are hampering the market demand.
COVID-19 Impact Analysis:
The pandemic has propelled the demand for the market from the transportation and healthcare sectors. Various market players of developing nations are integrating artificial intelligence to enhance their protection level. Government all across the globe are implementing stringent regulations to locate high-risk zones, or those asked to be in-home quarantine. Smartphone apps integrated with geotagging features have been launched by several governments to ensure physical distancing. The market will witness an increased demand as there more advanced technologies are being adopted.
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Further key findings from the report suggest
For the purpose of this report, Reports and Data has segmented the Global Thermal Imaging Market on the basis of product type, application, industry vertical, and region:
Product Type Outlook (Revenue, USD Billion; 2017-2027)
Application Outlook (Revenue, USD Billion; 2017-2027)
Industry Vertical Outlook (Revenue, USD Billion; 2017-2027)
Regional Outlook (Revenue, USD Billion; 2017-2027)
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