The handheld imager market is expected to be driven by a higher adoption of the devices in applications such as electrical inspections, healthcare, HVAC engineering, military, and defense. The advancement in technology has helped in developing these sophisticated devices that are capable to capture a crisp and clear image and enable scanning in daylight as well as in dark and low light.
In a bid to offer innovative handheld thermal imaging camera that ensures adequate security and enhances the situational awareness, companies are increasingly emphasizing R&D activities to produce such innovative products. The global market size is projected to surpass US$3.5 billion.
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Considering the product segment, handheld imager market is mainly segmented into stud finder, millimeter waves scanner, microbolometer, and IR scanner. IR scanner market is anticipated to dominate the overall industry in coming years, owing to the benefits offered by these scanners such as inventory control, time saver, and error reduction.
Millimeter wave scanner handheld imager market will also grow significantly at an annual rate of 17% over the coming six years. The growth can be credited to its growing implementation across the governmental and commercial sectors. Moreover, these products are also extensively used in airports to ensure passengers’ adequate security. This, in turn, is catalyzing global industry.
The primary application areas of market are security, medical, construction, and industrial. The market from medical applications is predicted to experience considerable growth in the years ahead, owing to its increasing requirement in monitoring patient’s health. Security applications dominated the market accounting for more than 35% of the total volume in 2015 and is expected to remain a leading application sector over the period 2016-2023. The increasing need for safety and security along with rapid urbanization will augment the industry growth in this sector. The government is investing heavily in the security systems at the high alert areas such as stations and airports to limit the terrorists attack.
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Geographically, Europe handheld imager market will register substantial growth rate over the coming six years, owing to the growing usage of thermal detection technology such as silicon microbolometer.
Asia pacific market share will grow noticeably with an annual growth rate of more than 13%. The growth can be attributed to its surging demand for high security. China and India will contribute significantly toward the APAC regional revenue. Handheld imagers are majorly used for military applications in these regions
North America market led the global landscape in 2015 and will exhibit substantial annual growth rate of around 12% over the period of 2016 to 2023, primarily driven by the implementation of strict governmental norms to install handheld imager for the security purpose. U.S. is projected to be the prime revenue pocket for North America.
Handheld imager market is highly competitive with the growing number of new entrants in the business space. Product differentiation and competitive pricing will remain the two most distinguishing factors for the players to sustain their market position. The notable participants in market are Fluke Corporation, Robert Bosch GmbH, DRS Technologies, Zircon Corporation, FLIR Systems, Stanley Black & Decker, and ULIS IR.
Major Key Points from Table of Content:
Chapter 4 Handheld Imager Product Insights
4.1. Handheld imager market share by product, 2015 & 2023
4.2. IR scanner
4.2.1. Market estimates and forecasts by region, 2012 - 2023
4.3. Millimeter wave scanner
4.3.1. Market estimates and forecasts by region, 2012 – 2023
4.4. Stud finder
4.4.1. Market estimates and forecasts by region, 2012 - 2023
4.5.1. Market estimates and forecasts by region, 2012 – 2023
Chapter 5 Handheld Imager Application Insights
5.1. Handheld imager market share by application, 2015 & 2023
5.2.1. Market estimates and forecasts by region, 2012 - 2023
5.3.1. Market estimates and forecasts by region, 2012 – 2023
5.4.1. Market estimates and forecasts by region, 2012 - 2023
5.5.1. Market estimates and forecasts by region, 2012 – 2023
5.6.1. Market estimates and forecasts by region, 2012 - 2023
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