Global sales of rugged thermal cameras market are anticipated to exhibit a CAGR of 9.5% during the forecast period, 2020-2030. Thermal imaging finds immense utilization in the aviation industry, primarily for military purposes. Its application radar consists of diverse domains including, navy, automotive, geological survey, agriculture, and fault detection.
Given a drop in prices of infrared (IR) imaging, civilian surveillance applications are widely embracing the technology. These rugged thermal cameras can be used remotely and controlled through internet in real time by leveraging ascendant remote management software (ARMS) from any device.
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COVID-19 Pandemic Impact Analysis
The sudden coronavirus (COVID-19) pandemic situation has widened the gap between supply and demand of security and surveillance systems, which, in turn, is severing the supply chain as well as manufacturing operations of various video surveillance system manufacturers. In the course of past five years, the market for rugged thermal cameras has grown by almost 8%, globally.
Furthermore, due to the pandemic, nationwide lockdowns and restrictions on transportation & logistics are resulting in production downtime and worker scarcity. In China, where the pandemic initially began, supply chains have also been negatively impacted by the COVID-19 spread, hindering the overall Chinese production by 2%.
Key Takeaways of Rugged Thermal Camera Market Study
- North America is expected to hold significant share in the global rugged thermal camera market over the forecast period.
- Cooled thermal cameras are likely to capture leading revenue share among all technology, as these cameras are widely used in extreme conditions worldwide.
- Security and surveillance is anticipated to remain key application area of rugged thermal cameras.
- Players in rugged thermal cameras continue to invest in government sector over the decade.
The rugged thermal camera market in South Asia & Pacific is likely to witness rapid growth, owing to upsurge in military expenditure in countries such as India, Singapore, and Malaysia. In addition, rise in adoption of new-age security systems for detecting and preventing security breaches is creating fertile ground for rugged thermal camera market players.
Increasing Adoption of Rugged Thermal Cameras in Maritime Industry to Propel Sales
Rugged thermal cameras are highly effective in maritime environments, wherein they are used to detect objects that can damage a vessel, and shipping lane traffic buoys. They monitor activities in port and detect approaching vessels without alerting them. Furthermore, rugged thermal cameras provide mariners with professional multi-sensor marine thermal vision to see other vessels, people in the water and navigational hazards.
Interested in More Valuable Insights on Rugged Thermal Camera Market?
Future Market Insights offers an unbiased analysis of the global rugged thermal camera market, providing historical data for 2015-2019 and forecast statistics from 2020-2030. To understand opportunities in the rugged thermal camera market, the market is segmented on the basis of technology, application, and end user across seven major regions.
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KEY RESEARCH FINDINGS
- The global rugged thermal cameras will exceed its US$ 2 Bn in 2024.
- Cooled thermal cameras remain highly preferable; uncooled thermal cameras to falter markedly.
- Market players eye security and surveillance for meaningful business returns.
- Government sector continue to be primary end user of rugged thermal cameras.
- North America remains in the vanguard; Asia Pacific (APAC) to offer potential growth avenues.
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