NEW YORK , Oct. 5, 2022 /PRNewswire/ -- The global infrared imaging software market size is expected to grow by USD 467.05 million , accelerating at a CAGR of 7.57% between 2020 and 2025. The market structure is fragmented with the presence of several small-scale and large-scale vendors. The vendors are focusing on offering additional features and functionalities in package solutions to gain a competitive advantage over their rivals. During the forecast period, the competition in the market is expected to intensify with an increase in product extensions, technological innovations, and mergers and acquisitions. Gain actionable insights and make informed decisions. Download PDF Sample Report
The market is driven by the increasing adoption of video surveillance. The adoption of surveillance cameras has increased over recent years. This can be attributed to increased government spending on surveillance equipment. Surveillance cameras are also finding applications in the retail industry. End-users in the retail industry are increasingly adopting surveillance cameras to control the inflow and outflow of products. Thus, the increasing adoption of video surveillance cameras is expected to drive the growth of the market during the forecast period.
In addition, the advent of infrared imaging in mobile phones is anticipated to further boost the growth of the infrared imaging software market. However, the growth potential in the market is expected to reduce due to intense competition among vendors.
Major Vendors in Infrared Imaging Software Market:
Axis Communications AB: The company offers a range of thermal cameras such as thermal modular cameras and AXIS Q86 PT thermal network cameras.
BAE Systems Plc: The company offers thermal camera cores such as MIR640 and TWV640.
Fortive Corp.: The company offers Infrared Imaging Software services under the brand Fluke.
Honeywell International Inc.: The company offers different thermal cameras like thermal ball, modum, thermal bullet, and high res thermal bullet.
L3Harris Technologies Inc.: The company offers a wide area Long Range Surveillance Sensor a highly sensitive infrared camera designed for long-range surveillance and security applications.
Testo SE and Co. KGaA
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Infrared Imaging Software Market End-user Outlook (Revenue, USD Million, 2020-2025)
Government sector - size and forecast 2020-2025
Commercial sector - size and forecast 2020-2025
The government sector is the prime end-user in the market. The increasing use of surveillance cameras in aerospace and astronomy applications is driving the segment. The segment is also driven by increased government spending on the military sector for procuring advanced devices and products for executing effective and efficient military operations.
Infrared Imaging Software Market Application Outlook (Revenue, USD Million, 2020-2025)
Surveillance - size and forecast 2020-2025
Security - size and forecast 2020-2025
Automation maintenance - size and forecast 2020-2025
Automotive - size and forecast 2020-2025
Others - size and forecast 2020-2025
The surveillance segment will have the largest share of the market. The growing adoption and installation of surveillance systems to ensure facility protection, operations monitoring, loss prevention, and employee safety at workplaces is driving the growth of the segment.
Infrared Imaging Software Market Geography Outlook (Revenue, USD Million, 2020-2025)
North America - size and forecast 2020-2025
Europe - size and forecast 2020-2025
APAC - size and forecast 2020-2025
South America - size and forecast 2020-2025
MEA - size and forecast 2020-2025
37% of the market growth will come from North America during the forecast period. Factors such as increasing penetration of vendors in countries such as Canada and Mexico and rising awareness among end-users are driving the growth of the regional market. The increasing aging population in the country and the rising healthcare spending by the US government will also foster the growth of the infrared imaging software market in North America .
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Infrared Imaging Software Market Scope
Accelerate at a CAGR of 7.57%
North America, Europe, APAC, South America, and MEA
US, China, Germany, UK, France, and Japan
Leading companies, competitive strategies, consumer engagement scope
Axis Communications AB, BAE Systems Plc, Fortive Corp., Honeywell International Inc., L3Harris Technologies Inc., Leonardo Spa, Raytheon Technologies Corp., Teledyne Technologies Inc., Testo SE and Co. KGaA, and Thermoteknix Systems Ltd.
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, and market condition analysis for the forecast period.
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Market outlook: Forecast for 2020 - 2025
Surveillance - Market size and forecast 2020-2025
Security - Market size and forecast 2020-2025
Automation maintenance - Market size and forecast 2020-2025
Automotive - Market size and forecast 2020-2025
Others - Market size and forecast 2020-2025
Government sector - Market size and forecast 2020-2025
Commercial sector - Market size and forecast 2020-2025
Market opportunity by End user
North America - Market size and forecast 2020-2025
Europe - Market size and forecast 2020-2025
APAC - Market size and forecast 2020-2025
South America - Market size and forecast 2020-2025
MEA - Market size and forecast 2020-2025
Testo SE and Co. KGaA
Currency conversion rates for US$
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