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Infrared Imaging Software Market to record USD 467.05 Million; Evolving Opportunities with Axis Communications AB and BAE Systems Plc -- Technavio

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

Technavio has announced its latest market research report titled Global Infrared Imaging Software Market 2021-2025

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.
  • Leonardo Spa
  • Raytheon Technologies Corp.
  • Teledyne Technologies Inc.
  • Testo SE and Co. KGaA
  • Thermoteknix Systems Ltd.

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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

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 7.57%

Market growth 2021-2025

USD 467.05 million

Market structure

Fragmented

YoY growth (%)

5.32

Regional analysis

North America, Europe, APAC, South America, and MEA

Performing market contribution

North America at 37%

Key consumer countries

US, China, Germany, UK, France, and Japan

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

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.

Market Dynamics

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.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Table of contents:

Executive Summary

Market Landscape

  • Market ecosystem
  • Value chain analysis

Market Sizing

  • Market definition
  • Market segment analysis
  • Market size 2020
  • Market outlook: Forecast for 2020 - 2025

Five Forces Analysis

  • Five forces summary
  • Bargaining power of buyers
  • Bargaining power of suppliers
  • Threat of new entrants
  • Threat of substitutes
  • Threat of rivalry
  • Market condition

Market Segmentation by Application

  • Market segments
  • Comparison by Application
  • 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
  • Market opportunity by Application

Market Segmentation by End-user

  • Market segments
  • Comparison by End user
  • Government sector - Market size and forecast 2020-2025
  • Commercial sector - Market size and forecast 2020-2025
  • Market opportunity by End user

Customer landscape

Geographic Landscape

  • Geographic segmentation
  • Geographic comparison
  • 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
  • Key leading countries
  • Market opportunity by geography
  • Market drivers
  • Market challenges
  • Market trends

Vendor Landscape

  • Overview
  • Landscape disruption

Vendor Analysis

  • Vendors covered
  • Market positioning of vendors
  • 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
  • Thermoteknix Systems Ltd.

Appendix

  • Scope of the report
  • Currency conversion rates for US$
  • Research methodology
  • List of abbreviations
About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

Global Infrared Imaging Software Market 2021-2025

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SOURCE Infiniti Research, Inc.

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