Handheld Imager Market size to exceed revenue of USD 3.77 billion by 2023, at 12% CAGR by 2023

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Handheld Imager Market size forecast to cross USD
3.77 billion by 2023, at 12 CAGR from 2016 to
2023 Global Market Insights Inc.
Fuel Cell Market size worth 25.5bn by 2024
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Key Insights from Handheld Imager Market

• Global IR scanner market size was over USD 1.3
  billion in 2015, and is forecast to grow at 11.4
  CAGR from 2016 to 2023. Purchase decision is
  dependent on factors including hardware
  capability, software, product cost, quality and
  the associated technical support and service.
• These devices determine when and where
  maintenance is needed in order to take preventive
  action and avoid expensive production breakdowns,
  which will contribute to handheld imager market
  size.
• Construction applications will grow at 12.8 CAGR
  from 2016 to 2023. Developing infrastructure and
  rising need for implementing imaging solutions
  that are in line with other operations and
  processes are projected to fuel growth.

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Continued...

• Medical applications were valued at just over USD
  200 million in 2015. Considerable scope in
  patient diagnosis and monitoring will be
  responsible for expected growth across the
  sector.
• U.S. handheld imager market share was over 25 of
  the global revenue in 2015. Asia Pacific is
  expected to grow at the fastest rate over the
  forecast timeline.
• Use cases in the petrochemical industry include
  accurate and rapid diagnosis for furnace
  maintenance, condenser fin diagnosis and
  refractory loss management.
• Major competitors accounting for handheld imager
  market share include Zircon Corporation, FLIR
  Systems, and ULIS. As a part of their growth
  strategy, FLIR emphasizes on facilitating
  customer application through innovation and
  expanding presence into new markets by investing
  in product development and improving sales
  capabilities. ULIS emphasizes on innovation in
  order to offer compact and low-cost products,
  thereby enabling it to address new trends in
  energy efficienc

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U.S. handheld imager market share, by product,
2012-2023 (USD Million)

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360 Analysis

• Application Analysis
• Global handheld camera market share in security
  applications was over 35 in 2015, mainly due to
  rapid urbanization and increased security
  measures on a global scale. Professional
  surveillance demand and high investment in
  infrastructure systems are also responsible for
  revenue generation across the segment.
• Regional Analysis
• Asia Pacific handheld imager market share was
  approximately 22.5 of the global revenue in
  2015. Need for synchronization of operations and
  processes in order to reduce costs has resulted
  in growing adoption. Security applications such
  as detection of weapons, improvised explosives,
  containers with liquids and other suspicious
  objects concealed under clothing are set to
  surpass USD 250 million by 2023 in the regional
  industry.
• Competitive Market Share
• Key players for the handheld camera market
  include FLIR Systems, Zircon Corporation, ULIS,
  etc. Manufacturers focus on product
  differentiation on the basis of technology and
  performance, as well as target emerging
  applications to leverage growth opportunities.

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