Title: Handheld Imager Market size to exceed revenue of USD 3.77 billion by 2023, at 12% CAGR by 2023
1Handheld 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
2 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.
3Continued...
- 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
4U.S. handheld imager market share, by product,
2012-2023 (USD Million)
5 Browse Full Market Research Report of Handheld
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6 360 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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