Over the forecast period of 2020 to 2030, the global rugged thermal camera market is set to grow at an astounding rate, compounded annually. It is set to propel market worth by a substantial value. And, this means that value pools will be created in the market which players will try to make the most of. Conditions such arthritis and increase in incidence of sports injuries is driving demand for these cameras. COVID-19 is also generating massive demand as these help in spotting suspect cases. However, it is quite pertinent to note here that a massive demand for these cameras comes from military and defense, where these are used for better security, border patrol, and use in drones.
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Global Rugged Thermal Camera Market: Competitive Landscape
The global rugged thermal camera market is teeming with players actively striving for higher revenue share. They are, therefore, employing new and innovative growth strategies in the market. In turn, these strategic maneuvers lead to shaping up the market’s future and how the fragmented vendor landscape would operate.
Companies that are active and aggressive in the rugged thermal camera market over the forecast period are the following:
- Leonardo SpA
- SKF
- Bosch Security Systems
- Flir Systems, Inc.
- BAE Systems
- L3 technologies Inc.
- Thermotecknix Systems Ltd.
- Axis Communication
- Raytheon Company
- Danaher Corporation
It is significant to note here that some of the consequential and therefore common strategies deployed my market players include massive research and development (R&D) activities, technological advancement, focus on innovation, and new product launch. Sometimes, players collaborate to combine key resources and to ensure capture of substantial market share.
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Global Rugged Thermal Camera Market: Key Trends and Drivers
Scores of minor and major trends and drivers are making way for notable growth in the market. Some of the prominent ones, as identified by Transparency Market Research, include the following. These are detailed out in a comprehensive manner in the upcoming market report.
- Technological advancement noted in the global rugged thermal camera market is a significant growth factor. Players in the market are highly focused on innovation in the market. This is leading to growth in demand for the same across industry verticals such as military and defense, healthcare, and so on. Massive demand for generators is arising from military and defense where these help in border patrol, security, and drones.
- COVID-19 is raging the global landscape and one of the major symptoms of this disease is fever. Use of rugged thermal camera is one of the most effective ways to scan suspect cases, especially at places such as hospitals, market, work places, and airports.
Global Rugged Thermal Camera Market: Regional Analysis
In global rugged thermal camera market, Asia Pacific region is set to be a lucrative market, topping the regional charts over the forecast period. The reasons that can be attributed to this growth would be increased spending in the defense sectors of a number of countries such as India and China. It is pertinent to note here that for India and China in particular, number of territorial disputes is growing and this is leading to demand for better security, generating demand for rugged thermal camera market. Also, the domino effect generated by these two nations is driving other countries to take appropriate steps, driving up demand for rugged thermal cameras.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
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