The Thermal Imaging Camera Market Is Thriving, and Activity Within The Infrared Imaging Software Sector Is Forecast To Rising Over 10% by 2021
Cloud-based services are a must with many businesses nowadays, and the thermal imaging camera industry is one market certainly getting in on the act. A number of government organizations and large companies are increasingly adopting cloud-based services to ensure a centralized and searchable database of historical records. Cloud-based services can be used across the globe regardless of time or location. Researchers have estimated that the global thermal imaging camera sector will grow at a CAGR of an impressive 11.62% in just four years’ time.
In regards to the report on the thermal imaging market, another main catalyst in the industry is said to be the increasing adoption of surveillance. Thermal imaging binoculars and cameras use infrared radiation as opposed to the visible light used in traditional cameras. These cameras are used by the likes of firefighters in order to best detect the areas of heat through smoke, darkness and heat-permeable barriers. Of course, such genius cameras come at a price, they’re both heat and water resistant to withstand the hazards surrounding fire-ground operations. Following increased government grants to fire and police department for surveillance equipment, the use of thermal imaging cameras has increased.
One of the main challenges the market faces is intense vendor competition. The raw materials of thermal imaging cameras are continuously increasing and with competition among vendors continuing to rise, the profit margins of vendors in the market are expected to decline. And what’s more, the growth of the industry is attracting more and more vendors, however, this does not create a vicious cycle of competition. This is because new vendors place their focus more on the requirements of end-users, developing security solutions based on the requirements of customers and in turn, this makes them a preferable choice over the so-called leading vendors.
Further to this, a report titled “The Global System Infrastructure Revenue Market 2017-2021” found that another driver in the marker is an increasing shift towards service oriented architecture. Service oriented architecture provides IT framework for businesses so they can manage their IT networks with greater flexibility. It allows companies to apply cloud-based solutions in a clear and concise manner, also taking less time for implementation. Regarding the global system infrastructure market, the leaders are some of the most popular brands in the world including Microsoft, Google, AWS, IBM, and Oracle. Other major vendors include the likes of CA, Qlik, Apprenda and Engine Yard to name a few.
Another noticeable trend within the thermal imaging camera market is the emergence of the database as a service. This is a cloud-based database management system that offers flexible storage.