According to a recent study from market research firm Global Market Insights, the thermal imaging market has emerged as one of the most profitable niche verticals of the global electronics and media industry.
Uncooled technology is also gaining popularity in this business sphere. The recent developments in the technology have resulted in the widescale adoption of thermal imaging devices in a diverse set of applications along the likes of personal vision systems, industrial imaging, residential security and surveillance.
The uncooled technology segment of the thermal imaging industry has been making swift progress in recent years, with the overall revenue collection of the segment estimated at $2.5 billion in 2017. The unveiling of more cost-effective products would further enhance the stance of uncooled technology segment in the thermal imaging market space, according to Global Market Insights.
Technological developments apart, it is vital to note that the high cost of thermal imaging devices such as cooled cameras is likely to hinder the industry expansion over the estimated timeframe. However, renowned thermal imaging market players have been focused on research and development activities that would likely bring down the prices of several imaging devices in the forthcoming years.