The global
handheld imagers industry is driven by the improving manufacturing process and
advancements in technology. Companies invest enormously in research and
development operations for offering innovative products to sustain in the
handheld imagers market. Companies are focusing on improving and ensuring
robust distribution channel and enhanced technical services in order to achieve
maximum profits. Handheld imagers provide various benefits such as barcode
scanning, age verification and document scanning. The companies provide
different types of handheld scanners that suit the requirement of the users.
The most prominent among them is the handheld thermal imager. They are very
popular in many industries and applications as a non-contact temperature measurement
device including HVAC, automotive, building, inspection, energy audits, plant
maintenance, electrical contractors, insulation experts and many more. These
handheld imagers provide various features such as voice annotation, video
output, and resolution and image refresh rate.
Declining handheld
imager market price trend is anticipated to increase the demand across
several industry verticals. Increasing R&D investments have also
contributed to low production cost thereby improving manufacturing technique.
Product miniaturization to address the growing demand for light portable
devices will drive the industry growth over a forecast period.
Market Size and Forecast
The global handheld imagers market was valued at USD 1.6 billion in 2016
and is expected to reach USD 5 billion in 2024, growing at a CAGR of 13% during
the forecast period.
The major reasons that will drive the growth of the market include the escalating
terror attacks and criminal nuisances across the globe. The 9/11 attack have
significantly impacted the demand for the handheld imagers. Moreover, security
concerns, especially at airports and stations due to the heavy crowd, are
propelling the demand for handheld imagers across the globe. Moreover, the
advancements in technology such as infrared imaging will push the market to the
global level. North America will dominate the market due the adoption of
millimeter wave technology, followed by Asia Pacific and Europe. The Europe and
Asia Pacific will witness substantial growth over the forecast period owing to
growing security concerns across the regions. Asia Pacific with the highest
number of patents for microbolometers is anticipated to witness considerable
growth over the forecast period. The Asia-Pacific market is growing with robust
growth rate, as compared to other regions for microbolometer IR detector market
due to its continuous economic growth and large manufacturing base.
Market Segmentation
Our
in–depth analysis of the global handheld imagers market includes the following
segments:
By Product:
·
IR
scanners
·
Stud
Finders
·
Millimeter
wave scanners
·
Microbolometers
By
Application:
·
Construction
·
Industrial
·
Security
·
Medical
·
Others
The Global
Handheld Imagers are further classified on the basis of region as follows:
By Region:
·
North
America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity
Analysis
·
Latin
America (Brazil, Mexico, Rest of Latin America) Market size, Y-O-Y growth &
Opportunity Analysis
·
Western
and Eastern Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium,
Netherlands & Luxembourg, Rest of Western Europe) Market size, Y-O-Y growth
& Opportunity Analysis
·
Asia-Pacific
(China, India, Japan, Singapore, Australia, New Zealand, Rest of Asia) Market
size, Y-O-Y growth & Opportunity Analysis
·
Middle
East and Africa (China, India, Japan, Singapore, Australia, New Zealand, Rest
of Asia) Market size, Y-O-Y growth & Opportunity Analysis
Growth Drivers and Challenges
The growth
of the global
handheld imagers market is driven by its growing adoption in untapped
application areas. New innovative products have significantly offered the scope
for handheld images in several application sectors such as security, medical
and industrial areas. Further, the increasing demand across security industry
is likely to push the market to the global level. The increasing demand is
accredited to the rising security concern in areas including government and
airports. Moreover, the ability to locate, track and capture criminal in
adverse conditions may drive the market demand. Increasing scope of
applications including medical, industrial and security is anticipated to drive
the demand for handheld imagers during the forecast period. The rising
terrorism threat and criminal activity are influencing the market growth. The
abilities of the imager in sector to diagnose patient’s body, inner ears or the
health of the patients’ retina may increase the demand across the medical
space. Further, technological innovation has led miniaturization and
development of lightweight handheld managers, which is expected to positively
impact the market growth over the forecast period. Availability of cost-effective
handheld imagers due to mass production and a wide range of special
applications integrating this technology will lead to the growth of the market.
Moreover, the high investment for the development of camera based scanners also
contributing towards the growth of handheld imagers market. The advanced and
competitive barcode reader scanner has industrial features to increase
accuracy, productivity and user friendly operation. Camera-based solutions
provide high price-performance ratio and are user-friendly. This is further
anticipated to provide new avenues for market growth in the forecast period.
However, the technical misspecification regarding handheld imagers is expected
to pose a challenge to market growth.
Infrared
scanner market share is expected to dominate the market over the forecast
period accredited to the high degree of usage among various applications.
Features such as error reduction, inventory control and time savings may
increase the adoption over the forecast period.
Key Players
·
Zircon
Corporation
o Company Overview
o Key Product Offerings
o Business Strategy
o SWOT Analysis
o Financials
·
Fluke
Corporation
·
FLIR
·
Stanley
Black and Decker
·
Franklin
Sensors
·
Raytek
·
Sago
Systems
·
BAE
Systems
·
CH
Hanson
·
Bosch
Scope and Context
Overview
of the Parent Market
Analyst
View
Segmentation
The Global
Handheld Imagers Market is segmented as follows:
·
By
Product Market Size & Y-O-Y Growth Analysis
·
By
Application Market Size & Y-O-Y Growth Analysis
Market
Dynamics
Supply
& Demand Risk
Competitive
Landscape
Porter’s
Five Force Model
Geographical
Economic Activity
Key
Players (respective SWOT Analysis) and their Strategies and Product Portfolio
Recent
Trends and Developments
Industry
Growth Drivers and Challenges
Key
Information for Players to establish themselves in current dynamic environment
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Ajay
Daniel
Email:
ajay.daniel@researchnester.com
U.S. +1 646 586 9123
U.K. +44 203 608 5919
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