According to the MarkNtel Advisors’ research report, “Middle East and North Africa Thermal Camera Market Analysis, 2021," the market is likely to grow at a CAGR of 13% during 2021-26 due to extensive applications of thermal cameras ranging from military to personal handheld cameras to smartphones. Integration of thermal cameras into predictive maintenance by industries helps analyze machine failures, which could cause expensive losses, hence, eventually resulting in cost-saving. Further, development in surveillance technology is boosting the demand for a thermal camera. However, the high initial investment required for installing thermal cameras is the biggest challenge that could hamper their market growth.
Key questions answered in the study
Cooled Segment Exhibits Fastest Growth
Within the technology, the market bifurcates into cooled and uncooled segments. Among these segments, Cooled Thermal Cameras are likely to witness the fastest growth during the forecast period owing to the benefits offered by cooled thermal cameras like high resolution and sensitivity. These cameras have an imaging sensor, onboard image processor, and a cryocooler that enables the detection of even the slightest temperature variations. Thus, the demand for cooled thermal cameras is likely to boom in the coming years.
“Middle East and North Africa Thermal Camera Market Analysis, 2021” provides comprehensive, qualitative, and quantitative insights on the market potential, key factors impacting the market growth, hotspots, and opportunities available for thermal camera providers across the country. Moreover, the report also encompasses the key strategic imperatives for competitors' success and strategic factorial indexing to measure their capabilities on 16 parameters, which would further help companies formulate 'Go to Market' strategies and identify the blue ocean for their offerings.
Saudi Arabia Exhibits Fastest Growth
Saudi Arabia is likely to register the fastest growth in the Middle East and North Africa Thermal Camera Market during the forecast period, i.e., 2021-26. After the Covid-19 pandemic, the thermal camera market in Saudi Arabia has witnessed tremendous growth due to surging initiatives by the government toward placing thermal cameras in public places to ensure safe tourism. Hence, this contributes to the overall market growth in the forecast period, reveals MarkNtel Advisors in their research report, "Middle East and North Africa Thermal Camera Market Analysis, 2021."
According to MarkNtel Advisors, the key market leaders in the Middle East & North Africa Thermal Camera Market are Flir System, Thermoteknix Systems Ltd., Leonardo S.p.A., Synectics plc, Seek Thermal, InfraTec GmbH Infrarotsensorik, Axis Communications AB, Opgal Optronic Industries Ltd., etc.