Handheld Imager Market to grow at 12% CAGR from 2016 to 2023

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Global Handheld Imager Market to surpass 3.5bn
by 2023 Fractovia.org
Fuel Cell Market size worth 25.5bn by 2024
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Key Insights of Handheld Imager Market

• Increasing criminal nuisances and terrorists
  attack across the globe is pushing handheld
  imagers market. Driven by the rising security
  concerns especially in areas like railway
  stations and airports due to the heavy public
  pool, these upgraded imagers are widely
  implemented to combat the fierce potential
  threat.
• Technological advancements have also resulted in
  upgrading the product features which in turn is
  stimulating the overall market outlook. According
  to Global Market Insights, Inc., Global
  handheld imagers market generated a revenue of
  USD 1.48 billion in 2015 and is slated to witness
  a lucrative CAGR of 12 over the period of 2016 -
  2023.
• Considering the product segment, handheld imagers
  market is mainly segmented into stud finder,
  millimeter waves scanner, microbolometer, and IR
  scanner. IR scanner market is anticipated to
  dominate the overall industry in coming years,
  owing to the benefits offered by these scanners
  such as inventory control, time saver, and error
  reduction.

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Continued

• Millimeter wave scanner handheld imagers market
  will also grow significantly at an annual rate of
  17 over the coming six years. The growth can be
  credited to its growing implementation across the
  governmental and commercial sectors. Moreover,
  these products are also extensively used in
  airports to ensure passengers adequate security.
  This, in turn, is catalyzing global handheld
  imagers industry.
• The primary application areas of handheld imagers
  market are security, medical, construction, and
  industrial. The market from medical applications
  is predicted to experience considerable growth in
  the years ahead, owing to its increasing
  requirement in monitoring patients health.
  Security applications dominated the market
  accounting for more than 35 of the total volume
  in 2015 and is expected to remain a leading
  application sector over the period 2016-2023.
• The increasing need for safety and security along
  with rapid urbanization will augment the industry
  growth in this sector. The government is
  investing heavily in the security systems at the
  high alert areas such as stations and airports to
  limit the terrorists attack.

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Europe Handheld Imager Market size, by
application, 2012-2023 (USD Million)
Europe Handheld Imager Market size, by
application, 2012-2023 (USD Million)

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Continued.

• Geographically, Europe handheld imagers industry
  will register substantial growth rate over the
  coming six years, owing to the growing usage of
  thermal detection technology such as silicon
  microbolometer. Asia pacific handheld imagers
  market share will grow noticeably with an annual
  growth rate of more than 13. The growth can be
  attributed to its surging demand for high
  security. China and India will contribute
  significantly toward the APAC regional revenue.
  Handheld imagerss are majorly used for military
  applications in these regions.
• North America handheld imagers market led the
  global landscape in 2015 and will exhibit
  substantial annual growth rate of around 12 over
  the period of 2016 to 2023, primarily driven by
  the implementation of strict governmental norms
  to install handheld imagers for the security
  purpose. U.S. is projected to be the prime
  revenue pocket for North America.
• Handheld imagers industry is highly competitive
  with the growing number of new entrants in the
  business space. Product differentiation and
  competitive pricing will remain the two most
  distinguishing factors for the players to sustain
  their market position. The notable participants
  in handheld imagers market are Fluke Corporation,
  Robert Bosch GmbH, DRS Technologies, Zircon
  Corporation, FLIR Systems, Stanley Black
  Decker, and ULIS IR.

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