Product segmentation of the handheld imager market indicates that stud finders will experience a CAGR of approximately 12% during the forecast timespan as they aid the construction industry in the accurate location of framing studs behind walling surfaces. Millimeter scans are largely used in malls, airports and wide public spaces for the conduction of full body scans in short time durations. IR scanners in the handheld imager market are predicted to exhibit a decline in product prices and high adoption across various sectors such as construction and security.
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Escalating terrorist attacks and criminal nuisances across the globe will push global handheld imagers market. Security concerns, especially at airports and stations due to the heavy crowd, is propelling the demand for handheld imagers across the globe. With the advent of technology, these imagers provide excellent features, such as barcode scanning, age verification, document scanning. Furthermore, prominent industry players are continuously investing in research activities to propose new thermal camera-based handheld imagers that will combat the fierce situational threat by ensuring adequate security. According to Global Market Insights Inc.,” Handheld Imager Market, worth over USD 1.48 billion in 2015, is projected to grow significantly at a CAGR of 12% over the period 2016-2023.”
The rising trend of miniaturization and need for increasing the range of these equipment has led to rapid development in the handheld imager market to cater to this demand. Technological advancements have led to the rise of infrared imaging, and the ability to use these equipment in the dark and smoke. The usage of cost-efficient raw materials such as amorphous silicon in the manufacturing of these devices is also expected to fuel the decline in the overall market prices and propel market.
High demand for handheld imagers in security applications is a major factor contributing to the 35% market share in 2015. The surge in demand is due to government mandates for the prevention of terrorist and criminal activities in high risk areas. Penetration of these technologies in the healthcare segment is attributed to the growing shift towards Electronic Health Records (EHR) and the product’s capabilities to analyze the patient’s body, ears and the retinas is predicted to heighten the demand.
North America handheld imager market accounted for the largest share in terms of revenue in 2015, and is poised to grow significantly at a CAGR of 12% over the period 2016-2023. High prevalence of criminal activities will prompt handheld imagers market to prosper in this region. Strict regulatory framework regarding security concerns at airports will stimulate U.S. handheld imagers industry.
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Asia Pacific market is anticipated to witness noteworthy growth at an annual CAGR of 13% over 2016 -2023. High-security requirements will also enhance the regional demand. Moreover, the rising need to synchronize the scanning process to achieve overall cost reduction will result in substantial growth in India and China handheld imagers industry. Ability to detect weapons, explosives, and other dangerous objects will also propel the regional demand.
Some of the notable players of the Handheld Imager Market include Bosch, DRS Technologies, Zircon Corporation, Fluke Corporation, FLIR, Stanley Black & Decker and ULIS.
Major Key Points from Table of Content:
Chapter 4 Handheld Imager Market Product Insights
4.1. Handheld imager market share by product, 2015 & 2023
4.2. IR scanner
4.2.1. Market estimates and forecasts by region, 2012 – 2023
4.3. Millimeter wave scanner
4.3.1. Market estimates and forecasts by region, 2012 – 2023
4.4. Stud finder
4.4.1. Market estimates and forecasts by region, 2012 – 2023
4.5.1. Market estimates and forecasts by region, 2012 – 2023
Chapter 5 Handheld Imager Application Insights
5.1. Handheld imager market share by application, 2015 & 2023
5.2.1. Market estimates and forecasts by region, 2012 – 2023
5.3.1. Market estimates and forecasts by region, 2012 – 2023
5.4.1. Market estimates and forecasts by region, 2012 – 2023
5.5.1. Market estimates and forecasts by region, 2012 – 2023
5.6.1. Market estimates and forecasts by region, 2012 – 2023
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