According to a research report "Infrared Thermometer Market by Type (Fixed, Portable), Component (Optical, Display & Interface Units), Application (Medical, Non-Medical), End-Use (Residential, Commercial, Industrial), and Geography - Global Forecast to 2025", published by MarketsandMarkets, the infrared thermometer market is projected to reach USD 3.6 billion by 2025 from USD 2.3 billion in 2020; it is expected to grow at a CAGR of 9.2% from 2020 to 2025.
Browse 90 market data Tables and 53 Figures spread through 180 Pages and in-depth TOC on "Infrared Thermometer Market - Global Forecast to 2025"
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The major factors driving the market growth include the increasing number of COVID-19 patients and the rising adoption of infrared thermometers across the manufacturing sector and construction applications drive the growth of the infrared thermometer market. Opportunities for 2nd generation of infrared thermometers, rising R&D investmets by companies, and capital firms, to develop innovative thermal scanning solutions and infrared thermometers, rising adoption of infrared thermometers in HVAC and refrigeration applications provide significant opportunities for the infrared thermometer market.
Based on types, the portable segment of the infrared thermometers market is projected to grow at the highest CAGR from 2020 and 2025.
Based on types, the portable segment is expected to grow at the fastest rate in the infrared thermometer market. One factor for the high adoption of portable infrared thermometers is their use in industrial and commercial end uses. Handheld infrared thermometers are noncontact, inexpensive, easy to use devices that help in rapid temperature measurement. Due to COVID-19, handheld infrared thermometers are being widely used for temperature screening at various commercial places, as high body temperature is one of the symptoms of COVID-19.
Based on components, the optical components segment of the infrared thermometers market is projected to grow at the highest CAGR from 2020 and 2025.
By component, the optical components segment is expected to grow at the highest rate in the infrared thermometer market. Optical components, including detectors, are used to detect the reflected infrared energy, focus the radiation energy onto the IR detector, and filter out radiation outside the desired wavelength band.
Based on application, the medical segment of the infrared thermometers market is projected to grow at the highest CAGR from 2020 and 2025.
By application, the medical segment is expected to grow at the highest rate in the infrared thermometer market. The major factors for the growth of the medical application are the lower cost, higher accuracy, and rising adoption of infrared thermometers for temperature screening due to COVID-19. The handheld medical thermometers are expected to be widely adopted in the commercial end use segment. On the other hand, non-medical infrared thermometers are mainly used in the industrial end use segment.
Based on end-use, the commercial segment of the infrared thermometers market is projected to grow at the highest CAGR from 2020 and 2025.
By end-use, the commercial segment is expected to grow at the highest rate in the infrared thermometer market. The commercial segment is expected to grow primarily due to the significant adoption in commercial segments such as hospitals and healthcare facilities, banks and financial institutions, retail, government, and hospitality sectors.
The infrared thermometer market in APAC is projected to grow at the highest CAGR from 2020 to 2025.
The infrared thermometer market has been studied for North America, Europe, Asia Pacific (APAC), and the Rest of the World (RoW). The market in APAC is expected to grow at the highest CAGR between 2020 and 2025. The market in APAC is expected to grow at the highest CAGR during the forecast period, and the region is expected to dominate the global market by 2025. The growth of the market in APAC is mainly due to the higher adoption of medical thermometers in commercial, industrial, and residential end use segments. Factors such as price-competitive market, availability of low-cost products, presence of local manufacturers, population growth, and investments in healthcare would also boost the market growth in APAC during the forecast period.
Fluke (US), FLIR (US), Testo (Germany), Omron (Japan), Microlife (Taiwan), Hill-Rom (US), Omega Engineering (US), PCE Instruments (UK), Chino Corporation (Japan), and AMETEK Land (UK) are some of the key players operating in the infrared thermometer market.
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