The global handheld imager market size is expected to value at USD 3.45 billion by 2022. The market is subject to witness a substantial growth due to the increasing demand from various end-user industry verticals. In addition, growing demand from untapped application areas is expected to foster the growth of handheld imagers industry over the forecast period. Rise in IT consumerization and development of advanced micro bolometers, led to the creation of application development landscape.
Massive spending for production of camera-based scanners is predicted to boost the handheld imagers market demand over the forecast period. Use of camera-based solutions offers a high performance ratio, cost-effectiveness and facilitate ease of use, thus propelling market growth over the next seven years. Globally, the handheld imagers industry is predicted to grow at higher CAGR in the forecast period, providing numerous opportunities for market players to invest for research and development in the market.
Technological innovation has led to the miniaturization and development of lightweight handheld imagers, which is expected positively impact market growth over the forecast period. Availability of cost effective handheld imagers owing to mass production, and a wide range of diverse applications integrating this technology are anticipated to be the key market drivers. Further, the handheld imagers market is also expected to witness growth owing to declining product price.
The handheld imagers industry is broadly categorized into four major segments based on the application type such as building & construction industry, industrial sector, security, and medicine sector. The building & construction industry is considered as one of the fastest growing segment in the market of handheld imagers with substantial revenue generation in the last few years. Growing popularity of handheld imagers in the building & construction segment is attributed to their several benefits such as lower cost, lower power consumption and lightweight quality.
The handheld imagers market is divided by region as North America, Europe, Asia-Pacific, Latin America and Africa. North America has shown major growth in recent years owing to the rise in the implementation of latest technologies in building & construction industry, increase in the number of government mandates that are pertaining to terrorist threats and aviation security, and existence of well-established manufacturing infrastructure in the region.
Asia-Pacific region is predicted to hold major market share in the handheld imagers with massive growth in forecast period. Countries such as India, China and Singapore are leading the Asia-Pacific market with strong economic growth, favorable government initiatives, and significant investment by leading industry players considering potential growth opportunities in the region. The key players in the handheld imager industry are ULIS, Inc., Fluke Co., Zircon Co., and FLIR Systems, Inc.
Handheld Imagers Product Outlook (Revenue, USD Million, 2012 - 2022)
• Stud finders
• IR scanners
• Millimeter wave scanners
Handheld Imagers Application Outlook (Revenue, USD Million, 2012 - 2022)
Handheld Imagers Regional Outlook (Revenue, USD Million, 2012 - 2022)
• North America
• Asia Pacific
• Latin America
• Middle East & Africa
Research Support Specialist, USA