Dublin, Nov. 04, 2021 (GLOBE NEWSWIRE) -- The "Global Infrared Thermometer Market By Type, By Component, By Application, By End User, By Region, Industry Analysis and Forecast, 2020 - 2026" report has been added to ResearchAndMarkets.com's offering.
The Global Infrared Thermometer Market size is expected to reach $3.8 billion by 2026, rising at a market growth of 7.9% CAGR during the forecast period. An infrared thermometer refers to a thermometer that takes the help of thermal radiation with the aim to display temperature. Thermal radiation is sometimes also known as black-body radiation released by the measuring object. In order to take non-contact measurements of objects that have current, objects in motion, and at high temperatures, an infrared thermometer is considered as an effective device. Infrared thermometers are effective to monitor the temperature in those applications where conventional sensors cannot be used.
One of the major factors that support the global demand for infrared thermometers is the ability of these thermometers to take the non-contact measurement of objects. Also, infrared thermometers have gained immense popularity as they provide features such as easy handling & smooth operation. Infrared (IR) Technology finds potential application in several electronic devices like sensors, cameras, remote-controlled devices, and others, therefore the technology has a high adoption rate for temperature measurement in several industries. For example, new factories are encouraged to deploy Infrared based temperature measuring devices as there is a need to maintain the right temperature of raw material & end-product during the production of any food & beverage item.
The major reason for the spread of the COVID-19 is close contact from person to person, including between people who are close to each other physically (range of 6 feet). Infected people without any symptoms can also increase the transmission of the virus to others. Instances of reinfection with COVID-19 have also been witnessed, but such instances are not very frequent. Infrared thermometers are capable of measuring thermal radiation (infrared) that is emitted from the forehead & ear to estimate body temperature.
Based on Type, the market is segmented into Fixed Infrared Thermometer and Portable Infrared Thermometer. The Portable Infrared Thermometer market dominated the Global Infrared Thermometer Market by Type 2019, growing at a CAGR of 6.8 % during the forecast period. The Fixed Infrared Thermometer market is expected to witness a CAGR of 9.7% during (2020 - 2026).
Based on Component, the market is segmented into Display & Control Units, Electronics, Optical Components and Others. The display & interface unit segment is expected to procure the highest revenue share during the forecast period. A display contains a backlight & a screen, which can be either an LED display or an LCD. A few of the infrared thermometers have a 0-20 mA or 4-20 mA current loop or while others generate voltage output thermocouple output. The Display and Control Units differ based on the kind of infrared thermometer.
Based on Application, the market is segmented into Non-medical and Medical. The medical application segment is expected to showcase a prominent growth rate with respect to value during the forecast period. The reduced cost, superior accuracy & the increasing adoption of infrared thermometers for temperature monitoring due to the COVID-19 are some of the aspects that align with the growth of the medical application.
End User Outlook
Based on End User, the market is segmented into Industrial, Commercial and Residential. On the basis of end-use, the industrial segment is expected to obtain the highest share, while the commercial segment is expected to display a substantial growth rate. The high adoption rate of infrared thermometers in industrial processing, industrial manufacturing, and other such industrial categories are responsible for the growth of the industrial segment.
Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. In 2019, APAC emerged as the dominating region in terms of revenue. This is ascribed to technological developments & the high installation rate of technology in various industries. The APAC regional market is expected to showcase a significant growth rate during the forecast period, fuelled by the high adoption rate of infrared thermometers in various sectors, like commercial and industrial.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Fortive Corporation (Fluke Corporation), Spectris PLC (Omega Engineering), Omron Corporation, Hill-Rom Holdings, Inc., Robert Bosch GmbH, Horiba Ltd., Emerson Electric Co., Chino Corporation, Microlife Corporation (Midas Company Limited), and Optris GmbH.
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Key Topics Covered:
Chapter 1. Market Scope & Methodology
Chapter 2. Market Overview
2.1.2 Market Composition and Scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
Chapter 3. Global Infrared Thermometer Market by Type
3.1 Global Portable Infrared Thermometer Market by Region
3.2 Global Fixed Infrared Thermometer Market by Region
Chapter 4. Global Infrared Thermometer Market by Component
4.1 Global Infrared Thermometer Display & Control Units Market by Region
4.2 Global Infrared Thermometer Electronics Market by Region
4.3 Global Infrared Thermometer Optical Components Market by Region
4.4 Global Other Component Infrared Thermometer Market by Region
Chapter 5. Global Infrared Thermometer Market by Application
5.1 Global Non-medical Infrared Thermometer Market by Region
5.2 Global Medical Infrared Thermometer Market by Region
Chapter 6. Global Infrared Thermometer Market by End-use
6.1 Global Industrial Infrared Thermometer Market by Region
6.2 Global Commercial Infrared Thermometer Market by Region
6.3 Global Residential Infrared Thermometer Market by Region
Chapter 7. Global Infrared Thermometer Market by Region
Chapter 8. Company Profiles
8.1 Fortive Corporation (Fluke Corporation)
8.1.1 Company Overview
8.1.2 Financial Analysis
8.1.3 Segmental and Regional Analysis
8.1.4 Research & Development Expense
8.1.5 Recent strategies and developments
22.214.171.124 Product Launches and Product Expansions
8.2 Spectris PLC (Omega Engineering)
8.2.1 Company Overview
8.2.2 Financial Analysis
8.2.3 Segmental Analysis
8.2.4 Research & Development Expense
8.2.5 Recent strategies and developments
126.96.36.199 Product Launches and Product Expansions
8.3 Omron Corporation
8.3.1 Company Overview
8.3.2 Financial Analysis
8.3.3 Segmental and Regional Analysis
8.3.4 Research & Development Expense
8.3.5 Recent strategies and developments
188.8.131.52 Product Launches and Product Expansions
8.3.6 SWOT Analysis
8.4 Hill-Rom Holdings, Inc.
8.4.1 Company Overview
8.4.2 Financial Analysis
8.4.3 Segmental and Regional Analysis
8.4.4 Research & Development Expense
8.5 Robert Bosch GmbH
8.5.1 Company Overview
8.5.2 Financial Analysis
8.5.3 Segmental and Regional Analysis
8.5.4 Research & Development Expense
8.5.5 SWOT Analysis
8.6 Horiba Ltd.
8.6.1 Company Overview
8.6.2 Financial Analysis
8.6.3 Segmental and Regional Analysis
8.6.4 Research & Development Expense
8.7 Emerson Electric Co.
8.7.1 Company Overview
8.7.2 Financial Analysis
8.7.3 Segmental and Regional Analysis
8.7.4 Research & Development Expense
8.7.5 Recent strategies and developments
184.108.40.206 Product Launches and Product Expansions
8.7.6 SWOT Analysis
8.8 Chino Corporation
8.8.1 Company Overview
8.8.2 Recent strategies and developments
220.127.116.11 Product Launches and Product Expansions
8.9 Microlife Corporation (Midas Company Limited)
8.9.1 Company Overview
8.10. Optris GmbH
8.10.1 Company Overview
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