Thermal Scanner Market Report, Global Industry Analysis, Market Size, Share, Growth Trends, Regional Outlook, Competitive Strategies and Segment Forecasts 2023 - 2030

  • Published Date: Jan, 2024
  • Report ID: CR0207146
  • Format: Electronic (PDF)
  • Number of Pages: 222
  • Author(s): Joshi, Madhavi

Report Overview

The Thermal Scanner Market size was estimated at USD 1.2 billion in 2023 and is projected to reach USD 2.2 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 9.00% during the forecast period (2024-2030).

Thermal Scanner Market

(Market Size)
$1.2 billion
$2.2 billion
2023
2030
Source: Citius Research
Study Period 2018 - 2030
Base Year For Estimation 2023
Forecast Data Period 2024 - 2030
CAGR (2024-2030) 9.00%
2023 Market Size USD 1.2 billion
2030 Market Size USD 2.2 billion
Key Players Fluke Corporation, FLIR Systems, Testo, Keysight Technologies, Optris

Market Summary

The thermal scanner market is a critical segment within the machinery and equipment industry, focused on devices that detect and measure infrared radiation to produce temperature readings and visual heat maps. These systems are integral across numerous sectors for applications ranging from predictive maintenance and quality control to security screening and medical diagnostics. The market is characterized by continuous technological advancements, including the integration of artificial intelligence and IoT connectivity, which enhance the accuracy, functionality, and data analysis capabilities of thermal imaging devices. Key participants include established manufacturers and innovative startups, all competing to offer more efficient, cost-effective, and user-friendly solutions. The demand for thermal scanners has been notably influenced by global health concerns, industrial automation trends, and increasing emphasis on non-destructive testing methods. As industries prioritize safety, efficiency, and operational reliability, thermal scanners have evolved from niche tools to essential instruments in both commercial and industrial environments.

Key Highlights

The thermal scanner market is distinguished by several key factors that underscore its growth and relevance. A primary highlight is the rapid adoption of advanced imaging technologies, such as uncooled infrared detectors, which offer higher resolution and sensitivity at lower costs. This technological progression has expanded accessibility across small and medium enterprises. Another significant aspect is the diversification of applications; beyond traditional industrial and military uses, thermal scanners are now prevalent in healthcare for fever screening, in automotive for driver assistance systems, and in building diagnostics for energy efficiency audits. The market also benefits from stringent regulatory standards and safety protocols across industries, which mandate the use of reliable temperature monitoring and non-contact inspection tools. Moreover, the increasing integration of thermal data with software platforms for predictive analytics and real-time monitoring represents a major trend, enabling proactive maintenance and reducing downtime. Partnerships and collaborations between thermal imaging companies and software developers are further accelerating innovation and market penetration.

Drivers, Opportunities & Restraints

The growth of the thermal scanner market is propelled by several drivers, including the rising demand for non-contact temperature measurement solutions across healthcare, industrial, and commercial sectors. This demand has been particularly accentuated by global health crises, where thermal scanners became essential for mass screening. Additionally, increasing industrial automation and the need for predictive maintenance in manufacturing processes drive adoption, as thermal imaging helps in early fault detection and prevents equipment failures. Opportunities in the market are abundant, especially with the expansion into new application areas such as smart homes, autonomous vehicles, and agricultural monitoring. The development of low-cost, portable thermal scanners opens avenues for consumer and small business use. However, the market faces restraints including high initial costs for advanced systems, which can limit adoption in cost-sensitive regions. Technical challenges related to accuracy in extreme environmental conditions and the presence of alternative technologies like ultrasonic and laser-based measurement tools also pose constraints. Intellectual property issues and the need for specialized training to operate and interpret thermal data further impact market growth.

Concentration Insights

The thermal scanner market exhibits a concentrated competitive landscape with a mix of large, established players and specialized niche companies dominating various segments. Key global players such as FLIR Systems, now part of Teledyne Technologies, hold significant market share due to their extensive product portfolios, strong R&D capabilities, and global distribution networks. Other prominent companies include Seek Thermal, Axis Communications, and Bosch Security Systems, which focus on specific applications like security and automotive. The market concentration is higher in regions with advanced technological infrastructure, such as North America and Europe, where these major players are headquartered. However, there is also a growing presence of manufacturers in Asia-Pacific, particularly in China and Japan, offering cost-competitive solutions. The competitive dynamics are influenced by continuous innovation, mergers and acquisitions, and strategic partnerships aimed at expanding technological capabilities and geographic reach. Smaller companies often concentrate on niche applications or offer customized solutions, creating a fragmented yet collaborative ecosystem.

Type Insights

Thermal scanners are categorized based on technology and portability, with key types including handheld, fixed-mounted, and unmanned aerial vehicle (UAV)-mounted systems. Handheld thermal scanners are widely used for their flexibility and ease of use in field applications such as electrical inspections, building diagnostics, and emergency services. Fixed-mounted systems are typically employed in continuous monitoring scenarios, such as industrial process control, perimeter security, and transportation hubs, where permanent installation is necessary for round-the-clock surveillance. UAV-mounted thermal scanners represent an emerging segment, gaining traction in applications like large-scale agricultural monitoring, infrastructure inspection, and search and rescue operations, offering the advantage of covering vast areas quickly. Additionally, thermal scanners vary based on detector type, such as cooled and uncooled infrared detectors, with uncooled detectors being more common due to their lower cost and maintenance requirements. The choice of scanner type depends on factors like required accuracy, environmental conditions, and specific application needs.

Application Insights

Thermal scanners find applications across a diverse range of industries, each leveraging the technology for specific purposes. In industrial manufacturing, they are used for predictive maintenance to detect overheating in machinery, electrical systems, and pipelines, preventing failures and enhancing operational safety. The healthcare sector utilizes thermal scanners for non-contact fever screening and diagnostic imaging, particularly in public health and clinical settings. In security and surveillance, these devices enable night vision, intrusion detection, and perimeter monitoring, especially in low-light conditions. The automotive industry integrates thermal scanners into advanced driver-assistance systems (ADAS) for improved pedestrian detection and collision avoidance. Building and construction applications include energy audits by identifying heat leaks and insulation defects. Additionally, thermal scanners are employed in research and development, firefighting, and law enforcement. Each application demands specific features, such as high resolution for detailed analysis or rugged design for harsh environments, driving continuous product development and customization.

Regional Insights

The adoption and growth of the thermal scanner market vary significantly across regions, influenced by economic development, industrial base, and regulatory frameworks. North America represents a major market, driven by high technological adoption, stringent safety regulations, and significant investments in defense and healthcare sectors. The United States is a key contributor, with strong presence of leading manufacturers and extensive use in industrial and security applications. Europe follows closely, with countries like Germany, the UK, and France emphasizing industrial automation and energy efficiency, boosting demand for thermal scanners in manufacturing and building diagnostics. The Asia-Pacific region is experiencing rapid growth, fueled by expanding industrialization, infrastructure development, and increasing healthcare expenditure in countries such as China, India, and Japan. Latin America and the Middle East & Africa are emerging markets, where growth is spurred by investments in security infrastructure and oil & gas industries, though adoption is slower due to economic constraints. Regional policies and economic conditions continue to shape market dynamics and opportunities.

Company Insights

The thermal scanner market features several key companies that lead in innovation, market share, and geographic presence. Teledyne FLIR is a dominant player, known for its comprehensive range of thermal imaging products for military, industrial, and commercial applications, with a strong focus on R&D and technological advancements. Seek Thermal specializes in affordable, consumer-oriented thermal cameras, making the technology accessible to a broader audience. Axis Communications offers thermal network cameras for security and surveillance, integrating advanced analytics and connectivity features. Bosch Security Systems provides thermal imaging solutions for critical infrastructure and public safety applications. Other notable companies include Fluke Corporation, which focuses on industrial maintenance tools, and Opgal, known for its automotive and security thermal systems. These companies compete through product innovation, strategic acquisitions, and expansions into emerging markets. They also engage in partnerships with software firms to enhance data analysis capabilities, ensuring their offerings meet evolving customer needs for integration and smart functionality.

Recent Developments

Recent developments in the thermal scanner market highlight ongoing innovation and strategic movements among key players. There has been a significant push towards miniaturization and enhanced portability, with companies introducing compact, smartphone-compatible thermal cameras that offer professional-grade features at lower price points. Integration of artificial intelligence and machine learning algorithms is another major trend, enabling automatic anomaly detection, pattern recognition, and predictive analytics in thermal imaging data. Additionally, the market has seen increased mergers and acquisitions, such as Teledyne's acquisition of FLIR Systems, which combined expertise to expand product offerings and market reach. Companies are also focusing on developing multi-spectral imaging systems that combine thermal with visual and other sensor data for comprehensive analysis. In response to global health needs, many manufacturers have accelerated the production of thermal scanners for fever screening, incorporating features like crowd analytics and temperature alarming. Sustainability initiatives are gaining traction, with efforts to reduce the environmental impact of manufacturing processes and improve energy efficiency of the devices themselves.

Report Segmentation

This market research report on the thermal scanner market provides a detailed segmentation to offer comprehensive insights into various aspects of the industry. The report is segmented by type, covering handheld, fixed-mounted, and UAV-mounted thermal scanners, each analyzed for their market dynamics and growth prospects. It further segments by technology, distinguishing between cooled and uncooled infrared detectors, with analysis on adoption trends and technological advancements. Application-based segmentation includes industrial maintenance, healthcare screening, security & surveillance, automotive, building diagnostics, and others, providing insights into demand patterns and future opportunities in each sector. Regional segmentation covers North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa, highlighting geographic trends, key countries, and regional factors influencing market growth. The report also includes segmentation by end-user industry, such as manufacturing, healthcare, government & defense, automotive, and commercial sectors, offering a granular view of customer base and application-specific requirements. This structured approach ensures a thorough understanding of market nuances and facilitates strategic decision-making for stakeholders.

FAQs

How does a thermal scanner work? Thermal scanners detect infrared radiation emitted by objects and convert it into a visual image representing temperature variations. They use sensors like microbolometers to measure heat signatures, creating a thermogram that displays hotter areas as brighter colors and cooler areas as darker shades, enabling non-contact temperature assessment and analysis.

What are the applications of thermal scanners? Thermal scanners are used in numerous applications including industrial predictive maintenance to identify overheating equipment, healthcare for fever screening and diagnostics, security and surveillance for night vision and intrusion detection, automotive for ADAS features, building inspections for energy efficiency, and firefighting for locating hotspots and victims.

What is the difference between thermal and night vision? Thermal imaging detects heat signatures and does not require any light, making it effective in total darkness, through smoke, and in adverse weather conditions. Night vision amplifies available light, such as moonlight or starlight, but requires some ambient light and cannot see through obstructions like smoke or fog.

Are thermal scanners safe to use? Yes, thermal scanners are safe as they are passive devices that only detect infrared radiation emitted naturally by objects and do not emit any radiation themselves. They are non-invasive and pose no health risk, making them suitable for continuous use in various environments, including medical and public settings.

Can thermal scanners see through walls? No, thermal scanners cannot see through walls. They detect surface temperatures and can identify heat patterns on surfaces, but solid barriers like walls block infrared radiation, preventing them from seeing objects or people on the other side. They are effective for assessing insulation issues or detecting heat leaks on visible surfaces.

What factors affect the accuracy of thermal scanners? The accuracy of thermal scanners can be influenced by environmental conditions such as humidity, air temperature, and wind, which may affect heat detection. Other factors include the emissivity of the surface being measured, distance from the target, and the quality and calibration of the scanner itself. Proper usage and regular maintenance are essential for reliable results.

Citius Research has developed a research report titled “Thermal Scanner Market Report - Global Industry Analysis, Size, Share, Growth Trends, Regional Outlook, Competitive Strategies and Segment Forecasts 2024 - 2030” delivering key insights regarding business intelligence and providing concrete business strategies to clients in the form of a detailed syndicated report. The report details out the factors such as business environment, industry trend, growth opportunities, competition, pricing, global and regional market analysis, and other market related factors.

Details included in the report for the years 2024 through 2030

• Thermal Scanner Market Potential
• Segment-wise breakup
• Compounded annual growth rate (CAGR) for the next 6 years
• Key customers and their preferences
• Market share of major players and their competitive strength
• Existing competition in the market
• Price trend analysis
• Key trend analysis
• Market entry strategies
• Market opportunity insights

The report focuses on the drivers, restraints, opportunities, and challenges in the market based on various factors geographically. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report. The Thermal Scanner Market report is segmented on the basis of various market segments and their analysis, both in terms of value and volume, for each region for the period under consideration.

Thermal Scanner Market Segmentation

Market Segmentation

Regions Covered

• North America
• Latin America
• Europe
• MENA
• Asia Pacific
• Sub-Saharan Africa and
• Australasia

Thermal Scanner Market Analysis

The report covers below mentioned analysis, but is not limited to:

• Overview of Thermal Scanner Market
• Research Methodology
• Executive Summary
• Market Dynamics of Thermal Scanner Market
  • Driving Factors
  • Restraints
  • Opportunities
• Global Market Status and Forecast by Segment A
• Global Market Status and Forecast by Segment B
• Global Market Status and Forecast by Segment C
• Global Market Status and Forecast by Regions
• Upstream and Downstream Market Analysis of Thermal Scanner Market
• Cost and Gross Margin Analysis of Thermal Scanner Market
• Thermal Scanner Market Report - Global Industry Analysis, Size, Share, Growth Trends, Regional Outlook, Competitive Strategies and Segment Forecasts 2024 - 2030
  • Competition Landscape
  • Market Share of Major Players
• Key Recommendations

The “Thermal Scanner Market Report - Global Industry Analysis, Size, Share, Growth Trends, Regional Outlook, Competitive Strategies and Segment Forecasts 2024 - 2030” report helps the clients to take business decisions and to understand strategies of major players in the industry. The report delivers the market driven results supported by a mix of primary and secondary research. The report provides the results triangulated through authentic sources and upon conducting thorough primary interviews with the industry experts. The report includes the results on the areas where the client can focus and create point of parity and develop a competitive edge, based on real-time data results.

Thermal Scanner Market Key Stakeholders

Below are the key stakeholders for the Thermal Scanner Market:

• Manufacturers
• Distributors/Traders/Wholesalers
• Material/Component Manufacturers
• Industry Associations
• Downstream vendors

Thermal Scanner Market Report Scope

Report AttributeDetails
Base year2023
Historical data2018 – 2023
Forecast2024 - 2030
CAGR2024 - 2030
Quantitative UnitsValue (USD Million)
Report coverageRevenue Forecast, Competitive Landscape, Growth Factors, Trends and Strategies. Customized report options available on request
Segments coveredProduct type, technology, application, geography
Regions coveredNorth America, Latin America, Europe, MENA, Asia Pacific, Sub-Saharan Africa and Australasia
Countries coveredUS, UK, China, Japan, Germany, India, France, Brazil, Italy, Canada, Russia, South Korea, Australia, Spain, Mexico and others
Customization scopeAvailable on request
PricingVarious purchase options available as per your research needs. Discounts available on request

COVID-19 Impact Analysis

Like most other markets, the outbreak of COVID-19 had an unfavorable impact on the Thermal Scanner Market worldwide. This report discusses in detail the disruptions experienced by the market, the impact on flow of raw materials, manufacturing operations, production trends, consumer demand and the projected future of this market post pandemic.

The report has helped our clients:

• To describe and forecast the Thermal Scanner Market size, on the basis of various segmentations and geography, in terms of value and volume
• To measure the changing needs of customers/industries
• To provide detailed information regarding the drivers, restraints, opportunities, and challenges influencing the growth of the market
• To gain competitive intelligence and uncover new opportunities
• To analyse opportunities in the market for stakeholders by identifying high-growth segments in Thermal Scanner Market
• To strategically profile key players and provide details of the current competitive landscape
• To analyse strategic approaches adopted by players in the market, such as product launches and developments, acquisitions, collaborations, contracts, expansions, and partnerships

Report Customization

Citius Research provides free customization of reports as per your need. This report can be personalized to meet your requirements. Get in touch with our sales team, who will guarantee you to get a report that suits your necessities.

Customize This Report

Frequently Asked Questions

The Global Thermal Scanner Market size was valued at $XX billion in 2023 and is anticipated to reach $XX billion by 2030 growing at a CAGR of XX%
The global Thermal Scanner Market is expected to grow at a CAGR of XX% from 2023 to 2030.
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Table of Contents

Chapter 1. Introduction
  1.1. Market Scope
  1.2. Key Segmentations
  1.3. Research Objective
Chapter 2. Research Methodology & Assumptions
Chapter 3. Executive Summary
Chapter 4. Market Background
  4.1. Dynamics
    4.1.1. Drivers
    4.1.2. Restraints
    4.1.3. Opportunity
    4.1.4. Challenges
  4.2. Key Trends in the Impacting the Market
    4.2.1. Demand & Supply
  4.3. Industry SWOT Analysis
  4.4. Porter’s Five Forces Analysis
  4.5. Value and Supply Chain Analysis
  4.6. Macro-Economic Factors
  4.7. COVID-19 Impact Analysis
    4.7.1. Global and Regional Assessment
  4.8. Profit Margin Analysis
  4.9. Trade Analysis
    4.9.1. Importing Countries
    4.9.2. Exporting Countries
  4.10. Market Entry Strategies
  4.11. Market Assessment (US$ Mn and Units)
Chapter 5. Global Thermal Scanner Market Size (US$ Mn and Units), Forecast and Trend Analysis, By Segment A
  5.1. By Segment A, 2024 - 2030
    5.1.1. Sub-Segment A
    5.1.2. Sub-Segment B
  5.2. Opportunity Analysis
Chapter 6. Global Thermal Scanner Market Size (US$ Mn and Units), Forecast and Trend Analysis, By Segment B
  6.1. By Segment B, 2024 - 2030
    6.1.1. Sub-Segment A
    6.1.2. Sub-Segment B
  6.2. Opportunity Analysis
Chapter 7. Global Thermal Scanner Market Size (US$ Mn and Units), Forecast and Trend Analysis, By Segment C
  7.1. By Segment C, 2024 - 2030
    7.1.1. Sub-Segment A
    7.1.2. Sub-Segment B
  7.2. Opportunity Analysis
Chapter 8. Global Thermal Scanner Market Size (US$ Mn and Units), Forecast and Trend Analysis, By Region
  8.1. By Region, 2024 - 2030
    8.1.1. North America
    8.1.2. Latin America
    8.1.3. Europe
    8.1.4. MENA
    8.1.5. Asia Pacific
    8.1.6. Sub-Saharan Africa
    8.1.7. Australasia
  8.2. Opportunity Analysis
Chapter 9. North America Thermal Scanner Market Forecast and Trend Analysis
  9.1. Regional Overview
  9.2. Pricing Analysis
  9.3. Key Trends in the Region
    9.3.1. Supply and Demand
  9.4. Demographic Structure
  9.5. By Segment A , 2024 - 2030, (US$ Mn and Units)
    9.5.1. Sub-Segment A
    9.5.2. Sub-Segment B
  9.6. By Segment B, 2024 - 2030, (US$ Mn and Units)
    9.6.1. Sub-Segment A
    9.6.2. Sub-Segment B
  9.7. By Segment C, 2024 - 2030, (US$ Mn and Units)
    9.7.1. Sub-Segment A
    9.7.2. Sub-Segment B
  9.8. By Country, 2024 - 2030, (US$ Mn and Units)
    9.8.1. U.S.
    9.8.2. Canada
    9.8.3. Rest of North America
  9.9. Opportunity Analysis
Chapter 10. Latin America Thermal Scanner Market Forecast and Trend Analysis
  10.1. Regional Overview
  10.2. Pricing Analysis
  10.3. Key Trends in the Region
    10.3.1. Supply and Demand
  10.4. Demographic Structure
  10.5. By Segment A , 2024 - 2030, (US$ Mn and Units)
    10.5.1. Sub-Segment A
    10.5.2. Sub-Segment B
  10.6. By Segment B, 2024 - 2030, (US$ Mn and Units)
    10.6.1. Sub-Segment A
    10.6.2. Sub-Segment B
  10.7. By Segment C, 2024 - 2030, (US$ Mn and Units)
    10.7.1. Sub-Segment A
    10.7.2. Sub-Segment B
  10.8. By Country, 2024 - 2030, (US$ Mn and Units)
    10.8.1. Brazil
    10.8.2. Argentina
    10.8.3. Rest of Latin America
  10.9. Opportunity Analysis
Chapter 11. Europe Thermal Scanner Market Forecast and Trend Analysis
  11.1. Regional Overview
  11.2. Pricing Analysis
  11.3. Key Trends in the Region
    11.3.1. Supply and Demand
  11.4. Demographic Structure
  11.5. By Segment A , 2024 - 2030, (US$ Mn and Units)
    11.5.1. Sub-Segment A
    11.5.2. Sub-Segment B
  11.6. By Segment B, 2024 - 2030, (US$ Mn and Units)
    11.6.1. Sub-Segment A
    11.6.2. Sub-Segment B
  11.7. By Segment C, 2024 - 2030, (US$ Mn and Units)
    11.7.1. Sub-Segment A
    11.7.2. Sub-Segment B
  11.8. By Country, 2024 - 2030, (US$ Mn and Units)
    11.8.1. UK
    11.8.2. Germany
    11.8.3. France
    11.8.4. Spain
    11.8.5. Rest of Europe
  11.9. Opportunity Analysis
Chapter 12. MENA Thermal Scanner Market Forecast and Trend Analysis
  12.1. Regional Overview
  12.2. Pricing Analysis
  12.3. Key Trends in the Region
    12.3.1. Supply and Demand
  12.4. Demographic Structure
  12.5. By Segment A , 2024 - 2030, (US$ Mn and Units)
    12.5.1. Sub-Segment A
    12.5.2. Sub-Segment B
  12.6. By Segment B, 2024 - 2030, (US$ Mn and Units)
    12.6.1. Sub-Segment A
    12.6.2. Sub-Segment B
  12.7. By Segment C, 2024 - 2030, (US$ Mn and Units)
    12.7.1. Sub-Segment A
    12.7.2. Sub-Segment B
  12.8. By Country, 2024 - 2030, (US$ Mn and Units)
    12.8.1. Egypt
    12.8.2. Algeria
    12.8.3. GCC
    12.8.4. Rest of MENA
  12.9. Opportunity Analysis
Chapter 13. Asia Pacific Thermal Scanner Market Forecast and Trend Analysis
  13.1. Regional Overview
  13.2. Pricing Analysis
  13.3. Key Trends in the Region
    13.3.1. Supply and Demand
  13.4. Demographic Structure
  13.5. By Segment A , 2024 - 2030, (US$ Mn and Units)
    13.5.1. Sub-Segment A
    13.5.2. Sub-Segment B
  13.6. By Segment B, 2024 - 2030, (US$ Mn and Units)
    13.6.1. Sub-Segment A
    13.6.2. Sub-Segment B
  13.7. By Segment C, 2024 - 2030, (US$ Mn and Units)
    13.7.1. Sub-Segment A
    13.7.2. Sub-Segment B
  13.8. By Country, 2024 - 2030, (US$ Mn and Units)
    13.8.1. India
    13.8.2. China
    13.8.3. Japan
    13.8.4. ASEAN
    13.8.5. Rest of Asia Pacific
  13.9. Opportunity Analysis
Chapter 14. Sub-Saharan Africa Thermal Scanner Market Forecast and Trend Analysis
  14.1. Regional Overview
  14.2. Pricing Analysis
  14.3. Key Trends in the Region
    14.3.1. Supply and Demand
  14.4. Demographic Structure
  14.5. By Segment A , 2024 - 2030, (US$ Mn and Units)
    14.5.1. Sub-Segment A
    14.5.2. Sub-Segment B
  14.6. By Segment B, 2024 - 2030, (US$ Mn and Units)
    14.6.1. Sub-Segment A
    14.6.2. Sub-Segment B
  14.7. By Segment C, 2024 - 2030, (US$ Mn and Units)
    14.7.1. Sub-Segment A
    14.7.2. Sub-Segment B
  14.8. By Country, 2024 - 2030, (US$ Mn and Units)
    14.8.1. Ethiopia
    14.8.2. Nigeria
    14.8.3. Rest of Sub-Saharan Africa
  14.9. Opportunity Analysis
Chapter 15. Australasia Thermal Scanner Market Forecast and Trend Analysis
  15.1. Regional Overview
  15.2. Pricing Analysis
  15.3. Key Trends in the Region
    15.3.1. Supply and Demand
  15.4. Demographic Structure
  15.5. By Segment A , 2024 - 2030, (US$ Mn and Units)
    15.5.1. Sub-Segment A
    15.5.2. Sub-Segment B
  15.6. By Segment B, 2024 - 2030, (US$ Mn and Units)
    15.6.1. Sub-Segment A
    15.6.2. Sub-Segment B
  15.7. By Segment C, 2024 - 2030, (US$ Mn and Units)
    15.7.1. Sub-Segment A
    15.7.2. Sub-Segment B
  15.8. By Country, 2024 - 2030, (US$ Mn and Units)
    15.8.1. Australia
    15.8.2. New Zealand
    15.8.3. Rest of Australasia
  15.9. Opportunity Analysis
Chapter 16. Competition Analysis
  16.1. Competitive Benchmarking
    16.1.1. Top Player’s Market Share
    16.1.2. Price and Product Comparison
  16.2. Company Profiles
    16.2.1. Company A
      16.2.1.1. Company Overview
      16.2.1.2. Segmental Revenue
      16.2.1.3. Product Portfolio
      16.2.1.4. Key Developments
      16.2.1.5. Strategic Outlook
    16.2.2. Company B
      16.2.2.1. Company Overview
      16.2.2.2. Segmental Revenue
      16.2.2.3. Product Portfolio
      16.2.2.4. Key Developments
      16.2.2.5. Strategic Outlook
    16.2.3. Company C
      16.2.3.1. Company Overview
      16.2.3.2. Segmental Revenue
      16.2.3.3. Product Portfolio
      16.2.3.4. Key Developments
      16.2.3.5. Strategic Outlook
    16.2.4. Company D
      16.2.4.1. Company Overview
      16.2.4.2. Segmental Revenue
      16.2.4.3. Product Portfolio
      16.2.4.4. Key Developments
      16.2.4.5. Strategic Outlook
    16.2.5. Company E
      16.2.5.1. Company Overview
      16.2.5.2. Segmental Revenue
      16.2.5.3. Product Portfolio
      16.2.5.4. Key Developments
      16.2.5.5. Strategic Outlook
    16.2.6. Company F
      16.2.6.1. Company Overview
      16.2.6.2. Segmental Revenue
      16.2.6.3. Product Portfolio
      16.2.6.4. Key Developments
      16.2.6.5. Strategic Outlook
    16.2.7. Company G
      16.2.7.1. Company Overview
      16.2.7.2. Segmental Revenue
      16.2.7.3. Product Portfolio
      16.2.7.4. Key Developments
      16.2.7.5. Strategic Outlook
    16.2.8. Company H
      16.2.8.1. Company Overview
      16.2.8.2. Segmental Revenue
      16.2.8.3. Product Portfolio
      16.2.8.4. Key Developments
      16.2.8.5. Strategic Outlook
    16.2.9. Company I
      16.2.9.1. Company Overview
      16.2.9.2. Segmental Revenue
      16.2.9.3. Product Portfolio
      16.2.9.4. Key Developments
      16.2.9.5. Strategic Outlook
    16.2.10. Company J
      16.2.10.1. Company Overview
      16.2.10.2. Segmental Revenue
      16.2.10.3. Product Portfolio
      16.2.10.4. Key Developments
      16.2.10.5. Strategic Outlook
Chapter 17. Go-To-Market Strategy

Research Methodology

We follow a robust research methodology to analyze the market in order to provide our clients with qualitative and quantitative analysis which has a very low or negligible deviance. Extensive secondary research supported by primary data collection methods help us to thoroughly understand and gauge the market. We incorporate both top-down and bottom-up approach for estimating the market. The below mentioned methods are then adopted to triangulate and validate the market.

Secondary data collection and interpretation

Secondary research includes sources such as published books, articles in journals, news media and published businesses, government and international body publications, and associations. Sources also include paid databases such as Hoovers, Thomson Reuters, Passport and others. Data derived through secondary sources is further validated through primary sources. The secondary sources also include major manufacturers mapped on the basis of revenues, product portfolios, and sales channels.

Primary data collection

Primary data collection methods include conducting interviews with industry experts and various stakeholders across the supply chain, such as raw material suppliers, manufacturers, product distributors and customers. The interviews are either telephonic or face-to-face, or even a combination of both. Prevailing trends in the industry are gathered by conducting surveys. Primary interviews also help us to understand the market drivers, restraints and opportunities, along with the challenges in the market. This method helps us in validating the data gathered through secondary sources, further triangulating the data and developing it through our statistical tools. We generally conduct interviews with -

  • CEOs, Directors, and VPs
  • Sales and Marketing Managers
  • Plant Heads and Manufacturing Department Heads
  • Product Specialists

Supply Side and Demand Side Data Collection

Supply side analysis is based on the data collected from the manufacturers and the product providers in terms of their segmental revenues. Secondary sources for this type of analysis include company annual reports and publications, associations and organisations, government publications and others.

Demand side analysis is based upon the consumer insights who are the end users of the particular product in question. They could be an individual user or an organisation. Such data is gathered through consumer surveys and focused group interviews.

Market Engineering

As a primary step, in order to develop the market numbers we follow a vigorous methodology that includes studying the parent market of the niche product and understanding the industry trends, acceptance among customers of the product, challenges, future growth, and others, followed by further breaking down the market under consideration into various segments and sub-markets. Additionally, in order to cross-validate the market, we also determine the top players in the market, along with their segmental revenues for the said market. Our secondary sources help us to validate the market share of the top players. Using both the qualitative and quantitative analysis of all the possible factors helps us determine the market numbers which are inclined towards accuracy.

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