Image Intensifier Market to Reach $3.2 Billion, Globally, by 2031 at 7.5% CAGR: Allied Market Research

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Feb 24, 2023, 11:41 ET

PORTLAND, Ore., Feb. 24, 2023 /PRNewswire/ -- Allied Market Research published a report, titled, "Image Intensifier Market by Application (Cameras, Scopes, Goggles, X-Ray Detectors), by Industry Vertical (Medical, Defense and Surveillance, Industrial, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031" According to the report, the global image intensifier industry was valued at $1.6 billion in 2021 and is estimated to generate $3.2 billion by 2031, witnessing a CAGR of 7.5% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chain, regional landscape, and competitive scenario.

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Drivers, Restraints, and Opportunities

Increase in demand for night vision technology, growth in the use of image intensifiers in industrial and scientific applications, and an increase in the need to identify and stop fraudulent activities fuel the growth of the global image intensifier market. However, competition from alternative technologies hinders the global market growth. On the other hand, the surge in the adoption of intensifiers in medical imaging and the increase in defense spending in the image intensifier market will present new growth opportunities for the global image intensifier market in the coming years.

Covid-19 Scenario

The COVID-19 pandemic moderately impacted the global image intensifier market in 2020, owing to a significant impact on prime players operating in the supply chain.
The market faced several hurdles amid the pandemic, such as lack of skilled workforce availability and delay or cancelation of projects due to partial or complete lockdowns across the world.
Nevertheless, the surge in the demand for CT scan solutions across healthcare sectors is a major factor that drove the market growth during the pandemic.

The x-ray detectors segment to grab the largest revenue during the forecast period

Based on application, the x-ray detectors segment contributed to the largest share of nearly two-fifths of the global image intensifier market in 2021 and is expected to maintain its dominance during the forecast period. X-ray detectors are widely used in medical imaging, industrial inspection, scientific research, and other applications that require the detection and measurement of X-rays. They are essential for producing high-quality images that can be used for diagnosis, treatment, and research. However, the goggles segment is projected to witness the fastest CAGR of 8.6% from 2022 to 2031. The increasing use of goggles in various applications such as industrial inspection, scientific research, and medical imaging is driving the growth of image intensifier goggles. Furthermore, the increase in R&D activities for the development of advanced goggles with improved performance and enhanced features is also driving the growth of the segment.

The defense and surveillance segment to dominate the market during the forecast period

Based on industry vertical, the defense and surveillance segment contributed to the largest share of more than two-fifths of the global image intensifier market in 2021 and is expected to maintain its leadership in terms of revenue during the forecast period. The same segment is projected to witness the fastest CAGR of 8.5% from 2022 to 2031. Image intensifiers can be used in various applications, such as military, law enforcement, and security surveillance. They offer a variety of advantages, such as improved speed, better resolution, and the ability to capture images in low-light conditions.

Asia-Pacific to achieve the fastest growth by 2031

Based on region, the market in Asia-Pacific is likely to show the fastest CAGR of 8.5% during the forecast period. This is owing to the increasing demand for night vision technology, surge in adoption of intensifiers in medical imaging, and increase in need to identify and stop fraudulent activities in the region. However, the market in North America was the largest in 2021, accounting for more than two-fifths of the global image intensifier market and is likely to maintain its dominance during the forecast timeframe. This is owing to the growing use of image intensifiers in medical imaging and diagnostics in the region.

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Leading Market Players

Siemens AG
L3Harris Technologies, Inc.
PHOTONIS
Alpha Optics Systems Inc.
Thales Group
Optexim JSC
Photek Limited.
FLIR Systems Inc.
CANON MEDICAL SYSTEMS CORPORATION
Harder Digital

The report analyzes these key players of the global image intensifier market. These players have adopted various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, product portfolio, and developments by every market player.

Key Benefits for Stakeholders

This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the image intensifier market analysis from 2021 to 2031 to identify the prevailing image intensifier market opportunities.
Market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier-buyer network.
An in-depth analysis of the image intensifier market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes an analysis of the regional as well as global image intensifier market trends, key players, market segments, application areas, and market growth strategies.

Image Intensifier Market Report Highlights

Application

Cameras
Scopes
Goggles
X-Ray Detectors

Industry Vertical

Medical
Defense and Surveillance
Industrial
Others

By Region

North America (U.S., Canada, Mexico)
Europe (UK, Germany, France, Rest of Europe)
Asia-Pacific (China, Japan, India, South Korea, Rest of Asia-Pacific)
LAMEA (Latin America, Middle East, Africa)

Key Market Players: Siemens AG, L3Harris Technologies, Inc., PHOTONIS, Alpha Optics Systems Inc., Thales Group, Optexim JSC, Photek Limited., FLIR Systems Inc., CANON MEDICAL SYSTEMS CORPORATION, Harder Digital

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