Image intensifiers are versatile devices that are widely used in a variety of applications to enhance the sensitivity of instruments and systems in low-light conditions, allowing for more accurate and detailed observations and measurements. Image intensifiers are electronic devices that convert low-light images into brighter and more visible images. They work by capturing light photons and amplifying them through a series of optical and electronic components. They are widely used in a variety of applications, including military, law enforcement, industrial inspection, scientific research, medical imaging, and outdoor recreation.
According to a new report published by Allied Market Research, titled, “Image Intensifier Market by Application, Industry Vertical, and Region:: Global Opportunity Analysis and Industry Forecast, 2022–2031,” the image intensifier market was valued at $1.6 billion in 2021 and is estimated to reach $3.2 billion by 2031, growing at a CAGR of 7.5% from 2022 to 2031.
The key players profiled in the report include Siemens AG, Canon Medical Systems Corporation, L3HARRIS Technologies, Inc., Siemens Ag, Canon Medical Systems Corporation, Photonis, Flir Systems Inc., Thales Group, Optexim JSC, Photek Limited., Alpha Optics Systems Inc., And Harder Digital. Market players have adopted various strategies such as product launch, collaboration, partnership, joint venture, and acquisition to expand their foothold in the image intensifier market.
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The growth of the global image intensifier market size is majorly driven by the surge in demand for night vision technology coupled with the growing use of image intensifiers in industrial and scientific applications. Moreover, the rise in the need to identify and stop fraudulent activity is expected to drive mage intensifier market growth. However, the competition from alternative technologies is acting as prime restraint of the global image intensifier market. On the contrary, the surge in the adoption of intensifiers in medical imaging, and the rise in defense spending paired with the rise in defense spending are anticipated to provide lucrative opportunities for the image intensifier industry during the forecast period.
According to the image intensifier market analysis, the goggles segment was the highest contributor to the market in 2021. The defense & surveillance and medical segments collectively accounted for around 67.0% market share in 2021. The surge in prime players’ initiatives to develop and deploy next-generation defense solutions globally has led to the growth of the goggles segment; thereby, enhancing the image intensifier market growth.
In the industrial sector, image intensifiers are used in industrial inspection to detect defects and contaminants in materials, and in non-destructive testing (NDT) applications, such as x-ray and radiography, to detect internal defects in structures and materials. In medical imaging, image intensifiers are used to enhance the sensitivity of x-ray and fluoroscopy equipment, allowing doctors and radiologists to produce high-quality images of internal structures and organs. Among applications, the goggles segment was the highest contributor to the market in 2021. Among industry verticals, the defense and surveillance segment was the highest revenue contributor in 2021.
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Region-wise, the image intensifier market trends are analyzed across North America (the U.S., Canada, and Mexico), Europe (the UK, Germany, France, and the Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and the Rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa). North America, holds a significant share of the global image intensifier market, owing to the presence of prime players in this region.
KEY FINDINGS OF THE STUDY
By Application, In 2021, the goggles segment accounted for maximum revenue and is projected to grow at a notable CAGR of 8.6% during the forecast period.
By Industry, the defense and surveillance segment was the highest revenue contributor to the image intensifier market in 2021.
The defense & surveillance and medical segments collectively accounted for around 67.0% image intensifier market share in 2021.
North America acquired a major share of the image intensifier market with an industry share of 42.6% in 2021