Image Intensifier Market worth $1,320 million by 2
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The report "Image Intensifier Market by Diameter, (<18 mm, 18 mm, 25 mm, 6 inch, 9 inch, 12 inch, 16 inch), Application (cameras, scopes, googles, x-ray detectors), Vertical (Defense and Surveillance, Medical, Industrial), Geography - Global Forecast to 2024", The global image intensifier market is expected to reach USD 1,320 million by 2024 from USD 912 million in 2019 at a CAGR of 7.66%.
The growing demand for medical diagnostic systems with better visibility and increasing military expenditure plays a significant role in the growth of the image intensifier market.
In addition, the growing trend of military modernization in emerging economies of the world, leading to the boom in the image intensifier-based devices market, is also expected to propel the growth of this market during the forecast period.
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Googles to register highest CAGR in image intensifier market during 2019–2024
The image intensifier market for googles is expected to grow at the highest CAGR from 2019 to 2024. Image intensifier-integrated night vision googles play a key role in the defense segment. The demand for night vision googles is estimated to increase in this sector due to the rising number of armed conflicts and modernization programs worldwide.
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Image intensifier market for defense and surveillance to grow at highest CAGR from 2019 to 2024
Defense and surveillance is expected to register the highest CAGR in the overall market during the forecast period. This can be attributed to the wide use of night vision devices in military operations, as these devices ensure better vision in the dark, thereby providing an advantage to the military personnel during tactical or covert operations.
Rising investments in soldier modernization programs likely to boost demand for image intensifiers in APAC during forecast period
The image intensifier market in APAC is expected to grow at the highest rate during the forecast period. The growth of the market in APAC can be attributed to the increased investments in the development of new and advanced image intensifier-based equipment in countries such as China and India to strengthen their defense capabilities and improve their homeland security.
The key players in the market include
Harris Corporation (US), L3 technologies (US), Thales Group (France), Siemens AG (Germany), Canon Medical Systems (Japan), PHOTONIS Technologies SAS (France), FLIR Systems (Armasight) (US), Alpha optics systems Inc (Canada), JSC Katod (Russia), Photek Limited (UK), Argus Imaging BV (the Netherlands), Meomed.cz (Czech Republic), ASELSAN A.ª. (Turkey), HARDER.digital GmbH (Germany), Dantec Dynamics A/S (Denmark), Lambert Instruments BV (Netherlands), Yukon Advanced Optics (Lithuania), ProxiVision GmbH (Germany), DEP Technologies (US), TAK Technologies Pvt. Ltd. (India), and OPTEXIM JSC (Bulgaria). These players are increasingly undertaking product launches and developments, mergers and acquisitions, contracts, partnerships, and agreements to develop and introduce new technologies and products in the market.
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