Image Intensifier Tube Market Size to reach USD 1.785 billion at a CAGR of 7.91% by 2032- Report by Market Research Future (MRFR)
Market Research Future
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Market Research Future
Image Intensifier Tube Market Research Report Information By Category (Generation 1, Generation 2, Generation 3), By Technology (Tungsten-halogen image intensifier, Xenon-arc image intensifiers, and Light-emitting diode (LED) image intensifier), And By Region (North America, Asia-Pacific, Europe And Rest Of The World)
London, United Kingdom, May 01, 2023 (GLOBE NEWSWIRE) -- According to a comprehensive research report by Market Research Future (MRFR), “Image Intensifier Tube Market Research Report: By Category, Technology, and Region - Forecast Till 2030, the market is anticipated to acquire a valuation of approximately USD 1.785 billion by the end of 2030. The reports further predict the market to flourish at a robust CAGR of over 7.91% during the assessment timeframe.
Image Intensifier Tube Market Key Players
Eminent industry players profiled in the image intensifier tube market report include
Upgradation to Modern Technologies to Boost Market Growth
Contemporary technologies, like high-resolution color imaging system & other digital camera technologies having low power consumption, as well as an increase in the usage of IR-LEDs in surveillance applications, are replacing outdated imaging tubes thereby boosting the demand for image intensifier tubes. This will boost market growth in the forecast period.
Image Intensifier Tube Market Opportunities
Procurement of High-Speed Cameras to offer Robust Opportunities
With the purchase of high-speed camera systems like HiCATT, the demand for image intensifier tubes is rising. These tools are used to take pictures while things are moving.
Restraints and Challenges
High Cost to act as Market Restraint
The high cost of image intensifier tube and poor battery backup may act as market restraints over the forecast period.
Image Intensifier Tube Market Segmentation
The global image intensifier tube market is bifurcated based on generation, phosphor type, and end user.
By generation, generation II segment will lead the market over the forecast period. Due to their improved characteristics compared to the older generation and economic viability over third-generation versions, second-generation tubes have grown quite widespread and are the favored generation of image intensifier tubes. They are utilized in handheld non-binocular, goggle, and binocular night vision equipment.
By phosphor type, green phosphor will dominate the market over the forecast period. The majority of night vision gadgets use phosphor green as a screen color because green is one of the most visible colors to the human eye. White phosphor will probably replace green phosphor in the future, though.
By end user, military will spearhead the market over the forecast period. Military commandos are increasingly using image-intensifying goggles and scopes to conduct operations or invade a region at any time. Military forces can assault or defend the land effectively & efficiently without being constrained by darkness thanks to night vision goggles. The growing need for image intensifying cameras in military bases to conduct effective surveillance against the foreign intruders/terrorists is also anticipated to support the market. The market is anticipated to experience growth during the forecast period as a result of the increased government investment in the military & defense industry, particularly in conflict zones.
The market for image intensifier tubes has been impacted by the emerging trend of machine learning. Machine learning and AI-powered technology are among the most significant trends in this sector. When technology advances over time, it will have an impact on how easily problems may be identified and solved. Research on the image intensifier tube market can provide comprehensive details on its worldwide production, consumption, and trade.
The need for these tubes is being driven by the increasing requirement for greater performance in applications like security systems, biological imaging devices, military/defense equipment, and other industries. The global imaging market is expanding due to a variety of factors, including increased demand for CT scanners, an increase in the number of MRI machines in use worldwide, and increased public awareness of the advantages of the diagnostic radiology over conventional treatments. If markets and enterprises are to survive on regional and global platforms, they must find more diverse and long-term funding sources.
Image Intensifier Tube Market Regional Analysis
APAC to Head Image Intensifier Tube Market
The market is anticipated to expand at the highest Rate in the APAC region. This is due to the region's rising need for image intensifiers brought on by an increase in defense spending. By 2023, the Asia Pacific region will hold about 36% of the worldwide market share. China would have a 41% or so market share, dominating the area. While from 2018 to 2023, the market is anticipated to expand at a CAGR of 12.7%. Due to a rising need for military & defense applications, China is anticipated to have the quickest rate of growth in this industry. Currently, China is home to a significant number of foreign businesses, giving it a competitive edge over other regions. Due to their convenient location and accessibility, these businesses have made a name for themselves throughout China. Additionally, the nation offers advantageous policies that allow foreign companies to increase their involvement in the Chinese economy, such as 100% import duty exemption on components and materials, zero-rated tax rates for specific investment types, transfer the pricing relief rules, & export incentives. Over the projection period, the APAC region is anticipated to see the quickest market growth. In addition to the quick increase in total military spending, the expansion of regional market players like Bharat Electronics Limited and TAK Technologies Private Limited is the primary cause of the region's explosive growth.
North America to Have Admirable Growth in Image Intensifier Tube Market
Due to increased need for unmanned ground vehicles in the United States, Canada, and Mexico during the course of the projected period as a result of rising automation levels across industries like aerospace & defense, energy & utilities, oil & gas, mining, etc. In terms of revenue, the North American market held the greatest market share in 2021. Technological developments in ground- & aerial-based surveillance systems, higher government expenditure on defense, and breakthroughs in the medical field in the U.S. are creating a sizable amount of demand for the expansion of the global image intensifier market. The increased production and use of cutting-edge technologies across a range of industries, including healthcare, media and entertainment, defense, and surveillance, among others, is what is driving the image intensifier market in North America. The region's product demand is projected to be significantly influenced by the strict government laws put in place in nations like the United States and Canada to combat the rising incidences of theft, eve-teasing, sexual harassment, robbery, and other crimes.
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