DALLAS — The global infrared thermography market in building inspection is expected to reach $53.2 million by 2020, growing at a compound annual growth rate (CAGR) of 4.2 percent between 2015 and 2020, according to a new market research report published by MarketsandMarkets.
Infrared thermography is a technology which has been designed to help save energy by using infrared thermographic images. The demand to reduce energy consumption is increasing worldwide and the market for infrared thermography in building inspection is expected to grow proportionately, in order to support this growth. Thermographic inspections are used in analyzing the hot spots in buildings by using infrared cameras. The developing countries such as China, Japan, and India are continuously attracting investments in infrastructure due to the favorable business environment in these economies. The growth of infrastructure in developing countries is acting as a leading market driver for thermographic building inspection; as a result, the growing investment in these markets is creating an opportunity for the overall market.
The infrared thermographic market is expected to benefit from emerging market investments that are enhancing infrastructure and facilities, while the developed markets are expected to continue to invest in more efficient energy control systems and procedures, which offer better and more efficient ways of managing energy consumption and using predictive maintenance. The growing pressure on building owners to control their energy consumption has encouraged them to adopt regular thermographic inspections.
This report details the segmentation of the infrared thermography market in building inspection, by application, building type, platform, and geography, and it covers existing and emerging technologies in infrared thermography. The report covers all the major applications of the infrared thermography market, including energy auditing, building performance, HVAC and electric inspection, and structural analysis with qualitative as well as quantitative industry insights.
North America is estimated to account for the major share of the infrared thermography market in building inspection, followed by Europe and Asia-Pacific. However, the Asia-Pacific market is expected to grow at the fastest rate.
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Publication date: 7/13/2015