Image Intensifier Market is projected to expand at a CAGR of 2.9% during 2019-2029: PMR Study

A recently published report by Persistence Market Research (PMR) sheds light into the image intensifier market by analyzing the changing dynamics of the landscape and assessing opportunities for market players. According to the report, the image intensifier market is on a pedestrian growth trajectory given that its scope of application is limited to the military and defense industry.

According to the study, the increase in the military expenditure in numerous countries, on account of cold wars and trade wars is likely to drive investments in the image intensifier market. Since image intensifiers are directly linked with security applications, market players are observed making hefty investments in the development of image intensifiers to enhance the vision during nighttime.

Besides the military, government and law enforcement bodies make a crucial end user in the image intensifier market. With smart city development initiatives taken by governments of numerous countries, there has been a rise in the adoption of highly advanced security systems, aimed at the detection and prevention of security breaches. Such a high inclination and investment made by the government in the direction of ensuring the safety of consumers is likely to drive the future demand for image intensifiers.

Application of Image Intensifiers in the Healthcare Industry – A Crucial Mine of Opportunity

A significant aspect that market players need to focus on is the growing demand for image intensifiers in the healthcare industry for diagnostic systems in order to offer better precision and visibility. Medical personnel are gradually realizing the prowess of image intensifier in transforming the intensity of x-ray photons to light photons, in order to produce a clear image for diagnosis. In addition, the modern image intensifiers even possess the competency to convert low energy radiation to visible light images, in order to increase the brightness of the image. As the trend of early diagnosis encircles the medical sector, image intensifier will gain massive popularity in the healthcare landscape in the coming years.

Survivability in the Image Intensifier Landscape Equals to Strategic Collaborations

The report finds that military and defense applications of image intensifiers are hard-pressing market players to diversify their product portfolio to offer advanced products to their clientele base. For this purpose, market players are seen leveraging partnerships and collaborations to acquire their technologically sound counterparts and gain a reciprocal advantage. An example can be taken from Harris Corporation. In April 2019, L3 Technologies Inc. announced a merger with Harris Corporation to develop innovative products. The company has a reach in over 100 countries across the world.

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While acquisition, merger, and collaboration make up a crucial strategy for the market majors, product launch remains a key strategy for new market entrants and prominent players. One such example can be taken from SYT Technologies. In April 2019, the company announced that it has developed the SYT SR750 long-range observation model, which possesses the competency to detect and identify objects all-day long and even during nighttime, which is likely to serve as an advancement in the military and defense sector.