$3550
$2840
The Australia and New Zealand thermal and acoustic imaging market size is expected to reach US$ 211.04 million by 2031 from US$ 135.12 million in 2023. The market is anticipated to record a CAGR of 5.7% from 2023 to 2031. The rising demand for miniaturization of electronic components is likely to bring new trends to the market in the coming years.
Australia and New Zealand Thermal and Acoustic Imaging Market Analysis
The rise in military expenditure, robust use of thermal imaging in healthcare, and application of acoustic imaging for environmental monitoring are acting as the drivers of the Australia and New Zealand thermal and acoustic imaging market. At the same time, supply chain disruption is restraining the growth of the market. Furthermore, integration with artificial intelligence and the growth of the electric vehicle market are expected to create opportunities for the market's growth. Moreover, the rising demand for miniaturization of electronic components is likely to set a trend for the market.
Australia and New Zealand Thermal and Acoustic Imaging Market Overview
Thermal imaging is a sophisticated, noninvasive technique that uses infrared technology to detect heat emissions from various objects. This process transforms infrared energy—which is invisible to the human eye—into a visible light display. Thermal imaging is based on the variations in the infrared (IR) energy emitted by all objects above absolute zero temperature. A color palette, with each color representing a specific range of temperatures, makes it easier to interpret a thermal image. For example, shades of blue frequently indicate cooler temperatures, whereas shades of red indicate hotter areas. For industrial inspections, a thermal imaging camera is an invaluable tool for detecting overheated components, insulation failures, and other potential issues that are not visible to the naked eye. Thermal imagers can detect hot spots during electrical inspections, indicating areas at risk of overheating or fire.
Acoustic imaging is the use of ultrasound to generate real-time images of virtually undetectable (to humans) noise. Acoustic imaging converts the sounds it hears into a visual representation (or map), allowing the operators to quickly identify problem areas. It can also serve as an early warning system to prevent equipment failure by integrating with factory systems, as well as detect, locate, and visualize air and gas leaks or changes in sound signature. It also generates a precise acoustic image that visually displays ultrasonic data, even in noisy industrial settings. The acoustic image is overlayed in real time, allowing the user to precisely locate the source of the sound. It also enables a more precise alert system, eliminating the toil of alert fatigue.
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Australia and New Zealand Thermal and Acoustic Imaging Market: Strategic Insights
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Australia and New Zealand Thermal and Acoustic Imaging Market Drivers and Opportunities
Robust Use of Thermal Imaging in Healthcare
Infrared technology, with applications ranging from medical imaging to temperature screening, provides noninvasive solutions for early detection and risk reduction. Medical thermal cameras are highly accurate; they are capable of measuring skin surface temperature and creating detailed thermal images of the entire body. These images highlight temperature variations, helping medical professionals detect abnormal heat patterns. When a thermal image shows elevated temperatures, it may signal potential issues such as inflammation, circulation problems, injuries, or infections. Medical thermal imaging is widely used for various purposes, including monitoring body temperature for early signs of illness and diagnosing a range of conditions. In addition, this imaging technique can also be used to effectively prevent infectious diseases from spreading further. Market players are also adopting thermal imaging solutions. For example, in October 2021, HealthSafe became the first business in New Zealand to introduce a TGA-approved thermal image camera after adding the technology to its SecurePass solution.
Australia and New Zealand aim to provide safe and affordable health care. The Australian Government usually funds most of the spending for medical services and subsidized medicines. Australia spent ~US$ 241.3 billion on health goods and services in 2021–2022. The New Zealand healthcare system is made up of three sectors: public, private, and voluntary. Approximately 85% of New Zealand's healthcare is government-funded. In May 2021, the New Zealand government's annual healthcare budget was ~US$ 17.3 billion. Such factors indicate that Australia and New Zealand are highly adopting healthcare technologies. For example, in April 2020, Australia's Buderim Private Hospital installed thermal imaging technology to ensure people visiting the facility had their temperature quickly and accurately assessed before entering. Thus, the robust use of thermal imaging in healthcare drives the market.
Growth of Electric Vehicle Market
With the rise in concerns about climate change and air pollution, industries and consumers are showing interest in adopting electric vehicles. In addition, the governments of several countries are making their way to introduce several initiatives and policies to boost the manufacturing of electric vehicles to decrease carbon footprint and contribute to a greener future. A few initiatives are mentioned below.
- Launched in April 2023, Australia's National Electric Vehicle Strategy set a vision to increase the uptake of electric vehicles (EVs). This initiative is focused on increasing the supply of affordable and accessible EVs; establishing the resources, systems, and infrastructure to enable rapid EV uptake; and encouraging increased EV demand.
- In October 2023, the New Zealand government launched the electric vehicle charging strategy, "Charging our future: National electric vehicle charging strategy for Aotearoa New Zealand." The Emissions Reduction Plan (ERP) sets New Zealand's commitment to increase the share of zero-emission vehicles to 30% of the light vehicle fleet and reduce emissions from freight transport by 35% by 2035.
The rising EV market increases the number of supporting charging stations in Australia and New Zealand. With the rise in charging stations, there will be potential safety hazards such as line aging and leakage, and a fire or a larger safety accident is likely to occur. To prevent any potential hazards, thermal imaging technology can be used for accurate temperature measurement and real-time monitoring of the charging process. The surface temperature distribution of the charging stations is monitored simultaneously with the output of temperature image distribution and data. Thermal cameras can also offer online temperature measurements. In addition, thermal imaging cameras with nondestructive testing can be applied to the new energy vehicle inspection to avoid electric car fires. Acoustic Vehicle Alerting System (AVAS) is a required accessory for electric vehicles. The AVAS system produces sound for nearly silent electric vehicles, improving the safety of vulnerable road users (VRUs) such as pedestrians, cyclists, and children. Thus, the use of thermal and acoustic imaging is expected to support the growing EV market, further creating opportunities for the Australia and New Zealand thermal and acoustic imaging market.
Australia and New Zealand Thermal and Acoustic Imaging Market Report Segmentation Analysis
Key segments that contributed to the derivation of the Australia and New Zealand thermal and acoustic imaging market analysis are thermal imaging and acoustic imaging.
- Based on thermal imaging, the market is segmented into type, technology, wavelength, and end user. In terms of type, the market is subsegmented into thermal cameras, thermal scopes, and thermal modules. The thermal camera segment dominated the market in 2023. Based on technology, the market is subsegmented into cooled and uncooled. The cooled segment dominated the market in 2023. In terms of wavelength, the market is further segmented into SWIR, MWIR, and LWIR. The MWIR segment dominated the market in 2023. Based on end user, the market is subsegmented into aerospace and defense, automotive, healthcare and life sciences, oil and gas, food and beverages, mining, utilities, data centers, and others. The aerospace and defense segment dominated the market in 2023.
- In terms of acoustic imaging, the Australia and New Zealand thermal and acoustic imaging market is segmented by end user. Based on end user, the market is subsegmented into food and beverages, mining, utilities, and others. The others segment dominated the market in 2023.
Australia and New Zealand Thermal and Acoustic Imaging Market Share Analysis by Country
The rising population in Australia is resulting in the growing demand for healthcare, automotive, and other products and services. As announced in Budget 2022–2023, the Australian Government is expected to contribute US$ 149.8 billion over the next five years, including funding announced under the 2020–2025 National Health Reform Agreement, to maintain its record levels of investment in public hospitals. The Australian Government's funding for hospitals in states and territories rose from US$ 13.3 billion in 2012–2013 to ~US$ 32.7 billion in 2025–2026, representing a 145% increase. Thermal imaging is used in noninvasive diagnostics, specifically to monitor skin temperature variations that may indicate inflammation, infection, and poor blood circulation. Its ability to detect elevated body temperatures (fever) made this technique popular during the COVID-19 pandemic in mass screening applications. Electromagnetic acoustic imaging (EMAI) merges electromagnetic and acoustic methods to yield high-resolution images for diagnostics. Thus, significant investments made in the healthcare sector favor the thermal and acoustic imaging market in Australia.
Australia and New Zealand Thermal and Acoustic Imaging Market Report Scope
Australia and New Zealand Thermal and Acoustic Imaging Market News and Recent Developments
The Australia and New Zealand thermal and acoustic imaging market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the Australia and New Zealand thermal and acoustic imaging market are listed below:
- Megger's commitment to serving the African market led to the launch of offices that provide direct, faster, and local technical and commercial support. The offices in Morocco are dedicated to all the customers and projects in the region. (Source: Megger, Press Release, June 2024)
- HIKMIRCO announced a strategic alliance with IRISS, the world leader in electrical maintenance safety devices and reliability technologies. HIKMICRO line of thermographic cameras added to IRISS' existing Sonus brand of Partial Discharge and Ultrasound test equipment, EMSD product solutions, and online training certification programs through its SMART Academy. (Source: HIKMIRCO, Press Release, September 2024)
Australia and New Zealand Thermal and Acoustic Imaging Market Report Coverage and Deliverables
The "Australia and New Zealand Thermal and Acoustic Imaging Market Size and Forecast (2021–2031)" provides a detailed analysis of the market covering the areas mentioned below:
- Australia and New Zealand thermal and acoustic imaging market size and forecast at country level for all the key market segments covered under the scope
- Australia and New Zealand thermal and acoustic imaging market trends, as well as market dynamics such as drivers, restraints, and key opportunities
- Detailed PEST and SWOT analysis
- Australia and New Zealand thermal and acoustic imaging market analysis covering key market trends, country framework, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the Australia and New Zealand thermal and acoustic imaging market
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
Frequently Asked Questions
Rising demand for miniaturization of electronic components are anticipated to play a significant role in the Australia and New Zealand thermal and acoustic imaging market in the coming years.
The Australia and New Zealand thermal and acoustic imaging marketis expected to reach US$ 211.04 million by 2031.
The key players holding majority shares in the Australia and New Zealand thermal and acoustic imaging market are Teledyne FLIR LLC; InfiRay; Fluke Corp; Testo SE & Co. KGaA; and Hangzhou Microimage Software Co., Ltd.
The incremental growth expected to be recorded for the Australia and New Zealand thermal and acoustic imaging market during the forecast period is US$ 75.92 million.
The Australia and New Zealand thermal and acoustic imaging market was estimated to be US$ 135.12 million in 2023 and is expected to grow at a CAGR of 5.7% during the forecast period 2023 – 2031.
Rise in military expenditure, robust use of thermal imaging in healthcare, and acoustic imaging for environmental monitoring are the major factors that propel the Australia and New Zealand thermal and acoustic imaging market.
1. Introduction
1.1 The Insight Partners Research Report Guidance
1.2 Market Segmentation
2. Executive Summary
2.1 Key Insights
3. Research Methodology
3.1 Secondary Research
3.2 Primary Research
3.2.1 Hypothesis formulation:
3.2.2 Macro-economic factor analysis:
3.2.3 Developing base number:
3.2.4 Data Triangulation:
3.2.5 Country level data:
4. Australia and New Zealand Thermal and Acoustic Imaging Market Landscape
4.1 Overview
4.2 PEST Analysis
4.3 Ecosystem Analysis
4.3.1 List of Vendors in Value Chain
4.4 Premium Insights
4.4.1 Product Mapping
4.4.2 Company Share Analysis:
4.4.2.1 Company Share Analysis for Australia and New Zealand Thermal Imaging Market
4.4.2.2 Company Share Analysis for Australia and New Zealand Acoustic Imaging Market
5. Australia and New Zealand Thermal and Acoustic Imaging Market – Key Market Dynamics
5.1 Australia and New Zealand Thermal and Acoustic Imaging Market – Key Market Dynamics
5.2 Market Drivers
5.2.1 Rise in Military Expenditure
5.2.2 Robust Use of Thermal Imaging in Healthcare
5.2.3 Acoustic Imaging for Environmental Monitoring
5.3 Market Restraints
5.3.1 Supply Chain Disruptions
5.4 Market Opportunities
5.4.1 Integration of Artificial Intelligence in Thermal and Acoustic Imaging Systems
5.4.2 Growth of Electric Vehicle Market
5.5 Future Trends
5.5.1 Rising Demand for Miniaturization of Electronic Components
5.6 Impact of Drivers and Restraints:
6. Australia and New Zealand Thermal and Acoustic Imaging Market Analysis
6.1 Australia and New Zealand Thermal and Acoustic Imaging Market Revenue (US$ Million), 2021–2031
6.2 Australia and New Zealand Thermal and Acoustic Imaging Market Forecast and Analysis
6.3 Australia and New Zealand Thermal Imaging Market Revenue (US$ thousand), 2021–2031
6.4 Australia and New Zealand Acoustic Imaging Market Revenue (US$ thousand), 2021–2031
7. Australia and New Zealand Thermal Imaging Market Analysis – by Type
7.1 Thermal Cameras
7.1.1 Overview
7.1.2 Thermal Cameras: Australia and New Zealand Thermal Imaging Market – Revenue and Forecast to 2031 (US$ Thousand)
7.2 Thermal Scopes
7.2.1 Overview
7.2.2 Thermal Scopes: Australia and New Zealand Thermal Imaging Market – Revenue and Forecast to 2031 (US$ Thousand)
7.3 Thermal Modules
7.3.1 Overview
7.3.2 Thermal Modules: Australia and New Zealand Thermal Imaging Market – Revenue and Forecast to 2031 (US$ Thousand)
8. Australia and New Zealand Thermal Imaging Market Analysis – by Technology
8.1 Cooled
8.1.1 Overview
8.1.2 Cooled: Australia and New Zealand Thermal Imaging Market – Revenue and Forecast to 2031 (US$ Thousand)
8.2 Uncooled
8.2.1 Overview
8.2.2 Uncooled: Australia and New Zealand Thermal Imaging Market – Revenue and Forecast to 2031 (US$ Thousand)
9. Australia and New Zealand Thermal Imaging Market Analysis – by Wavelength
9.1 SWIR
9.1.1 Overview
9.1.2 SWIR: Australia and New Zealand Thermal Imaging Market – Revenue and Forecast to 2031 (US$ Thousand)
9.2 MWIR
9.2.1 Overview
9.2.2 MWIR: Australia and New Zealand Thermal Imaging Market – Revenue and Forecast to 2031 (US$ Thousand)
9.3 LWIR
9.3.1 Overview
9.3.2 LWIR: Australia and New Zealand Thermal Imaging Market – Revenue and Forecast to 2031 (US$ Thousand)
10. Australia and New Zealand Thermal Imaging Market Analysis – by End User
10.1 Aerospace and Defense
10.1.1 Overview
10.1.2 Aerospace and Defense: Australia and New Zealand Thermal Imaging Market – Revenue and Forecast to 2031 (US$ Thousand)
10.2 Automotive
10.2.1 Overview
10.2.2 Automotive: Australia and New Zealand Thermal Imaging Market – Revenue and Forecast to 2031 (US$ Thousand)
10.3 Healthcare and Life Sciences
10.3.1 Overview
10.3.2 Healthcare and Life Sciences: Australia and New Zealand Thermal Imaging Market – Revenue and Forecast to 2031 (US$ Thousand)
10.4 Oil and Gas
10.4.1 Overview
10.4.2 Oil and Gas: Australia and New Zealand Thermal Imaging Market – Revenue and Forecast to 2031 (US$ Thousand)
10.5 Mining
10.5.1 Overview
10.5.2 Mining: Australia and New Zealand Thermal Imaging Market – Revenue and Forecast to 2031 (US$ Thousand)
10.6 Utilities
10.6.1 Overview
10.6.2 Utilities: Australia and New Zealand Thermal Imaging Market – Revenue and Forecast to 2031 (US$ Thousand)
10.7 Food and Beverages
10.7.1 Overview
10.7.2 Food and Beverages: Australia and New Zealand Thermal Imaging Market – Revenue and Forecast to 2031 (US$ Thousand)
10.8 Datacentres
10.8.1 Overview
10.8.2 Datacentres: Australia and New Zealand Thermal Imaging Market – Revenue and Forecast to 2031 (US$ Thousand)
10.9 Others
10.9.1 Overview
10.9.2 Others: Australia and New Zealand Thermal Imaging Market – Revenue and Forecast to 2031 (US$ Thousand)
11. Australia and New Zealand Acoustic Imaging Market Analysis – by End User
11.1 Utilities
11.1.1 Overview
11.1.2 Utilities: Australia and New Zealand Acoustic Imaging Market – Revenue and Forecast to 2031 (US$ Thousand)
11.2 Mining
11.2.1 Overview
11.2.2 Mining: Australia and New Zealand Acoustic Imaging Market – Revenue and Forecast to 2031 (US$ Thousand)
11.3 Food and Beverages
11.3.1 Overview
11.3.2 Food and Beverages: Australia and New Zealand Acoustic Imaging Market – Revenue and Forecast to 2031 (US$ Thousand)
11.4 Others
11.4.1 Overview
11.4.2 Others: Australia and New Zealand Acoustic Imaging Market – Revenue and Forecast to 2031 (US$ Thousand)
12. Australia and New Zealand Thermal and Acoustic Imaging Market – Country Analysis
12.1 Asia Pacific
12.1.1 Australia and New Zealand Thermal and Acoustic Imaging Market Revenue and Forecast and Analysis – by Country
12.1.1.1 Australia and New Zealand Thermal and Acoustic Imaging Market Revenue and Forecast and Analysis – by Country
12.1.1.2 Australia Thermal Imaging Market – Revenue and Forecast to 2031 (US$ Thousand)
12.1.1.2.1 Australia Thermal Imaging Market Breakdown by Type
12.1.1.2.2 Australia Thermal Imaging Market Breakdown by Technology
12.1.1.2.3 Australia Thermal Imaging Market Breakdown by Wavelength
12.1.1.2.4 Australia Thermal Imaging Market Breakdown by End User
12.1.1.2.5 Australia Acoustic Imaging Market Breakdown by End User
12.1.1.3 New Zealand Thermal Imaging Market – Revenue and Forecast to 2031 (US$ Thousand)
12.1.1.3.1 New Zealand Thermal Imaging Market Breakdown by Type
12.1.1.3.2 New Zealand Thermal Imaging Market Breakdown by Technology
12.1.1.3.3 New Zealand Thermal Imaging Market Breakdown by Wavelength
12.1.1.3.4 New Zealand Thermal Imaging Market Breakdown by End User
13. Competitive Landscape
13.1 Company Positioning & Concentration
13.2 Heat Map Analysis By Key Players
14. Industry Landscape
14.1 Overview
14.2 Market Initiative
14.3 Product Development
14.4 Mergers & Acquisitions
15. Company Profiles
15.1 Teledyne FLIR LLC
15.1.1 Key Facts
15.1.2 Business Description
15.1.3 Products and Services
15.1.4 Financial Overview
15.1.5 SWOT Analysis
15.1.6 Key Developments
15.2 Testo SE & Co. KGaA
15.2.1 Key Facts
15.2.2 Business Description
15.2.3 Products and Services
15.2.4 Financial Overview
15.2.5 SWOT Analysis
15.2.6 Key Developments
15.3 Fluke Corporation
15.3.1 Key Facts
15.3.2 Business Description
15.3.3 Products and Services
15.3.4 Financial Overview
15.3.5 SWOT Analysis
15.3.6 Key Developments
15.4 UNI-TREND TECHNOLOGY (CHINA) CO., LTD.
15.4.1 Key Facts
15.4.2 Business Description
15.4.3 Products and Services
15.4.4 Financial Overview
15.4.5 SWOT Analysis
15.4.6 Key Developments
15.5 Hangzhou Microimage Software Co., Ltd.
15.5.1 Key Facts
15.5.2 Business Description
15.5.3 Products and Services
15.5.4 Financial Overview
15.5.5 SWOT Analysis
15.5.6 Key Developments
15.6 Megger Group Limited
15.6.1 Key Facts
15.6.2 Business Description
15.6.3 Products and Services
15.6.4 Financial Overview
15.6.5 SWOT Analysis
15.6.6 Key Developments
15.7 SDT International SA/NV
15.7.1 Key Facts
15.7.2 Business Description
15.7.3 Products and Services
15.7.4 Financial Overview
15.7.5 SWOT Analysis
15.7.6 Key Developments
16. Appendix
16.1 About The Insight Partners
16.2 Word Index
List of Tables
Table 1. Australia and New Zealand Thermal and Acoustic Imaging Market Segmentation
Table 2. Ecosystem: Australia and New Zealand Thermal and Acoustic Imaging Market
Table 3. List of Vendors in Value Chain
Table 4. Australia and New Zealand Thermal and Acoustic Imaging Market – Revenue and Forecast to 2031 (US$ Thousand)
Table 5. Australia and New Zealand Thermal Imaging Market – Revenue and Forecast to 2031 (US$ Thousand) – by Type
Table 6. Australia and New Zealand Thermal Imaging Market – Revenue and Forecast to 2031 (US$ Thousand) – by Technology
Table 7. Australia and New Zealand Thermal Imaging Market – Revenue and Forecast to 2031 (US$ Thousand) – by Wavelength
Table 8. Australia and New Zealand Thermal Imaging Market – Revenue and Forecast to 2031 (US$ Thousand) – by End User
Table 9. Australia and New Zealand Acoustic Imaging Market – Revenue and Forecast to 2031 (US$ Thousand) – by End User
Table 10. Australia and New Zealand Thermal and Acoustic Imaging Market – Revenue and Forecast to 2031 (US$ Thousand) – by Country
Table 11. Australia Thermal Imaging Market – Revenue and Forecast to 2031 (US$ Thousand) – by Type
Table 12. Australia Thermal Imaging Market – Revenue and Forecast to 2031 (US$ Thousand) – by Technology
Table 13. Australia Thermal Imaging Market – Revenue and Forecast to 2031 (US$ Thousand) – by Wavelength
Table 14. Australia Thermal Imaging Market – Revenue and Forecast to 2031 (US$ Thousand) – by End User
Table 15. Australia Acoustic Imaging Market – Revenue and Forecast to 2031 (US$ Thousand) – by End User
Table 16. New Zealand Thermal Imaging Market – Revenue and Forecast to 2031 (US$ Thousand) – by Type
Table 17. New Zealand Thermal Imaging Market – Revenue and Forecast to 2031 (US$ Thousand) – by Technology
Table 18. New Zealand Thermal Imaging Market – Revenue and Forecast to 2031 (US$ Thousand) – by Wavelength
Table 19. New Zealand Thermal Imaging Market – Revenue and Forecast to 2031 (US$ Thousand) – by End User
Table 20. New Zealand Acoustic Imaging Market – Revenue and Forecast to 2031 (US$ Thousand) – by End User
Table 21. Company Positioning & Concentration
Table 22. List of Abbreviation
List of Figures
Figure 1. Australia and New Zealand Thermal and Acoustic Imaging Market Segmentation, by Country
Figure 2. PEST Analysis
Figure 3. Impact Analysis of Drivers and Restraints
Figure 4. Australia and New Zealand Thermal and Acoustic Imaging Market Revenue (US$ Thousand), 2021–2031
Figure 5. Australia and New Zealand Thermal Imaging Market Revenue (US$ Thousand), 2021–2031
Figure 6. Australia and New Zealand Acoustic Imaging Market Revenue (US$ Thousand), 2021–2031
Figure 7. Australia and New Zealand Thermal Imaging Market Share (%) – by Type, 2023 and 2031
Figure 8. Thermal Cameras: Australia and New Zealand Thermal and Acoustic Imaging Market – Revenue and Forecast to 2031 (US$ Thousand)
Figure 9. Thermal Scopes: Australia and New Zealand Thermal Imaging Market – Revenue and Forecast to 2031 (US$ Thousand)
Figure 10. Thermal Modules: Australia and New Zealand Thermal Imaging Market – Revenue and Forecast to 2031 (US$ Thousand)
Figure 11. Australia and New Zealand Thermal Imaging Market Share (%) – by Technology, 2023 and 2031
Figure 12. Cooled: Australia and New Zealand Thermal Imaging Market – Revenue and Forecast to 2031 (US$ Thousand)
Figure 13. Uncooled: Australia and New Zealand Thermal Imaging Market – Revenue and Forecast to 2031 (US$ Thousand)
Figure 14. Australia and New Zealand Thermal Imaging Market Share (%) – by Wavelength, 2023 and 2031
Figure 15. SWIR: Australia and New Zealand Thermal Imaging Market – Revenue and Forecast to 2031 (US$ Thousand)
Figure 16. MWIR: Australia and New Zealand Thermal Imaging Market – Revenue and Forecast to 2031 (US$ Thousand)
Figure 17. LWIR: Australia and New Zealand Thermal Imaging Market – Revenue and Forecast to 2031 (US$ Thousand)
Figure 18. Australia and New Zealand Thermal Imaging Market Share (%) – by End User, 2023 and 2031
Figure 19. Aerospace and Defense: Australia and New Zealand Thermal Imaging Market – Revenue and Forecast to 2031 (US$ Thousand)
Figure 20. Automotive: Australia and New Zealand Thermal Imaging Market – Revenue and Forecast to 2031 (US$ Thousand)
Figure 21. Healthcare and Life Sciences: Australia and New Zealand Thermal Imaging Market – Revenue and Forecast to 2031 (US$ Thousand)
Figure 22. Oil and Gas: Australia and New Zealand Thermal Imaging Market – Revenue and Forecast to 2031 (US$ Thousand)
Figure 23. Mining: Australia and New Zealand Thermal Imaging Market – Revenue and Forecast to 2031 (US$ Thousand)
Figure 24. Utilities: Australia and New Zealand Thermal Imaging Market – Revenue and Forecast to 2031 (US$ Thousand)
Figure 25. Food and Beverages: Australia and New Zealand Thermal Imaging Market – Revenue and Forecast to 2031 (US$ Thousand)
Figure 26. Datacentres: Australia and New Zealand Thermal Imaging Market – Revenue and Forecast to 2031 (US$ Thousand)
Figure 27. Others: Australia and New Zealand Thermal Imaging Market – Revenue and Forecast to 2031 (US$ Thousand)
Figure 28. Australia and New Zealand Acoustic Imaging Market Share (%) – by End User, 2023 and 2031
Figure 29. Utilities: Australia and New Zealand Acoustic Imaging Market – Revenue and Forecast to 2031 (US$ Thousand)
Figure 30. Mining: Australia and New Zealand Acoustic Imaging Market – Revenue and Forecast to 2031 (US$ Thousand)
Figure 31. Food and Beverages: Australia and New Zealand Acoustic Imaging Market – Revenue and Forecast to 2031 (US$ Thousand)
Figure 32. Others: Australia and New Zealand Thermal and Acoustic Imaging Market – Revenue and Forecast to 2031 (US$ Thousand)
Figure 33. Australia and New Zealand Thermal and Acoustic Imaging Market Breakdown by Key Countries, 2023 and 2031 (%)
Figure 34. Australia Thermal Imaging Market – Revenue and Forecast to 2031 (US$ Thousand)
Figure 35. Australia Acoustic Imaging Market – Revenue and Forecast to 2031 (US$ Thousand)
Figure 36. New Zealand Thermal Imaging Market – Revenue and Forecast to 2031 (US$ Thousand)
Figure 37. New Zealand Acoustic Imaging Market – Revenue and Forecast to 2031 (US$ Thousand)
Figure 38. Heat Map Analysis By Key Players
The List of Companies - Australia and New Zealand Thermal Imaging Market
- Teledyne FLIR LLC
- Testo SE & Co. KGaA
- Fluke Corporation
- UNI-TREND TECHNOLOGY (CHINA) CO., LTD.
- Hangzhou Microimage Software Co., Ltd.
- Megger Group Limited
- SDT International SA/NV.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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