Thermal camera sales expected to soar as prices drop
NORTHAMPTON, United Kingdom—Market watchers expect sales of uncooled thermal security cameras to jump by 25 percent over the next five years, selling at twice the rate of CCTV and video surveillance systems, according to a new IHS report.
Analyst and report author Oliver Philippou said the drop in price is a result of increased competition and new technological developments.
Despite their versatility—they can be used in total darkness, in all weather conditions and cover wide areas—the devices were previously seen as too expensive, according to the report. However, now that prices have fallen 20 percent or more, IHS expects to see sales grow.
With less demand from militaries in Iraq and Afghanistan, uncooled thermal camera manufacturers are offering less expensive machines to the commercial market, according to the report.
Report authors also say makers of traditional cameras will take new interest in uncooled thermal cameras in the next two years, bringing new systems to the market.
“However, the high price decline will mean that revenue growth will be limited for the next couple of years ... before experiencing increasingly higher growth over this report’s forecast period to 2017,” Philippou said.