LONDON--(BUSINESS WIRE)--Technavio’s latest market research report on the global imaging radiometer market provides an analysis of the most important trends expected to impact the market outlook from 2018-2022. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
According to Technavio analysts, the global imaging radiometer market will grow at a CAGR of close to 10% during the forecast period. The increasing activities of precision agriculture is a major factor driving the market’s growth.
Over the next three decades, the global population is expected to increase to more than 9 billion. Simultaneously, the demand for global food production needs to increase by more than 50% to serve the growing population. Preparing the soil, planting, and harvesting the farms at the right time and monitoring the extremely changing weather conditions will enhance the food production and help farmers and other stakeholders understand the variabilities in crop farming. Developed nations such as Europe and the US encourage smart farming through various initiatives by public and private funds.
This report is available at a USD 1,000 discount for a limited time only: View market snapshot before purchasing
Save more with Technavio. Buy 2 reports and get the third for FREE: View all Technavio’s current offers
In this report, Technavio highlights the continuous investments in military upgrades as one of the key emerging trends driving the global imaging radiometer market:
Continuous investments in military upgrades
Post World War II, the global imaging radiometer market started growing. Countries such as the US, Russia, and Canada wanted to utilize this technology for warfare. The budget for military expenses increased from 1996 to 2011. In 2012, the expenses started reducing, but the worldwide military expenses accounted for USD 1,775 billion in 2014. In terms of procurement expenses, several countries have increased their budget.
“Players in the imaging radiometers market bet high on the market to have a high growth rate. Imaging radiometers are the primary requirements in all military and defense equipment. Countries such as the US, China, Russia, and India display the highest demand for imaging radiometers. Thus, the requirements for advanced imaging equipment are increasing, with the increasing military budget. This is further driving demand for imaging radiometers for military applications,” says a senior analyst at Technavio for research on embedded systems.
Looking for more information on this market? Request a free sample report
Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.
Global imaging radiometer market segmentation
This market research report segments the global imaging radiometer market into the following applications (civil systems and defense systems) and key regions (the Americas, APAC, and EMEA).
The civil systems segment held the largest market share in 2017, accounting for nearly 55% of the market. The market share for this application is expected to increase nearly 6% by 2022.
The Americas was the leading region for the global imaging radiometer market in 2017, accounting for a market share of 56%. By 2022, EMEA is expected to witness the highest market growth of nearly 2%. APAC will also see growth as a high number of manufacturing plants in the region is increasing, which will require imaging radiometers for various applications.
|Technavio’s best deals of the month!|
Mark the beginning of spring with Technavio. Get 30% discount on all energy reports. Offer valid from 12(th) March for a limited period.
|Get 20% off on all media and entertainment services reports. Offer valid only till the 31(st) of March.|
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
If you are interested in more information, please contact our media team at email@example.com.