Thermal Imaging Market Overview
The global Thermal
Imaging Market is
estimated to surpass $14.2 billion mark by 2026 growing at an estimated CAGR of
more than 7.6% during the forecast period 2021 to 2026. The market
growth is mainly driven by the factors such as increasing adoption in many
sectors like automotive, R&D, Defence, Manufacturing and medical for the
thermal solutions. Increasing demand for security and surveillance application
in private and public environment is one factor which drives the market. Increased
urbanization is expected to increase the demand for additional advanced
security solutions. Rising investment in infrastructural systems along with
developing demand for surveillance is another key factor for the market growth.
Decrease in the cost of thermal cameras has been driving the market.
Increased demand for the wireless
temperature sensors. These factors are set to boost the market growth for Thermal Imaging
during the forecast period 2021-2026
Thermal Imaging Market Report Coverage
The report: “Thermal Imaging Market – Forecast
(2021-2026)”, by IndustryARC covers an in-depth analysis of the following
segments of the Thermal Imaging Market.
By Technology type: Cooled, Un-cooled
By Product: Thermal Camera, Thermal Scope and Thermal Module
By Wavelength: Short-wave Infrared, Mid-wave
Infrared, Long-wave Infrared.
By Application: Security & Surveillance,
Detection, Vehicle targeting, Monitoring, Maritime, Critical Infrastructure.
By End User Application: Aerospace, Defence, Automotive,
Oil & Gas, Healthcare, Manufacturing, Others
By Geography: North America (U.S, Canada,
Mexico), Europe(Germany, UK, France, Italy, Spain, Russia and Others),
APAC(China, Japan India, South Korea, Australia and Others), South America and
ROW (Middle East and Africa)
Key Takeaways
- The thermal imaging market is estimated to driven by the factors like increasing demand for the security and surveillance. Also the high demand across the commercial and residential sector is another factor. .
- North America is expected to hold the major market share due to presence manufacturers and increased R&D for the thermal imaging market.
- Due to law enforcement activities as well as in the commercial and industrial sectors, there is huge demand for the products in the market.
Thermal Imaging Market, By Technology, 2020
For More Details on This Report - Request for Sample
Thermal Imaging Market Segment Analysis - By Technology type
Thermal
imaging Market is segmented into cooled and Un-cooled type. Cooled segment has
major market share at 56.2% in 2020 as they can detect even the smallest
changes in the temperature. Uncooled thermal imaging is that which has an
opportunity to grow during the forecast period due to its low cost devices used
in monitoring. These Uncooled segment can be used for the closer monitoring
applications around 5KM. It is also less expensive comparatively than the
Cooled segment. The manufacturing of the components are also easy and can be
done in fewer steps thus propelling adoption.
Thermal
Imaging Market Segment Analysis - By Application
The
thermal imaging technology is basically used in commercial, residential,
military & defence, and industrial applications. In industrial setup
thermal imaging is used to monitor manufacturing process in electrical
installation where it is used to detect the errors. In Commercial applications
it is mainly utilized in airport security and building diagnosis. Thermal
imaging is used in the residential applications because it is cost effective,
high production and easily available. This also helps in reducing the
time-consumed and expensive invasive investigations, and conducting energy
audits, detection of moisture in ceilings, walls, or roofs, and plumbing leaks
or blockages. This drives the residential market at 7.9% CAGR through 2026.
Thermal
Imaging Market Segment Analysis - By Geography
North America will dominate the market during the forecasted period with a share of 35% in 2020 due to increasing manufacturers, providers and also increasing R&D centres. APAC has the great opportunity during the period due to the military expenses and their impact towards the market. China is one country which spends increasingly more on Military thereby driving market growth. Europe has rising demand for the products like security and surveillance applications also provide great investments on advanced solutions.
Thermal Imaging Market Drivers
Rising demand for thermal imaging cameras in defence and residential surveillances
The driving factors of Thermal Imaging Market include factors attributed to increased usage of thermal cameras in the military industry for monitoring and night patrolling. Due to its great features like capability of capturing images in rough weather and capturing images from very long distance, the market growth has increased. In Surveillance thermal cameras and other equipments are used heavily. High investments in the infrastructures with security have paved the way for the growth of market. Medical imaging has advancements in the digital infrared technologies which will also drive the market growth.
Development of Low Priced Products
Development of low-priced or low-cost systems is one of the
major challenges of thermal imaging market. These systems penetrate easily into
the market, which in turn raises the demand for new apps due to their
exceptional features like technological evolutions, outsourcing of work and
increased knowledge. The market is also driven by increased demand for
low-price infrared and thermal imaging systems which lay path for new
applications. With increased focus on the size of the system and also its
price, manufactures are more concerned about designing, integration and
advancement of the system which results in rise in sales of the thermal
cameras. Growing competition is another driver of thermal imaging market, which
is forcing manufacturers to increase their manufacturing efficiency and also
resulting in demand for technological innovations in the field of optics,
sensor size, pyro electrics, thermopiles and many others. This demand is
expected to be key factors for continual reduction in cost of thermal imaging
systems, along with increase in adoption of thermal imaging systems across
various commercial markets.
Thermal Imaging Market Challenges
Restriction of Imports and Exports
The challenges in Thermal Imaging market have always had
issues in exports and imports. Exports of thermal and infrared cameras are restricted
by many governments across the globe. Rule and Regulations must be followed
strictly as they are used for security and surveillances in defence. To start an
export/import business in this sector it requires high initial investment.
These are the challenging factors in the thermal imaging market.
Thermal Imaging Market Landscape
The market for Thermal Imaging Market is consolidated with the players FLIR systems Inc., BAE Systems Inc., Fluke Corporation, Leonardo S.p.A, Raytheon Company. These companies have adopted both organic and inorganic growth strategies such as product launches and developments, partnerships, agreements, contracts, and mergers & acquisitions to strengthen their position in the market.
Acquisitions/Technology Launches/Partnerships
- In February, 2020, FLIR Systems, Inc. Launched FLIR A8580 series thermal cameras designed for military, science, and other applications.
- In December, 2019, Fluke Corporation launched TiS60+ Thermal imaging camera for inspection and analysis applications.
Related Reports
Thermal
Scanner Market - Forecast(2021 - 2026)
Report Code: ESR 0656
Uncooled
Thermal Imaging Market - Forecast(2021 - 2026)
Report Code: ESR 00015
For more Information and Communications Technology Market reports, please click here
LIST OF TABLES
1.Global GLOBAL THERMAL IMAGING MARKET BY SOLUTION, Market 2023-2030 ($M)1.1 Hardware Market 2023-2030 ($M) - Global Industry Research
1.2 Software Market 2023-2030 ($M) - Global Industry Research
1.3 Services Market 2023-2030 ($M) - Global Industry Research
2.Global GLOBAL THERMAL IMAGING MARKET BY SOLUTION, Market 2023-2030 (Volume/Units)
2.1 Hardware Market 2023-2030 (Volume/Units) - Global Industry Research
2.2 Software Market 2023-2030 (Volume/Units) - Global Industry Research
2.3 Services Market 2023-2030 (Volume/Units) - Global Industry Research
3.North America GLOBAL THERMAL IMAGING MARKET BY SOLUTION, Market 2023-2030 ($M)
3.1 Hardware Market 2023-2030 ($M) - Regional Industry Research
3.2 Software Market 2023-2030 ($M) - Regional Industry Research
3.3 Services Market 2023-2030 ($M) - Regional Industry Research
4.South America GLOBAL THERMAL IMAGING MARKET BY SOLUTION, Market 2023-2030 ($M)
4.1 Hardware Market 2023-2030 ($M) - Regional Industry Research
4.2 Software Market 2023-2030 ($M) - Regional Industry Research
4.3 Services Market 2023-2030 ($M) - Regional Industry Research
5.Europe GLOBAL THERMAL IMAGING MARKET BY SOLUTION, Market 2023-2030 ($M)
5.1 Hardware Market 2023-2030 ($M) - Regional Industry Research
5.2 Software Market 2023-2030 ($M) - Regional Industry Research
5.3 Services Market 2023-2030 ($M) - Regional Industry Research
6.APAC GLOBAL THERMAL IMAGING MARKET BY SOLUTION, Market 2023-2030 ($M)
6.1 Hardware Market 2023-2030 ($M) - Regional Industry Research
6.2 Software Market 2023-2030 ($M) - Regional Industry Research
6.3 Services Market 2023-2030 ($M) - Regional Industry Research
7.MENA GLOBAL THERMAL IMAGING MARKET BY SOLUTION, Market 2023-2030 ($M)
7.1 Hardware Market 2023-2030 ($M) - Regional Industry Research
7.2 Software Market 2023-2030 ($M) - Regional Industry Research
7.3 Services Market 2023-2030 ($M) - Regional Industry Research
LIST OF FIGURES
1.US Thermal Imaging Market Revenue, 2023-2030 ($M)2.Canada Thermal Imaging Market Revenue, 2023-2030 ($M)
3.Mexico Thermal Imaging Market Revenue, 2023-2030 ($M)
4.Brazil Thermal Imaging Market Revenue, 2023-2030 ($M)
5.Argentina Thermal Imaging Market Revenue, 2023-2030 ($M)
6.Peru Thermal Imaging Market Revenue, 2023-2030 ($M)
7.Colombia Thermal Imaging Market Revenue, 2023-2030 ($M)
8.Chile Thermal Imaging Market Revenue, 2023-2030 ($M)
9.Rest of South America Thermal Imaging Market Revenue, 2023-2030 ($M)
10.UK Thermal Imaging Market Revenue, 2023-2030 ($M)
11.Germany Thermal Imaging Market Revenue, 2023-2030 ($M)
12.France Thermal Imaging Market Revenue, 2023-2030 ($M)
13.Italy Thermal Imaging Market Revenue, 2023-2030 ($M)
14.Spain Thermal Imaging Market Revenue, 2023-2030 ($M)
15.Rest of Europe Thermal Imaging Market Revenue, 2023-2030 ($M)
16.China Thermal Imaging Market Revenue, 2023-2030 ($M)
17.India Thermal Imaging Market Revenue, 2023-2030 ($M)
18.Japan Thermal Imaging Market Revenue, 2023-2030 ($M)
19.South Korea Thermal Imaging Market Revenue, 2023-2030 ($M)
20.South Africa Thermal Imaging Market Revenue, 2023-2030 ($M)
21.North America Thermal Imaging By Application
22.South America Thermal Imaging By Application
23.Europe Thermal Imaging By Application
24.APAC Thermal Imaging By Application
25.MENA Thermal Imaging By Application
26.Testo AG, Sales /Revenue, 2015-2018 ($Mn/$Bn)
27.Flir systems, Sales /Revenue, 2015-2018 ($Mn/$Bn)
28.Axis communications, Sales /Revenue, 2015-2018 ($Mn/$Bn)
29.BAE systems, Sales /Revenue, 2015-2018 ($Mn/$Bn)
30.Danaher Corporation, Sales /Revenue, 2015-2018 ($Mn/$Bn)
31.DRS technologies, Sales /Revenue, 2015-2018 ($Mn/$Bn)
32.Infrared Imaging Services LLC., Sales /Revenue, 2015-2018 ($Mn/$Bn)
33.Thermoteknix Systems Ltd., Sales /Revenue, 2015-2018 ($Mn/$Bn)
34.SATIR, Sales /Revenue, 2015-2018 ($Mn/$Bn)
35.Gratton Infrared Services, Sales /Revenue, 2015-2018 ($Mn/$Bn)