Thermal Imaging Market Size To Rise USD 12.6 Billion By 2030

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23 Jun 2023

Table of Content

The global thermal imaging market size surpassed USD 6.8 billion in 2022 and is projected to rise to USD 12.6 billion by 2030, anticipated to grow at a strong CAGR of 8.01 percent during the projection period from 2022 to 2030.

The utilization of thermal imaging solutions in various sectors such as manufacturing, defense, health care, life science and military have mainly emerged as the reasons for the growth of the market. The penetration of this technology into the current market has led to the demand in various sectors. Temperature sensors which are utilized in the commercial and residential zones have attributed to the growth of the market.

Report Highlights:

• On the basis of type, the segment of handheld devices has emerged as a major segment as a result of the convenience it provides the user with. Various thermal imaging devices have been made compatible with smartphones which helps to increase the demand for this particular segment.
• On the basis of technology, the segment of cooled releases has emerged as the largest segment as they are extremely sensitive and can detect minor variations in temperature.
• On the other hand, the segment of uncooled devices is expected to grow faster as they are cost-effective as compared to the other options.
• On the basis of product, the segment of thermal cameras has emerged as the largest segment as a result of its increasing demand in the commercial and residential zones. The increasing demand for security and surveillance in these sectors has emerged as a major reason for the growth of the market.
• On the basis of wavelength, the segment of mid-wave infrared has emerged as the largest segment as it can function efficiently in extreme climatic conditions such as fog and smoke. This makes it extremely useful in the military and defense sector where high accuracy is demanded.
• On the basis of application, the segment of border surveillance has emerged as the largest segment as a result of its huge demand in the defense and military industry with a view to providing maximum protection on the border.
• On the basis of vertical, the segment of defense and aerospace has emerged as the largest segment as a result of the cost-effective options that are provided for lighting systems on the borders for providing security. On the basis of geography, the region of North America has emerged as the largest market as a result of the extensive demand for advanced thermal devices in this particular region.

Thermal Imaging Market Report Scope:

Regional Snapshots

The geographical region of North America has emerged as the largest market for thermal imaging as a result of the existence of the key market players. The rapid research and development programs that are carried out by the key market players have helped to boost the size of the market tremendously in this particular region. A huge number of devices are manufactured and produced in the region of North America which has emerged as a major reason for the growth of the market.

The active participation of the government in encouraging the use of advanced technology has also helped the market to record considerable revenue over the period of time. The utilization of advanced temperature sensors in the defense and military sector has helped the market to record considerable revenue. The region of Asia Pacific has also contributed considerably to the growth of the thermal imaging market as a result of the increasing expenditures which are made on military and security. The increasing border tensions between the neighboring countries in this particular region has also emerged as a major growth factor for the market. A significant contribution has been made by the region of Europe as a result of the rapid utilization of surveillance applications.

Market Dynamics:

Drivers:

The rapidly increasing demand for thermal imaging solutions in the automotive sector has emerged as a major reason for the growth of the market. The increasing demand for autonomous vehicles among potential consumers has boosted the demand for thermal imaging devices that help to operate vehicle without a driver. Multiple sensors have been installed in these vehicles for detecting the alterations in the temperature which also assists in the detection of light. Thermal cameras have been made use of in these vehicles for providing maximum awareness to the system while the vehicle is running on the road in real-time. Situational awareness is provided with the help of thermal cameras.

Restraints:

Various restrictions have been imposed by the government on the export policies of thermal imaging products. The pixel pitch and sensor size are considered according to the restrictions that are laid by the government. Restrictions have also been imposed regarding the exchange of products between the buyers and the manufacturers for thermal cameras.

Opportunities:

The technique of thermography has been utilized for detection of diseases at the infant stage to provide maximum healthcare options to the individual. Various scanning techniques are combined with thermal imaging technology for the detection of various infections, cancer and injuries at an early stage. The heat patterns are displayed with the help of images which helps to arrive at a suitable diagnosis. The technique of mass fever screening was utilized for distinguishing the patients during the course of the pandemic.

Challenges:

The operation of thermal cameras is it restricted through the medium of water and glass which emerges as a major challenge for the growth of the market. The defects are investigated on the basis of the heat patterns that are produced with the help of images Which cannot be done in these mediums. This is the image of the individual holding the device when placed opposite to a glass. The thermal wavelength is altered when water is considered as a medium as it has a greater heat capacity as compared to air.

Recent Developments:

• In May 2021 - Strategic partnership took place between Maire tecnimont and FL IR system with a view tool provide support to the industrial revolution by formatting the next generation brownfield and greenfield plants for transforming the green chemistry and natural resources sector. 

Major Key Players:

• BAE System Plc
• Leonardo S.p.A.
• Thales Group
• FLIR Systems, Inc.
• American Technologies Network Corporation
• Fluke Corporation
• Thermoteknix Systems Ltd
• Seek Thermal, Inc
• Cantronic Systems, Inc
• Excelitas Technologies Corp.
• Opgal Optronic Industries Ltd.
• Dali Technology Co., Ltd.

Market Segmentation:

By Type

• Handheld
• Fixed or Mounted

By Technology

• Uncooled
• Cooled

By Product

• Thermal Module
• Thermal Scopes
• Thermal Camera

By Wavelength

• Midwave Infrared
• Shortwave Infrared
• Long wave Infrared

By Application

• Security & Surveillance
• Monitoring & Inspection
• Detection & Measurement
• Others

By End User

• Manufacturing
• Residential
• Oil and gas
• Automotive
• Healthcare
• Law Enforcement
• Aerospace and Defense
• Others

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