Published Date : 23 Jun 2023
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.
Thermal Imaging Market Report Scope:
|Market Revenue in 2023
|USD 7.53 Billion
|Projected Forecast Revenue in 2030
|USD 12.6 Billion
|Growth Rate from 2022 to 2030
|CAGR of 8.01%
|2022 To 2030
|North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa
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.
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.
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.
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.
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.
Major Key Players:
By End User
Buy this Research Report@ https://www.precedenceresearch.com/checkout/2273
You can place an order or ask any questions, please feel free to contact at firstname.lastname@example.org | +1 9197 992 333