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The thermal imaging camera market size is forecast to increase by USD 949.6 million, at a CAGR of 7.08% between 2023 and 2028. The growth of the market hinges on several key factors. Firstly, increasing military expenditures globally are driving investments in advanced technologies and equipment, boosting demand across defense and security sectors. Secondly, the healthcare industry's growing demand for innovative medical devices, pharmaceuticals, and healthcare services is expanding market opportunities, spurred by aging populations and advancements in medical treatments. Additionally, stringent regulations mandating the use of radiation detection, monitoring, and safety solutions across various industries are prompting compliance-driven investments, particularly in nuclear power, healthcare, and industrial applications. These factors collectively shape market dynamics, fostering research, development, and deployment of cutting-edge solutions. As these trends continue to evolve, they are expected to drive market growth, creating avenues for technological innovation and strategic partnerships that enhance safety, security, and operational efficiency on a global scale.
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The market is witnessing significant growth due to the increasing demand for advanced security and surveillance systems, monitoring and inspection applications, and detection and measurement solutions. Thermal cameras and thermal scopes, also known as thermal modules, are essential components of these systems, capturing infrared (IR) radiation to produce images and videos in the dark or in low-light conditions. FLIR Systems is a leading player in this market, offering products like the A310 PT and A310 EX, as well as the FLIR A400/A700 series. The automotive testing sector and military and defense applications are major end-users of thermal imaging technologies. The IoT is also driving growth in this market, with thermal imaging devices and sensors being integrated into drones and other thermal smart sensor devices. Thermal imaging solutions are also used for thermal control, thermal profiles, and thermal make-up in various industries. Thermal smart sensors are becoming increasingly popular due to their high accuracy and ability to measure temperature differences. Other key players in the market include companies like Data Bridge Research, Transparency Market Research, and Mordorn Intelligence.
Increasing military expenditure is notably driving market growth. The market is experiencing significant growth due to increasing military spending, particularly in countries like Russia and China, which allocated USD 2.1 trillion and USD 293 billion, respectively, in 2021. This growth can be attributed to the focus on research and development of advanced technologies, such as thermal imaging cameras, to enhance military capabilities. Thermal imaging cameras have diverse applications, including surveillance in armed forces, medical diagnostic purposes, and industrial, commercial, residential, and oil and gas sectors.
Moreover, the market is expected to grow exponentially during the forecast period due to the expanding use cases and technological advancements in this field. Despite the economic challenges posed by COVID-19, military spending continued to grow significantly, particularly in the oil-rich nations, further fueling the demand for thermal imaging cameras. Thus, such factors are driving the growth of the market during the forecast period.
Improvement in photogrammetry and thermal imaging is the key trend in the market. The market is poised for significant expansion over the coming years due to increasing demand from various end-users. In the military and defense sector, thermal imaging cameras are extensively used for surveillance applications, enhancing the capabilities of armed forces. In the medical field, thermal imaging cameras are employed for diagnostic purposes, complementing medical imaging techniques.
In the industrial, commercial, residential, and oil and gas sectors, thermal imaging cameras are utilized for a range of applications, including equipment monitoring, energy efficiency assessments, and safety inspections. A notable trend in the market is the integration of hyperspectral imagery to improve image accuracy and quality. For instance, PrecisionHawk, a leading market participant, is expanding its product offerings by adding optional thermal imaging cameras to its drone data packages. This enhancement is expected to cater to the growing demand for high-resolution thermal images across diverse industries. Thus, such trends will shape the growth of the market during the forecast period.
Safety and privacy issues is the major challenge that affects the growth of the market. Thermal imaging cameras have gained significant attention in various sectors due to their ability to detect temperature differences on the surface of objects and living beings. These cameras have applications in armed forces for surveillance purposes, medical diagnostic uses in medical imaging, industrial processes, commercial establishments, residential settings, and oil and gas industries. However, the accuracy of thermal imaging measurements can be compromised when the surface is covered with fabric or when a large number of people are present, leading to potential inaccuracies and potential public health risks.
For instance, during health crises such as the COVID-19 pandemic, thermal imaging cameras were employed to detect elevated body temperatures, but the use of clothing, masks, and hats obstructed the cameras' ability to take accurate readings. Therefore, it is crucial to ensure proper usage and calibration of thermal imaging cameras to maintain their effectiveness and reliability. Hence, the above factors will impede the growth of the market during the forecast period
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
ANVS Inc. - The company offers thermal imaging camera that enables advance vision in zero ambient light environments and cut through fog, smoke or haze.
The market research and growth report also includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The camera segment is estimated to witness significant growth during the forecast period. Thermal cameras and thermal modules, also known as thermal scopes, play a significant role in various industries, including security and surveillance, monitoring and inspection, and detection and measurement. These thermal imaging technologies utilize Infrared (IR) radiation to generate images, providing valuable data in low-light conditions or through obstacles. FLIR Systems, a leading provider of thermal imaging solutions, offers products such as the VarioCAM HD inspect 900, A310 PT, A310 EX, and FLIR A400/A700. These thermal imaging devices are employed in the automotive testing sector, military and defense, IoT, and drones for autonomous vehicles and proximity sensors. Clinical Thermography (CT) is another application of thermal imaging technology, used for breast cancer screening and sports medicine.
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The camera segment was the largest and wa valued at USD 936.10 billion in 2018. Thermal imaging products are also essential for industrial data collection, compliance management, and thermal technology research. Military spending on thermal imaging solutions continues to grow, driven by the need for advanced surveillance technologies. Thermal sensors and smart sensors are integral components of these thermal imaging devices, enabling accurate thermal profiles, thermal make-up analysis, and skin temperature measurement. Circulatory disorders and other health conditions can be detected using these advanced thermal imaging systems. In conclusion, thermal imaging cameras and related technologies offer significant benefits across various sectors, from industrial applications to healthcare and military defense.
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North America is estimated to contribute 35% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. Thermal cameras and thermal scopes, equipped with advanced thermal modules, play a significant role in security and surveillance, monitoring and inspection, and detection and measurement applications. These technologies utilize infrared (IR) radiation to generate thermal images, which are essential for various industries, including military and defense, autonomous vehicles, IoT, and industrial data compliance management.
FLIR Systems, a leading provider of thermal imaging technologies, offers innovative solutions such as the VarioCAM HD inspect 900, A310 PT, A310 EX, FLIR A400/A700, and thermal smart sensors. Thermal imaging devices are also utilized in clinical thermography (CT) for breast cancer screening, sports medicine, and circulatory disorders. In the automotive testing sector, thermal imaging solutions ensure thermal control, thermal profiles, and thermal make-up, while thermal isolation bands monitor skin temperature. Military spending on surveillance technologies continues to drive the demand for thermal imaging products and sensors. Thermal imaging technologies also find applications in drones and proximity sensors.
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD million " for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.
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Thermal imaging cameras are essential devices that capture and display infrared radiation emitted from objects, converting it into visual images. These cameras are integral to various industries, including security and surveillance, monitoring and inspection, detection and measurement, and healthcare. In the security sector, thermal cameras are used for perimeter protection, intrusion detection, and surveillance. In the industrial sector, they are used for process monitoring, quality control, and compliance management. Thermal modules and thermal sensors are key components of these cameras. Thermal scopes and drones equipped with thermal imaging technology are also gaining popularity in applications such as automotive testing, military and defense, and IoT. FLIR Systems is a leading player in the thermal imaging market, offering products like the A310 PT, A310 EX, and FLIR A400/A700. In addition, thermal imaging technology is also used in healthcare applications such as Clinical Thermography (CT) for breast cancer screening and sports medicine. Infrared radiation is used to measure skin temperature and detect circulatory disorders.
Also, thermal technology is used for thermal profiling, thermal make-up analysis, and thermal control in various industries. Military spending on thermal imaging solutions is expected to increase due to their importance in surveillance technologies. Overall, the thermal imaging market is expected to grow significantly due to the increasing demand for thermal imaging products and solutions in various industries. The market is expanding rapidly across various sectors. In the aerospace and defense sector, these cameras enhance surveillance and aid in search and rescue operations. Advanced Driver-Assistance Systems (ADAS) incorporate thermal cameras for improved vehicle safety. In the oil and gas sector, thermal imaging helps detect thermal isolation bands in pipelines. In healthcare and life sciences, thermal cameras monitor metabolic and vascular functions. Additionally, these cameras utilize Light Detection and Ranging (LIDAR) sensors and Radio Detection and Ranging (RADAR) technology for precise proximity sensing, underscoring their versatility and critical role in modern industries.
Market Scope |
|
Report Coverage |
Details |
Page number |
139 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 7.08% |
Market growth 2024-2028 |
USD 949.6 million |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
6.49 |
Regional analysis |
North America, APAC, Europe, Middle East and Africa, and South America |
Performing market contribution |
North America at 35% |
Key countries |
US, China, Germany, Israel, and Japan |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
ANVS Inc., BAE Systems Plc, Bullard, Chauvin Arnoux Group, CorDEX Instruments Ltd., Cox Enterprises Inc., Elbit Systems Ltd., Fortive Corp., Hangzhou Hikvision Digital Technology Co. Ltd., InfraTec GmbH, Keysight Technologies Inc., MSA Safety Inc., SATIR Europe Ireland Co. Ltd., Seek Thermal Inc., Synectics Plc, Teledyne Technologies Inc., Testo SE and Co. KGaA, Thermoteknix Systems Ltd., Wuhan Guide Infrared Co. Ltd., and Zhejiang Dali Technology Co. Ltd. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the market forecast period |
Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product Type
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Opportunity/Restraints
10 Competitive Landscape
11 Competitive Analysis
12 Appendix
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