Thermal Scanner Market by Technology and Geography - Forecast and Analysis 2021-2025

  • Published: Nov 2021
  • Pages: 120
  • SKU: IRTNTR43388
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The thermal scanner market share is expected to increase by USD 1.92 billion from 2020 to 2025, and the market’s growth momentum will accelerate at a CAGR of 7.98%.

This thermal scanner market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers thermal scanner market segmentation by technology (uncooled and cooled) and geography (North America, Europe, APAC, South America, and MEA). The thermal scanner market report also offers information on several market vendors, including 3M Co., AMETEK Inc., Fluke Corp., Infrared Cameras Inc., L3Harris Technologies Inc., Opgal Optronic Industries Ltd., Robert Bosch GmbH, Seek Thermal Inc., Teledyne FLIR LLC, and Testo SE and Co. KGaA among others.

What will the Thermal Scanner Market Size be During the Forecast Period?

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Thermal Scanner Market: Key Drivers and Challenges

Based on our research output, there has been a negative impact on the market growth during and post COVID-19 era. The rising military spending is notably driving the thermal scanner market growth, although factors such as economic slowdown and other macroeconomic factors may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the thermal scanner industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Thermal Scanner Market Driver

Thermal scanners were initially developed for security and surveillance applications in the military. Integrated thermal imaging cameras, systems, and subsystems are installed in weapon sights and stations, thermal scopes, and driver vehicle enhancers (DVEs) for tanks, UAVs, and military vehicles. The rising geopolitical tensions between countries have contributed to a significant increase in military spending worldwide. The military expenditure of countries such as India, China, France, Saudi Arabia, and the US accounted for a major part of the overall defense market. These countries are modernizing their land-, air-, and sea-based defense systems and militaries, which has propelled the demand for thermal scanners in military aircraft, autonomous systems, satellites, spacecraft, and other defense products. Hence, the rise in investment in military modernization will lead to an increase in the adoption of thermal scanners. 

Key Thermal Scanner Market Challenge

The sales of thermal scanners are highly dependent on the growth of the manufacturing industries such as food and beverages, pharmaceutical, automobile, aerospace, oil and gas, chemical and petrochemical, and electrical and electronics. However, the market dynamics in some of these processes and discrete industries are changing drastically, and manufacturers are gradually feeling the brunt of excessive demand fluctuations. The fluctuating prices of oil and gas and metal in the global market and the shortage of skilled workforce in the country have directly affected the profitability of manufacturing companies. The slowdown in the manufacturing industry, the rising trade war between the US and China, and the current impact of the coronavirus pandemic are expected to impact the industrial output around the globe. Thus, the slowdown in demand for industrial products has impacted the CAPEX in new manufacturing facilities, thereby negatively impacting the demand for thermal scanners in the industrial segment.

This thermal scanner market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Who are the Major Thermal Scanner Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • 3M Co.
  • AMETEK Inc.
  • Fluke Corp.
  • Infrared Cameras Inc.
  • L3Harris Technologies Inc.
  • Opgal Optronic Industries Ltd.
  • Robert Bosch GmbH
  • Seek Thermal Inc.
  • Teledyne FLIR LLC
  • Testo SE and Co. KGaA

 

This statistical study of the thermal scanner market encompasses successful business strategies deployed by the key vendors. The thermal scanner market is fragmented and the vendors are deploying growth strategies such as investing in R&D to develop and launch new products to compete in the market.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The thermal scanner market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies. 

Which are the Key Regions for Thermal Scanner Market?

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35% of the market’s growth will originate from North America during the forecast period. The US and Canada are the key markets for thermal scanners in North America. Market growth in North America will be slower than the growth of the market in other regions.

The increasing number of applications in the industrial and aerospace and defense sectors will facilitate the thermal scanner market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

What are the Revenue-generating Technology Segments in the Thermal Scanner Market?

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The thermal scanner market share growth by the uncooled segment will be significant during the forecast period. Uncooled thermal scanners can operate for a longer duration than cooled thermal scanners. Furthermore, they can operate quietly and can be activated immediately. Such benefits are the major factors driving their demand in healthcare and surveillance applications. Vendors are significantly focusing on developing advanced products to efficiently meet the end-user demand and overcome the limitations associated with the image quality of uncooled thermal scanners in comparison with cooled thermal scanners. 

This report provides an accurate prediction of the contribution of all the segments to the growth of the thermal scanner market size and actionable market insights on post COVID-19 impact on each segment.

 

Thermal Scanner Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 7.98%

Market growth 2021-2025

$ 1.92 billion

Market structure

Fragmented

YoY growth (%)

7.00

Regional analysis

North America, Europe, APAC, South America, and MEA

Performing market contribution

North America at 35%

Key consumer countries

US, China, Germany, UK, and Canada

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

3M Co., AMETEK Inc., Fluke Corp., Infrared Cameras Inc., L3Harris Technologies Inc., Opgal Optronic Industries Ltd., Robert Bosch GmbH, Seek Thermal Inc., Teledyne FLIR LLC, and Testo SE and Co. KGaA

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 forecast period

Customization purview

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What are the Key Data Covered in this Thermal Scanner Market Report?

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive thermal scanner market growth during the next five years
  • Precise estimation of the thermal scanner market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the thermal scanner industry across North America, Europe, APAC, South America, and MEA
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of thermal scanner market vendors

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Executive Summary

    Market Landscape

    • Market ecosystem
    • Value chain analysis

    Market Sizing

    • Market definition
    • Market segment analysis
    • Market size 2020
    • Market outlook: Forecast for 2020 - 2025

    Five Forces Analysis

    • Bargaining power of buyers
    • Bargaining power of suppliers
    • Threat of new entrants
    • Threat of substitutes
    • Threat of rivalry
    • Market condition

    Market Segmentation by Technology

    • Market segments
    • Comparison by Technology
    • Uncooled - Market size and forecast 2020-2025
    • Cooled - Market size and forecast 2020-2025
    • Market opportunity by Technology

    Customer landscape

      Geographic Landscape

      • Geographic segmentation
      • Geographic comparison
      • North America - Market size and forecast 2020-2025
      • Europe - Market size and forecast 2020-2025
      • APAC - Market size and forecast 2020-2025
      • South America - Market size and forecast 2020-2025
      • MEA - Market size and forecast 2020-2025
      • Key leading countries
      • Market opportunity by geography
      • Market drivers
      • Market challenges
      • Market trends

      Vendor Landscape

      • Overview
      • Landscape disruption

      Vendor Analysis

      • Vendors covered
      • Market positioning of vendors
      • 3M Co.
      • AMETEK Inc.
      • Fluke Corp.
      • Infrared Cameras Inc.
      • L3Harris Technologies Inc.
      • Opgal Optronic Industries Ltd.
      • Robert Bosch GmbH
      • Seek Thermal Inc.
      • Teledyne FLIR LLC
      • Testo SE and Co. KGaA

      Appendix

      • Scope of the report
      • Currency conversion rates for US$
      • Research methodology
      • List of abbreviations

      Research Framework

      Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

      TechnavioINFORMATION SOURCES

      Primary sources

      • Manufacturers and suppliers
      • Channel partners
      • Industry experts
      • Strategic decision makers

      Secondary sources

      • Industry journals and periodicals
      • Government data
      • Financial reports of key industry players
      • Historical data
      • Press releases
      Technavio

      TechnavioDATA ANALYSIS

      Data Synthesis

      • Collation of data
      • Estimation of key figures
      • Analysis of derived insights

      Data Validation

      • Triangulation with data models
      • Reference against proprietary databases
      • Corroboration with industry experts
      Technavio

      TechnavioREPORT WRITING

      Qualitative

      • Market drivers
      • Market challenges
      • Market trends
      • Five forces analysis

      Quantitative

      • Market size and forecast
      • Market segmentation
      • Geographical insights
      • Competitive landscape
      Interested in this report?
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      The thermal scanner market growth will increase by $1923.55 million during 2020-2025.
      The thermal scanner market is expected to grow at a CAGR of 7.98% during 2020-2025.
      Technavio has segmented the thermal scanner market by technology (Uncooled and Cooled) and geographic (North America, Europe, APAC, South America, MEA, North America, APAC, Europe, MEA, and South America).
      3M Co., AMETEK Inc., Fluke Corp., Infrared Cameras Inc., L3Harris Technologies Inc., Opgal Optronic Industries Ltd., Robert Bosch GmbH, Seek Thermal Inc., Teledyne FLIR LLC, Testo SE and Co. KGaA are a few of the key vendors in the thermal scanner market.
      North America will register the highest growth rate of 35.30% among the other regions. Therefore, the thermal scanner market in North America is expected to garner significant business opportunities for the vendors during the forecast period.
      The key factors driving the thermal scanner market growth are:
      • Rising military spending
      • Increasing penetration of AI
      The thermal scanner market vendors should focus on grabbing business opportunities from the uncooled segment as it accounted for the largest market share in the base year.
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