USD 3.5 billion
Thermal Camera Market Size, Share, Growth Analysis, By Product(Handheld, Mounted, Scopes & Goggles), By Technology(Cooled, Uncooled), By Application(Monitoring, Inspection, Security, Surveillance), By End User(Military, Defense, Industrial, Commercial), By Region - Industry Forecast 2024-2031
Report ID:
SQSG45J2025 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|Tables:
128
|Figures:
77
Thermal Camera Market Insights
Global Thermal Camera Market size was valued at USD 3.5 billion in 2019 and is poised to grow from USD 4.18 billion in 2023 to USD 7.49 billion by 2031, growing at a CAGR of 10% in the forecast period (2024-2031).
The increasing adoption of thermal cameras in various end-use verticals such as military and defence, healthcare and life science, and manufacturing is driving the market growth. Advances in the Internet of Things (IoT) and Machine Learning (ML) have created new opportunities for these devices' industrial applications. These developments have resulted in the deployment of a wide range of sensors to monitor environmental and physiological data.
Thermal imaging technology has recently gained acceptance as one of the potential methods for tracking physiological details such as skin temperature detection, human tumour evaluation, and a variety of other niche areas. Thermal cameras are being used in predictive maintenance to help manufacturers save money by potentially analyzing machine failures and detecting hotspots that could lead to costly production losses and manufacturing downtime. FLIR Systems, for example, is a leading manufacturer of thermal imaging products and offers a wide range of thermal cameras such as the A310 PT, FLIR A310, FLIR A310 EX, and others that enable manufacturers to conduct in-process monitoring and ensure product quality.
US Thermal Camera Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Handheld
Fastest Growth
Handheld
Growth Rate
10% CAGR
Global Thermal Camera Market, 2021-2028($ Bn)
Country Share for North America Region- 2021 (%)
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Thermal Camera Market Segmental Analysis
Thermal Camera Market is segmented based on the product, technology, application, end user and region. Based on the product, Thermal Camera Market is segmented into handheld, mounted, and scopes & goggles. Based on technology, Thermal Camera Market is segmented into cooled, and uncooled. Based on application, it is segmented into monitoring and inspection, security and surveillance, detection and measurement, search, rescue operations, and others. Based on end user, Thermal Camera Market is segmented into military and defense, industrial, commercial, healthcare and life sciences, residential, automotive, and others. Based on region Thermal Camera Market is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.
Thermal Camera Market Analysis by Product
The global thermal camera market is segmented based on product into handheld, mounted, and scopes & goggles. The handheld thermal camera segment is expected to grow the most during the forecast period, owing to its broad range of applications such as thermal imaging, predictive maintenance, medical imaging, and others. Furthermore, increased demand for these cameras to measure body temperature and for other applications in the healthcare sector has increased demand. Mount thermal cameras are not only used to increase production efficiency or to maximize quality assurance, but also play a vital role in early fire warning, smoke detection, and protection and surveillance applications.
Thermal Camera Market Analysis by Technology
The global thermal camera market is segmented based on product into cooled, and uncooled. Thermal imaging devices with cooled detectors are expected to be widely used during the forecast period, owing to their high capture rate and large thermal isolation band. Furthermore, because of the shorter infrared wavelength sensing, cooled cameras typically have higher magnification capacities. Because cooled cameras have higher resistance properties, lenses with more optical elements or thicker components can be used to increase magnification efficiency without lowering the signal-to-noise ratio.
Global Thermal Camera Market By Product, 2021(%)
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Thermal Camera Market Regional Insights
The global thermal camera market is studied on the basis of geography as North America, Europe, Asia-Pacific, South America, and Middle East & Africa. North America region is expected to account for the largest market. According to our research, North America is expected to dominate this market share due to increased demand for thermal imaging technologies in the manufacturing and commercial sectors. Furthermore, rising demand for these cameras for security and surveillance purposes in the military and defence sectors is expected to boost rugged thermal camera market growth in region. The implementation of IoT and advanced thermal imaging solutions is taking longer than expected, with semiconductor companies assisting in driving progress across emerging imaging technologies. Developers and business leaders in the region are focused on the thermal technology's technical potential, including the ability to capture and interpret large amounts of industrial data that could contribute to industrial safety and compliance management while improving protection and financial returns.
Europe has the world's second-largest market share. Rising demand for defence and monitoring is expected to drive growth in this region. The gradual decline in the prices of thermal cameras, as well as the availability of low-cost thermal sensors, has also been a major driving factor for demand in this region. Due to the intensification of border disputes between countries such as India and China, the Asia-Pacific market is expected to grow at a rapid pace. These conflicts force countries to increase military spending and equip their armed forces with advanced surveillance technologies such as thermal cameras.
Global Thermal Camera Market By Geography, 2021 - 2028
- Largest
- Fastest
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Thermal Camera Market Dynamics
Thermal Camera Market Driver
Increased Thermal Camera Adoption in Automotive Testing Applications to Drive the market Growth
- Thermal cameras can be used in a wide range of automotive testing applications, from computer architecture and vehicle thermal control to break, tyre, and engine monitoring, as well as testing of next-generation internal combustion and electric propulsion. As thermal imaging technology becomes more compact, affordable, and advanced, the use of these cameras will increase to meet the industry's growing demands. As the automotive industry evolves and expands, new thermal imaging technologies and specifications are being developed, and key players are continuing to build products and solutions to meet these ever-growing industry needs.
Thermal Cameras Aid the Oil and Gas Industry in Detecting Pipeline Leaks Will Drive Market Growth
- The oil and gas industry faces a wide range of maintenance issues, including pipe failures that release fugitive emissions and hazardous gas leaks into the atmosphere, as well as the breakdown of turbines, generators, and valves. Invisible oil and gas leaks are difficult and time-consuming to detect using traditional inspection methods, especially when several components must be inspected. Thermal cameras are widely used in the oil and gas industry as preventive maintenance tools to detect leaks in reservoirs, pipelines, and facilities.
Thermal Camera Market Restraints
High costs may stifle market growth
- The high cost of these cameras is limiting their significance. These devices are affected by the weather, and because they are temperature-based, the image contrast is low. The cost of infrared thermal imaging systems remains the main barrier to widespread adoption, but with the introduction of non-cooled infrared plane arrays, it can now provide high resolution and efficiency at low costs. Potential costs of thermal cameras can be drastically reduced through the advancement of innovations, breakthroughs in core developments, and increased production performance.
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Thermal Camera Market Competitive Landscape
The market is moderately consolidated, with a significant number of regional and global players. The market's major players are attempting to increase their market share through product innovation. These companies are focusing on new product launches as well as mergers and acquisitions to strengthen their global market presence. For Instance, FLIR Systems, unveiled its new advanced thermal imaging cameras, the E96, E86, E76, and E54, in October 2020, with improved thermal resolutions over their predecessors. These thermal cameras were created to provide vibrant, easy-to-read images, as well as on-camera routing capability to improve field survey efficiency.
Thermal Camera Market Top Player's Company Profiles
- FLIR Systems
- Axis Communications AB
- Seek Thermal
- Thermoteknix Systems Ltd.
- Opgal Optronic Industries Ltd.
- Fluke Corporation
- Infrared Cameras Inc.
- Jenoptik AG
- Leonardo S.p.A.
- Testo SE & Co. KGaA
- L3Harris Technologies, Inc.
- Tonbo Imaging
- Xenics NV
- InfraTec GmbH Infrarotsensorik und Messtechnik
- Raptor Photonics Ltd.
- ULIS
- Wuhan Guide Infrared Co., Ltd.
- SATIR Europe (Ireland) Ltd.
- Sierra Olympic Technologies, Inc.
- Princeton Infrared Technologies, Inc.
Thermal Camera Market Recent Developments
- In June 2021, Teledyne FLIR LLC, a leading provider of thermal imaging cameras has introduced the FLIR A500f and A700f ruggedized thermal cameras, which feature high-temperature detection for extremely critical environments. For outdoor conditioning monitoring applications, these cameras enable alarm capabilities and on-camera analytics.
- In January 2021, Axis Communications AB introduced the AXIS Q8752-E, a bispectral PTZ camera with a thermal camera that allows for 3x zoom for reliable verification and detection in all light and weather conditions. This product launch is expected to increase the use of thermal cameras in a variety of industrial applications.
Thermal Camera Key Market Trends
- Thermal cameras can be used in a variety of applications to detect temperature accurately. Their popularity is growing due to features such as detecting false alarms and saving both time and resources to reduce overall ownership costs (TCO). Due to their broader detection capabilities, these devices reduce the need for multiple cameras, as a single thermal camera can cover large areas and protect the entire perimeter. They can also capture heat-based images of people and objects. This means they can see a clear image of a potential threat even in low-vision areas.
Thermal Camera Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our global thermal camera market analysis, Compact, durable, and industrial-grade thermal cameras are in high demand. As more professional users adopt laser rangefinder-assisted ultra-focus systems, the market for thermal cameras is expected to grow. Furthermore, thermal cameras are gaining market share in industries such as automotive, law enforcement, and medicine. Technological advancements and innovations, as well as the incorporation of artificial intelligence technologies into smart gadgets, create a large market opportunity. Thermal imagers are used in both the residential and commercial sectors to provide information on leakage (water or air), home insulation, cracks, and inadequate insulation.
The thermal camera market report provides qualitative and quantitative insights into the market, as well as a detailed analysis of market size and growth rate for all possible market segments. In addition, the report provides an in-depth examination of the thermal camera market share, market dynamics, emerging trends, and competitive landscape.
| Report Metric | Details |
|---|---|
| Market size value in 2019 | USD 3.5 billion |
| Market size value in 2031 | USD 7.49 billion |
| Growth Rate | 10% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Thermal Camera Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Thermal Camera Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Thermal Camera Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Thermal Camera Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Thermal Camera Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Thermal Camera Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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