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

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.