0

Thermal Imaging Camera Market Expected to Reach $7.49 Billion by 2030

 
2022
Thermal Imaging Camera Market

Report Code : A12433

quote The global thermal imaging camera market share is expected to witness exponential growth, owing to increase in awareness about the advantages offered by these cameras in different industry verticals. Moreover, surge in investments from governments of various countries to adopt this technology is expected to augment the market growth during the forecast period. quote

Ruchal Humbare
Lead Analyst, Semiconductor and Electronics

Get 20% Free Customization In This Report
Follow us on Social Media:       
 

According to a new report published by Allied Market Research, titled, “Thermal Imaging Camera Market Type, Application, Industry Vertical, and Sales Channel: Global Opportunity Analysis and Industry Forecast, 2021–2030,” The global thermal imaging camera industry size was valued at $3.16 billion in 2020, and is projected to reach $7.49 billion by 2030, registering a CAGR of 10.0% from 2021 to 2030.

A thermal imaging camera works by detecting and measuring the infrared radiation emanating the objects, which is then converted into electrical signals that further forms an image. This image created is interpreted to find the hot-spots. These hot-spots indicate high temperature zone that may result in failure of machine or object. Thermal imaging cameras work flawlessly in both daytime and nighttime. These cameras have wide range of applications, including drones, wildlife, fire detection, marine, surveillance, and industrial.

Increase in use of thermal imaging cameras for security & surveillance, benefit of cost-effective preventive maintenance using thermal cameras, substantial rate of adoption of thermal cameras in manufacturing sector to ensure quality, and rise in investments for deployment of thermal imaging cameras by government of different countries are some of the factors that drive the thermal imaging camera market growth. However, high capital and maintenance cost is acting as restraint and hampers early adoption in developing countries. Furthermore, thermal imaging cameras is gaining high traction in the commercial sector, which is expected to provide lucrative opportunities for the global thermal imaging camera industry during the forecast period.

The camera segment dominated the thermal imaging camera market share in 2020, owing surge in demand for thermal cameras with the outbreak of COVID-19 pandemic. The uncooled segment garnered significant market share in 2020, owing to its lower cost and wide range of product offerings. The security & surveillance had a prominent market share in 2020, due to greater demand for high-end security devices across various sectors. The aerospace & defense segment was the highest contributor to the market in 2020. The industrial and commercial sectors collectively accounted for around 40.0% thermal imaging camera market share in 2020, owing to surge in cloud-based solutions fuels the growth of the smart camera segment. By sales channel, direct segment dominated the market, as customers directly placed their orders for thermal cameras according to their requirements, thereby allowing customization of the customers.

The sudden outbreak of the COVID-19 pandemic has enforced industries to adopt advanced safety and health protection measures. Thermal imaging has been as a preferred potent, cost-effective measure to safeguard workplace safety and inhibit further spreading of the virus. Thermal imaging cameras have now become an indispensable part of a surveillance equipment system for any business. Consequently, the emergence of COVID-19 pandemic has fueled the thermal imaging camera market growth during the forecast period.

Region wise, North America is a key contributor in the global thermal imaging camera market revenue. This is attributed to amplified spending on armed forces in the U.S. This increased spending is aimed at equipping the armed forces with advanced military gear, including these cameras, to efficiently conduct surveillance and security operations. Moreover, the region has major players offering advanced solutions.

This is attributed to extensive adoption of advanced technology by the region, which is expected to propel the market growth.

Key Findings Of The Study

  • In 2020, the uncooled segment accounted for the maximum revenue, and is projected to grow at a notable CAGR of 8.1% during the forecast period.
  • The industrial and aerospace & defense together accounted for around 50.0% of the global thermal imaging camera market share in 2020.
  • The monitoring & inspection of the global market is projected to growth at a CAGR of 9.9% during the forecast period.
  • Asia-Pacific contributed major share in global thermal imaging camera market, accounting for more than 45.0% share in 2020.

The key players profiled in the report include Baumer, Cognex Corporation, FLIR Systems, Inc., Basler, Keyence, Omron, Teledyne Group, TKH Group, and Sony Corporation. Market players have adopted various strategies such as product launch, collaboration & partnership, joint venture, and acquisition to expand their foothold in the global thermal imaging camera market.

 

Need More Information

pr-det-talk Talk to David (Europe)

pr-det-talk Talk to Sona Padman (Americas)

5933 NE Win Sivers Drive #205,
Portland, OR 97220 United States

pr-det-phone Toll Free: +1-800-792-5285

pr-det-phone UK: +44-845-528-1300

pr-det-phone Hong Kong: +852-301-84916

pr-det-phone India (Pune): +91 2066346060

pr-det-phone Fax: +1(855) 550-5975

pr-det-phone help@alliedmarketresearch.com

 

For Media Inquiries, Please Contact

Allied Market Research
Contact Toll Free: +1-800-792-5285
Drop us an email at
media@alliedmarketresearch.com

Looking for Customization?

 Customization Request

Have a Question?

 Speak with Analyst

Any Confusion?

 Inquire Before Buying

Have a glance of the Report

  Request Free Sample
 
 

First time buyer?
Check offers and discount on this report
To get this report

Click Here
 
 

quote Thermal Imaging Camera Market by Product Type (Camera, Modules, and Scope & Goggles), Type (Cooled, Uncooled), Application (Security & Surveillance, Monitoring & Inspection, and Detection & Measurement), Industry Vertical (Industrial, Marine, Aerospace & Defense, Commercial, Automotive, and Others), and Sales Channel (Direct and Indirect): Global Opportunity Analysis and Industry Forecast, 2021–2030 quote

View Report
 
 

Avenue: Entire Library membership of Allied Market Research Reports at your disposal

  • Avenue is an innovative subscription-based online report database.
  • Avail an online access to the entire library of syndicated reports on more than 2,000 niche industries and company profiles on more than 12,000 firms across 11 domains.
  • A cost-effective model tailored for entrepreneurs, investors, and students & researchers at universities.
  • Request customizations, suggest new reports, and avail analyst support as per your requirements.
  • Get an access to the library of reports at any time from any device and anywhere.

 
 

WHY ALLIED MARKET RESEARCH?

INFLALLIBLE METHODOLOGY

To ensure high-level data integrity, accurate analysis, and impeccable forecasts

ANALYST SUPPORT

For complete satisfaction

CUSTOMIZATION

On-demand customization of scope of the report to exactly meet your needs

TARGETED MARKET VIEW

Targeted market view to provide pertinent information and save time of readers

 

Featured Readings

 
rep-img

Published Date Nov 2024

Hybrid Cloud Market

Download Sample
rep-img

Published Date Oct 2024

Digital Substation Market

Download Sample

Buy Full Version
"Thermal Imaging Camera Market"
Purchase Enquiry

Get fresh content delivered

Get insights on topics that are crucial for your business. Stay abreast of your interest areas.

Get Industry Data Alerts

Why Allied Market Research?

Infallible Methodology

To ensure high-level data integrity, accurate analysis, and impeccable forecasts

Analyst Support

For complete satisfaction

Customization

On-demand customization of the scope of the report to exactly meet your needs

TARGETED MARKET VIEW

Targeted market view to provide pertinent information and save the time of readers