Thermal Imaging Camera Market Overview, 2030
The global thermal imaging camera market 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 is a contactless device that detects infrared energy (heat emitted by objects) and converts it into a visual image. It consists of a lens, a thermal sensor, mechanical housing, and processing electronics. Some of the important characteristics of thermal imaging cameras are resolution, field of view, range, thermal sensitivity, focus, and spectral range. These characteristics are crucial when selecting a particular thermal camera for any application. The potential uses for thermal cameras are nearly limitless. The thermal imaging camera market study includes all devices based on thermal imaging cameras such as modules, scopes, and goggles.
Originally, the thermal imaging camera was developed for surveillance and military operations, but it is now widely used for building inspections (moisture, insulation, and roofing), autonomous vehicles & automatic braking, industrial inspections, firefighting, skin temperature screening, and scientific research.
The thermal imaging camera market size is expected to witness growth during the forecast period because thermal cameras enable preventive maintenance cost-effectively. The market for global thermal imaging cameras is expected to be driven by increased use of these cameras for security & surveillance. Moreover, the substantial rate of adoption of thermal cameras in the manufacturing sector to ensure quality is expected to boost the demand for market growth. Considering these factors, the global thermal imaging camera market revenue is expected to experience considerable growth in the future.
An increase in investments in the deployment of thermal imaging cameras by governments of different countries is one of the key drivers of the global thermal imaging camera market growth. However, high capital and maintenance costs are expected to restrain the market growth. On the contrary, an increase in the popularity of thermal imaging cameras in the commercial sector is anticipated to provide lucrative opportunities for the expansion of the global thermal imaging camera market.
The emergence of the COVID-19 pandemic has positively influenced the thermal imaging camera market growth. This is attributed to the fact that the use of thermal cameras increased in crowded public places. In addition, it is highly used in different sectors such as health, food, and security. Thus, the surge in installations of thermal cameras during the pandemic notably contributes toward the growth of the market.
The thermal imaging camera market share is segmented into type, application, industry vertical, sales channel, and region. Depending on product type, the market is categorized into cameras, modules, and scopes & goggles. Based on type, the market is bifurcated into cooled and uncooled. The cooled and uncooled segments are further segmented as handheld and fixed. The handheld and fixed segments are further classified as mid-wave infrared (MWIR) and long-wave infrared (LWIR). The uncooled segment dominated the market, in terms of revenue in 2020, and is expected to follow the same trend during the forecast period. The applications covered in the study include security & surveillance, monitoring & inspection, and detection & measurement. The security & surveillance segment was the highest revenue contributor in 2020, however, the monitoring & inspection segment is projected to garner significant market share during the forecast period.
By Product Type
Scopea and Goggles segment is projected as one of the most lucrative segments.
Depending on the industry vertical, the thermal imaging camera market share is fragmented into industrial, marine, aerospace & defense, commercial, automotive, and others. The aerospace & defense segment acquired the highest share in 2020, however, the commercial segment is expected to grow at a high CAGR from 2021 to 2030. By sales channel, the market is divided into direct and indirect sales channels. The direct sales channel led the market in 2020, however, the indirect sales channel is projected to grow at a high rate during the forecast period.
Region-wise, the thermal imaging camera market trends are analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, the UK, France, Italy, and the rest of Europe), Asia-Pacific (China, Japan, South Korea, India, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa). Asia-Pacific is expected to exhibit at highest growth rate during the forecast period. This is attributed to the fact that Asia-Pacific, specifically China, remains a significant participant in the global thermal imaging camera market, as organizations in the country are intensely investing in the technology.
By Industry Vertical
Industrial segment is expected to secure leading position during forecast period.
Top Impacting Factors
Significant factors that impact the growth of the global thermal imaging camera industry include cost-effective preventive maintenance enabled by thermal cameras, an increase in the use of these cameras for security & surveillance, the substantial rate of adoption of thermal cameras in the manufacturing sector to ensure quality and increase in investments for the deployment of thermal imaging cameras by the government of different countries. However, high capital and maintenance cost acts as a major barrier to early adoption, which hampers the growth of the market. On the contrary, thermal imaging cameras are gaining high traction in the commercial sector, which is expected to offer lucrative opportunities for the expansion of the global market during the forecast period.
Competition Analysis
Competitive analysis and profiles of the major global thermal imaging camera market players such as Bullard, Cox, Fluke Corporation, InfraTec GmbH Infrarotsensorik und Messtechnik, Opgal, SATIR, Seek Thermal, Synectics Plc, Teledyne FLIR LLC, and Thermoteknix Systems Ltd. are provided in this report.
By Region
Asia-Pacific would exhibit the highest CAGR of 10.9% during 2021-2030
Key Benefits For Stakeholders
- This study comprises an analytical depiction of the global thermal imaging camera market size along with the current trends and future estimations to depict the imminent investment pockets.
- The overall global thermal imaging camera market analysis is determined to understand the profitable trends to gain a stronger foothold.
- The report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.
- The current global thermal imaging camera market forecast is quantitatively analyzed from 2021 to 2030 to benchmark financial competency.
- Porter’s five forces analysis illustrates the potency of the buyers and suppliers in the global thermal imaging camera market.
- The report includes the global thermal imaging camera market share of key vendors and global market trends.
Key Market Segments
By Product Type
- Camera
- Modules
- Scope & Goggles
By Type
- Cooled
- Handheld
- Mid-wave Infrared (MWIR)
- Long-wave Infrared (LWIR)
- Fixed
- Mid-wave Infrared (MWIR)
- Long-wave Infrared (LWIR)
- Handheld
- Uncooled
- Handheld
- Mid-wave Infrared (MWIR)
- Long-wave Infrared (LWIR)
- Fixed
- Mid-wave Infrared (MWIR)
- Long-wave Infrared (LWIR)
- Handheld
By Application
- Security & Surveillance
- Monitoring & Inspection
- Detection & Measurement
By Industry Vertical
- Industrial
- Marine
- Aerospace & Defense
- Commercial
- Automotive
- Others
By Sales Channel
- Direct
- Indirect
Key Players
- Bullard
- Cox
- Fluke Corporation
- InfraTec GmbH Infrarotsensorik und Messtechnik
- Opgal
- SATIR
- Seek Thermal
- Synectics plc
- Teledyne FLIR LLC
Thermal Imaging Camera Market Report Highlights
| Aspects | Details |
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 By Type |
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 By Application |
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 By Industry Vertical |
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 By Sales Channel |
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 By Region |
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 Key Market Players | Opgal Optronic Industries Ltd. (Israel), Thermoteknix Systems Ltd. (UK), Cox Co., Ltd. (South Korea), .Fluke Corporation (Fortive Corporation) (U.S.), Seek Thermal Inc. (U.S.), Bullard (U.S.), Teledyne Technologies Incorporated (U.S.), InfraTec GmbH Infrarotsensorik und Messtechnik (Germany), Synectics plc (UK), SATIR (Ireland) |
Analyst Review
The use of thermal imaging camera has been in emphasis with the outbreak of COVID-19 pandemic. The sales of these cameras have dramatically increased. For instance, the FLIR Systems, a leading market player, registered a staggering increase in demand of 700% for thermal cameras. In addition, increase in awareness of advantages offered by the thermal cameras across various industry verticals notably contributes toward the market growth.
Strategic partnership, collaboration, and product development are some of the prominent strategies adopted by key market players in the thermal imaging camera market. Furthermore, companies in the market have focused on launching new products that suffice the dynamic needs of customers. For instance, Bytronic Automation launched a new automated system, which uses thermal cameras for accurate, noncontact skin temperature measurement, looking for abnormalities that may indicate a fever and underlying infection.
The key players profiled in the report include Bullard, Cox, Fluke Corporation, InfraTec GmbH Infrarotsensorik und Messtechnik, Opgal, SATIR, Seek Thermal, Synectics Plc, Teledyne FLIR LLC, and Thermoteknix Systems Ltd.
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