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, thermal sensor, a 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 while 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, 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, owing to the fact that thermal cameras enable preventive maintenance cost-effectively. The market for global thermal imaging camera is expected to be driven by increased use of these cameras for security & surveillance. Moreover, 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.
Increase in investments for deployment of thermal imaging cameras by government of different countries is one of the key drivers of the global thermal imaging camera market growth. However, high capital and maintenance cost are expected to restrain the market growth. On the contrary, increase in 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 COVID-19 pandemic has positively influenced the thermal imaging camera market growth. This is attributed to the fact that the use of thermal camera increased in crowded public places. In addition, it is highly used in different sectors such as health, food, and security. Thus, 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, and industry vertical, sales channel, and region. Depending on product type, the market is categorized into cameras, modules, and scopes & goggles. On the basis of 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 revenuencontributor 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 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 channel. The direct sales channel led the market in 2020, however, the indirect sales channel is projected to grow at high rate during the forecast period.
Region wise, the thermal imaging camera market trends is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, the UK, France, Italy, and 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 into the technology.
By Industry Vertical
Industrial segment is expected to secure leading position during forecast period.
Top Impacting Factors
Significant factors that impact growth of the global thermal imaging camera industry include cost-effective preventive maintenance enabled by thermal cameras, increase in use of these cameras for security & surveillance, substantial rate of adoption of thermal cameras in manufacturing sector to ensure quality, and increase in investments for deployment of thermal imaging cameras by government of different countries. However, high capital and maintenance cost acts as a major barrier for 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 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 the 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 |
 By Product Type |
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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 | Synectics plc (UK), Teledyne Technologies Incorporated (U.S.), Cox Co., Ltd. (South Korea), .Fluke Corporation (Fortive Corporation) (U.S.), Opgal Optronic Industries Ltd. (Israel), Bullard (U.S.), Seek Thermal Inc. (U.S.), InfraTec GmbH Infrarotsensorik und Messtechnik (Germany), Thermoteknix Systems Ltd. (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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