THERMAL IMAGING MARKET: Summary
The Global Thermal Imaging Market is projected to reach a value of USD 5128.89 million by 2027 at a CAGR of 6.2%.
Thermal imaging is referred to a method of improving the visibility of objects in a dark environment, by detecting the object's infrared radiation and creating an image based on that information. It is a heat sensor that is capable of detecting tiny temperature differences. The device helps to collect the infrared radiation from objects in the scene and creates an electronic image based on information about the temperature differences. The global thermal imaging market is rising with the growing adoption in the automotive industry. However, stringent export and import regulations are expected to hinder the growth of the market.
THERMAL IMAGING MARKET: Market Dynamics
- Rising Application in the Military Sector
- There have been rising applications in the military sector lead to play a significant role in the thermal imaging market. As the growing investment by the defense sector on the surveillance and thermal imaging systems lead to creating a positive impact on the market growth
- In March 2020, FLIR Systems, Inc. had announced the launch of the FLIR Ranger HDC MR, a new high-definition midrange surveillance system. The new AI Ready HD thermal imaging system helps to minimize the costs, enhance the surveillance capability for the border, and support infrastructure security
- In May 2020, the U.S. Army Rapid Equipping Force (REF) continues to combat the global COVID-19 pandemic, together with partners in the U.S. Army community by deploying thermal imaging sensors on various military installations across the National Capital Region
- In September 2019, the Defense Research and Development Organization (DRDO) has developed night vision equipment for Indian Army tank crew, with the Thermal Imaging (TI) Night Vision Devices (NVD) which can help to locate the targets at a greater distance
- Furthermore, the Asia-Pacific region also creates potential growth opportunities with the growing technological advancement as well as the rising defense spending. Hence, this factor is projected to create a major driver for the growth of the market in the forecast period.
- Growing Adoption in Automotive Industry
- Growing Spending by Government and Defense Activities
- Stringent Export and Import Regulations
THERMAL IMAGING MARKET: Key Segments
- The thermal imaging market is majorly segmented into wavelength, product, technology, application, and end-user.
- Based on wavelength, the market is sub-segmented into Short-Wave Infrared (SWIR), Mid-Wave Infrared (MWIR), and Long-Wave Infrared (LWIR). The Long-Wave Infrared (LWIR) is excepted to account for the larger share in the anticipated period, with the growing demand for thermal products operation in LWIR wavelength in food & beverages, automotive and medical for monitoring.
- Based on the product, the market is bifurcated into thermal cameras, thermal scopes, and thermal modules.
- Based on technology, the market is divided into cooled and uncooled. The uncooled segment is projected to account for the largest share in the projected period, as it helps to provide better penetration in weak environmental conditions such as dust, fog, and smoke.
- On the basis of application, the market is divided into firefighting, surveillance, surveys, personal vision, threat detection, intelligent transportation system, commercial and residential security, and others.
- On the basis of end-user, the market is bifurcated into industrial, commercial, healthcare & life sciences, oil & gas, food & beverages, residential, aerospace & defense, and automotive.
THERMAL IMAGING MARKET: Key Regions
On the basis of region, the market is divided into the Americas, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Americas accounted for the major market share with the rising adoption of infrared imaging products by the organizations for the applications, such as surveillance, threat detection, automotive, and predictive maintenance in the region. However, Asia-Pacific is projected to grow at the fastest growth rate, as China, India, and South Korea are investing heavily to enhance the military weapons to defend their borders. Hence, the rising defense budget in the region leads to fuel the growth of the market in the region.
THERMAL IMAGING MARKET: Report Scope
The report on the thermal imaging market covers a deep dive analysis of historic, recent, and current market trends. furthermore, market share/ranking analysis of key players, market dynamics, competition landscape, country-wise analysis for each region covered, and the entire supply chain dynamics are covered through the below segmentation.
Historical/Estimated/Forecasted Market Size Years
2018 & 2019
2021-2027 (2020 estimated year, forecast up to 2027)
Value (USD Million)
Wavelength, Product, Technology, Application and End-User
Americas, Asia-Pacific, Europe, Middle East & Africa
Key Companies Covered
- Axis Communications AB (Company Overview, Financial Overview, Product Synopsis, Key Developments, SWOT Analysis, & Key Strategy)
- BAE Systems
- FLIR Systems, Inc.
- Fluke Corporation
- L3Harris Technologies, Inc.
- Leonardo S.p.A.
- Opgal Optronic Industries Ltd
- Testo SE & Co. KGaA
- Thermoteknix Systems Ltd
- Xenics nv
- Other Key Companies
THERMAL IMAGING MARKET: Report Segmentation
For the scope of the report, In-depth segmentation is offered by Forencis Research
Thermal Imaging Market, by Wavelength
- Short-Wave Infrared (SWIR)
- Mid-Wave Infrared (MWIR)
- Long-Wave Infrared (LWIR)
Thermal Imaging Market, by Product
- Thermal Cameras
- Thermal Scopes
- Thermal Modules
Thermal Imaging Market, by Technology
Thermal Imaging Market, by Application
- Personal Vision
- Threat Detection
- Intelligent Transportation System
- Commercial and Residential Security
Thermal Imaging Market, by End-User
- Healthcare & Life Sciences
- Oil & Gas
- Food & Beverages
- Aerospace & Defense
Thermal Imaging Market, by Region
- North America
- Latin America
- South Korea
- Rest of Asia-Pacific
- Rest of Europe
- Middle East & Africa
Key Questions Answered By The Report
- What are the prominent developments affecting the market worldwide and its growth?
- What will be the impact of the developments in the market on the industry and on the market players in the future?
- What are the evolving variations of the market globally?
- What are the evolving functions of the market globally?
- What are the prominent aspects that will affect market growth globally during the study period?
- Who are the key players operating in the market across the globe?
- How are the key players leveraging in the present market scenario worldwide?
- Thermal Imaging Market Providers
- Thermal Imaging Market Solution and Services Suppliers, Distributors and Dealers
- End-Users of Thermal Imaging Market
- Government Bodies and Intellectual Institutions
- Associations and Industrial Organizations
- Research & Consulting Service Providers
- Research & Development Organizations
- Investment Banks & Private Equity Firms
60+ MARKET TABLES AND 30+ FIGURES WILL BE INCLUDED IN THE THERMAL IMAGING MARKET STUDY