Thermal Scanner Market size was valued at $3.85 billion in 2019, and it is estimated to grow at a CAGR of 9.14% during 2020-2025. Adoption of LWIR wavelengths thermal imaging scanners in industries such as automotive, food and beverage, healthcare and life sciences sectors for monitoring and detection of temperature is set to boost the thermal scanners industry. Increasing pandemic diseases such as covid-19 and other flues have been creating more demand for thermal screeners in transportation sector in order to screen passengers. Furthermore, government initiatives and expenditure in procuring advanced solutions set to increase the overall market performance of thermal scanners market.
- North America has dominated the thermal Scanner market in 2019 owing to early adoption of advanced technologies and high investments in adopting them.
- Growing demand for thermographic cameras for building inspection, law enforcement, data center monitoring and other application have been fueling the market growth.
- Increasing adoption of detection equipment such as fixed thermal and infrared scanners at commercial places such as airports, malls, and other crowd places is driving the market growth.
- High cost and scarcity of equipment is the major challenge for the consumers of thermal scanners.
Technology - Segment Analysis
Uncooled segment held the largest market share 52.91% in the thermal Scanner market in 2019. Uncooled technology of thermal scanners has high share owing its benefits such as better penetration in weak environmental conditions and can be activated and operated quickly. This technology is cost effective when compared to cooled technology, and have much longer service as they continuously work without maintenance, thereby increasing the demand for thermal scanners.
Industry Vertical - Segment Analysis
Commercial and Transportation sector is the fastest growing industry in thermal Scanner market and estimated to grow at a CAGR of 11.26%. With the outbreak of global pandemic disease corona virus, there has been high adoption of thermal scanners at various airports. Growing awareness of the safety of the people, it is expected that there would be increase in adoption of commercial complexes such as malls, theatres, business places and corporate offices. For instance, India based Ramco Systems Company had introduced advanced facial recognition and thermal scanning technology in order to assist companies in identifying the temperatures of the employees marking their attendance and for safety. This is poised to create opportunities for thermal scanners in commercial and transportation sector.
Geography- Segment Analysis
North America dominated the thermal Scanner market in 2019 with a share of 35.47%, followed by Europe and APAC. As the North American countries such as the U.S. and Canada are the early adoption of advanced technologies, there is huge adoption of Thermal Scanner which is set to drive the market. From February 2020 onwards, many companies in the U.S. such as Intel Corporation, Tyson Foods Inc and many others have started implementing thermal scanners in order to ensure their workers not entering into the factories with the potential illness due to the pandemic disease covid-19. U.S. Companies such as FLIR Systems and other companies has caused a sales spike with tripling quarterly revenue in small span of time as they had in more than five years. This has been increasing the demand for thermal scanners in North American region.
Drivers –Thermal Scanner Market
- Increasing demand for thermal screeners at airports
Many airports have adopted thermal screeners for mass screening of people due to evolution of pandemic disease. From January 2020, several airports across the world have started using thermal screeners due to the outbreak of coronavirus in China in order to test the temperature and illness of passengers. Many Governments across the globe have mandated to use thermal screeners at international airports which have been driving the market growth. This has created huge opportunities for the equipment at domestic airports in the future as well.
Increasing Government expenditure and high research and development activities
There has been growing demand for thermal scanners at various industries such as automotive, aerospace, defense and others. Adoption of these devices for border surveillance, law enforcement, structural health monitoring of aircrafts applications have been fueling the market growth. Furthermore, they also help in easy identification, and targeting the enemy forces. According to Stockholm International Peace Research Institute (SIPRI), the global military expenditure across world has been increased from $1.70 billion to $1.77 billion during 2016-2018 period. Increasing expenditure has created demand for adopting advanced equipment, thereby driving the market growth.
Challenges – Thermal Scanner Market
- High initial investment
The initial investment of thermal scanners is high. This factor is the major limiting factor for widespread of use in every industrial and commercial sector. But accurate temperature measurements are sometimes get hindered by differing emissivity and reflections from various surfaces. During global emergency situations, there has been shortage of thermal scanners which may lead to increase in price of the product. However, strict government regulations on usage and price limitation of particular products may provide opportunities for thermal scanners.
Product Launches, and R&D activities are key strategies adopted by players in the thermal scanner market. Thermal Scanner top 10 companies are has been consolidated by the top ten players include Fluke Corporation, Leonardo S.p.A., FLIR Systems, L3 Harris Technologies Inc, Optotherm Inc, Seek Thermal, Thermoteknix Systems Ltd, 3M, Opgal and others.
- In September 2019, Leonardo had launched SLX-SuperHawk thermal imaging camera. This is majorly used in long metering surveillance and targeting application requirements. Adoption of this types of thermal imaging equipment in military and civil applications set to increase the thermal scanner market share.
- In January 2020, FLIR Systems had launched its first uncooled, fixed mount connected autonomous thermal camera for detecting methane and other industrial gases. This is majorly used in renewable energy production facilities, gas power plants, and other industrial plants. Thus, the development of new and advanced products set to propel the thermal scanner market.
1. Thermal Scanner Market- Market Overview
1.1 Definitions and Scope
2. Thermal Scanner Market - Executive Summary
2.1 Market Revenue, Market Size and Key Trends by Company
2.2 Key Trends by type
2.3 Key Trends by Geography
3. Thermal Scanner Market - Comparative analysis
3.1 Product/Service Benchmarking – Top 5 Companies
3.2 Top 5 Financials Analysis
3.3 Patent Analysis
3.4 Pricing Analysis
4. Thermal Scanner Market – Startup Companies Scenario (Premium)
4.1 Top 5 Startup Company Analysis by
4.1.3 Market Share
4.1.4 Market Size and Application Analysis
4.1.5 Venture Capital and Funding Scenario
5. Thermal Scanner Market – Industry Market Entry Scenario Premium (Premium)
5.1 Regulatory Framework Overview
5.2 New Business and Ease of Doing Business Index
5.3 Case Studies of Successful Ventures
5.4 Customer Analysis – Top 5 Companies
6. Thermal Scanner Market Forces
6.1 Market Drivers
6.2 Market Constraints
6.3 Market Opportunities
6.4 Porters five force model
6.4.1 Bargaining power of suppliers
6.4.2 Bargaining powers of customers
6.4.3 Threat of new entrants
6.4.4 Rivalry among existing players
6.4.5 Threat of substitutes
7. Thermal Scanner Market – By Strategic Analysis
7.1 Value Chain Analysis
7.2 Opportunities Analysis
7.3 Product Life Cycle
7.4 Suppliers and Distributors
8. Thermal Scanner Market – By Wavelength
8.1 Short Wave Infrared (SWIR)
8.2 Mid Wave Infrared (MWIR)
8.3 Long Wave Infrared (LWIR)
9. Thermal Scanner Market –By Type
10. Thermal Scanner Market –By Technology
11. Thermal Scanner Market –By Application
11.2 Security & Surveillance
11.3 Search and Rescue
12. Thermal Scanner Market –By Industry Vertical
12.1 Aerospace & Defense
12.3 Healthcare & Life sciences
12.4 Oil & Gas
13. Thermal Scanner Market – By Geography
13.1 North America
13.2 South America
13.2.3 Rest of Americas
13.3.6 Rest of Europe
13.4 Asia-Pacific (APAC)
13.4.3 South Korea
13.4.5 Australia & New Zealand
13.4.8 Rest of APAC
13.5 Rest of the World (RoW)
13.5.1 Middle East
14. Thermal Scanner Market – Entropy
14.1 New Product Launches
14.2 M&A’s, Collaborations, JVs and Partnerships
15. Thermal Scanner Market-Industry/Segment Competition Landscape Premium
15.1 Market Share Analysis
15.1.1 Market Share by Country – Top 5 Companies
15.1.2 Market Share by Region – Top 5 Companies
15.1.3 Market Share by Application – Top 5 Companies
15.1.4 Market Share at Global Level – Top 5 Companies
15.1.5 Best Practices for Companies
16. Thermal Scanner Market - Key Company List by Country Premium (Premium)
17. Thermal Scanner Market Company Analysis
17.1 Market Share, Company Revenue, Solution & Services, M&A, Developments
17.2 Fluke Corporation
17.3 Leonardo S.p.A.
17.4 FLIR Systems
17.5 L3Harris Technologies, Inc
17.6 Optotherm, Inc
17.7 Company 6 and more
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