Thermal Imaging Market - Forecast(2021 - 2026)

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Thermal Imaging Market Overview

The global Thermal Imaging Market is estimated to surpass $14.2 billion mark by 2026 growing at an estimated CAGR of more than 7.6% during the forecast period 2021 to 2026. The market growth is mainly driven by the factors such as increasing adoption in many sectors like automotive, R&D, Defence, Manufacturing and medical for the thermal solutions. Increasing demand for security and surveillance application in private and public environment is one factor which drives the market. Increased urbanization is expected to increase the demand for additional advanced security solutions. Rising investment in infrastructural systems along with developing demand for surveillance is another key factor for the market growth. Decrease in the cost of thermal cameras has been driving the market. Increased demand for the wireless temperature sensors. These factors are set to boost the market growth for Thermal Imaging during the forecast period 2021-2026

Thermal Imaging Market Report Coverage

The report: “Thermal Imaging Market – Forecast (2021-2026)”, by IndustryARC covers an in-depth analysis of the following segments of the Thermal Imaging Market.

By Technology type: Cooled, Un-cooled
By Product: Thermal Camera, Thermal Scope and Thermal Module
By Wavelength: Short-wave Infrared, Mid-wave Infrared, Long-wave Infrared.
By Application: Security & Surveillance, Detection, Vehicle targeting, Monitoring, Maritime, Critical Infrastructure.
By End User Application: Aerospace, Defence, Automotive, Oil & Gas, Healthcare, Manufacturing, Others
By Geography: North America (U.S, Canada, Mexico), Europe(Germany, UK, France, Italy, Spain, Russia and Others), APAC(China, Japan India, South Korea, Australia and Others), South America and ROW (Middle East and Africa)

Key Takeaways

  • The thermal imaging market is estimated to driven by the factors like increasing demand for the security and surveillance. Also the high demand across the commercial and residential sector is another factor. .
  • North America is expected to hold the major market share due to presence manufacturers and increased R&D for the thermal imaging market.
  • Due to law enforcement activities as well as in the commercial and industrial sectors, there is huge demand for the products in the market.

Thermal Imaging Market, By Technology, 2020

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Thermal Imaging Market Segment Analysis - By Technology type

Thermal imaging Market is segmented into cooled and Un-cooled type. Cooled segment has major market share at 56.2% in 2020 as they can detect even the smallest changes in the temperature. Uncooled thermal imaging is that which has an opportunity to grow during the forecast period due to its low cost devices used in monitoring. These Uncooled segment can be used for the closer monitoring applications around 5KM. It is also less expensive comparatively than the Cooled segment. The manufacturing of the components are also easy and can be done in fewer steps thus propelling adoption. 

Thermal Imaging Market Segment Analysis - By Application

The thermal imaging technology is basically used in commercial, residential, military & defence, and industrial applications. In industrial setup thermal imaging is used to monitor manufacturing process in electrical installation where it is used to detect the errors. In Commercial applications it is mainly utilized in airport security and building diagnosis. Thermal imaging is used in the residential applications because it is cost effective, high production and easily available. This also helps in reducing the time-consumed and expensive invasive investigations, and conducting energy audits, detection of moisture in ceilings, walls, or roofs, and plumbing leaks or blockages. This drives the residential market at 7.9% CAGR through 2026.

Thermal Imaging Market Segment Analysis - By Geography

North America will dominate the market during the forecasted period with a share of 35% in 2020 due to increasing manufacturers, providers and also increasing R&D centres. APAC has the great opportunity during the period due to the military expenses and their impact towards the market. China is one country which spends increasingly more on Military thereby driving market growth. Europe has rising demand for the products like security and surveillance applications also provide great investments on advanced solutions.  

Thermal Imaging Market Drivers

Rising demand for thermal imaging cameras in defence and residential surveillances

The driving factors of Thermal Imaging Market include factors attributed to increased usage of thermal cameras in the military industry for monitoring and night patrolling. Due to its great features like capability of capturing images in rough weather and capturing images from very long distance, the market growth has increased. In Surveillance thermal cameras and other equipments are used heavily. High investments in the infrastructures with security have paved the way for the growth of market.  Medical imaging has advancements in the digital infrared technologies which will also drive the market growth.

Development of Low Priced Products

Development of low-priced or low-cost systems is one of the major challenges of thermal imaging market. These systems penetrate easily into the market, which in turn raises the demand for new apps due to their exceptional features like technological evolutions, outsourcing of work and increased knowledge. The market is also driven by increased demand for low-price infrared and thermal imaging systems which lay path for new applications. With increased focus on the size of the system and also its price, manufactures are more concerned about designing, integration and advancement of the system which results in rise in sales of the thermal cameras. Growing competition is another driver of thermal imaging market, which is forcing manufacturers to increase their manufacturing efficiency and also resulting in demand for technological innovations in the field of optics, sensor size, pyro electrics, thermopiles and many others. This demand is expected to be key factors for continual reduction in cost of thermal imaging systems, along with increase in adoption of thermal imaging systems across various commercial markets.

Thermal Imaging Market Challenges

Restriction of Imports and Exports

The challenges in Thermal Imaging market have always had issues in exports and imports. Exports of thermal and infrared cameras are restricted by many governments across the globe. Rule and Regulations must be followed strictly as they are used for security and surveillances in defence. To start an export/import business in this sector it requires high initial investment. These are the challenging factors in the thermal imaging market.

Thermal Imaging Market Landscape

The market for Thermal Imaging Market is consolidated with the players FLIR systems Inc., BAE Systems Inc., Fluke Corporation, Leonardo S.p.A, Raytheon Company. These companies have adopted both organic and inorganic growth strategies such as product launches and developments, partnerships, agreements, contracts, and mergers & acquisitions to strengthen their position in the market.

Acquisitions/Technology Launches/Partnerships

  • In February, 2020, FLIR Systems, Inc. Launched FLIR A8580 series thermal cameras designed for military, science, and other applications.
  • In December, 2019, Fluke Corporation launched TiS60+ Thermal imaging camera for inspection and analysis applications.

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Uncooled Thermal Imaging Market - Forecast(2021 - 2026)

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1. Thermal Imaging Market Overview
    1.1 Definitions and Scope
2. Thermal Imaging Market - Executive Summary
    2.1 Market Revenue, Market Size and Key Trends by Company
    2.2 Key trends By Application
    2.3 Key trends segmented by Geography
3. Thermal Imaging Market – Market Landscape
    3.1 Comparative Analysis
        3.1.1 Product/Company Benchmarking-Top 5 Companies
        3.1.2 Top 5 Financial Analysis
        3.1.3 Market Value Split by Top 5 Companies
        3.1.4 Patent Analysis
        3.1.5 Pricing Analysis (Comparison of General Price of Industry Solutions)
4. Thermal Imaging Market – Industry Market Entry Scenario Premium (Premium)
    4.1 Regulatory Scenario
    4.2 Ease of Doing Business Index
    4.3 Case Studies
    4.4 Customer Analysis
5. Thermal Imaging Market – Startup Company Scenario (Premium)
    5.1 Venture Capital and Funding Scenario
    5.2 Startup Company Analysis
6. Thermal Imaging Market - Market Forces
    6.1 Market Drivers
    6.2 Market Constraints
    6.3 Porters five force model
        6.3.1 Bargaining power of suppliers
        6.3.2 Bargaining powers of customers
        6.3.3 Threat of new entrants
        6.3.4 Rivalry among existing players
        6.3.5 Threat of substitutes
7. Thermal Imaging Market – By Strategic Analysis (Market Size -$Million/Billion)
    7.1 Value Chain Analysis
    7.2 Opportunities Analysis
    7.3 Product Life Cycle/Market Life Cycle Analysis
8. Thermal Imaging Market – By End Use Industry Standard (Market Size -$Million/Billion)
    8.1 Aerospace
    8.2 Defense
    8.3 Automotive
    8.4 Oil and Gas
    8.5 Healthcare
    8.6 Manufacturing
    8.7 Others
9. Thermal Imaging Market – By Application (Market Size -$Million/Billion)
    9.1 Security and Surveillance
    9.2 Vehicle Targeting
    9.3 Detection
    9.4 Monitoring
    9.5 Maritime
    9.6 Critical Infrastructure
    9.7 Others
10. Thermal Imaging Market – By Wavelength (Market Size -$Million/Billion)
    10.1 Short Wave Infrared
    10.2 Mid Wave Infrared
    10.3 Long Wave Infrared
11. Thermal Imaging Market – By Product (Market Size -$Million/Billion)
    11.1 Thermal Camera
    11.2 Thermal Scope
    11.3 Thermal Module
12. Thermal Imaging Market – By Technology (Market Size -$Million/Billion)
    12.1 Cooled
    12.2 Uncooled
13. Thermal Imaging Market - By Geography (Market Size -$Million/Billion)
    13.1 North America
        13.1.1 U.S
        13.1.2 Canada
        13.1.3 Mexico
    13.2 Europe
        13.2.1 Germany
        13.2.2 France
        13.2.3 UK
        13.2.4 Italy
        13.2.5 Spain
        13.2.6 Russia
        13.2.7 Netherlands
        13.2.8 Others
    13.3 APAC
        13.3.1 China
        13.3.2 Japan
        13.3.3 South Korea
        13.3.4 India
        13.3.5 Australia
        13.3.6 Indonesia
        13.3.7 Malaysia
        13.3.8 Others
    13.4 South America
        13.4.1 Brazil
        13.4.2 Argentina
        13.4.3 Chile
        13.4.4 Colombia
        13.4.5 Others
    13.5 RoW
        13.5.1 Middle East
        13.5.2 Africa
14. Thermal Imaging Market - Market Entropy
    14.1 New product launches
    14.2 M&A's, collaborations, JVs and partnerships
15. Thermal Imaging Market – Industry Competitive Landscape (Premium)
    15.1 Market Share – Global
    15.2 Market Share by Region
    15.3 Market Share By Technology
16. Thermal Imaging Market – Key Company List by Country Premium (Premium)
17. Thermal Imaging Market - Company Analysis
    17.1 Company 1
    17.2 Company 2
    17.3 Company 3
    17.4 Company 4
    17.5 Company 5
    17.6 Company 6
    17.7 Company 7
    17.8 Company 8
    17.9 Company 9
    17.10 Company 10

LIST OF TABLES

1.Global GLOBAL THERMAL IMAGING MARKET BY SOLUTION, Market 2019-2024 ($M)
1.1 Hardware Market 2019-2024 ($M) - Global Industry Research
1.2 Software Market 2019-2024 ($M) - Global Industry Research
1.3 Services Market 2019-2024 ($M) - Global Industry Research
2.Global GLOBAL THERMAL IMAGING MARKET BY SOLUTION, Market 2019-2024 (Volume/Units)
2.1 Hardware Market 2019-2024 (Volume/Units) - Global Industry Research
2.2 Software Market 2019-2024 (Volume/Units) - Global Industry Research
2.3 Services Market 2019-2024 (Volume/Units) - Global Industry Research
3.North America GLOBAL THERMAL IMAGING MARKET BY SOLUTION, Market 2019-2024 ($M)
3.1 Hardware Market 2019-2024 ($M) - Regional Industry Research
3.2 Software Market 2019-2024 ($M) - Regional Industry Research
3.3 Services Market 2019-2024 ($M) - Regional Industry Research
4.South America GLOBAL THERMAL IMAGING MARKET BY SOLUTION, Market 2019-2024 ($M)
4.1 Hardware Market 2019-2024 ($M) - Regional Industry Research
4.2 Software Market 2019-2024 ($M) - Regional Industry Research
4.3 Services Market 2019-2024 ($M) - Regional Industry Research
5.Europe GLOBAL THERMAL IMAGING MARKET BY SOLUTION, Market 2019-2024 ($M)
5.1 Hardware Market 2019-2024 ($M) - Regional Industry Research
5.2 Software Market 2019-2024 ($M) - Regional Industry Research
5.3 Services Market 2019-2024 ($M) - Regional Industry Research
6.APAC GLOBAL THERMAL IMAGING MARKET BY SOLUTION, Market 2019-2024 ($M)
6.1 Hardware Market 2019-2024 ($M) - Regional Industry Research
6.2 Software Market 2019-2024 ($M) - Regional Industry Research
6.3 Services Market 2019-2024 ($M) - Regional Industry Research
7.MENA GLOBAL THERMAL IMAGING MARKET BY SOLUTION, Market 2019-2024 ($M)
7.1 Hardware Market 2019-2024 ($M) - Regional Industry Research
7.2 Software Market 2019-2024 ($M) - Regional Industry Research
7.3 Services Market 2019-2024 ($M) - Regional Industry Research

LIST OF FIGURES

1.US Thermal Imaging Market Revenue, 2019-2024 ($M)
2.Canada Thermal Imaging Market Revenue, 2019-2024 ($M)
3.Mexico Thermal Imaging Market Revenue, 2019-2024 ($M)
4.Brazil Thermal Imaging Market Revenue, 2019-2024 ($M)
5.Argentina Thermal Imaging Market Revenue, 2019-2024 ($M)
6.Peru Thermal Imaging Market Revenue, 2019-2024 ($M)
7.Colombia Thermal Imaging Market Revenue, 2019-2024 ($M)
8.Chile Thermal Imaging Market Revenue, 2019-2024 ($M)
9.Rest of South America Thermal Imaging Market Revenue, 2019-2024 ($M)
10.UK Thermal Imaging Market Revenue, 2019-2024 ($M)
11.Germany Thermal Imaging Market Revenue, 2019-2024 ($M)
12.France Thermal Imaging Market Revenue, 2019-2024 ($M)
13.Italy Thermal Imaging Market Revenue, 2019-2024 ($M)
14.Spain Thermal Imaging Market Revenue, 2019-2024 ($M)
15.Rest of Europe Thermal Imaging Market Revenue, 2019-2024 ($M)
16.China Thermal Imaging Market Revenue, 2019-2024 ($M)
17.India Thermal Imaging Market Revenue, 2019-2024 ($M)
18.Japan Thermal Imaging Market Revenue, 2019-2024 ($M)
19.South Korea Thermal Imaging Market Revenue, 2019-2024 ($M)
20.South Africa Thermal Imaging Market Revenue, 2019-2024 ($M)
21.North America Thermal Imaging By Application
22.South America Thermal Imaging By Application
23.Europe Thermal Imaging By Application
24.APAC Thermal Imaging By Application
25.MENA Thermal Imaging By Application
26.Testo AG, Sales /Revenue, 2015-2018 ($Mn/$Bn)
27.Flir systems, Sales /Revenue, 2015-2018 ($Mn/$Bn)
28.Axis communications, Sales /Revenue, 2015-2018 ($Mn/$Bn)
29.BAE systems, Sales /Revenue, 2015-2018 ($Mn/$Bn)
30.Danaher Corporation, Sales /Revenue, 2015-2018 ($Mn/$Bn)
31.DRS technologies, Sales /Revenue, 2015-2018 ($Mn/$Bn)
32.Infrared Imaging Services LLC., Sales /Revenue, 2015-2018 ($Mn/$Bn)
33.Thermoteknix Systems Ltd., Sales /Revenue, 2015-2018 ($Mn/$Bn)
34.SATIR, Sales /Revenue, 2015-2018 ($Mn/$Bn)
35.Gratton Infrared Services, Sales /Revenue, 2015-2018 ($Mn/$Bn)