Thermal Camera Market Research Report - Forecast till 2030

Thermal Camera Market Information By Type (Cooled IR detector and Uncooled IR detector), By Mobility (Handheld fixed and Handheld mounted), By Application (Building inspection, Fault detection, Law enforcement, Medical, Industrial process, Astronomy, Meteorology, and Others), and Region (North America, Europe, Asia-Pacific, and the Rest of the World)—Forecast till 2030

ID: MRFR/SEM/7238-HCR | February 2023 | Region: Global | 100 Pages         

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Thermal Camera Market

The thermal Camera Market is expected to reach USD 6.8 Billion by the end of the forecast period 2022-2030, at a CAGR of 7.20%.

Segmentation
By Type Cooled IR detector Uncooled IR detector
By Mobility Handheld fixed Handheld Mounted
By Application Building inspection Fault detection Law enforcement Medical Industrial process Astronomy Meteorology Others
Key Players
Companies Profiled   FLIR Systems Inc.    Seek Thermal    Axis Communications AB    Opgal Optronic Industries Ltd.    Jenoptik AG    Fluke Corporation    PCE Instruments    Mobotix AG    LumaSense Technologies Inc.    Spectronic Plc.    Optris GmbH    Schneider Electric SE    DIAS Infrared GmbH    InfraTec GmbH    Ulirvision Technology Co. Ltd.    HikVision Digital Technology Co.    Micro-Epsilon    Caterpillar Inc.    Bullit Mobile Ltd.    3M Scott
Drivers
Market Driving Forces   Rapid development of new cooling technologies
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Global Thermal Camera Market Research (MRFR Insights)


The thermal camera market is projected to register a CAGR of 7.20% from 2022 to 2030. The thermal camera market size is expected to reach approximately USD 6.80 billion by 2030. A thermal camera is a non-contact technology that detects infrared radiation (heat) and converts it into a photographic image. Increased demand for thermal cameras in the automotive and healthcare sectors is expected to fuel revenue growth worldwide. The term "responsibility" refers to determining whether or not a person is responsible for the actions of another person. Thermal imaging technology is employed in various industrial and commercial applications, including manufacturing and logistics, law enforcement, homeland security, construction, and agriculture. However, some barriers are anticipated to restraimthe market's expansion. Because of their bulky shape and high processing needs, thermal cameras are only available in restricted configurations for edge use. For instance, thermal cameras are unsuitable for low-light conditions due to poor image quality. Nonetheless, our research predicts that these obstacles will be addressed over time as more firms build thermal cameras targeted to specific applications.


COVID-19 Impact Analysis


The COVID-19 outbreak impacted the industrial supply chain for thermal cameras. Several firms experienced supply chain disruptions and manufacturing plant shutdowns, forcing production to be delayed by several weeks. One reason is that a full thermal camera contains materials from all over the world, such as focal plane arrays or read-out integrated circuits, retinas, packaging, lenses, and other components. Furthermore, most businesses were fully shut down at the start of the outbreak, and it took time to bring things back to normal, and strict safeguards were put in place to protect employees returning to work.


Thermal Camera Market Dynamics


The key drivers of this expansion in the market include the rising demand for safety applications in commercial and industrial settings and the requirement for higher video quality in surveillance systems. However, the market is currently constrained by various problems, including inferior image quality due to low-resolution cameras and thermal camera sensors with limited storage capacity. Furthermore, legislative constraints with safety surveillance and privacy concerns impede implementation in some regions.


Market Drivers



  • Increased R&D activities by key market players and technological improvements in thermal cameras


The market for thermal imaging cameras has a promising future, thanks to increased R&D spending by leading industry participants and a higher emphasis on the application of breakthrough technology. The revenue growth of the thermal cameras market is predicted to increase as surveillance technologies develop and the security & surveillance industry expands. Demand for thermal imaging cameras will increase as thermal imaging technology becomes more widely used in perimeter security and the cost of thermal imaging equipment decreases. Increased acceptance of thermal imaging in the automobile industry and supportive government regulations and initiatives are likely to drive thermal camera demand.



  • Increasing the military budget of countries to revolutionize the military armaments


Increasing the military budget to revamp the country's military armaments is expected to stimulate revenue growth in the region. For example, China is currently the world's second-largest country with a major military arms budget.


Market Restraints:



  • The United States government's export limitations on thermal imaging cameras


The United States government's export limitations on thermal imaging cameras are projected to limit market revenue growth over the forecast period. Thermal camera makers will be prohibited from selling their products to buyers in the United States or outside the country without obtaining an export license, and they will risk penalties if they do not comply with the laws.


Market Opportunities:



  • Rising thermal camera demand from the automotive and medical industries provides an opportunity


Thermal cameras are used in the automotive industry to assist drivers in seeing in low-light and severe weather circumstances, decreasing accidents, and ensuring safety. The automobile industry collaborates with suppliers of thermal imaging to develop cutting-edge thermal imaging technologies. For instance, Magnetic Marely, an Italian developer and manufacturer of high-tech automotive components, worked on developing the Viper thermal detection camera. Thermal imaging technology is also utilized for non-destructive testing of automobile components such as tires and brakes, as well as micro-components, to assure vehicle safety while saving time and money.


Thermal Camera Market Segmentation Overview


Type Insights


The thermal camera market segmentation, by type, is cooled IR detector and uncooled IR detector. The uncooled IR detector sector has emerged as the fastest expanding segment in the thermal camera market growth in 2021 due to the cost-effective features it offers the consumer. In comparison to the other market segments, the manufacturing procedure is simpler. These gadgets have a range of about 4 to 5 kilometers.


Mobility Insights


The thermal camera market segmentation, by mobility, is handheld fixed and handheld mounted. The handheld cameras sub-segment held the dominant market share in 2021. Due to its broader range of applications, such as thermal imaging, predictive maintenance, and medical imaging, the handheld thermal cameras sub-segment is expected to grow the most throughout the forecast period. Furthermore, the healthcare industry's increasing need for these devices to detect body temperature and other purposes drives demand for these cameras.


Application Insights


By application, the market is segmented into building inspection, fault detection, law enforcement, medical, industrial process, astronomy, meteorology, and others. building inspection led the market in 2021 and is expected to grow at the fastest CAGR during the forecast period. Thermal cameras based on infrared technology are commonly used in the oil & gas industry for condition monitoring and predictive maintenance. Furthermore, because it does not need to touch the object being monitored, infrared technology has the edge over traditional eye examination and other techniques. Thermal radiation is affected proportionally by temperature changes. To put it another way, when the temperature of a component varies, so does the amount of radiation it emits. Thermal cameras are essential for component inspection because the human eye cannot see electromagnetic waves. These variables are expected to promote market growth.


Global Thermal Camera Market Share by Region, 2021 (%)
Thermal Camera Market Share by Region, 2021
Thermal Camera Market Overview by Region


By Region, the thermal camera market has been divided into North America, Europe, Asia-Pacific, and the Rest of the World. North American region accounted for the most extensive market share. Asia-Pacific will exhibit the highest CAGR during the forecast period.


North America


Due to significant thermal camera manufacturers in this region, the North American market for these devices is anticipated to be the most dominant over the anticipated period. Thermal imaging machines such as scopes, thermal cameras, and modules are mass-produced in massive quantities in the region. Increased government investments in the military and defense sectors have also contributed to market revenue growth.


Asia-Pacific


Over the forecast period, Asia-Pacific is expected to have the highest CAGR. The market impact of military spending at this moment is a significant opportunity for APAC. China, for example, is increasing its military spending, fueling market development. Security and surveillance applications are in high demand in Europe, and major investments in novel solutions are being made. FLIR is the world's top maker of thermal cameras.


Thermal Camera Market Competitive Landscape


The market includes tier-1, tier-2, and local players. The tier-1 and tier-2 players have reach with diverse product portfolios. Companies such as FLIR Systems Inc., Seek Thermal, Axis Communications AB, Opgal Optronic Industries Ltd., Jenoptik AG, and Fluke Corporation dominate the market due to product differentiation, financial stability, strategic developments, and diversified regional presence. The players are concentrating on supporting research and development. Furthermore, they embrace strategic growth initiatives, such as development, product introduction, joint ventures, and partnerships, to strengthen their market position and capture an extensive customer base.


Prominent thermal camera market research players include FLIR Systems Inc., Seek Thermal, Axis Communications AB, Opgal Optronic Industries Ltd., Jenoptik AG, PCE Instruments, Mobotix AG, Fluke Corporation, LumaSense Technologies Inc., Spectronic Plc., Optris, among others.


Scope of the Thermal Camera Market Report


Type Outlook (Revenue, USD Million, 2022-2030)



  • Cooled IR detector

  • Uncooled IR detector


Mobility Outlook (Revenue, USD Million, 2022-2030)



  • Handheld fixed

  • Handheld mounted


Application Outlook (Revenue, USD Million, 2022-2030)



  • Building inspection

  • Fault detection

  • Law enforcement

  • Medical

  • Industrial process

  • Astronomy

  • Meteorology

  • Others


Region Outlook (Revenue, USD Million, 2022-2030)




  • North America

    • US

    • Canada

    • Mexico




  • Europe

    • UK

    • Germany

    • France

    • Italy

    • Spain

    • Rest of Europe




  • Asia-Pacific

    • China

    • India

    • Japan

    • Australia and New Zealand

    • Rest of Asia-Pacific




  • Rest of the World

    • South America

    • Middle East

    • Africa




Objectives of the Study


The objectives of the study are summarized in 5 stages. They are as mentioned below:


Thermal Camera Market Forecast & Size:


To identify and estimate the market size for the thermal camera market report segmented by type, mobility, and application by value (in US dollars). Also, to understand the consumption/ demand created by consumers in the thermal camera market forecast between 2022 and 2030.


Market Landscape and Trends:


To identify and infer the drivers, restraints, opportunities, and challenges in the  thermal camera market growth


Market Influencing Factors:


To find out the factors which are affecting the  thermal camera market size among consumers


Impact of COVID-19:


To identify and understand the various factors involved in the market affected by the pandemic


Company Profiling:


To provide a detailed insight into the major companies operating in the market. The profiling will include the company's financial health in the past 2-3 years with segmental and regional revenue breakup, product offering, recent developments, SWOT analysis, statistics, and key strategies.


Intended Audience



  • Producers

  • Raw material suppliers

  • Retailers, wholesalers, and distributors

  • Governments, associations, and industrial bodies



Report Scope:

Report Attribute/Metric Details
  Market Size   USD 6.8 Billion
  CAGR   7.20% (2022-2030)
  Base Year   2021
  Forecast Period   2022-2030
  Historical Data   2020
  Forecast Units   Value (USD Billion)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   Type, Mobility, and Application
  Geographies Covered   North America, Europe, Asia-Pacific, and the Rest of the World (RoW)
  Key Vendors   FLIR Systems Inc., Axis Communications AB, Seek Thermal, Opgal Optronic Industries Ltd., Jenoptik AG, Fluke Corporation, PCE Instruments, LumaSense Technologies Inc., Mobotix AG, Spectronic Plc., Optris GmbH
  Key Market Opportunities   Rising thermal camera demand from the automotive and medical industries
  Key Market Drivers   Increasing the military budget of countries to revolutionize the military armaments


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Frequently Asked Questions (FAQ) :

The thermal camera market forecast period is 2022 - 2030

The market is expected to register a CAGR of ~7.20% over the next 10 years, according to  thermal camera market research.

Asia-Pacific is expected to register the highest CAGR during 2022 - 2030

North America held the largest share in 2021

The market size is expected to be USD 6.80 billion by 2030.

Seek Thermal, Axis Communications AB, FLIR Systems Inc., Opgal Optronic Industries Ltd., Mobotix AG, LumaSense Technologies Inc., and Spectronic Plc are the major companies operating in the market.