ID: MRFR/SEM/7238-HCR | February 2021 | Region: Global | 100 pages
Thermal Camera Market was valued at USD 6.85 Billion in 2018; it is expected to reach USD 13.78 Billion by the end of the forecast period at a CAGR of 10.8%. The scope of the thermal camera market study includes the market size analysis and a detailed analysis of the manufacturer’s products, recent developments, vendor landscape, competitive benchmarking and strategies.
Technological advancements across industry verticals have led the manufacturers to reduce the size of semiconductor components, which has resulted in a reduction in the overall device size. Miniaturization increases the proximity of electronic components within a device, which limits the heat transfer and increases the overall temperature of the device. The need for compact electronic components in the automobile industry, consumer electronics, healthcare, and aerospace & defense due to miniaturization is expected to increase the need for efficient heat management solutions and thus the need for thermal cameras. This study on the thermal camera market provides detailed information about the trends and dynamics, market size, competitive landscape, and growth opportunities.
Thermal cameras are the devices that help in monitoring and recording temperatures produced by devices in electrical enclosures. Thermal camera designers have to align the manufactured product in terms of technologies used in the thermal management system. The latest technologies in the thermal management arena function in and around the basic heat transfer modes, i.e., conduction, convection, and radiation. With the rapid development of advanced cooling technologies, it has become easier to maintain reliability and hence prevent premature failure. Thermal cameras have primary applications in high-power military systems, building inspection, and fault detection and diagnostics, and in the fields of medicine and astronomy.
The Thermal Camera Market has been segmented based on Type, Mobility, Application, and Region.
By Type, the Market has been segmented into a cooled IR detector and uncooled IR detector.
By Mobility, the market for Thermal Camera has been segmented into handheld fixed/mounted.
By Application, the Market has been segmented into building inspection, fault detection, law enforcement, medical, industrial process, astronomy, meteorology, and others.
By Region, the market has been segmented into North America, Europe, Asia-Pacific, and the rest of the world.
Globally, the thermal camera market has been categorized as North America, Europe, Asia-Pacific, and the rest of the world. Among the regions mentioned above, North America dominated the market in 2018 owing to the increased adoption of thermal cameras in automotive, medical and manufacturing industries for the applications of fault detection and diagnostics, heat dissipation detection, and meteorology. On the other hand, Asia-Pacific is expected to exhibit the highest CAGR during the forecast period.
Thermal Camera Market, USD Billion
Source: MRFR Analysis
Market Research Future analyzes the major players operating in the thermal camera market research study. The vendors compete based on cost, product quality, and reliability. Vendors in this market are focusing on improving their services and expanding geographically into underdeveloped and developing economies. Their primary focus is on the development of already existing camera technologies with advanced cooling solutions for efficient and optimal maintenance of heat within the devices and equipment. The improvement of the global economic scenario combined with technological advancement in the emerging economies like India, South Africa, China, Brazil, Argentina, and other underdeveloped countries is likely to fuel the market growth, thereby making it an ideal time to expand the thermal camera market geographically and increase the global market share.
The Key Players in the Thermal Camera Market are identified across all the major regions based on their country of origin, presence, recent key developments, product diversification, and industry expertise. Some of them are FLIR Systems Inc, Fluke Corporation, Seek Thermal, InfraTec GmbH, Axis Communications AB, Opgal Optronic Industries Ltd, Jenoptik AG, PCE Instruments, Mobotix AG, LumaSense Technologies Inc, Spectric Plc, Optris GmbH, DIAS Infrared GmbH, Ulirvision Technology Co Ltd, HikVision Digital Technology Co, Micro-Epsilon, Bullit Mobile Ltd, and 3M Scott. These players contribute significantly to market growth. Apart from the top key players, the other players contribute nearly 20–25% in the thermal camera market.
Frequently Asked Questions (FAQ) :
The upsurge in demand from high-power military systems is expected to drive the market in the forecast period.
Opgal Optronic Industries Ltd, PCE Instruments, Axis Communications AB, Mobotix AG, LumaSense Technologies Inc, Spectric Plc, Optris GmbH, Jenoptik AG, DIAS Infrared GmbH and Ulirvision Technology Co Ltd are the market contenders.
USD 13.78 Billion is the expected revenues from the market in the forecast period.
The broad application scope of thermal cameras in the North American region is expected to make the region a leader in the global market.
The interval included in the report is from 2018 to 2025.