Thermal Imaging Market Size to exceed $10bn by 2024

Thermal Imaging Market size is poised to exceed USD 10 billion by 2024; according to a new research report by Global Market Insights, Inc. The industry shipments will grow at 13% CAGR between 2018 and 2024.
 

Technological innovations and miniaturization will drive the thermal imaging market demand. The use of thermal cameras in Self-Contained Breathing Apparatus (SCBA) equipment, drones, UAVs, CCTVs, IP, robotics, and smartphones is expected to expand the application scope of the technology. The availability of ruggedized devices that function under adverse environmental conditions enable quick decision making for search & rescue and monitoring teams. Moreover, the emergence and incorporation of communication interfaces have favorably impacted user adoption and ease-of-use. In Advanced Driver Assistance Systems (ADAS), the standard sensor suite includes radar, ultrasound, LiDAR, and visible cameras. However, with the incorporation of thermal imaging, the technology can be equipped with better capabilities for night vision and distinct classification & detection of objects. It can also be used in pedestrian/animal detection, emergency brake assist, and night vision solutions. These imagers are unaffected by darkness, smoke, and sunlight glare. These systems can see clearly even in a cluttered environment.

 

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In an IoT environment, different internet-enabled devices work in synergy to provide an ultimate control of data management to the end users. IoT enables smarter and connected devices to offer intelligence and analytics. Safety alerts and messages can be sent to several people quickly and effectively, encouraging manufacturers to develop internet-enabled thermal imagers. In 2018, Seek Thermal demonstrated its thermal imaging technology concept designed for IoT applications at the CES 2018. The inclusion of artificial imaging technology with thermographic imagery opens up new avenues for application segments across a dynamic and interconnected technological environment. Moreover, IoT applications use cloud computing and enable remote/mobile monitoring notifications. Low-cost imagers can be also used to detect fire and floods. Such factors are driving the thermal imaging market growth.
 

Thermal Imaging Market

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Browse key industry insights spread across 500 pages with 783 market data tables & 45 figures & charts from the report, “Thermal Imaging Market Size By Product (Handheld/Portable Camera, Fixed/Mounted Core, Scopes & Vision Goggles), By Technology (Cooled, Uncooled), By End-Use (Automotive, Commercial, Government & Defense, Healthcare & Life Science, Industrial, Residential), By Application (Detection & Measurement, Monitoring & Inspection, Personal Vision System, Search & Rescue, Security & Surveillance), Industry Analysis Report, Regional Outlook (U.S., Canada, UK, Germany, France, Italy, Spain, Russia, China, India, Japan, South Korea, Malaysia, Australia, Brazil, Mexico, Saudi Arabia, UAE, Israel, South Africa), Application Potential, Competitive Market Share & Forecast, 2018 – 2024” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/thermal-imaging-market
 

Uncooled cameras are expected to gain a significant share in the thermal imaging market over the forecast period due to the rising demand from commercial applications. The availability of affordable and small-size detectors has led to the integration of the technology across consumer electronic devices. Moreover, the availability of full HD uncooled thermal cameras is anticipated to boost the adoption of the technology across high-resolution applications such as automotive diagnostics, special industrial detection, wide area surveillance, military imaging, and border protection. The long service life of these cameras, low power requirements, and cheaper manufacturing process have resulted in the popularity of the technology across several application segments.
 

In the European thermal imaging market, the demand for the technology is witnessed in the passenger car segment. For instance, in 2018, Volkswagen announced that it would be providing the technology in its Touareg 2019 model in the European market. Furthermore, in January 2018, Seek Thermal showcased a high-resolution thermal camera for automotive aftermarket priced at under USD 999. These cameras enable improved road safety by enhancing driver awareness. The integration of the technology with automotive infotainment system creates a seamless solution for visualization and decision making while containing costs. Thermal imagers significantly reduce the potential hazards of nighttime driving by enabling drivers to monitor and detect animals, pedestrians, or objects on or near the road, and react to any potential danger in time. Thermal cameras are also popularly used for automotive diagnostics by engineers to improve design, quality, and performance of cars.
 

Players operating in the thermal imaging market are ULIS, Seek Thermal, Tonbo Imaging, BAE Systems Imaging Solutions, FLIR Systems, Inc., Fluke Corporation, Leonardo DRS, L3 Technologies, Inc., Raytheon Company, Axis Communications (parent Canon Inc.), and 3M Scott, among others. To expand or to maintain the market share, these companies need to continue enhancing their business processes to reduce the cost of its products and introduce improvements, which lower the overall costs. Increasing competition could affect the business revenue and profit margin while exerting price pressure, which is expected to increase despite the demand growth.
 

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The thermal imaging market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD and shipment in units from 2013 to 2024, for the following segments:

By Product

  • Handheld/portable camera
  • Fixed/mounted core
  • Scopes & vision googles

By Technology

  • Cooled
  • Uncooled

By End-Use

  • Automotive
  • Commercial
  • Government & defense
  • Healthcare & life sciences
  • Industrial
  • Residential
  • Others

By Application

  • Detection & measurement
  • Monitoring & inspection
  • Personal vision systems
  • Search & rescue
  • Security & surveillance
  • Others

The above information is provided on a regional and country basis for the following:

  • North America
    • U.S.
    • Canada
  • Europe
    • UK
    • Germany
    • France
    • Italy
    • Spain
    • Russia
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Malaysia
    • Australia
  • Latin America
    • Brazil
    • Mexico
  • Middle East & Africa (MEA)
    • Saudi Arabia
    • UAE
    • Israel
    • South Africa

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