APAC Thermal Imaging Systems Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 5.60 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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APAC Thermal Imaging Systems Market Analysis
Asia Pacific Thermal Imaging Systems market is expected to reach a CAGR of 5.6% over the forecast period (2021 - 2026). The outbreak of the COVID-19 virus has disrupted the supply chain globally, especially in hardware, electronic manufacturing, and semiconductor companies. However, market demand is likely to increase, and several players are launching new products. For instance, in May 2020, Honeywell International, Inc. introduced an AI-enabled thermal imager that detects elevated body temperatures at the entryway of factories, airports, distribution centers, and other commercial buildings.
- Thermal imaging detects a long IR range of the electromagnetic spectrum, which is invisible to the human eye by means of special and sophisticated cameras called Infrared Imagers. Thermal imaging systems have witnessed a paradigm shift in recent years due to their increasing use in military and defense applications. The army and navy popularly use it for border surveillance and law enforcement. It is also used in ship collision avoidance and guidance systems, whereas in the aviation industry, it has greatly mitigated the risks of flying in low light and night conditions.
- To cope with diversely asymmetric, multi-dimensional, and highly lethal imperatives of the battlefield, global armies are modernizing their military arsenal and getting soldiers geared up with the latest in combat and surveillance technology. Motion detection is one of the important element of Automatic Target Recognition (ATR) and perimeter monitoring systems. Thermal imaging has become an integral part of these systems because of its ability to operate in all weather conditions.
- Further, the advent of smartphones as cost-effective handheld/portable thermal imaging devices is expected to increase technology adoption. Caterpillar(Cat) companies have integrated FLIR's thermal imaging camera in the Cat S60 and the latest Cat S61 smartphones.
- Moreover, electrical installations in buildings like an office complex, residential complex, or shopping complex like a mall are mostly located at places with poor air ventilation. Again, it requires an effective maintenance schedule to avoid any mishap. Various surveys in different sectors have shown that predictive maintenance using thermal imaging has saved up to 40% of the maintenance cost and 50% of the plant process's downtime. These factors have a positive outlook on the handheld thermal imaging equipment market.
- Furthermore, It has been expected that the adoption of significant volumes of thermal cameras for SAE automation levels 2 and 3 will likely start in 2022 or 2023, with high annual growth rates. According to UBS, Nvidia, and Intel, the expected autonomous vehicle registration share would reach 12% in 2030 from 0.1% in 2021, and thermal imaging might be the technology autonomous vehicles need to reach level five. Such trends are accelerating the need for thermal imaging systems in the Asia Pacific.
APAC Thermal Imaging Systems Market Trends
This section covers the major market trends shaping the APAC Thermal Imaging Systems market according to our research experts:
Increasing Spending by Government and Defense Activities
- Military and defense were the very first applications of IR and thermal imaging systems. With the defense sector's rising investments in surveillance, IR, and thermal imaging systems, adoption is expected to increase in the future.
- The Asia-Pacific region offers potential growth opportunities due to the rise in technology penetration and high defense spending, and the presence of many small and medium enterprises (SMEs).
- For instance, according to Stockholm International Peace Research Institute, countries like China, India, and Japan have the highest military spending in the region as the countries spent USD 252 billion, USD 72 billion, and USD 49.1 billion respectively in 2020. This drives various opportunities for the vendors in the market.
- Moreover, many startups in the region are gaining attention from the government to utilize thermal imaging systems. For instance, in September 2021, The Indian Army and the Kerala Police developed a keen interest in a startup called Panther that develops thermal imaging surveillance systems. This led to the collaboration with Ozak Technologies and its R&D division to manufacture the thermal imaging equipment for the defense.
India is expected to hold significant market share
- India is expected to hold a significant market share for the thermal imaging systems market during the forecast period due to the increasing adoption of infrared imaging products and services by organizations in the region for applications, such as surveillance, threat detection, automotive, predictive maintenance, and others.
- Most companies are keen on developing a better IR camera to provide detailed infrared information to gain a competitive edge over others. For instance, Telops introduced a high-speed infrared camera, which features a maximum data throughput of larger than 1 Gigapixels. The infrared camera can acquire images at 1900 fps in the full resolution, which can be increased up to 90,000 fps in sub-window mode (64 x 4 pixels.).
- Moreover, in June 2021, the country announced boosting border surveillance through thermal imaging displays for the operator. This is expected to help the army to defend against airborne border incursions. Further, according to the Defence Ministry, ARHMD technology is deployed that incorporates augmented reality and thermal imaging to boost Indian border patrols.
- Solar power is becoming increasingly popular, and solar panels are becoming a costly and vulnerable commodity, leading to the increasing importance of decent security. Many solar park owners opt for a security system based on thermal imaging cameras to protect their investment. For instance, according to International Renewable Energy Agency, India's solar energy capacity rose to 39,211 megawatts in 2020 compared to 25,089 megawatts in 2019
APAC Thermal Imaging Systems Industry Overview
The thermal imaging system market is consolidated, with a considerable number of regional and global players. The major players in the market are trying to gain more market share with product innovations.
- February 2021 - FLIR Systems launched Boson-based thermal camera in Veoneer's fourth-generation Night Vision System as an option on the all-new Cadillac Escalade, identical to the FLIR Thermal Automotive Development Kit (ADK). The new thermal-vision system offers a broader field-of-view with four times the resolution compared to the previous generation, extending road coverage, improving situational awareness, and displaying a sharper image to the driver.
- September 2021 - Iray Technology launched P200 and M200A handheld thermal cameras with Ray thermal CMOS technology. The cameras are expected to offer customers accuracy, efficiency, and portability as it is equipped with a 0-90° rotary lens that enables users to inspect narrow gaps and under car chassis, among multiple other scenarios, where it is usually challenging.
APAC Thermal Imaging Systems Market Leaders
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FLIR Systems Inc.
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Opgal Optronic Industries Ltd.
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Fluke Corporation
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Testo Inc.
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LYNRED
*Disclaimer: Major Players sorted in no particular order
APAC Thermal Imaging Systems Market News
- June 2021- FLIR launched A700f and A500f ruggedized thermal cameras that help in detection for extreme environments paired with on-camera analytics and alarm capabilities for industrial applications. In addition, the cameras help industrial organizations to protect assets, minimize maintenance costs and improve safety along with enhanced spot, line, polygon, area, and polyline analytic functions.
- August 2021 - Lynred launched ATI320, which is an advanced thermal imager with embedded image signal processing. The product features a lens as an additional option, according to the company. Further, the product is suitable for camera makers in consumer equipment and safety and camera makers, for example, in Unmanned Aerial Vehicles (UAVs) during the thermal inspection.
APAC Thermal Imaging Systems Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions and Market Definition
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS
- 4.1 Market Overview
- 4.2 Industry Supply Chain Analysis (Includes list of Thermal Camera Manufacturers, Thermal Imager/Detector Suppliers, Lens Set Suppliers, etc.)
- 4.3 Impact of COVID-19 on the Thermal Imaging Industry
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4.4 Industry Attractiveness - Porter's Five Forces Analysis
- 4.4.1 Threat of New Entrants
- 4.4.2 Bargaining Power of Buyers
- 4.4.3 Bargaining Power of Suppliers
- 4.4.4 Threat of Substitute Products
- 4.4.5 Intensity of Competitive Rivalry
- 4.5 Technology Snapshot (Diffrence between Cooled and Un cooled Thermal imaging sysytem, an understanding on wavelenths susch as shortwave infrared, mid-wave infrared, longwave infrared used to build the system)
5. Market Drivers
- 5.1 Reducing Cost of Thermal Imaging Systems has Led to the Adoption Across various End Users
- 5.2 Increasing Spending by Government and Defense Activities
6. Market Restraints
- 6.1 Lack of Regular Support and Services
7. MARKET SEGMENTATION
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7.1 Application
- 7.1.1 Thermography
- 7.1.2 Maritime and Costal Surveillance
- 7.1.3 Border Surveillance
- 7.1.4 C-UAS/Drones
- 7.1.5 Critical Infrastructure
- 7.1.6 Others( Fighting, Smartphones (Ruggedized), Medical, Personal Vision Systems)
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7.2 Type
- 7.2.1 Handheld Imaging Devices and Systems,
- 7.2.2 Fixed Mounted Systems
- 7.2.3 Thermal Module
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7.3 Product
- 7.3.1 Thermal Camera
- 7.3.2 Thermal Scope
- 7.3.3 Thermal Module
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7.4 End-User vertical
- 7.4.1 Aerospace and Defense
- 7.4.2 Law Enforcement
- 7.4.3 Healthcare
- 7.4.4 Automotive
- 7.4.5 Oil and Gas
- 7.4.6 Manufacturing
- 7.4.7 Others(Residential, Utility, Chemical)
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7.5 Country
- 7.5.1 China
- 7.5.2 Japan
- 7.5.3 India
- 7.5.4 Southeast Asia
- 7.5.5 Rest of Asia Pacific
8. COMPETITIVE LANDSCAPE
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8.1 Company Profiles
- 8.1.1 Fluke Corporation
- 8.1.2 Flir Systems Inc.
- 8.1.3 Opgal Optronic Industries Ltd
- 8.1.4 Testo Inc.
- 8.1.5 Trijicon Inc.
- 8.1.6 Dongguan Xintai Instrument Co., Ltd .
- 8.1.7 LYNRED
- 8.1.8 Thermoteknix Systems Ltd.
- *List Not Exhaustive
9. MARKET OPPORTUNITIES AND FUTURE TRENDS
APAC Thermal Imaging Systems Industry Segmentation
Thermal imaging technology enables users to detect objects or individuals in complete darkness and in difficult and distinct conditions. Unlike the other methods, thermal imaging works in environments without any ambient light. Like near-infrared illumination, thermal imaging can penetrate obscurants, such as smoke, fog, and haze.
| Application | Thermography |
| Maritime and Costal Surveillance | |
| Border Surveillance | |
| C-UAS/Drones | |
| Critical Infrastructure | |
| Others( Fighting, Smartphones (Ruggedized), Medical, Personal Vision Systems) | |
| Type | Handheld Imaging Devices and Systems, |
| Fixed Mounted Systems | |
| Thermal Module | |
| Product | Thermal Camera |
| Thermal Scope | |
| Thermal Module | |
| End-User vertical | Aerospace and Defense |
| Law Enforcement | |
| Healthcare | |
| Automotive | |
| Oil and Gas | |
| Manufacturing | |
| Others(Residential, Utility, Chemical) | |
| Country | China |
| Japan | |
| India | |
| Southeast Asia | |
| Rest of Asia Pacific |
APAC Thermal Imaging Systems Market Research FAQs
What is the current APAC Thermal Imaging Systems Market size?
The APAC Thermal Imaging Systems Market is projected to register a CAGR of 5.60% during the forecast period (2024-2029)
Who are the key players in APAC Thermal Imaging Systems Market?
FLIR Systems Inc., Opgal Optronic Industries Ltd., Fluke Corporation, Testo Inc. and LYNRED are the major companies operating in the APAC Thermal Imaging Systems Market.
What years does this APAC Thermal Imaging Systems Market cover?
The report covers the APAC Thermal Imaging Systems Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the APAC Thermal Imaging Systems Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
APAC Thermal Imaging Systems Industry Report
Statistics for the 2024 APAC Thermal Imaging Systems market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. APAC Thermal Imaging Systems analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
