Thermal Imaging Systems Market Size (2024 - 2029)

The thermal imaging market is experiencing significant growth, driven by increased demand in sectors such as defense, security, and automotive. Technological advancements have led to the miniaturization of infrared and thermal imaging sensors, enhancing their efficiency and portability, which is boosting their adoption across various industries, including healthcare and transportation. The development of high-performance infrared cameras, particularly with cooled mercury cadmium telluride technology, is further propelling market expansion. Despite challenges like inaccurate measurements and image color issues, the market is benefiting from the rising need for surveillance and the decreasing cost of thermal cameras. The COVID-19 pandemic has also accelerated the demand for thermal imaging solutions, as organizations seek to mitigate illness transmission.

Market Size of Thermal Imaging Systems Industry

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Thermal Imaging Systems Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
CAGR 7.78 %
Fastest Growing Market Asia Pacific
Largest Market North America
Market Concentration Low

Major Players

Thermal Imaging Systems Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Thermal Imaging Systems Market Analysis

The Thermal Imaging Systems market is expected to register a CAGR of 7.78% over the forecast period. The major application of handheld thermal imaging is witnessing increased demand in the defense and security sector. For instance, The US Army aims to provide thousands of new goggles to its soldiers engaged in combat missions.

  • Companies have also miniaturized IR and thermal imaging sensors due to technological advancements, making them highly efficient, thereby increasing their ease of use. Handheld IR and thermal imaging systems gain traction for their portability and find their applications in various industry verticals, such as hospitals, saving repair times and heating costs.
  • Further, automotive applications are expected to gain traction in the next five years. The increasing use of thermal imaging systems such as thermal cameras in the automotive sector to reduce the risks in driving, especially at night, is a significant reason for this application's thermal imaging market growth.
  • Moreover, recent developments in cooled mercury cadmium telluride (MCT or HgCdTe) infrared detector technology have made the development of high-performance infrared cameras possible for various demanding thermal imaging applications.
  • The factors, such as rising demand for surveillance across various verticals, gradually decreasing thermal cameras cost, and rapid development of high-speed infrared cameras, lead to increased demand for IR cameras, consequently driving the market growth.
  • However, inaccurate measurements and image color issues associated with the cameras are challenging market growth. The industries heavily relying on IR cameras are military, defense, and automotive.
  • The COVID-19 Pandemic has increased demand for thermal imaging solutions across various industries, including healthcare, life science, transportation, and others. Several firms have reduced the transmission of illness at their locations. Authorities in nations such as China use thermal cameras and eyewear to identify pedestrians in high temperatures. Personnel addition, police are scanning and identifying persons with elevated body temperatures using AI-powered thermal smart helmets.

Thermal Imaging Systems Industry Segmentation

The scope of the study includes both imagers and thermal cameras. Thermal Detectors with main functionality to sense & detect thermal radiation as opposed to imagers, whose main function is to take an image of thermal radiation.

The Thermal Imaging Systems market is segmented by Application (Thermography, Military, Surveillance, Personal Vision Systems, Fire Fighting, Smartphones (Ruggedized)), Form Factor (Handheld Imaging Devices and Systems, Fixed Mounted Systems), and Geography. The market sizes and forecasts are provided in terms of value (USD million) for all the above segments.

By Application
Thermography
Military
Surveillance
Personal Vision Systems
Fire Fighting
Smartphones (Ruggedized)
Other Applications (Automotive, Maritime, and other commercial)
By Form Factor
Handheld Imaging Devices and Systems
Fixed Mounted (Rotary and Non-Rotary)
By Country
North America
Europe
Asia-Pacific
Rest of the World
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Thermal Imaging Systems Market Size Summary

The thermal imaging market is poised for significant growth, driven by advancements in technology and increasing demand across various sectors. Handheld thermal imaging systems are gaining popularity, particularly in the defense and security sectors, where their portability and efficiency are highly valued. The automotive industry is also expected to see increased adoption of thermal imaging systems, as these technologies enhance safety by reducing nighttime driving risks. Technological advancements, such as the development of high-performance infrared cameras and miniaturized sensors, are further propelling market growth. Despite challenges like inaccurate measurements and image color issues, the demand for infrared cameras is rising, fueled by the need for surveillance and safety across multiple industries.

North America is anticipated to hold a significant share of the thermal imaging market, supported by substantial investments in defense and security. Companies in the region are actively developing innovative products to capitalize on emerging opportunities, such as advanced thermal cameras for automotive applications. The market is characterized by a fragmented landscape with numerous regional and global players, including prominent companies like FLIR Systems Inc. and Seek Thermal Inc. These companies are focusing on product innovations to enhance their market presence. The ongoing demand for thermal imaging solutions in sectors like healthcare, transportation, and defense, coupled with technological advancements, is expected to drive the market's expansion over the forecast period.

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Thermal Imaging Systems Market Size - Table of Contents

  1. 1. MARKET INSIGHTS

    1. 1.1 Market Overview

    2. 1.2 Industry Supply Chain Analysis (Includes list of Thermal Camera Manufacturers, Thermal Imager/Detector Suppliers, Lens Set Suppliers, etc.)

    3. 1.3 Industry Attractiveness - Porter Five Forces

      1. 1.3.1 Bargaining Power of Suppliers

      2. 1.3.2 Bargaining Power of Buyers

      3. 1.3.3 Threat of New Entrants

      4. 1.3.4 Intensity of Competitive Rivalry

      5. 1.3.5 Threat of Substitutes

    4. 1.4 Impact of COVID-19 on the Thermal Imaging Industry

    5. 1.5 Global Pricing Analysis - By Application and By Technology

  2. 2. MARKET SEGMENTATION

    1. 2.1 By Application

      1. 2.1.1 Thermography

      2. 2.1.2 Military

      3. 2.1.3 Surveillance

      4. 2.1.4 Personal Vision Systems

      5. 2.1.5 Fire Fighting

      6. 2.1.6 Smartphones (Ruggedized)

      7. 2.1.7 Other Applications (Automotive, Maritime, and other commercial)

    2. 2.2 By Form Factor

      1. 2.2.1 Handheld Imaging Devices and Systems

      2. 2.2.2 Fixed Mounted (Rotary and Non-Rotary)

    3. 2.3 By Country

      1. 2.3.1 North America

      2. 2.3.2 Europe

      3. 2.3.3 Asia-Pacific

      4. 2.3.4 Rest of the World

Thermal Imaging Systems Market Size FAQs

The Thermal Imaging Systems Market is projected to register a CAGR of 7.78% during the forecast period (2024-2029)

FLIR Systems Inc., Opgal Optronic Industries Ltd.​, Fluke Corporation​, Testo Inc.​ and Seek Thermal Inc. are the major companies operating in the Thermal Imaging Systems Market.

Thermal Imaging Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)