Table of Contents
Historical Data, Premium Insights, Market Dynamic, Analysis and Projection, By Product, Analysis and Projection, By Application, Analysis and Projection, By End-Use, Analysis and Projection, By Regional Analysis, Competitive Landscape, Company Profiles, Market Revenue, Sale & Price Analysis
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According to a research report published by Spherical Insights & Consulting, the Global Thermal Imaging Market Size is Expected to Grow from USD 5.24 Billion in 2023 to USD 12.01 Billion by 2033, Growing at a CAGR of 8.65% during the forecast period 2023-2033.
Browse key industry insights spread across 215 pages with 110 Market data tables and figures & charts from the report on the Global Thermal Imaging Market Size, Share, and COVID-19 Impact Analysis, By Product Type (Cameras, Scopes, and Modules), By Technology (Cooled and Uncooled), By Application (Security & Surveillance, Monitoring & Inspection, and Detection & Measurement), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033.
The technology known as thermal imaging makes it possible to see the heat radiation that things and living things emit. It creates a visible image by detecting and transforming the infrared radiation, or heat, that substances release. Applications for this technology have several such as environmental monitoring, industrial inspections, medical diagnostics, firefighting, security, and surveillance. The primary drivers of the global market's expansion include rising government spending on the aerospace and military industry, which is propelling the thermal imaging market's expansion. The automobile industry is using thermal imaging more and more, and companies, governments, and capital firms are investing more in research and development to create innovative thermal imaging solutions. The market is growing as a result of the military and defense industries' rising need for advanced thermal imaging cameras due to combat activities and night patrols. However, thermal imaging cameras' high price remains a significant obstacle, particularly for small and medium-sized businesses (SMEs) and emerging economies.
The cameras segment is expected to hold the largest market share of the global thermal imaging market through the projected timeframe.
Based on the product type, the thermal imaging market is classified into cameras, scopes, and modules. Among these, the cameras segment is expected to hold the largest market share of the global thermal imaging market through the projected timeframe. There are several reasons for this domination, including the rapid production of high-quality electronic images, a broad spectrum of categories (independent, mounted, and handheld), and the range of small and nano sizes available.
The cooled segment is predicted to hold the highest market share in the global thermal imaging market through the projected timeframe.
Based on the technology, the thermal imaging market is classified into cooled and uncooled. Among these, the cooled segment is predicted to hold the highest market share in the global thermal imaging market through the projected timeframe. The sensitivity, high level of accuracy, long-range detection, and image resolution of this segment are responsible for its highest market share. These attributes enable the detection of minute temperature differences and the capture of detailed thermal images. Additionally, the use of cooled thermal imaging is expanding for extreme environmental conditions, such as cold regions or high-temperature industrial environments.
The security & surveillance segment is expected to hold a significant market share of the global thermal imaging market through the projected period.
Based on the application, the thermal imaging market is classified into security & surveillance, monitoring & inspection, and detection & measurement. Among these, the security & surveillance segment is expected to hold a significant market share of the global thermal imaging market through the projected period. The demand for sophisticated thermal imaging systems for security and surveillance applications is rising as a result of rapid urbanization. There is an increasing need for well-equipped systems to monitor the nation's borders and safeguard them from opponents who may illegally access them due to the rise in international conflicts and terrorist attacks.
North America is expected to hold the largest share of the thermal imaging market through the forecast period.
North America is expected to hold the largest share of the thermal imaging market through the forecast period. The North American thermal imaging market is anticipated to become the leading region due to the rising demand for thermal imaging equipment across various law enforcement operations. Additionally, during the projection period, product demand is anticipated to be driven by growth in both the commercial and industrial sectors. Thermal imaging technology is also being adopted by the North American industrial sector for maintenance and inspection applications. By allowing effective and non-destructive testing of infrastructure and equipment, thermal imaging cameras allow companies to spot possible issues and avert significant failures.
Asia Pacific is predicted to grow at the fastest CAGR of the thermal imaging market over the forecast period. The region's growing industrial sector and applications that drive the need for thermal imaging to monitor equipment, improve safety, and carry out preventive maintenance, as well as the region's growing healthcare infrastructure and emphasis on improving medical diagnostics, are all factors driving the growth of this regional market. Additional factors include growing security concerns, rising investments in border security, public safety, and surveillance systems, and more.
Competitive Analysis
Major key players in the thermal imaging market include Honeywell International Inc., Axis Communications AB, BAE Systems, Inc., Leonardo DRS, Teledyne FLIR LLC, Lockheed Martin Corporation, Raytheon Technologies Corporation, Lynred USA, Testo SE & Co. KGaA, Thermoteknix Systems Ltd, Safran Group, and Others.
Recent Developments
Key Target Audience
Market Segment
This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the thermal imaging market based on the below-mentioned segments:
Global Thermal Imaging Market, By Product Type
Global Thermal Imaging Market, By Technology
Global Thermal Imaging Market, By Application
Global Thermal Imaging Market, By Regional Analysis
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