Thermal Camera Market by Product Type (Handheld Cameras and Standstill Cameras), Application (Security & Surveillance, Monitoring & Inspection, and Detection & Measurement), End-use (Industrial, Aerospace & Defense, Automotive, and Others (Law Enforcement, Healthcare, and Marine), and Regional Analysis (North America, Europe, Asia-Pacific, and LAMEA): Global Opportunity Analysis and Industry Forecast, 2022-2030

Electronic Systems and Devices

SE20115141

Pages: 250

Jul 2022

Reports Overview

Global Thermal Camera Market Analysis

The global thermal camera market size is predicted to garner a revenue of $11,332.2 million by 2030, growing from $6,200 million in 2021, at a healthy CAGR of 6.79%.

Market Synopsis

A thermal camera is a non-contact equipment that senses infrared energy (heat) and changes it into a photographic image. Increase in demand for thermal cameras among the automotive and healthcare sectors is projected to drive the global thermal camera market revenue growth. Increasing demand for advance thermal imaging solutions in end-use verticals such as the military & defense sector and healthcare & life science sector is driving the market forward.

Export restrictions on thermal imaging cameras imposed by the U.S. Government are expected to restrain market revenue growth throughout the predicted period. Under these restrictions, manufacturers of thermal cameras will be banned from selling their products to buyers in the U.S. or out of the country without first attaining an export license, and if they fail to obey with the rules they will face penalties.

During the forecast period, increased R&D activities by key market players and technological advances in thermal cameras are expected to drive revenue growth of the thermal camera market.

According to the regional analysis of the market, the Asia-Pacific thermal camera market share is anticipated to grow during the review period. Increasing military budget to revolutionize the country’s military armaments, is predicted to drive revenue growth of the market in the region. For instance, currently, China is the second-largest country across the world with a significant military armaments budget.

Thermal Camera Overview

Thermal imaging is the process of using Infrared (IR) radiation emitted from an object to capture and construct an image of the object using a thermal camera. Thermal imagers use heat instead of visible light to produce images. Although, heat (also referred as heat energy or infrared) and light are both components of the electromagnetic spectrum, a camera that can identify visible light cannot detect thermal energy and vice versa. Thermal cameras collect IR energy and convert it to analog or digital video outputs to create images. Thermal cameras, which were originally developed for surveillance and military operations, are now widely used for building inspections (insulation, moisture, insulation, roofing, and others), firefighting, autonomous vehicles & automatic braking, skin temperature screening, industrial inspections, scientific research, and other applications.

COVID-19 Impact on Thermal Camera Market

The thermal camera industrial supply chain was disrupted due to the COVID-19 pandemic. Supply chain interruptions and manufacturing plants shutdowns were experienced by several organizations, causing production to be delayed by several weeks. One reason is that a complete thermal camera includes materials from a range of suppliers all over the world, such as focal plane arrays or read out integrated circuits, lenses, retinas, packaging, and other components. Furthermore, most businesses were shut down completely at the start of the outbreak, and it took time to get back things to normalize and rigorous measures were implemented to protect people returning to work.

However, due to the demand for thermal imaging solutions that can detect temperature from far, demand for thermal cameras has increased which resulted in a moderate effect on the overall market revenue growth.

Rising Demand for Thermal Cameras from the Automotive and Medical Industry to Boost the Market Growth

Thermal cameras are used in the automotive industry to help drivers see in poor light and bad weather conditions, reducing accidents and maintaining safety. To create cutting-edge thermal imaging technology, the automobile industry is working with thermal imaging solution providers. For example, Magnetic Marely, an Italian developer and manufacturer of high-tech car components, collaborated on the development of the Viper thermal detection camera. In order to ensure vehicle safety while saving time and money, thermal imaging technology is also used for non-destructive testing of automotive components such as tires and brakes, as well as micro-components.

Immunoreactive trypsinogen (IRT) has been used to successfully diagnose breast cancer, diabetic neuropathy, and peripheral vascular diseases in the medical field. It has also been utilized to detect issues in gynecology, neonatal, cardiology, fever screening, brain imaging, and kidney transplantation, the infrared energy of objects is detected and measured using an infrared camera (also known as a thermal imager). The camera turns the infrared data into an electronic image of the object being measured, displaying the apparent surface temperature.

To know more about global thermal camera market drivers, get in touch with our analysts here.

Restrictions Imposed by Various Governments on Thermal Cameras Might Hamper the Market Growth

The market expansion may be hampered by restrictions placed on thermal camera vendors and manufacturers by various nations such as the U.S. High capital and maintenance expenditures are also anticipated to constrain market expansion. The use of infrared cameras requires expensive sensors, which makes the finished product more expensive and restricts the market expansion. Infrared cameras are used to measure thermal variations. Erroneous readings are frequently the result of infrared cameras' inability to distinguish between objects with similar temperatures.

A flaw in the thermal camera in particular objects with fluctuating temperatures & images are challenging to interpret. Different emissivity and reflections from surfaces make accurate temperature measuring difficult. For the investigation of submerged objects, thermal imaging cameras are not used.

Thermal Camera Market is expected to Benefit from Technological Advancements and R&D Activities

Owing to increased spending on R&D by the key market players and a greater focus on implementation of breakthrough technology, the market for thermal imaging cameras has a bright future. As surveillance technologies improve and the security & surveillance industry expands, revenue growth of the thermal cameras market is expected to increase. As thermal imaging technology becomes more frequently used in perimeter security and cost of thermal imaging equipment falls, demand for thermal imaging cameras will rise. Increased acceptance of thermal imaging in the vehicle industry, as well as supportive government legislation and initiatives are factors expected to boost demand for thermal cameras.

To know more about global thermal camera market drivers, get in touch with our analysts here.

Thermal Camera Market, by Product Type

Based on product type, the thermal camera market has been sub-segmented into handheld cameras and standstill cameras. Out of which the handheld cameras sub-segment is projected to generate the maximum revenue during the forecast period.