HOME Top Market Reports Thermal Imaging Market by Component (Hardware, Software, Services), Application (Surveillance, Threat Detection, Radiology, Automotive, and Others), End User (Military & Defense and Industrial, Commercial & Residential), and Region - Global Forecast to 2021

Thermal Imaging Market by Component (Hardware, Software, Services), Application (Surveillance, Threat Detection, Radiology, Automotive, and Others), End User (Military & Defense and Industrial, Commercial & Residential), and Region - Global Forecast to 2021

By: marketsandmarkets.com
Publishing Date: September 2016
Report Code: TC 3414

 

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The global thermal imaging market is estimated to grow from USD 7.71 Billion in 2016 to USD 10.27 Billion by 2021, at a Compound Annual Growth Rate (CAGR) of 5.9%. The objectives of the report are to define, describe, and forecast the global  market on the basis of components, applications, end users, and regions, to provide detailed information regarding the key factors influencing market growth (drivers, restraints, opportunities, and challenges), and to forecast the market size of market segments with respect to five main regions, namely, North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and Latin America. The base year considered for the study is 2015 and the market size is projected for the period 2016–2021.

The research methodology used to estimate and forecast the thermal imaging market begins with capturing data on key vendor revenues through secondary research sources, directories, and databases, such as Hoovers, Bloomberg, Businessweek, Factiva, and OneSource. The vendor offerings are also taken into consideration to determine the market segmentation. The bottom-up procedure has been employed to arrive at the overall market size of the global market from the revenue of the key players in the market. After arriving at the overall market size, the total market has been split into several segments and subsegments, which have been then verified through primary research by conducting extensive interviews with key people, such as CEOs, VPs, directors, and executives. The data triangulation and market breakdown procedures have been employed to complete the overall market engineering process and arrive at the exact statistics for all segments and subsegments. The breakdown of profiles of primaries is depicted in the below figure:

Thermal Imaging Market

To know about the assumptions considered for the study, download the pdf brochure

The thermal imaging market ecosystem comprises thermal imaging hardware and associated software and service providers such as FLIR Systems, Inc. (Wilsonville, Oregon, U.S.), Fluke Corporation (Washington, U.S.), Bae Systems (London, U.K.), Axis Communications (Lund, Sweden), Honeywell International, Inc. (New Jersey, U.S.), and Raytheon Company(Waltham, Massachusetts, U.S.); thermal imaging original equipment manufacturers (OEMs) such as L-3 Communications Holdings, Inc. (New York, U.S.), and Thermoteknix Systems Ltd. (Cambridge, U.K.); thermal imaging cores, components/ sensors manufacturers such as DRS Technologies, Inc. (Arlington, Virginia, U.S.), and Testo AG (Lenzkirch, Germany), and other system integrators and value-added resellers which cater to the unique business requirements of the end users.

Key Target Audience:

  • Thermal imaging vendors
  • Research organizations
  • Government agencies
  • Consulting companies
  • Value-added resellers

“Study answers several questions for the stakeholders, primarily which market segments to focus in the next two to five years for prioritizing the efforts and investments.”

Scope of the Report

The research report segments the thermal imaging market into the following submarkets:

By Component:

  • Hardware
  • Software
  • Services

By Application:

  • Surveillance (airborne, maritime, land)
  • Threat detection
  • Surveys
  • Predictive maintenance
  • Radiology
  • Intelligent transportation system
  • Commercial and residential security
  • Personal vision
  • Firefighting
  • Research and development
  • Automotive
  • Veterinary
  • Others

By End User:

  • Military and defense
  • Industrial, commercial, and residential

By Region:

  • North America
  • Europe
  • APAC
  • MEA
  • Latin America

Available Customizations

With the given market data, MarketsandMarkets offers customizations as per the company’s specific needs. The following customization options are available for the report:

Product Analysis

  • Product matrix which gives a detailed comparison of product portfolio of each company

Geographic Analysis

  • Further breakdown of the North American thermal imaging market
  • Further breakdown of the European market
  • Further breakdown of the APAC market
  • Further breakdown of the MEA market
  • Further breakdown of the Latin American thermal imaging market

Company Information

  • Detailed analysis and profiling of additional market players

Table of Contents

1 Introduction (Page No. - 14)
    1.1 Objectives of the Report
    1.2 Market Definition
    1.3 Market Scope
           1.3.1 Markets Covered
           1.3.2 Years Considered in the Report
    1.4 Currency
    1.5 Limitations
    1.6 Stakeholders

2 Research Methodology (Page No. - 18)
    2.1 Introduction
    2.2 Research Data
           2.2.1 Secondary Data
                    2.2.1.1 Key Data From Secondary Sources
           2.2.2 Primary Data
                    2.2.2.1 Key Data From Primary Sources
                    2.2.2.2 Key Industry Insights
    2.3 Market Size Estimation
           2.3.1 Bottom-Up Approach
           2.3.2 Top-Down Approach
    2.4 Market Breakdown and Data Triangulation
    2.5 Research Assumptions

3 Executive Summary (Page No. - 26)

4 Premium Insights (Page No. - 30)
    4.1 Attractive Market Opportunities in the Thermal Imaging Market
    4.2 Market, By Component
    4.3 Market, By End-User
    4.4 Global Market, By Application and By Region, 2016
    4.5 Lifecycle Analysis, By Region

5 Market Overview (Page No. - 34)
    5.1 Introduction
    5.2 Evolution
    5.3 Market Segmentation
           5.3.1 By Component
           5.3.2 By Application
           5.3.3 By End-User
           5.3.4 By Region
    5.4 Market Dynamics
           5.4.1 Drivers
                    5.4.1.1 Increasing Demand for Thermal Cameras in Smartphones
                    5.4.1.2 Declining Prices of Thermal Cameras
                    5.4.1.3 Rising Demand for Thermal Imaging Cameras in All Commercial Applications
           5.4.2 Restraints
                    5.4.2.1 Decline in Defense Budget
                    5.4.2.1 Availability of Alternative Technologies
           5.4.3 Opportunities
                    5.4.3.1 Emergence of Integrated Solutions
                    5.4.3.2 Rising Demand for Thermal Imaging Services
           5.4.4 Challenges
                    5.4.4.1 Designing Highly Accurate Cameras

6 Industry Trends (Page No. - 42)
    6.1 Introduction
    6.2 Value Chain Analysis
    6.3 Strategic Benchmarking

7 Thermal Imaging Market Analysis, By Component (Page No. - 44)
    7.1 Introduction
    7.2 Hardware
    7.3 Software
    7.4 Services

8 Thermal Imaging Market Analysis, By Application (Page No. - 48)
    8.1 Introduction
    8.2 Surveillance
           8.2.1 Airborne Systems
           8.2.2 Maritime Systems
           8.2.3 Land Systems
    8.3 Threat Detection
    8.4 Surveys
    8.5 Predictive Maintenance
    8.6 Radiology
    8.7 Intelligent Transportation Systems
    8.8 Commercial and Residential Security
    8.9 Personal Vision
    8.10 Firefighting
    8.11 Research and Development
    8.12 Automotive
    8.13 Veterinary
    8.14 Others

9 Thermal Imaging Market Analysis, By End-User (Page No. - 62)
    9.1 Introduction
    9.2 Military and Defence
    9.3 Industrial, Commercial, and Residential

10 Geographic Analysis (Page No. - 67)
     10.1 Introduction
     10.2 North America
     10.3 Europe
     10.4 Asia-Pacific
     10.5 Middle East and Africa
     10.6 Latin America

11 Competitive Landscape (Page No. - 87)
     11.1 Overview
     11.2 Competitive Situation and Trends
             11.2.1 New Product Launches
             11.2.2 Partnerships, Agreements, Contracts, and Collaborations
             11.2.3 Acquisitions
             11.2.4 Expansions

12 Company Profiles (Page No. - 94)
(Overview, Products & Services, Strategies & Insights, Developments and MnM View)*
     12.1 Introduction
     12.2 Flir Systems, Inc.
     12.3 Fluke Corporation (Fortive Corporation)
     12.4 BAE Systems
     12.5 L-3 Communications Holdings, Inc.
     12.6 DRS Technologies, Inc.
     12.7 AXIS Communications
     12.8 Honeywell International, Inc.
     12.9 Raytheon Company
     12.10 Thermoteknix Systems Ltd.
     12.11 Testo AG

*Details on Overview, Products & Services, Strategies & Insights, Developments and MnM View Might Not Be Captured in Case of Unlisted Companies.

13 Key Innovators (Page No. - 123)
     13.1 Ici Infrared Cameras, Inc.
             13.1.1 Business Overview
     13.2 Lockheed Martin Corporation
             13.2.1 Business Overview
     13.3 Nippon Avionics Co. Ltd.
             13.3.1 Business Overview
     13.4 Sofradir Group
             13.4.1 Business Overview

14 Appendix (Page No. - 127)
     14.1 Key Industry Insights
     14.2 Other Key Developments
             14.2.1 New Product Launches, 2013–2016
             14.2.2 Partnerships, Agreements, Contracts, and Collaborations, 2013–2016
     14.3 Discussion Guide
     14.4 Knowledge Store: Marketsandmarkets’ Subscription Portal
     14.5 Introducing RT: Real-Time Market Intelligence
     14.6 Available Customizations
     14.7 Related Reports


List of Tables (65 Tables)

Table 1 Thermal Imaging Market Size and Growth, 2014–2021 (USD Billion)
Table 2 Thermal Imaging Camera Shipments, 2014–2021 (Thousand Units)
Table 3 Market Size, By Component, 2014–2021 (USD Million)
Table 4 Hardware: Market Size, By Region, 2014–2021 (USD Million)
Table 5 Software: Market Size, By Region, 2014–2021 (USD Million)
Table 6 Services: Market Size, By Region, 2014–2021 (USD Million)
Table 7 Thermal Imaging Market Size, By Application, 2014–2021 (USD Million)
Table 8 Surveillance: Market Size, By Type, 2014–2021 (USD Million)
Table 9 Surveillance: Market Size, By Region, 2014–2021 (USD Million)
Table 10 Airborne Systems: Market Size, By Region, 2014–2021 (USD Million)
Table 11 Maritime Systems: Market Size, By Region, 2014–2021 (USD Million)
Table 12 Land Systems: Market Size, By Region, 2014–2021 (USD Million)
Table 13 Threat Detection: Market Size, By Region, 2014–2021 (USD Million)
Table 14 Surveys: Thermal Imaging Market Size, By Region, 2014–2021 (USD Million)
Table 15 Predictive Maintenance: Market Size, By Region, 2014–2021 (USD Million)
Table 16 Radiology: Market Size, By Region, 2014–2021 (USD Million)
Table 17 Intelligent Transportation Systems: Market Size, By Region, 2014–2021 (USD Million)
Table 18 Commercial and Residential Security: Market Size, By Region, 2014–2021 (USD Million)
Table 19 Personal Vision: Market Size, By Region, 2014–2021 (USD Million)
Table 20 Firefighting: Thermal Imaging Market Size, By Region, 2014–2021 (USD Million)
Table 21 Research and Development: Market Size, By Region, 2014–2021 (USD Million)
Table 22 Automotive: Market Size, By Region, 2014–2021 (USD Million)
Table 23 Veterinary: Market Size, By Region, 2014–2021 (USD Million)
Table 24 Others: Market Size, By Region, 2014–2021 (USD Million)
Table 25 Market Size, By End-User, 2014–2021 (Thousand Units)
Table 26 Market Size, By End-User, 2014–2021 (USD Million)
Table 27 Military and Defense: Market Size, By Region, 2014–2021 (Thousand Units)
Table 28 Military and Defense: Thermal Imaging Market Size, By Region, 2014–2021 (USD Million)
Table 29 Industrial, Commercial, and Residential: Market Size, By Region, 2014–2021 (Thousand Units)
Table 30 Industrial, Commercial, and Residential: Market Size, By Region, 2014–2021 (USD Million)
Table 31 Market Size, By Region, 2014–2021 (USD Million)
Table 32 North America: Thermal Imaging Market Size, By Component, 2014–2021 (USD Million)
Table 33 North America: Market Size, By End-User, 2014–2021 (Thousand Units)
Table 34 North America: Market Size, By End-User, 2014–2021 (USD Millions)
Table 35 North America: Market Size, By Application, 2014–2021 (USD Million)
Table 36 North America: Market Size, By Surveillance System, 2014–2021(USD Million)
Table 37 North America: Market Size, By Country, 2014–2021(USD Million)
Table 38 Europe: Thermal Imaging Market Size, By Component, 2014–2021 (USD Million)
Table 39 Europe: Market Size, By End-User, 2014–2021 (Thousand Units)
Table 40 Europe: Market Size, By End-User, 2014–2021 (USD Millions)
Table 41 Europe: Market Size, By Application, 2014–2021 (USD Million)
Table 42 Europe: Market Size, By Surveillance System, 2014–2021(USD Million)
Table 43 Europe: Market Size, By Country, 2014–2021(USD Million)
Table 44 Asia-Pacific: Thermal Imaging Market Size, By Component, 2014–2021 (USD Million)
Table 45 Asia-Pacific: Market Size, By End-User, 2014–2021 (Thousand Units)
Table 46 Asia-Pacific: Market Size, By End-User, 2014–2021 (USD Millions)
Table 47 Asia-Pacific: Market Size, By Application, 2014–2021 (USD Million)
Table 48 Asia-Pacific: Market Size, By Surveillance System, 2014–2021(USD Million)
Table 49 Asia-Pacific: Market Size, By Country, 2014–2021(USD Million)
Table 50 Middle East and Africa: Thermal Imaging Market Size, By Component, 2014–2021 (USD Million)
Table 51 Middle East and Africa: Market Size, By End-User, 2014–2021 (Thousand Units)
Table 52 Middle East and Africa: Market Size, By End-User, 2014–2021 (USD Millions)
Table 53 Middle East and Africa: Market Size, By Application, 2014–2021 (USD Million)
Table 54 Middle East and Africa: Market Size, By Surveillance System, 2014–2021(USD Million)
Table 55 Middle East and Africa: Thermal Imaging Market Size, By Country, 2014–2021(USD Million)
Table 56 Latin America: Thermal Imaging Market Size, By Component, 2014–2021 (USD Million)
Table 57 Latin America: Market Size, By End-User, 2014–2021 (Thousand Units)
Table 58 Latin America: Market Size, By End-User, 2014–2021 (USD Millions)
Table 59 Latin America: Market Size, By Application, 2014–2021 (USD Million)
Table 60 Latin America: Market Size, By Surveillance System, 2014–2021(USD Million)
Table 61 Latin America: Market Size, By Country, 2014–2021(USD Million)
Table 62 New Product Launches, 2013–2016
Table 63 Partnerships, Agreements, Contracts, and Collaborations, 2013–2016
Table 64 Acquisitions, 2013–2016
Table 65 Expansions, 2014–2016


List of Figures (45 Figures)

Figure 1 Global Thermal Imaging Market: Research Design
Figure 2 Breakdown of Primaries: By Company Type, Designation, and Region
Figure 3 Market Size Estimation Methodology: Bottom-Up Approach
Figure 4 Market Size Estimation Methodology: Top-Down Approach
Figure 5 Market Breakdown and Data Triangulation
Figure 6 Assumptions
Figure 7 Services Segment is Expected to Grow at the Highest Rate in the Component Market of Thermal Imaging During the Forecast Period
Figure 8 The Adoption of Thermal Imaging is Expected to Grow at the Highest Rate in the Automotive Sector
Figure 9 Industrial, Commercial, and Residential Sector is Expected to Grow at A Higher CAGR During the Forecast Period
Figure 10 North America is Expected to Lead the Thermal Imaging Market in 2016
Figure 11 Services Segment is Expected to Gain Traction During the Forecast Period
Figure 12 Hardware Contributes the Largest Market Size Among the Component
Figure 13 Industrial, Commercial, and Residential Segment is Expected to Witness A Higher Growth Rate During the Forecast Period
Figure 14 Surveillance By Application and North America By Region are Expected to Account for the Largest Share.
Figure 15 Thermal Imaging Regional Lifecycle: Asia-Pacific Exhibits Potential Growth During the Forecast Period
Figure 16 Thermal Imaging Market: Evolution
Figure 17 Market Segmentation: By Component
Figure 18 Market Segmentation: By Application
Figure 19 Market Segmentation: By End-User
Figure 20 Market Segmentation: By Region
Figure 21 Market : Market Dynamics
Figure 22 Thermal Imaging Market: Value Chain
Figure 23 Strategic Benchmarking
Figure 24 Hardware Segment is Expected to Dominate the Market Throughout the Forecast Period
Figure 25 Automotive Sector is Increasingly Adopting Thermal Imaging Solutions
Figure 26 Industrial,Commercial, and Residential Segment is Expected to Gain the Higher Traction During the Forecast Period
Figure 27 Regional Snapshot: Asia-Pacific is Emerging as A New Hotspot
Figure 28 North America is Expected to Exhibit the Highest Growth Rate Due to the Huge Investments By the Market Players in the Region
Figure 29 North America: Market Snapshot
Figure 30 Asia-Pacific: Market Snapshot
Figure 31 Companies Adopted New Product Launches and Partnerships as Key Growth Strategies During 2013–2016
Figure 32 Market Evalution Framework
Figure 33 Battle for Market Share: New Product Launch is the Key Strategy
Figure 34 Geographic Revenue Mix of Top Market Players
Figure 35 Flir Systems, Inc. : Company Snapshot
Figure 36 Flir Systems, Inc.: SWOT Analysis
Figure 37 Fluke Corporation (Fortive Corporation): SWOT Analysis
Figure 38 BAE Systems: Company Snapshot
Figure 39 BAE Systems: SWOT Analysis
Figure 40 L-3 Communications Holdings, Inc.: Company Snapshot
Figure 41 L-3 Communications Holdings, Inc.: SWOT Analysis
Figure 42 DRS Technologies, Inc.: SWOT Analysis
Figure 43 AXIS Communications: Company Snapshot
Figure 44 Honeywell International, Inc.: Company Snapshot
Figure 45 Raytheon Company: Company Snapshot

MarketsandMarkets forecasts the thermal imaging market to grow from USD 7.71 Billion in 2016 to USD 10.27 Billion by 2021, at a Compound Annual Growth Rate (CAGR) of 5.9%. In the last 5 years, thermal imaging solutions have significantly evolved due to their increased adoption in the commercial sector for providing improved visibility during difficult conditions such as night, smoke, and fog. The market is driven by factors such as surging demand for thermal cameras in smartphones and their declining prices.

The scope of this report covers the thermal imaging market by component, application, end user, and region. The hardware segment is expected to have the largest market share and dominate the  market from 2016 to 2021. This is because the hardware segment consists of various devices such as cameras, sensors, lenses, and detectors which are being increasingly deployed in various industries for surveillance, threat detection, firefighting, personal vision, research and development, and many other such applications. The services segment is expected to play a key role in changing the thermal imaging landscape and is expected to grow at the highest CAGR during the forecast period.

Thermal imaging is a boon to the military & defense sector due to its day–night working capability and good performance in all weather conditions. Therefore, the military and defense end-user segment is expected to dominate the thermal imaging market and is expected to contribute to the largest market share, whereas the industrial, commercial, and residential end-user segment is expected to grow at the highest rate during the forecast period.

The thermal imaging products and services are being increasingly adopted in various application areas, such as automotive, veterinary, threat detection, and commercial & residential security, which has led to the growth of the market across the globe. In the automotive application, thermal cameras are used for enhancing night vision which reduces the risks of driving at night or in smoke/fog conditions due to which this segment is estimated to grow at the highest CAGR during the forecast period. Thermal cameras are used for detecting places, people, or both and for collecting more useful information from the captured video data and are primarily deployed by military and defense for border patrolling and border security. This has led the surveillance application segment to dominate the thermal imaging market with the highest market share in 2016.

Thermal Imaging Market

North America is expected to have the largest market share and the highest CAGR in the thermal imaging market from 2016 to 2021, due to the presence of a large number of product and service providers in the U.S. and stern non-compliance measures adopted by the government and various regulatory bodies in this region. APAC offers potential growth opportunities due to increasing technological penetration and high defense spending.

However, the availability of alternate technologies for thermal imaging is acting as a restraining factor for the market growth. Though thermal imaging products have evolved in the recent years, designing highly accurate cameras have always been a major challenge for this market. The major vendors in the thermal imaging market include FLIR Systems, Inc. (Wilsonville, Oregon, U.S.), Fluke Corporation (Washington, U.S.), Bae Systems (London, U.K.), L-3 Communications Holdings, Inc. (New York, U.S.), DRS Technologies, Inc. (Arlington, Virginia, U.S.), Axis Communications (Lund, Sweden), Honeywell International, Inc.(New Jersey, U.S.), Raytheon Company (Waltham, Massachusetts, U.S.), Thermoteknix Systems Ltd. (Cambridge, U.K.), and Testo AG (Lenzkirch, Germany). These players adopted various strategies such as new product launches, partnerships, agreements, collaborations, mergers & acquisitions, and business expansions to cater to the needs of the market. The report also includes key innovators in the market, such as ICI Infrared Cameras, Inc. (Texas, U.S.), Lockheed Martin (Maryland, U.S.), Nippon Avionics Co. Ltd. (Tokyo, Japan), and Sofradir Group (PALAISEAU, France).

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