Thermal Imaging Market

Thermal Imaging Market by Technology (Uncooled, Cooled), Wavelength (LWIR, SWIR), Product (Cameras, Modules), Application (Security & Surveillance, Monitoring & Inspection), Vertical (Aerospace & Defense, Healthcare), Region - Global Forecast to 2025

Report Code: SE 6267 Feb, 2020, by marketsandmarkets.com
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The global thermal imaging market is estimated to grow from USD 3.4 billion in 2020 to USD 4.6 billion by 2025; at a CAGR of 6.2%. The key factors fueling the growth of this market are the growing R&D investments by companies, governments, and capital firms to develop innovative thermal imaging solutions and increasing the adoption of thermal imaging in the automotive industry.

Thermal Imaging Market

Uncooled technology segment accounted for larger share of thermal imaging market in 2019

The uncooled technology segment accounted for a larger share of the thermal imaging market in 2019. The larger share is due to several advantages such as better penetration in weak environmental conditions such as dust, fog, and smoke and fewer mobile parts, providing long operating life with low maintenance.

Market for LWIR wavelength accounted for largest share of thermal imaging market in 2019

The market for LWIR wavelength accounted for the largest share of the thermal imaging market in 2019. The growth is attributed to increasing demand for thermal products operating in LWIR wavelengths in automotive, civil infrastructure, food & beverages, and medical for monitoring and inspection as well as detection and measurement applications.

Market for thermal cameras accounted for largest share of thermal imaging market in 2019

In 2019, the thermal cameras segment held the largest share of the thermal imaging market. The growth of this market is attributed to the increasing adoption of thermal cameras in residential and commercial sectors. In the residential and commercial sectors, thermal imagers are used to offer details for leakage (water or air), home insulation, cracks, and locate insufficient insulation. Also, thermal cameras are capable of operating in the day, night, fog, and cluttered environment.

Market for monitoring and detection expected to grow at highest CAGR during forecast period

The market for monitoring and detection application is expected to grow at the highest CAGR during the forecast period. The growth is attributed to the increasing adoption of thermal cameras in commercial, residential, and industrial sectors. Thermal cameras are used as a maintenance tool for monitoring and inspection application in various buildings, historical monuments, and industrial equipment. Furthermore, thermal cameras are majorly in demand from these sectors to monitor the structural health of buildings and equipment.

Aerospace & defense sector dominated thermal imaging market in 2019

In 2019, the aerospace & defense vertical dominated the thermal imaging market. The dominance is due to the capability of thermal imaging products such as thermal cameras, scopes, and modules to work in all weather conditions irrespective of the time. Also, they are used for border surveillance, law enforcement, in ship collision avoidance and guidance systems, and structural health monitoring of aircraft. Moreover, they help soldiers in identifying, locating, and targeting the enemy forces.

Thermal Imaging Market

North America held major share of thermal imaging market in 2019

The thermal cameras are used by maintenance operators for monitoring and inspection of commercial and residential buildings. North America is home to numerous historical monuments, commercial as well as residential buildings, and different process and manufacturing industries. Owing to this, North America held the major share of the market in 2019.

Key Market Players

FLIR Systems, Inc. (Oregon, US), Fluke Corporation (Washington, US), Leonardo S.p.A. (Rome, Italy), L3HARRIS TECHNOLOGIES, INC. (Florida, US), and United Technologies (Connecticut, US) are a few major companies operating in the market. These companies have adopted both organic and inorganic growth strategies such as product launches and developments, partnerships, agreements, contracts, and mergers & acquisitions to strengthen their position in the market.

Scope of the Report:

Report Metrics

Details

Market size available for years

2017–2025

Base year

2019

Forecast period

2020–2025

Forecast unit

Value (USD million/billion)

Segments covered

Technology, wavelengths, product type, application, vertical, and region

Geographic regions covered

North America, APAC, Europe, and RoW

Companies covered

FLIR Systems, Inc. (Oregon, US), Fluke Corporation (Washington, US), Leonardo S.p.A. (Rome, Italy), L3HARRIS TECHNOLOGIES, INC. (Florida, US), United Technologies (Connecticut, US), Axis Communications AB (Lund, Sweden), BAE Systems (UK), Opgal (Israel), Testo SE & Co. KGaA (Lenzkirch, Germany), Xenics (Belgium), Thermoteknix Systems Ltd. (UK), ZHEJIANG DALI TECHNOLOGY CO., LTD. (Hangzhou, Zhejiang), HGH Infrared Systems (France), Lynred (France), Zhejiang ULIRVISION Technology Co., Ltd. (Zhejiang, China), Tonbo Imaging (Florida, US), Seek Thermal (California, US), Cox (Seoul, Korea), CALUMINO (Australia), TERABEE (France), and C-THERMAL (Austria).

This report categorizes the thermal imaging market based on technology, wavelengths, product type, application, vertical, and region.

Thermal Imaging Market, By Technology:

  • Cooled
  • Uncooled

Thermal Imaging Market, By Wavelength:

  • Short-wave Infrared (SWIR)
  • Mid-Wave Infrared (MWIR)
  • Long-Wave Infrared (LWIR)

Thermal Imaging Market, By Product Type:

  • Thermal Cameras
  • Thermal Scopes
  • Thermal Modules

Thermal Imaging Market, By Application

  • Security and Surveillance
    • Perimeter Security
    • Unmanned Aerial Vehicle (UAV)
    • Tracking
  • Monitoring and Inspection
    • Machine Condition Monitoring
    • Structural Health Monitoring
    • Quality Assessment
    • HVAC System Inspection
  • Detection and Measurement
    • Gas Detection
    • Fire/Flare Detection
    • Body Temperature Measurement
    • Level Measurement
    • Prototype Assessment

Thermal Imaging Market, By Vertical:

  • Industrial
  • Commercial
  • Residential
  • Aerospace & Defense
  • Automotive
  • Healthcare & Life Sciences
  • Oil & Gas
  • Food & Beverages

Thermal Imaging Market, By Geography:

  • North America
    • US
    • Canada
    • Mexico
  • Europe
    • UK
    • Germany
    • France
    • Rest of Europe
  • APAC
    • China
    • Japan
    • India
    • Rest of APAC
  • RoW
    • Middle East & Africa
    • South America

Major Market Developments

  1. In December 2019, FLIR Systems, Inc. launched 3 new pan-tilt-zoom (PTZ) security cameras, namely, FLIR Elara DX-Series, FLIR Saros DM-Series, and e FLIR Quasar 4K IR PTZ. The cameras provide long- and short-range perimeter protection in all conditions. Owing to this, the company expanded its security camera product offerings.
  2. In December 2019, Fluke Corporation launched Fluke TiS60+, a thermal imaging camera for inspection and analysis applications. The product is suited for commercial, HVAC (Heating, ventilation, air conditioning, and refrigeration), and maintenance technicians.
  3. In October 2019, Leonardo DRS received a contract from the US army to supply advanced thermal imagery technology (TS III) for the army’s remote combat vehicle weapon stations.
  4. In March 2019, FLIR Systems, Inc. expanded its presence in Washington, D.C., with new space built specially to showcase FLIR technology that helps save lives and livelihoods.
  5. In June 2019, Harris Corporation (Florida, US) and L3 Technologies (New York) merged to form a new military technology company—L3HARRIS TECHNOLOGIES, INC. This merger is one of the largest mergers in the defense industry. The merger was done to cater to different industries, dominate the market, and increase the global customer base.

Key Questions Addressed by the Report

  1. Where will all these developments take the industry in the mid-to-long term?
  2. What are the upcoming trends in the thermal imaging market?
  3. What are the opportunities for the existing players, and for those who are planning to enter various stages of the thermal imaging value chain?
  4. How the adoption of inorganic growth strategies, such as acquisitions and partnerships, will have a positive impact on the growth of the market? Which players are likely to adopt these strategies in the near future to create a position or increase share in this market?
  5. What are the emerging applications of thermal imaging products?

To speak to our analyst for a discussion on the above findings, click Speak to Analyst

Table of Contents

1 Introduction (Page No. - 19)
    1.1 Study Objectives
    1.2 Market Definition
           1.2.1 Inclusions and Exclusions
    1.3 Scope
           1.3.1 Markets Covered
           1.3.2 Years Considered
    1.4 Currency
    1.5 Limitations
    1.6 Market Stakeholders

2 Research Methodology (Page No. - 23)
    2.1 Research Data
           2.1.1 Secondary Data
                    2.1.1.1 Secondary Sources
           2.1.2 Primary Data
                    2.1.2.1 Primary Sources
                    2.1.2.2 Key Industry Insights
                    2.1.2.3 Breakdown of Primaries
    2.2 Market Size Estimation
           2.2.1 Bottom-Up Approach
                    2.2.1.1 Approach for Capturing Market Size By Bottom-Up Analysis (Demand Side)
           2.2.2 Top-Down Approach
                    2.2.2.1 Approach for Capturing Market Share By Top-Down Analysis (Supply Side)
    2.3 Market Breakdown and Data Triangulation
    2.4 Research Assumptions

3 Executive Summary (Page No. - 34)

4 Premium Insights (Page No. - 39)
    4.1 Attractive Growth Opportunities in Thermal Imaging Market
    4.2 Market, By Product Type and Application
    4.3 Market, By Country
    4.4 Market, By Region

5 Market Overview (Page No. - 41)
    5.1 Introduction
    5.2 Market Dynamics
           5.2.1 Drivers
                    5.2.1.1 Increasing Government Expenditure on Aerospace & Defense Sector is Boosting Growth of Market
                    5.2.1.2 Increasing Adoption of Thermal Imaging in Automotive Industry
                    5.2.1.3 Growing R&D Investments By Companies, Governments, and Capital Firms to Develop Innovative Thermal Imaging Solutions
           5.2.2 Restraints
                    5.2.2.1 Export Restriction Imposed on Thermal Imaging Products
           5.2.3 Opportunities
                    5.2.3.1 Increase in Adoption of Thermography for Infancy Stage Diagnosis in Healthcare Applications
                    5.2.3.2 Thermal Imaging use to Diagnose Defects in Building Structure Fueling Growth
           5.2.4 Challenges
                    5.2.4.1 Thermal Cameras Do Not Work Through Glass and Water
                    5.2.4.2 Thermal Imaging Does Not Work for See-Through Wall Applications
    5.3 Value Chain Analysis

6 Thermal Imaging Market, By Technology (Page No. - 51)
    6.1 Introduction
    6.2 Cooled
           6.2.1 Highly Sensitive Cooled Thermal Cameras are Used to Monitor Minute Temperature Difference (<20 MK)
    6.3 Uncooled
           6.3.1 Uncooled Thermal Cameras Suitable for Low-Cost and High-Volume Applications

7 Thermal Imaging Market, By Wavelength (Page No. - 55)
    7.1 Introduction
    7.2 Short-Wave Infrared (SWIR)
           7.2.1 SWIR Thermal Imaging Product are Capable to Produce Detailed Image With High-Resolution
    7.3 Mid-Wave Infrared (MWIR)
           7.3.1 MWIR Thermal Imaging Products are Used to Provide High Contrast Thermal Images
    7.4 Long-Wave Infrared (LWIR)
           7.4.1 LWIR Thermal Imaging Products are Used to Monitor Human Activities and Vehicles

8 Thermal Imaging Market, By Product Type (Page No. - 59)
    8.1 Introduction
    8.2 Thermal Cameras
           8.2.1 Increase in Adoption of Thermal Cameras in Applications Spur Growth of Market
    8.3 Thermal Scopes
           8.3.1 High Adoption of Thermal Scopes in Aerospace & Defense Vertical Accelerates Market Growth
    8.4 Thermal Modules
           8.4.1 Increasing Demand for Thermal Modules is Expected to Boost Growth of Market

9 Thermal Imaging Market, By Application (Page No. - 63)
    9.1 Introduction
    9.2 Security and Surveillance
           9.2.1 Perimeter Security
                    9.2.1.1 Rising Deployment of Thermal Cameras in Perimeter Security is Fueling Market
           9.2.2 Unmanned Aerial Vehicle (UAV)
                    9.2.2.1 Advancement in Technology Will Increase Requirement for Advanced Thermal UAVs to Ensure Complete Protection
           9.2.3 Tracking
                    9.2.3.1 Panoramic Thermal Imaging System Enables Tracking in Wide Area Spurs Growth of Market
    9.3 Monitoring and Inspection
           9.3.1 Machine Condition Monitoring
                    9.3.1.1 Increasing Machine Safety Awareness Helps in Deployment of Thermal Camera is Propelling Market Growth
           9.3.2 Structural Health Monitoring
                    9.3.2.1 Rising Adoption of Thermal Cameras to Safeguard Building Structures is Driving Market
           9.3.3 Quality Assessment
                    9.3.3.1 Human Safety Increases Demand for Thermal Imaging Technology
           9.3.4 HVAC System Inspection
                    9.3.4.1 Rise in Awareness of HVAC Systems Increases Deployment of Thermal Imagers in Turns Drives Market Growth
    9.4 Detection and Measurement
           9.4.1 Gas Detection
                    9.4.1.1 Strict Regulations Imposed on Oil & Gas Industries to Safeguard Environment Increases Adoption of Thermal Imaging Cameras
           9.4.2 Fire/Flare Detection
                    9.4.2.1 Deployment of Thermal Cameras to Reduce Human, Material, and Property Losses is Expected to Boost Market
           9.4.3 Body Temperature Measurement
                    9.4.3.1 Increase in use of Thermal Cameras for Detection of Animals and Humans Using Their Body Temperature is Propelling Market Growth
           9.4.4 Level Measurement
                    9.4.4.1 Use of Thermal Imaging Cameras By Technician to Maintain ApproPRIAte Container or Tank Level is Expected to Boost Market Growth
           9.4.5 Prototype Assessment
                    9.4.5.1 Adoption of Thermal Imagers for Prototype Assessment Saves Time and Money Increasing Their Demand

10 Thermal Imaging Market, By Vertical (Page No. - 99)
     10.1 Introduction
     10.2 Industrial
             10.2.1 Rise in Deployment of Thermal Cameras in Industrial Segment to Safeguard Industrial Assets and Human Lives
     10.3 Commercial
             10.3.1 Growing Demand for Thermal Cameras in Commercial Segment is Supporting Market Growth
     10.4 Residential
             10.4.1 Increasing Adoption of Thermal Camera to Ensure Building Safety and Increase Efficiency is Expected to Spur Market
     10.5 Aerospace & Defense
             10.5.1 Rising Adoption of Advanced Thermal Imaging Solutions Across Aerospace & Defense Industry is Fueling Market Growth
     10.6 Automotive
             10.6.1 Evolution of Advanced Thermal Imaging Solutions for Automotives Expected to Spur Market
     10.7 Healthcare & Life Sciences
             10.7.1 Simple, Non-Invasive, and Less Expensive Thermal Imaging Technique Increases Demand for Thermal Camera in Healthcare & Life Science
     10.8 Oil & Gas
             10.8.1 Increasing Importance of Predictive Maintenance is Expected to Fuel Market
     10.9 Food & Beverages
             10.9.1 Growing Need to Precise Temperature Monitoring of Food Processing Made Thermal Imaging Quality Control Method Prefered By Several Manufacturers

11 Geographic Analysis (Page No. - 114)
     11.1 Introduction
     11.2 North America
             11.2.1 US
                       11.2.1.1 Presence of Thermal Imaging Manufacturing Companies to Boost Market Growth in US
             11.2.2 Canada
                       11.2.2.1 Investment in R&D of Thermal Imaging By Government and Non-Government to Spur Growth of Market in Canada
             11.2.3 Mexico
                       11.2.3.1 Wide Distribution Network in Mexico to Propel Market Growth
     11.3 Europe
             11.3.1 UK
                       11.3.1.1 Increasing use of Thermal Cameras for Monitoring and Inspecting Building Structures in Residential and Commercial Sector
             11.3.2 Germany
                       11.3.2.1 Market for Thermal Imaging in Germany to Grow at Highest CAGR During Forecast Period
             11.3.3 France
                       11.3.3.1 Presence of Automobile Manufacturers in France to Spur Growth of Market
             11.3.4 Rest of Europe
                       11.3.4.1 Emerging Economy, Increasing Infrastructure Facilities, and Funding Contributes to Growth of Market in RoE
     11.4 APAC
             11.4.1 China
                       11.4.1.1 Mass Production of Thermal Imaging Products Would Lead China to Grow at Highest CAGR During Forecast Period
             11.4.2 Japan
                       11.4.2.1 Increase in use of Thermal Cameras in Healthcare Industry and Structural Health Monitoring Application Led to Increase in Demand for Thermal Imaging in Japan
             11.4.3 India
                       11.4.3.1 Ongoing Collaborations, Government Initiatives, and Foreign Direct Investments are Expected to Spur Market Growth
             11.4.4 Rest of APAC
                       11.4.4.1 Economic Growth and Favorable Market Conditions Fueling Growth of Market in Rest of APAC
     11.5 RoW
             11.5.1 Middle East & Africa
                       11.5.1.1 Ongoing Investments in Oil & Gas and Aerospace & Defense Industry Support Growth of Market
             11.5.2 South America
                       11.5.2.1 Increasing Demand for Monitoring and Inspection in Healthcare and Life Sciences, Industrial, and Aerospace & Defense Sectors Creates Growth Opportunity

12 Competitive Landscape (Page No. - 129)
     12.1 Introduction
     12.2 Market Ranking Analysis of Players in Thermal Imaging Market, 2019
     12.3 Competitive Scenario
             12.3.1 Product Launches and Developments
             12.3.2 Expansions
             12.3.3 Partnerships, Agreements, and Contracts
             12.3.4 Mergers & Acquisitions
     12.4 Competitive Leadership Mapping
             12.4.1 Visionary Leaders
             12.4.2 Innovators
             12.4.3 Dynamic Differentiators
             12.4.4 Emerging Companies

13 Company Profiles (Page No. - 137)
     13.1 Introduction
     13.2 Key Players
(Business Overview, Products Offered, Recent Developments, SWOT Analysis, and MnM View)*
             13.2.1 FLIR Systems, Inc.
             13.2.2 Fluke Corporation
             13.2.3 Leonardo S.p.A.
             13.2.4 L3HARRIS TECHNOLOGIES, INC.
             13.2.5 United Technologies
             13.2.6 Axis Communications AB
             13.2.7 BAE Systems
             13.2.8 Opgal
             13.2.9 Testo SE & Co. KGaA
             13.2.10 Xenics
* Business Overview, Products Offered, Recent Developments, SWOT Analysis, and MnM View Might Not be Captured in Case of Unlisted Companies.
     13.3 Right to Win
     13.4 Other Key Players
             13.4.1 Thermoteknix Systems Ltd.
             13.4.2 Zhejiang Dali Technology Co., Ltd
             13.4.3 Hgh Infrared Systems
             13.4.4 Lynred
             13.4.5 Zhejiang Ulirvision Technology Co., Ltd.
             13.4.6 Tonbo Imaging
             13.4.7 Seek Thermal
             13.4.8 COX
             13.4.9 Calumino
             13.4.10 Terabee
             13.4.11 C-Thermal

14 Appendix (Page No. - 181)
     14.1 Discussion Guide
     14.2 Knowledge Store: Marketsandmarkets’ Subscription Portal
     14.3 Available Customizations
     14.4 Related Reports
     14.5 Author Details


List of Tables (121 Tables)

Table 1 Thermal Imaging Market, By Technology, 2017–2025 (USD Million)
Table 2 Market, By Wavelength, 2017–2025 (USD Million)
Table 3 Market, By Product Type, 2017–2025 (USD Million)
Table 4 Market, By Application, 2017–2025 (USD Million)
Table 5 Market for Security and Surveillance, By Application Type, 2017–2025 (USD Million)
Table 6 Market for Security and Surveillance, By Vertical, 2017–2025 (USD Million)
Table 7 Market for Security and Surveillance, By Region, 2017–2025 (USD Million)
Table 8 Security and Surveillance Market for Perimeter Security, By Vertical, 2017–2025 (USD Million)
Table 9 Security and Surveillance Market for Perimeter Security, By Region, 2017–2025 (USD Million)
Table 10 Perimeter Security Market in North America, By Country, 2017–2025 (USD Million)
Table 11 Perimeter Security Market in Europe, By Country, 2017–2025 (USD Million)
Table 12 Perimeter Security Market in APAC, By Country, 2017–2025 (USD Million)
Table 13 Perimeter Security Market in RoW, By Region, 2017–2025 (USD Million)
Table 14 Security and Surveillance Market for UAV, By Vertical, 2017–2025 (USD Million)
Table 15 Security and Surveillance Market for UAV, By Region, 2017–2025 (USD Million)
Table 16 UAV Market in North America, By Country, 2017–2025 (USD Million)
Table 17 UAV Market in Europe, By Country, 2017–2025 (USD Million)
Table 18 UAV Market in APAC, By Country, 2017–2025 (USD Million)
Table 19 UAV Market in RoW, By Region, 2017–2025 (USD Million)
Table 20 Security and Surveillance for Tracking, By Vertical, 2017–2025 (USD Million)
Table 21 Security and Surveillance for Tracking, By Region, 2017–2025 (USD Million)
Table 22 Tracking Market in North America, By Country, 2017–2025 (USD Million)
Table 23 Tracking Market in Europe, By Country, 2017–2025 (USD Million)
Table 24 Tracking Market in APAC, By Country, 2017–2025 (USD Million)
Table 25 Tracking Market in RoW, By Region, 2017–2025 (USD Million)
Table 26 Market for Monitoring and Inspection, By Application Type, 2017–2025 (USD Million)
Table 27 Market for Monitoring and Inspection, By Vertical, 2017–2025 (USD Million)
Table 28 Market for Monitoring and Inspection, By Region, 2017–2025 (USD Million)
Table 29 Monitoring and Inspection for Machine Condition Monitoring, By Vertical, 2017–2025 (USD Million)
Table 30 Monitoring and Inspection for Machine Condition Monitoring, By Region, 2017–2025 (USD Million)
Table 31 Machine Condition Monitoring Type Market in North America, By Country, 2017–2025 (USD Million)
Table 32 Machine Condition Monitoring Type Market in Europe, By Country, 2017–2025 (USD Million)
Table 33 Machine Condition Monitoring Type Market in APAC, By Country, 2017–2025 (USD Million)
Table 34 Machine Condition Monitoring Type Market in RoW, By Region, 2017–2025 (USD Million)
Table 35 Monitoring and Inspection for Structural Health Monitoring, By Vertical, 2017–2025 (USD Million)
Table 36 Monitoring and Inspection for Structural Health Monitoring, By Region, 2017–2025 (USD Million)
Table 37 Structural Health Monitoring Market in North America, By Country, 2017–2025 (USD Million)
Table 38 Structural Health Monitoring Market in Europe, By Country, 2017–2025 (USD Million)
Table 39 Structural Health Monitoring Market in APAC, By Country, 2017–2025 (USD Million)
Table 40 Structural Health Monitoring Market in RoW, By Region, 2017–2025 (USD Million)
Table 41 Monitoring and Inspection for Quality Assessment, By Vertical, 2017–2025 (USD Million)
Table 42 Monitoring and Inspection for Quality Assessment, By Region, 2017–2025 (USD Million)
Table 43 Quality Assessment Market in North America, By Country, 2017–2025 (USD Million)
Table 44 Quality Assessment Market in Europe, By Country, 2017–2025 (USD Million)
Table 45 Quality Assessment Market in APAC, By Country, 2017–2025 (USD Million)
Table 46 Quality Assessment Market in RoW, By Region, 2017–2025 (USD Million)
Table 47 Monitoring and Inspection for HVAC System Inspection, By Vertical, 2017–2025 (USD Million)
Table 48 Monitoring and Inspection for HVAC System Inspection, By Region, 2017–2025 (USD Million)
Table 49 HVAC System Inspection Market in North America, By Country, 2017–2025 (USD Million)
Table 50 HVAC System Inspection Market in Europe, By Country, 2017–2025 (USD Million)
Table 51 HVAC System Inspection Type Market in APAC, By Country, 2017–2025 (USD Million)
Table 52 HVAC System Inspection Type Market in RoW, By Region, 2017–2025 (USD Million)
Table 53 Market for Detection and Measurement, By Application Type, 2017–2025 (USD Million)
Table 54 Market for Detection and Measurement, By Vertical, 2017–2025 (USD Million)
Table 55 Thermal Imaging Market for Detection and Measurement, By Region, 2017–2025 (USD Million)
Table 56 Detection and Measurement for Gas Detection, By Vertical, 2017–2025 (USD Million)
Table 57 Detection and Measurement for Gas Detection, By Region, 2017–2025 (USD Million)
Table 58 Gas Detection Market in North America, By Country, 2017–2025 (USD Million)
Table 59 Gas Detection Market in Europe, By Country, 2017–2025 (USD Million)
Table 60 Gas Detection Market in APAC, By Country, 2017–2025 (USD Million)
Table 61 Gas Detection Market in RoW, By Region, 2017–2025 (USD Million)
Table 62 Detection and Measurement for Fire/Flare Detection, By Vertical, 2017–2025 (USD Million)
Table 63 Detection and Measurement for Fire/Flare Detection, By Region, 2017–2025 (USD Million)
Table 64 Fire/Flare Detection Market in North America, By Country, 2017–2025 (USD Million)
Table 65 Fire/Flare Detection Market in Europe, By Country, 2017–2025 (USD Million)
Table 66 Fire/Flare Detection Market in APAC, By Country, 2017–2025 (USD Million)
Table 67 Fire/Flare Detection Market in RoW, By Region, 2017–2025 (USD Million)
Table 68 Detection and Measurement for Body Temperature Measurement, By Vertical, 2017–2025 (USD Million)
Table 69 Detection and Measurement for Body Temperature Measurement, By Region, 2017–2025 (USD Million)
Table 70 Body Temperature Measurement Market in North America, By Country, 2017–2025 (USD Million)
Table 71 Body Temperature Measurement Market in Europe, By Country, 2017–2025 (USD Million)
Table 72 Body Temperature Measurement Market in APAC, By Country, 2017–2025 (USD Million)
Table 73 Body Temperature Measurement Market in RoW, By Region, 2017–2025 (USD Million)
Table 74 Detection and Measurement for Level Measurement, By Vertical, 2017–2025 (USD Million)
Table 75 Detection and Measurement for Level Measurement, By Region, 2017–2025 (USD Million)
Table 76 Level Measurement Market in North America, By Country, 2017–2025 (USD Million)
Table 77 Level Measurement Market in Europe, By Country, 2017–2025 (USD Million)
Table 78 Level Measurement Market in APAC, By Country, 2017–2025 (USD Million)
Table 79 Level Measurement Market in RoW, By Region, 2017–2025 (USD Million)
Table 80 Detection and Measurement for Prototype Assessment, By Vertical, 2017–2025 (USD Million)
Table 81 Detection and Measurement for Prototype Assessment, By Region, 2017–2025 (USD Million)
Table 82 Prototype Assessment Market in North America, By Country, 2017–2025 (USD Million)
Table 83 Prototype Assessment Market in Europe, By Country, 2017–2025 (USD Million)
Table 84 Prototype Assessment Market in APAC, By Country, 2017–2025 (USD Million)
Table 85 Prototype Assessment Market in RoW, By Region, 2017–2025 (USD Million)
Table 86 Thermal Imaging Market, By Vertical, 2017–2025 (USD Million)
Table 87 Market for Industrial, By Application, 2017–2025 (USD Million)
Table 88 Industrial Market for Security and Surveillance, By Application Type, 2017–2025 (USD Million)
Table 89 Industrial Market for Monitoring and Inspection, By Application Type, 2017–2025 (USD Million)
Table 90 Industrial Market for Detection and Measurement, By Application Type, 2017–2025 (USD Million)
Table 91 Market for Commercial, By Application, 2017–2025 (USD Million)
Table 92 Commercial Market for Security and Surveillance, By Application Type, 2017–2025 (USD Million)
Table 93 Commercial Market for Monitoring and Inspection, By Application Type, 2017–2025 (USD Million)
Table 94 Commercial Market for Detection and Measurement, By Application Type, 2017–2025 (USD Million)
Table 95 Market for Residential, By Application, 2017–2025 (USD Million)
Table 96 Residential Market for Monitoring and Inspection, By Application Type, 2017–2025 (USD Million)
Table 97 Market for Aerospace & Defense, By Application, 2017–2025 (USD Million)
Table 98 Aerospace & Defense Market for Security and Surveillance, By Application Type, 2017–2025 (USD Million)
Table 99 Aerospace & Defense Market for Monitoring and Inspection, By Application Type, 2017–2025 (USD Million)
Table 100 Aerospace & Defense Market for Detection and Measurement, By Application Type, 2017–2025 (USD Million)
Table 101 Thermal Imaging Market for Automotive, By Application, 2017–2025 (USD Million)
Table 102 Market for Healthcare & Life Sciences, By Application, 2017–2025 (USD Million)
Table 103 Healthcare & Life Sciences Market for Detection and Measurement, By Application Type, 2017–2025 (USD Million)
Table 104 Market for Oil & Gas, By Application, 2017–2025 (USD Million)
Table 105 Oil & Gas Market for Detection and Measurement, By Application Type, 2017–2025 (USD Million)
Table 106 Market for Food & Beverages, By Application, 2017–2025 (USD Million)
Table 107 Food & Beverages Market for Monitoring and Inspection, By Application Type, 2017–2025 (USD Million)
Table 108 Food & Beverages Market for Detection and Measurement, By Application Type, 2017–2025 (USD Million)
Table 109 Market, By Region, 2017–2025 (USD Million)
Table 110 Market in North America, By Application, 2017–2025 (USD Million)
Table 111 Market in North America, By Country, 2017–2025 (USD Million)
Table 112 Market in Europe, By Application, 2017–2025 (USD Million)
Table 113 Market in Europe, By Country, 2017–2025 (USD Million)
Table 114 Market in APAC, By Application, 2017–2025 (USD Million)
Table 115 Market in APAC, By Country, 2017–2025 (USD Million)
Table 116 Market in RoW, By Application,2017–2025 (USD Million)
Table 117 Thermal Imaging Market in RoW, By Region, 2017–2025 (USD Million)
Table 118 Product Launches and Developments, 2019
Table 119 Expansions, 2017–2019
Table 120 Partnerships, Agreement, and Contracts, 2018-2019
Table 121 Mergers & Acquisitions, 2018-2019
 
 
List of Figures (54 Figures)
 
Figure 1 Thermal Imaging Market: Research Design
Figure 2 Market Size Estimation Methodology: Approach 1 Bottom-Up (Supply Side): Revenue Generated By Companies From Sale of Thermal Imaging Market
Figure 3 Market Size Estimation Methodology: Approach 2 Bottom-Up (Supply Side): Illustrative Example of Company Operating in Thermal Imaging Market
Figure 4 Market Size Estimation Methodology: Bottom-Up Approach
Figure 5 Market Size Estimation Methodology: Top-Down Approach
Figure 6 Data Triangulation
Figure 7 Uncooled Technology is Expected to Dominate Market During Forecast Period
Figure 8 Short-Wave Infrared (SWIR) Wavelength of Market is Expected to Grow at Highest CAGR During Forecast Period
Figure 9 Thermal Cameras of Thermal Imaging are Expected to Dominate Market During Forecast Period
Figure 10 Monitoring and Inspection Application of Market is Expected to Grow at Highest CAGR During Forecast Period
Figure 11 Healthcare & Life Sciences Vertical to Witness Highest CAGR in Market During 2020–2025
Figure 12 North America is Expected to Dominate Market During Forecast Period
Figure 13 Rising Demand for Advanced Thermal Imaging Products in Aerospace & Defense Sector to Spur Market Growth During Forecast Period
Figure 14 Thermal Cameras and Security and Surveillance to be Largest Shareholders in Overall Market, By Product Type and Application, Respectively, in 2025
Figure 15 China to Record Highest CAGR in Overall Market During Forecast Period
Figure 16 North America to Record Largest Share in Overall Market During Forecast Period
Figure 17 Market: Drivers, Restraints, Opportunities, and Challenges
Figure 18 Military Expenses of Different Countries in 2018
Figure 19 Market Drivers and Their Impact
Figure 20 Market Restraints and Their Impact
Figure 21 Market Opportunities and Their Impact
Figure 22 Market Challenges and Their Impact
Figure 23 Value Chain of Thermal Imaging Market
Figure 24 Thermal Imaging Market, By Technology
Figure 25 Uncooled Segment of Market is Projected to Grow at Higher CAGR From 2020 to 2025
Figure 26 Market, By Wavelength
Figure 27 SWIR Segment of Market is Projected to Grow at Highest CAGR From 2020 to 2025
Figure 28 Market, By Product Type
Figure 29 Thermal Modules Segment of Market is Projected to Grow at Highest CAGR From 2020 to 2025
Figure 30 Market, By Application
Figure 31 Monitoring and Inspection Segment of Market is Projected to Grow at Highest CAGR From 2020 to 2025
Figure 32 HVAC System Inspection Segment of Monitoring and Inspection Application is Projected to Grow at Highest CAGR From 2020 to 2025
Figure 33 HVAC System Inspection Segment of Market in US Projected to Grow at Highest CAGR From 2020 to 2025
Figure 34 Industrial Vertical for Level Measurement Segment of Detection and Measurement Application Projected to Grow at Highest CAGR From 2020 to 2025
Figure 35 Thermal Imaging Market, By Vertical
Figure 36 Healthcare & Life Science Segment of Market is Projected to Grow at Highest CAGR From 2020 to 2025
Figure 37 Monitoring and Inspection Segment of Aerospace & Defense Vertical is Projected to Grow at Highest CAGR From 2020 to 2025
Figure 38 Prototype Assessment Segment of Food & Beverages for Detection and Measurement Application is Projected to Grow at Highest CAGR From 2020 to 2025
Figure 39 Geographic Segmentation of Thermal Imaging Market
Figure 40 APAC to Witness Highest Growth During Forecast Period (USD Million)
Figure 41 North America: Market Snapshot
Figure 42 Europe: Market Snapshot
Figure 43 UK in Europe of Market to Witness the Highest CAGR During Forecast Period
Figure 44 APAC: Market Snapshot
Figure 45 Monitoring and Inspection Application in RoW to Witness Highest CAGR During Forecast Period
Figure 46 Companies Adopted Product Launches and Developments as the Key Growth Strategy During, 2017-2019
Figure 47 Ranking of the Top 5 Players in the Thermal Imaging Market
Figure 48 Market Evaluation Framework-Product Launches and Product Developments Fueled Growth and Innovation During, 2017-2019
Figure 49 Thermal Imaging Market (Global) Competitive Leadership Mapping, 2019
Figure 50 FLIR Systems, Inc.: Company Snapshot
Figure 51 Leonardo S.P.A.: Company Snapshot
Figure 52 L3HARRIS TECHNOLOGIES, Inc.: Company Snapshot
Figure 53 United Technologies: Company Snapshot
Figure 54 BAE Systems: Company Snapshot

The study involved 4 major activities for estimating the size of the thermal imaging market. Exhaustive secondary research has been carried out to collect information relevant to the market, the peer market, and the parent market. Primary research has been undertaken to validate these findings, assumptions, and sizing with the industry experts across the value chain of the thermal imaging market. Both top-down and bottom-up approaches have been employed to estimate the complete market size. After that, the market breakdown and data triangulation methods have been used to estimate the size of different segments and subsegments of the market.

Secondary Research

The research methodology used to estimate and forecast the size of the thermal imaging market began by capturing data related to the revenues of key vendors in the market through secondary research. This study involved the extensive use of secondary sources, directories, and databases (such as Hoovers, Bloomberg Businessweek, Factiva, and OneSource) to identify and collect information useful for a technical, market-oriented, and commercial study of the thermal imaging market. Vendor offerings have been taken into consideration to determine the market segmentation. The entire research methodology included the study of annual reports, press releases, and investor presentations of companies; white papers; and certified publications and articles by recognized authors, directories, and databases.

Primary Research

The thermal imaging market comprises several stakeholders, such as suppliers of standard components and original equipment manufacturers (OEMs). The demand side of this market is characterized by the development and manufacture of thermal imaging applications as well as by different verticals. The supply side is characterized by advancements carried out in different thermal imaging products such as thermal cameras, thermal scopes, and thermal modules. Various primary sources from both the supply and demand sides of the market have been interviewed to obtain qualitative and quantitative information. Following is the breakdown of primary respondents.

Thermal Imaging Market

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

Market Size Estimation

Both top-down and bottom-up approaches have been used to estimate and validate the size of the thermal imaging market and its segments. The research methodology used to estimate the market size included the following:

  • Key players in the market have been identified through extensive secondary research.
  • The supply chain of the manufacturing industry and the size of the thermal imaging market, in terms of value, have been determined through primary and secondary research processes.
  • All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.

Data Triangulation

After arriving at the overall market size—using the market size estimation process explained above—the total market has been split into several segments and subsegments. Data triangulation and market breakdown procedures have been employed, wherever applicable, to complete the overall market engineering process and arrive at the exact statistics of each market segment and subsegment. The data has been triangulated by studying various factors and trends from both demand and supply sides of the thermal imaging market.

Research Objectives

  • To describe and forecast the overall size of the thermal imaging market by technology, wavelength, product type, application, and vertical, in terms of value
  • To describe and forecast the size of the market, by regions—North America, Europe, Asia Pacific (APAC), and the Rest of the World (RoW) in terms of value
  • To provide detailed information regarding the major factors such as drivers, restraints, opportunities, and challenges influencing the market growth
  • To describe the thermal imaging value chain in brief
  • To strategically analyze micromarkets with respect to individual growth trends, prospects, and contributions to the overall market
  • To strategically profile the key players and comprehensively analyze their position in the thermal imaging market in terms of their ranking and core competencies as well as provide detailed information on the competitive landscape of the market
  • To analyze competitive developments such as product launches and developments, expansions, partnerships, agreements, contracts, and mergers & acquisitions undertaken in the thermal imaging market

Available Customizations

Along with the market data, MarketsandMarkets offers customizations according to the specific requirements of companies. The following customization options are available for the report:

Company Information

  • Detailed analysis and profiling of additional market players (up to 5)

Critical Questions

  • What are new application areas being explored by the providers of thermal imaging products?
  • Who are the key players in the thermal imaging market, and how intense is the competition in this market?
Report Code
SE 6267
Published ON
Feb, 2020
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