DUBLIN--(BUSINESS WIRE)--The "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 has been added to ResearchAndMarkets.com's offering.
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%. Increasing adoption of thermal imaging in the automotive industry is one of the key factors fueling the growth of this market.
Among technology, the market for uncooled technology is expected to grow at the highest CAGR during the forecast period. Thermal products based on uncooled technology are widely used in different verticals such as aerospace & defense, industrial, commercial, residential, and others due to their ability to work in all weather conditions. Also, they cost low and are less subjected to restrictions compared to cooled thermal products. Moreover, they have long operation life as well as require less maintenance.
Market for SWIR wavelength is expected to grow at highest CAGR during forecast period.
Among wavelengths, the market for SWIR wavelength is expected to grow at the highest CAGR during the forecast period. The growth is attributed to its ability to serve numerous applications such as high-temperature thermography, moisture detection, spectroscopy, security and surveillance, semiconductor inspection, and scientific research.
Market for thermal modules is expected to grow at highest CAGR during forecast period.
Among thermal products, thermal modules are at the heart of systems used to deliver superior image quality. Moreover, they are available in small sizes, lightweight, and consume low power and produce the same image under different light conditions. Owing to this, the market for modules is expected to grow at the highest CAGR during the forecast period.
Monitoring and inspection application of thermal imaging is expected to grow at highest CAGR during forecast period.
Monitoring and inspection application of the thermal imaging is expected to grow at the highest CAGR during the forecast period. The growth is attributed to the rising adoption of thermal imaging cameras for a thermal audit of machines and equipment in the manufacturing industry. This helps to avoid operational shutdown and aid companies to save money by detecting the fault at the infancy stage. Moreover, the thermal audit does not cause any damage to the machines and equipment.
Healthcare and life sciences vertical is expected to grow at highest CAGR during forecast period.
The market for healthcare and life sciences vertical is expected to grow at the highest CAGR during the forecast period. The growth is attributed to the rising adoption of thermography due to their several benefits, such as instant detection of injuries or blockages with high definition image quality and low cost. Moreover, thermal imaging solutions are a reliable tool for medical assessment and diagnosis of various illnesses and diseases such as fever, headache, allergy, and different types of cancer in humans and animals.
Europe held second-largest share of thermal imaging market during 2019.
Europe is the second-largest market for thermal imaging, owing to the presence of lucrative automotive, healthcare, and industrial & manufacturing verticals in the region. Moreover, Europe is home to huge players in the thermal imaging market, such as Axis Communications AB (Lund, Sweden) and Thermoteknix Systems Ltd. (UK). They are considered as a trendsetter in this market as they develop innovative thermal imaging cameras and thermal scopes, used in security and surveillance, as well as monitoring and inspection application areas.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
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
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
6.1 Introduction
6.2 Cooled
6.3 Uncooled
7 Thermal Imaging Market, By Wavelength
7.1 Introduction
7.2 Short-Wave Infrared (SWIR)
7.3 Mid-Wave Infrared (MWIR)
7.4 Long-Wave Infrared (LWIR)
8 Thermal Imaging Market, By Product Type
8.1 Introduction
8.2 Thermal Cameras
8.3 Thermal Scopes
8.4 Thermal Modules
9 Thermal Imaging Market, By Application
9.1 Introduction
9.2 Security and Surveillance
9.2.1 Perimeter Security
9.2.2 Unmanned Aerial Vehicle (UAV)
9.2.3 Tracking
9.3 Monitoring and Inspection
9.3.1 Machine Condition Monitoring
9.3.2 Structural Health Monitoring
9.3.3 Quality Assessment
9.3.4 HVAC System Inspection
9.4 Detection and Measurement
9.4.1 Gas Detection
9.4.2 Fire/Flare Detection
9.4.3 Body Temperature Measurement
9.4.4 Level Measurement
9.4.5 Prototype Assessment
10 Thermal Imaging Market, By Vertical
10.1 Introduction
10.2 Industrial
10.3 Commercial
10.4 Residential
10.5 Aerospace & Defense
10.6 Automotive
10.7 Healthcare & Life Sciences
10.8 Oil & Gas
10.9 Food & Beverages
11 Geographic Analysis
11.1 Introduction
11.2 North America
11.3 Europe
11.4 APAC
11.5 RoW
12 Competitive Landscape
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
13.1 Introduction
13.2 Key Players
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
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
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