Thermal Camera Market Share

Global Thermal Camera Market Overview:

Thermal Camera Market Size was valued at USD 4.82 Billion in 2023. The Thermal Camera market industry is projected to grow from USD 5.16 Billion in 2024 to USD 8.41 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 6.28% during the forecast period (2024 - 2032).

Factors such as the rising government expenditure on the defense sector and the requirement for higher video quality in surveillance systems are the key market drivers enhancing the market growth.

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Thermal Camera Market Trends

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  The rising adoption of thermal camera in automotive testing applications globally is driving the market growth

  
  

Market CAGR for thermal camera is being driven by the rising adoption of thermal camera in automotive testing applications. Thermal cameras can be used in a wide range of automotive testing applications, such ascomputer architecture,vehicle thermal control,and engine monitoring, as well as testing of next-generation internal combustion and electric propulsion. As thermal imaging technology becomes more compact, economical, and advanced, the use of these camerasisincreasingto meet the industry's growing demands. A thermal camera device's key advantage is its ability to capture hundreds of temperature-measuring values in a single image, whereas other technologies such as spot guns,thermocouples,or resistance temperature detectors (RTDs) only record a single point temperature. Using an infrared camera, engineers and automotive field technicians may see the thermal profiles of the objects being investigated and gain a better understanding of the overall thermal built-up of the system. Thermal imaging is completely non-contact and eliminates the need to install sensors and expensive instruments, which reduces processing times, saves money, and allows manufacturers to launch their products more quickly.

Another key reason driving demand for thermal cameras is the increasing demand from the oil & gas industry. The oil and gas industry faces numerousissues, such aspipe failures, malfunction of generators,turbines,and valves. Detecting invisible oil and gas leaks are time-consuming anddifficultusing traditional inspection methods, especially when numerous components need tobe evaluated. Thermalcameras are widely usedas preventive maintenance tools for monitoring leaks in pipelines,reservoirs, and facilities. As a result, they improve protection, competitiveness, and pollution reduction while reducing the possibility of interruption due to regulatory agency action. These cameras enable inspectors and maintenance crews to spot leaks more quickly and detect the source, resulting in faster repairs and lower industrial gas emissions. These factors are boosting the demand for thermal cameras.

The commercial use of thermal imaging cameras is increasing, due to which, the market is expected to rise significantly over the next few years. Some common applications for thermal cameras include security, fire detection, and home automation.Thermal cameras, which were originally designed for military use, are now increasingly being used in non-military settings. In healthcare, more people are using robust thermal cameras, which could lead to profitable growth opportunities. Thermal imaging cameras are now being used in a broader range of medical applications. The diagnosis of breast diseases such as mastitis, fibrocystic breast disease, andbreast cancer is one of the most common applications of thermography, which typically use thermal cameras. Thus, the growing commercial use is driving the Thermal Camera market revenue.

Thermal Camera Market Segment Insights:

Thermal Camera Type Insights

The Thermal Camera Market segmentation, based on Type includes Cooled IR detector and Uncooled IR detector. The cooled IR detector segment is expected to dominate the market, accounting for 55.4% of market share due to their substantial capture rate and extensive thermal isolation band. Furthermore, cooled IR cameras often have higher magnification capacities due to the shorter infrared wavelength detection. Due to the increased resistance properties of cooled IR thermal cameras, lenses with more optical elements or thicker components can be employed to boost magnification efficiency without compromising the signal-to-noise ratio.

Figure 1: Thermal Camera Market, by Type, 2022 & 2032 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Thermal Camera Mobility Insights

The Thermal Camera Market segmentation, based on Mobility includes Handheld fixed and Handheld mounted. The handheld mounted ras segment is dominatingdue to its wide range of applications, such asmedical imaging,predictive maintenance, and thermal imaging, Furthermore, the growing demand for these cameras in the healthcare industry to measure body temperature and for other uses promotes demand for these cameras.

Thermal Camera Application Insights

The Thermal Camera Market segmentation, based on Application includes Building inspection, Fault detection, Law enforcement, Medical, Industrial process, Astronomy, Meteorology, and Others. The building inspection application is expected to hold a dominant share of the market during the forecasted period because of their great performance, superior image processing capabilities, high field durability, and minimal picture distortion. Furthermore, these devices are used in a various security and surveillance applications in the domains of safety, perimeter security, homeland security, and law enforcement.

Thermal Camera Regional Insights

By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North America Thermal Camera market region will dominate this market Because of the large presence ofthermal camera manufacturers in this region. As a result, North America holds 45.80% market share in the Thermal Camera Market. Additionally, government spending in the military and defense sectors have also aided market revenue growth. Further, the US Thermal Camera market held the largest market share, and the Canada Thermal Camera market was the fastest growing market in the region.

Further, the major countries studied in the market report are the US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 2: Thermal Camera Market SHARE BY REGION 2022 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

European Thermal Camera market is expected to hold significant market share. Rising need for defense and monitoring is expected to drive growth in this region. The gradual drop in the prices of thermal cameras, as well as the availability of low-cost thermal sensors, is also driving thedemand in this region. Furthermore, countries such as France, the UK, and Italy are increasing their military spending and consequently account for significant market shares. Further, the Germany Thermal Camera market held the largest market share, and the UK Thermal Camera market was the fastest growing market in the European region.

The Asia Pacific Thermal Camera Market is expected to grow at the fastest CAGR from 2023 to 2032, because of theincrease of conflicts over borders between countries likeChina andIndia. These wars are forcing governments to increase military spending and equip their armed forces with modern surveillance equipment like thermal cameras. Moreover, China Thermal Camera market held the largest market share, and the Indian Thermal Camera market was the fastest growing market in the Asia Pacific region.

Thermal Camera Key Market Players & Competitive Insights

Leading market players are investing heavily in research and development in order to expand their product lines, which will help the Thermal Camera market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, Thermal Camera industry must offer cost-effective items.

Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the global Thermal Camera industry to benefit clients and increase the market sector. In recent years, the Thermal Camera industry has offered some of the most significant advantages to the defense sector. Major players in the Thermal Camera market, including FLIR Systems Inc., Axis Communications AB, Seek Thermal, Opgal Optronic Industries Ltd., Jenoptik AG, Fluke Corporation, PCE Instruments, LumaSense Technologies Inc., Mobotix AG, Spectronic Plc., Optris GmbH, are attempting to increase market demand by investing in research and development operations.

Axis Communications AB was founded in 1984. Its headquarter is located in Lund, Sweden. It is a Swedish company that manufactures network audio devices, network cameras, andaccess control systemsfor video surveillance and physical security. Axis Communications AB employs around 4,000 people in over 50 countries and works with technology and system integration partners across the world to provide customer solutions. The company has been operating as an independent subsidiary of Canon Inc. since 2015. In addition, the company provides global service and support. The CEO of Axis Communications AB is Ray Mauritsson.

Teledyne FLIR LLC, originally FLIR Systems Inc, specializes in the design and manufacturing of thermal imaging cameras and sensors. It was founded in 1978 and its headquarter is in Wilsonville, Oregon, United States. Globally, the company employs about 4,000 people. Its primary customers are governments, with the federal government of the USand its agencies accounting for around 31% of its revenues in 2020. In January 2021, Teledyne Technologies announced anagreement to acquire FLIR Systems Inc.for $8 billion, compared to $1.9 billion in revenue in 2019.FLIR Systems Inc. was renamed Teledyne FLIR LLC when the deal was completed in May 2021.

Key Companies in the Thermal Camera market include

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  Teledyne FLIR LLC

  
  


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  Axis Communications AB

  
  


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  Seek Thermal

  
  


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  Opgal Optronic Industries Ltd.

  
  


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  Jenoptik AG

  
  


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  Fluke Corporation

  
  


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  PCE Instruments

  
  


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  LumaSense Technologies Inc.

  
  


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  Mobotix AG

  
  


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  Spectronic Plc.

  
  


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  Optris GmbH

  
  

Thermal Camera Industry Developments

February 2024: Prama India and the Centre for Development of Advanced Computing (C-DAC), Ministry of Electronics & Information Technology (MeitY), Government of India, have partnered technologically for Thermal Cameras, a major step towards supporting innovation and domestic manufacture. Officially, the collaboration was announced at the IIITM, New Delhi, "Digital India FutureLabs" launch event.

Prama India is now empowered as a technology partner to manufacture, sell, and service the recently launched thermal camera products under the "Transfer of Technology" (ToT) agreement. On the occasion, MoS for Electronics & IT Rajeev Chandrasekhar launched the "Digital India FutureLABS" and gave the keynote speech.

"A new milestone in our indigenous manufacturing journey has been reached with the signing of the Transfer of Technology (ToT) Agreement for Thermal Camera Technology with C-DAC, Thiruvananthapuram," a Prama India spokesman said. "We are dedicated to realizing the objectives of Viksit Bharat and Surakshit Bharat as outlined by Atmanirbhar Bharat.  

Emphasizing the importance of the collaboration, the official said, "Prama India is the Technology Partner of C-DAC for general-purpose thermal cameras, according to the certificate of cooperation. According to the transfer of technology agreement with C-DAC, Thiruvananthapuram, Prama India is allowed to produce, sell, and service general-purpose thermal cameras in India.”

Being well-known for its dedication to "Made for India, Made by India, and Made in India," Prama India has established itself as the industry leader in indigenous production of video surveillance solutions. Modern production plant of the corporation located close to Mumbai seeks to turn India into a major center for video security device manufacture and export.

The C-DAC project "Digital India FutureLABS" seeks to capitalize on the trillion-dollar potential offered by the Electronics System Design and Manufacturing (ESDM) industry. Specializing in important growth sectors including computing, communication, automotive & mobility, strategic electronics, and industrial IoT, the project is ideally positioned to take use of cutting-edge technologies like AI, Big Data, and Quantum Computing, which will revolutionize Indian research.

January 2021- Axis Communications AB launched a thermal camera 'AXIS Q8752-E', that allows for 3x zoomfor accurate detection and identification in all light and weather circumstances. This hasincreasedthe use of thermal cameras in a variety of industrial applications.

June 2021- Teledyne FLIR LLCintroduced A700f andFLIR A500fruggedized thermal cameras, which includeshigh-temperature detection for particularly critical applications. For external conditioning monitoring applications, these cameras enable alarm capabilities and on-cameraanalytics.

Thermal Camera Market Segmentation:

Thermal Camera Type Outlook

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  Cooled IR detector

  
  


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  Uncooled IR detector

  
  

Thermal Camera Mobility Outlook

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  Handheld fixed

  
  


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  Handheld mounted

  
  

Thermal Camera Application Outlook

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  Building inspection

  
  


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  Fault detection

  
  


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  Law enforcement

  
  


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  Medical

  
  


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  Industrial process

  
  


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  Astronomy

  
  


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  Meteorology

  
  


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  Others

  
  

Thermal Camera Regional Outlook

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  North America

  
  

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  US

  
  


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  Canada

  
  

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  Europe

  
  

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  Germany

  
  


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  France

  
  


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  UK

  
  


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  Italy

  
  


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  Spain

  
  


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  Rest of Europe

  
  

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  Asia-Pacific

  
  

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  China

  
  


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  Japan

  
  


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  India

  
  


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  Australia

  
  


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  South Korea

  
  


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  Australia

  
  


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  Rest of Asia-Pacific

  
  

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  Rest of the World

  
  

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  Middle East

  
  


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  Africa

  
  


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  Latin America