Thermal Imaging Market Size, Share, and Trends 2024 to 2034

The global thermal imaging market size reached USD 6.65 billion in 2022 and is expected to hit around USD 14.02 billion by 2032, poised to grow at a compound annual growth rate (CAGR) of 7.8% from 2023 to 2032.

Key Takeaways

• North America region accounted for 41% of revenue share in 2022.
• By product, the handheld segment accounted for 64% market share in 2022.
• By application, the security & surveillance segment has held a 48% revenue share in 2022.
• By end user, the aerospace & defense segment has captured a revenue share of around 39% in 2022.

The number of consumers who demand for thermal imaging solutions is increasing rapidly all over the world. This increasing demand is mainly considered as the primary reason for the growth of the market. Various sectors which demand advanced thermal imaging include healthcare and life sciences, manufacturing, defense and military. Advanced driver assistance systems that have been adopted by most of the sectors have also emerged as a major growth factor for this particular industry which is expected to grow further.

Wireless temperature sensors have emerged as a major component which has helped the market to record a considerable revenue over the period of time. The outbreak of the pandemic had a considerable impact on the thermal imaging market as a result of the various growth opportunities that were offered in the form of advanced solutions to various industries. The rapid increase in the body temperature which was observed during the course of the pandemic was easily detected with the help of such advanced technologies. The probable cases of infection words separated from the common masses with the help of advanced technologies which were made with the help of thermal imaging techniques.

The inclusion of smart robots into the system has helped to monitor the production of manufacturing plants. The demand for skilled workforce has been reduced to a great extent with the help of this technology. The various norms that were laid during the course of the pandemic were followed with the help of this technology.

Growth Factors

Various sectors all over the world have introduced the usage of thermal imaging cameras into their systems with a view to rule out abnormal parameters within the body of the individual. This technology was put into use during the course of the pandemic when a rapid rise in the body temperature proved to be a distinguishing factor which helped to protect the people who were not infected by the virus. The utilization of thermal cameras in the defense industry also proved to be beneficial to a great extent. Targets were identified at long ranges even during unsupportive weather conditions. Accurate results were obtained with the help of thermal imaging cameras which proved to be beneficial for the military bases. Various defense equipments like monocular, binocular, military vehicles are utilized for the purpose of surveillance which makes use of this technology on a large scale.

• Introduction of a thermal camera. 
• Increasing demand for accurate results.
• Increasing demand for advanced solutions.

Thermal Imaging Market Scope

Thermal Imaging MarketDynamics 

Key Market Drivers

• Increasing demand in automotive industry - The demand for advanced vehicles which are driverless and autonomous has boosted the demand for thermal imaging techniques that helps to provide a premium experience to the consumer. Multiple sensors are put into use for detecting and operating the system of the vehicle. Thermal cameras are utilized along with proximity sensors that helps in the total functioning of the vehicle. The climatic conditions are judged accordingly with the help of these thermal cameras which help to alter the other related functions of the vehicle. Automatic braking systems are utilized with a view to avoiding casualties.

Key Market Challenges

Restrictions regarding the export of thermal imaging products

• The US government has imposed various restrictions on the export of thermal sensors and thermal cameras which has emerged as a major challenge to the growth of the thermal imaging market. The pixel pitch and sensor size are considered according to the new restrictions that have been laid by the government. Imaging cameras that are less than 9 Hz can be bought without restrictions. Restrictions have been laid on the thermal cameras which have a pixel pitch that is smaller or equal to 17 um restrictions have also been laid over the exchange of products between the buyers and manufacturers. 

Key Market Opportunities

Inclusion of thermography in the health care system

• A diagnostic screening technique that is noninvasive is utilized for the purpose of diagnosis in the advanced stages of a disease. This technique is combined with other diagnostic and scanning tools for detecting cancer at the infant stage. Other diseases which are diagnosed with the help of these techniques include vascular diseases, injuries and infections.
• The heat which has dissipated from the body of the individual is measured with the help of thermal imaging cameras which in turn helps to assess the health of the individual. This technique can be utilized as a preventive measure against various serious diseases that can be difficult to treat at a later stage.
• The heat patterns and thermal imbalances are highlighted with the help of images by this technique. The inflammation that is produced by the circulation of blood in the human body is measured with the help of thermal imaging cameras.

Type Insights

On the basis of type, the segment of the handheld device is considered the fastest growing segment as a result of the convenience that it provides to the user. This device is easily portable which makes it a high selling product. The thermal imaging equipments are compatible with smartphones which makes it a highly demanded product among potential consumers.

A considerable share is held by the fixed type of segment as it is mainly utilized in the CCTV cameras which are used for surveillance. These cameras are usually fixed at a particular position for the purpose of security. The individuals do not need to be scanned and hence it helps to detect the living creature or object easily.

Technology Insights

On the basis of technology, the segment of uncooled equipments has emerged as the fastest growing segment during the forecast period as a result of the cost-effective features it provides the user with. The manufacturing process is much easier as compared to the other segment in the market. A range of 4 to 5 km can be covered with the help of these devices.

The segment of cooled devices has acquired a considerable market as it can detect the minute temperature variations in a particular subject. The nature of the cooled segment is highly sensitive and hence it can detect the minor changes and variations in a particular subject. This property of the cooled devices helps to organize strict security arrangements with maximum accuracy.

Product Insights

On the basis of product, the segment of thermal camera has emerged as the largest segment as a result of its multipurpose use in the various industries. The commercial sector has made use of thermal cameras on a large scale with a view to avoid malpractices. The residential zone has also made use of thermal cameras on a large scale with a view to provide maximum security to the residents. These cameras are also utilized on a large scale in the defense and military sector for providing maximum security in the restricted zones and areas. 

The segment of thermal scopes has emerged as a faster-growing segment as it is mainly utilized in the defense and military sector. A significant market share has been held by this particular segment as a result of its lightweight and small size. The power that is consumed for the operation of this particular equipment is very low which makes it a first choice for most of the consumers.

Wavelength Insights

On the basis of wavelength, the segment of midwave infrared has emerged as the largest segment during the forecast period as a result of the high efficiency it provides. The operation of the mid wave infrared devices is highly accurate even in severe climatic conditions such as fog and smoke. This technology is mainly utilized in the defense and military sector which emerges as a primary reason for the growth of this particular segment.

The segment of long wave infrared has performed significantly as a result of its technological advancement. This technology is mainly utilized for the purpose of security and surveillance. The scope of the shortwave infrared is limited as compared to the other two segments under this category.

Application Insights

On the basis of application, the segment of border surveillance has emerged as the largest segment as a result of the increasing tension between the neighboring countries. The governments of various nations are spending heavily on military and defense systems for providing maximum security to the citizens and the defense personnel. This investment made by the governments all over the world is helping the market to record a considerable revenue over the period of time.

Vertical Insights

On the basis of vertical, the segment of aerospace and defense has emerged as the largest segment as a result of the imaging techniques that are utilized in these sectors. This segment provides a cost effective of option for the lighting systems which are used for protecting the borders. The weapon stations and armored vehicles make use of thermal devices to provide maximum awareness to the operator. A higher growth is expected from the segment of law enforcement in the times to come.

Thermal Imaging Market Share, By Region, 2022 (%)

Regional Insights

On the basis of geography, the segment of North America has emerged as the largest market as a result of the technological advancements that have been observed in this particular sector. The existence of the key market players in this particular region has also emerged as a major reason for the growth of the market. The heavy investment which has been made by the government for defense and military has emerged as a major reason for the growth of the thermal imaging market.

The region of Asia Pacific has also proved to be a huge market for this technology as a result of the recent advancements that have taken place in the military sector.

Key Market Developments

• In March 2020 – a surveillance system was launched by FLIR systems which is a high-definition mid-range equipment known as Ranger HDC MR. This system was mainly introduced with a view to detect the various illegal activities in degraded climatic conditions.

Segments Covered in the Report

By Type

• Handheld
• Fixed or Mounted

By Technology

• Uncooled
• Cooled

By Product

• Thermal Module
• Thermal Scopes
• Thermal Camera

By Wavelength

• Midwave Infrared
• Shortwave Infrared
• Long wave Infrared

By Application

• Security & Surveillance
• Monitoring & Inspection
• Detection & Measurement
• Others

By End User

• Manufacturing
• Residential
• Oil and gas
• Automotive
• Healthcare
• Law Enforcement
• Aerospace and Defense
• Others

By Geography

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East & Africa (MEA)