Thermal Camera Market Opportunities, Demand, Scope and Forecast 2028

According to Precision Business Insights (PBI), the latest report, the thermal camera market is expected to be valued at USD 7,103.5 million in 2022 and is poised to grow at a significant CAGR of 6.9% over 2022-2028. The primary driver of the expansion of the global Thermal Camera market are rising demand from numerous industries, rapid technological advancements in thermal imaging, and increasing applications in defense, homeland security, medical, and commercial areas.

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Handheld Cameras Segment to Dominate the Thermal Camera Market:
On the basis of type, handheld cameras registered for the highest market share and are expected to dominate the market over the forecast period owing to their extensive applications, such as thermal imaging, predictive maintenance, medical imaging, and many others. Furthermore, the increasing demand for these cameras by the healthcare industry for various purposes such as measuring body temperature and for others. This extension of the application of handheld cameras will surely fuel the global thermal camera market growth.

North America Thermal Camera Market:
North America accounted for a significant market share in the Global Thermal Camera Market and is anticipated to lead the market over the projected period, owing to the existence of major thermal camera manufacturers in this region. Also, thermal imaging machinery such as scopes, thermal cameras, and modules are produced on a large scale in the region. Furthermore, the government making huge investments in the military & defense sector has also contributed positively to the market revenue growth.

Strategic New Product Launches, Mergers, Acquisitions, and Agreements are the key strategies adopted by market players:
The global Thermal Camera market further reveals that the key players are increasingly adopting strategies such as the launch of newer products, product launches, and long-term alliances to improve market revenue share and gain significant geographic presence across the region. For instance, In June 2022, FLIR Systems announced the launch of a new E52 handheld thermal imaging camera.

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The thermal camera market is segmented based on type, application, end user, and geography.
Based on the type, the market is segmented into the following:
• Handheld Cameras
• Standstill Cameras
• Others

Based on the application, the market is segmented into the following:
• Security & Surveillance
• Monitoring & Inspection
• Detection & Measurement

Based on the end user, the market is segmented into the following:
• Industrial
• Aerospace & Defense
• Automotive
• Others (Law Enforcement, Healthcare, and Marine)

Based on geography, the market is segmented into the following:
• North America
• Europe
• The Asia Pacific
• Latin America
• MEA

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Key players' profiles in the thermal camera market report are Axis Communications, FLIR Systems, United Technologies, Fluke Corporation, Leonardo, L3HARRIS TECHNOLOGIES, BAE System, Opgal, Testo, and Thales group.

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