Thermal Imaging Market is estimated to grow at a CAGR of 7.4% during the forecast period 2022-2029 | Marketlook Consulting

Introduction to thermal camera, increasing demand for accurate results, increasing demand for advanced solutions are one of the key factors leading to the growth of thermal imaging market. Many sectors such as healthcare, manufacturing & defence have introduced the usage of thermal imaging cameras into their systems with a view to rule out abnormal parameters. This technology was put to use during pandemic when there rise in the body temperature proved to be major factor which helped to protect the people who are not infected. The use of thermal camera in defence has proved to be beneficial in the sector. Moreover, the demand for vehicles which are driverless & autonomous has boosted the demand for thermal camera techniques that provide premium experience to the consumer.

According to Marketlook Consulting' research report "Global Thermal Imaging Market Analysis, 2021", the Global thermal imaging market is anticipated to grow at a CAGR 7.4% during 2022-29 the market would reach to USD 5.43 Bn by 2029.

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Based on type, thermal imaging market is segmented into handheld & fixed/mounted. Fixed/ mounted segment grabbed the largest market share in 2021, owing to the demand for fixed CCTV's camera for surveillance & security purposes.

Based on application, market is bifurcated into border surveillance, vehicle targeting, C-UAS, maritime & coastal surveillance, critical infrastructure & other. C-UAS is expected to be the fastest growing segment is the upcoming years. The rising demand for thermal scopes, modules, camera & others for vehicle is contributing to the growing share of this segment.

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"Global Thermal Imaging Market Analysis, 2021" provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for thermal imaging providers across the Globe. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor's capabilities on 16 parameters. This will help companies in the formulation of go to Market Strategies and identifying the blue ocean for its offerings.

North America Dominated the Market
Based on Leading regions North America dominated the global thermal imaging market in 2021 and is projected to maintain its dominance during the forecasted period 2022-29. The region is home to the major producers of thermal imaging components such as thermal cameras, scope, modules. Moreover, due to the presence of numerous manufacturers & distributors, the low cost of thermal imaging components & increasing government expenditure in the aerospace & defense sector in the forthcoming period as stated in Marketlook Consulting research report "Global Thermal Imaging Market Analysis, 2021".

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According to Marketlook Consulting', the key players with a considerable market share in the global thermal imaging market are BAE System Plc, Leonardo S.p.A., Thales Group, FLIR Systems, Inc., American Technologies Network, Opgal Optronic Industries Ltd., Fluke Corporation, Thermoteknix Systems Ltd., Seek Thermal, Inc., Cantronic Systems, Inc.

Market Segmentation:
1. By Type (Handheld, Fixed/Mounted.)
2. By Technology (Uncooled, Cooled)
3. By Product (Thermal Camera, Thermal module)
4. By Wavelength (Shortwave infrared, Mid wave infrared)
5. By Application (Border Surveillance, Vehicle Targeting, C-UAS, Maritime & Coastal Surveillance, Critical Infrastructure, Other)
6. By End-user (Industrial, Commercial, Residential, Aerospace and Defense, Automotive, Healthcare& Life Sciences, Oil and Gas, Others)
7. By Region (North America, Europe, Asia-Pacific, Latin America, Middle East and Africa)
8. By Company (BAE System Plc, Leonardo S.p.A., Thales Group, FLIR Systems, Inc., American Technologies Network, Opgal Optronic Industries Ltd., Fluke Corporation, Thermoteknix Systems Ltd., Seek Thermal, Inc., Cantronic Systems, Inc.)

Key questions answered in the study:
1. What are the current and future trends of the thermal imaging industry?
2. How the industry has been evolving in terms of type and application?
3. How the competition has been shaping across the countries followed by their comparative factorial indexing?
4. What are the key growth drivers and challenges for the thermal imaging industry?
5. What is the customer orientation, purchase behavior, and expectations from the thermal imaging companies across various regions?

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