Press release
Thermal Imaging Market Overview 2024-2033 - Share, Size, Trends, Forecast
Thermal Imaging Market
The Business Research Company offers in-depth market insights through Thermal Imaging Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The thermal imaging market size has grown rapidly in recent years. It will grow from $6.89 billion in 2023 to $7.62 billion in 2024 at a compound annual growth rate (CAGR) of 10.7%. The growth in the historic period can be attributed to military and defense applications, industrial inspections, building and infrastructure inspections, law enforcement and public safety, medical diagnosis.
The thermal imaging market size is expected to see rapid growth in the next few years. It will grow to $11.81 billion in 2028 at a compound annual growth rate (CAGR) of 11.6%. The growth in the forecast period can be attributed to surveillance and security needs, infrastructure development, firefighting and emergency response, health screening, automotive safety. Major trends in the forecast period include focus on high-resolution thermal imaging for surveillance, application of thermal imaging in building and infrastructure inspection, innovation in thermal imaging for agricultural and environmental monitoring, utilization of thermal imaging in industrial predictive maintenance, development of multi-spectral thermal imaging solutions.
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Market Segmentation:
The thermal imaging market covered in this report is segmented -
1) By Type: Thermal Cameras, Thermal Scopes, Thermal Modules
2) By Technology: Cooled, Uncooled
3) By Wavelength: Shortwave Infrared, Mid Wave Infrared, Long Wave Infrared
4) By Application: Thermography, Surveillance, Personal Vision Systems, Fire Fighting, Smartphones (Ruggedized), Other Applications
5) By Vertical: Aerospace And Defense, Law enforcement, Healthcare, Automotive, Oil And Gas, Residential, Manufacturing, Other Verticals
Major Driver - Government Investments Fueling Thermal Imaging Market In Aerospace And Defense
Increasing government expenditure in the aerospace and defense sector is significantly driving the growth of the thermal imaging market. Thermal imaging technology assists in the surveillance and observation of things in the aerospace and defense industries, which require additional surveillance. For instance, the national government has allotted $62.76 billion (Rs 4,71,378 crore) to the Ministry of Defense for the year 2020-21. The Ministry of Defense received the biggest budgetary allocation among any central government ministry. Defense spending accounts for 15.5% of the central government's budget in 2020-21.
Competitive Landscape:
Major companies operating in the thermal imaging market report are United Technologies Corporation, RTX Corporation, Canon Inc., BAE Systems plc, L3HARRIS Technologies Inc., Hangzhou Hikvision Digital Technology Co Ltd., Zhejiang ULIRvision Technology Co Ltd., Leonardo S.p.A., Teledyne Technologies Incorporated, Sofradir SAS, FLIR Systems Inc., Axis Communications AB, Fluke Corporation, Jenoptik AG, Testo SE & Co KGaA, Wuhan Guide Sensmart Tech Co Ltd., Guide Infrared Co Ltd., Vertex Aerospace LLC, Nippon Avionics Co Ltd., Thermoteknix Systems Ltd., InfraTec Infrared LLC, Xenics NV, Opgal Optronic Industries Ltd., Cantronic Systems Inc., Tonbo Imaging Pvt Ltd., MoviTHERM, New Imaging Technologies, Seek Thermal Inc., Argus Thermal Imaging Cameras
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Top Trend - Product Innovations To Provide Reliable Services To The Customers
Major companies operating in the thermal imaging market are developing innovative products such as the thermal imaging camera to provide reliable services to customers. A thermal imaging camera, also known as an infrared camera, is a device capable of capturing images based on the heat emitted by objects rather than visible light. For instance, in April 2023, Seek Thermal, a US-based thermal technology company launched the FirePRO 300, a situational awareness thermal imaging camera designed for firefighters. The FirePro 300 features Seek Thermal's proprietary Mixed Gain mode, which allows firefighters to simultaneously view both extreme heat and cold objects in a single image, providing better contrast and enhancing the visibility of important details.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Thermal Imaging Market Characteristics
3. Thermal Imaging Market Trends And Strategies
4. Thermal Imaging Market - Macro Economic Scenario
5. Thermal Imaging Market Size And Growth
…..
27. Thermal Imaging Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialize in various industries including manufacturing, healthcare, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries.
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