Press release
Thermal Camera Market Forecast 2025-2034: Evaluating Growth Factors, Segments, and Emerging Trends
Thermal Camera Market Size
In recent times, there has been a solid growth in the size of the thermal camera market. The market that was worth $4.22 billion in 2024, is predicted to reach a value of $4.63 billion in 2025 with an impressive compound annual growth rate (CAGR) of 9.6%. The historical growth of this market stems from a surge in demand for sophisticated surveillance and security systems, more usage of thermal imaging in firefighting applications, a rise in the implementation of smart building technologies, a growing fondness towards thermal imaging in agricultural operations, and an increase in demand for handheld thermal imaging appliances.
The market size of thermal cameras is predicted to witness significant expansion in the forthcoming years. The market is anticipated to increase to $6.59 billion in 2029, with a compound annual growth rate (CAGR) of 9.3%. This growth during the forecast period can be attributed to factors like its extensive utilization in automotive applications, its growing adoption in healthcare diagnostics, the escalating demand for predictive maintenance in various industries, enhanced concerns about safety and fire prevention, as well as the increase in theft and vandalism occurrences. Important trends to watch during the forecast period involve technological advancements, inclusion of artificial intelligence, sensor technology, connected IoT devices, and compact designs.
What Factors Are Propelling the Expansion of the Thermal Camera Market?
The growth of the thermal camera market is anticipated to be driven by the expansion of the automotive industry. This sector includes industries involved in the creation, manufacturing, marketing, and maintenance of automotive vehicles and their components. The automotive industry is growing due to factors such as a rise in the demand for personal and commercial automobiles, advancement in technology for electric and self-driven vehicles, development in emerging markets, and innovative features in connectivity and automation that increase vehicle performance and safety. Within the vehicle industry, thermal cameras are utilised to improve safety by identifying components that are overheating, improving night vision, and aiding autonomous driving and driver support systems. For example, a report released by the Society of Motor Manufacturers and Traders in March 2024 noted that UK car production saw a hike of 17.8% to 162,904 units in 2024, marking it the highest at the start of the year since 2021. Hence, the development of the automobile industry is accelerating the growth of the thermal camera market.
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Which Businesses Are at the Forefront of Thermal Camera Market Development?
Major companies operating in the thermal camera market are Mobotix AG, Raytheon Technologies Corporation, Northrop Grumman Corporation, BAE Systems plc, Hikvision Digital Technology Co. Ltd., Ametek Inc., Fluke Corporation, Kongsberg Gruppen ASA, SICK AG, Axis Communications AB, Jenoptik AG, Testo SE & Co. KGaA, Teledyne FLIR LLC, CTC Global Corporation, Seek Thermal Inc., LumaSense Technologies Inc., Optris GmbH, Thermoteknix Systems Ltd., Opgal Optronic Industries Ltd., PCE Instruments, Aerialtronics BV, Extech Instruments LLC, Raptor Photonics Ltd., Variohm Eurosensor Ltd.
What Are the Emerging Trends in the Thermal Camera Industry?
Leading companies in the thermal camera market are prioritizing the development of highly advanced products like IoT thermal cameras, which can provide instantaneous, off-site surveillance and analysis. IoT thermal cameras are thermal imaging devices boosted with Internet of Things (IoT) technology which permits them to link to networks and send thermal data immediately for off-site surveillance, examination, and blending with other intelligent systems. For example, Infrared Cameras Incorporated (ICI), an American company that develops thermal and acoustic imaging cameras, unveiled its APEX 200 in February 2022. This IoT-friendly thermal camera is specifically created for persistent temperature surveillance and detection of overheating areas in industrial and power producing units. Despite its compact size, the sturdy APEX 200 comes with a 256 x 192 thermal detector, live video broadcasts, as well as a plethora of interface protocols, making it the ultimate choice for applications that are tough to reach, thereby ramping up operational safety and efficiency. The APEX 200, designed for durability and compactness, is perfect for challenging tasks like vents, manholes, and electrical apparatus. The camera is IoT-integration friendly, supports an array of interface protocols, and also comes with Wi-Fi, automatic alert systems, and live video broadcasts.
How Is the Thermal Camera Market Segmented?
The thermal camera market covered in this report is segmented -
1) By Type: Cooled Infrared Detector; Uncooled Infrared Detector
2) By Mobility: Handheld Fixed; Handheld Mounted
3) By Application: Monitoring; Inspection; Security; Surveillance; Detection; Measurement; Search; Rescue Operations; Other Applications
4) End User: Military; Defense; Industrial; Commercial; Life Sciences; Healthcare; Residential; Automotive; Other End Users
Subsegments:
1) By Cooled Infrared Detector: Liquid Nitrogen-Cooled Detectors; Stirling-Cooled Detectors; Dual-Use Cooled Detectors
2) By Uncooled Infrared Detector: Microbolometer Detectors; Thermal Detection Arrays; MEMS (Micro-Electro-Mechanical Systems) Detectors
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Where Is the Thermal Camera Market Growth Most Prominent?
North America was the largest region in the thermal camera market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the thermal camera market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Is Covered In The Thermal Camera Global Market Report?
- Market Size Analysis: Analyze the thermal camera Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the thermal camera Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the market.
- Market Contribution: Evaluate contributions of different segments to the overall thermal camera market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the thermal camera market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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