The thermal imaging market is forecasted to grow at CAGR of 6% for the forecast period of 2021 to 2029. Thermal imaging is a method of using infrared radiation and thermal energy to gather information about objects, in order to formulate images of them, even in low visibility environments. It’s a type of technology that has built up a broad range of uses over the years. The thermal imaging market is emerging over a year with its applications in various sectors. This industry is proving to be a boon to technological advancement & innovation across globe.
Technology Advancement Driving Market Growth
Thermal imaging is based on the science of infrared energy which is emitted from all objects. This energy from an object is also referred to as the “heat” & the quantity of radiation emitted tends to be equal to the overall heat of the object. Thermal cameras or thermal imagers are devices comprised of a sensitive heat sensor with the capacity to pick up minute differences in temperature.In general, thermal images are gray scale with white representing heat, black representing colder regions. However, newer models of thermal imaging cameras actually add color to the images they produce, in order to help users better identify distinct objects more clearly using colors such as orange, blue, yellow, red and purple. As a result thermal technology is easy to use, cost efficient & easily available across the globe.
Emerging technology in Defense sector
Tracing the origins of thermal imaging, it’s believed to have the beginnings in the Korean War, used for military purposes such as scouting and night combat missions. The use of thermal imaging has expanded far and wide, across different disciplines and for a variety of practical applications. Thermal imaging is a boon to the armed forces such as army, navy and airforce because of its day night working capability and ability to perform well in all weather conditions. They are also being employed in civil aviation for health monitoring of aircrafts.
Uncooled technology accounted for large share
There is a wide requirement of low cost lightweight thermal imaging sensors for both military and civilian applications. In Europe these requirements are met by systems called as large uncooled ferroelectric detector arrays offering accurate performance levels. These requirements were also met by cryogenically cooled systems which were highly expensive however they have more accuracy. The performance of uncooled technology & cooled technology are diverse due to environment factors.
Thermal imaging a boon in Covid-19 crisis
Thermal imaging systems measure surface skin temperature accurately without being physically close to the person being evaluated. Thermal imaging systems have been used by several countries during pandemic to reduce the spread of disease, by recognizing the temperature. The FDA has issued the Enforcement Policy for Telethermographic Systems during the Coronavirus Disease in 2019 as “Public Health Emergency” guidance to expand the availability of thermal imaging systems and mitigate thermometer shortages during the public health emergency. Thermal imaging systems measured inaccurate temperature results in case of measuring multiple people at the same time. The accuracy of these systems depends on careful set up and operation, as well as proper preparation of the person being evaluated.
Regional analysis
North America has various applications of thermal imaging technology, in manufacturing industries, construction industry, commercial buildings, defense sectors, medical & health care sectors. Followed by Europe & Asia pacific in various applications, as defense services, pest management, transportation & so on. To ensure safety many countries have application of thermal imaging in health care industry.
Key players
Key players in this segment include Suangsi Infrared, Axis communications, FLIR Commercial Systems, LYNRED, DJI Gmbh, Greentel, SONY Europe, Iluminar, Sesys Ltd, Thermoteknix Systems Ltd. The major manufacturing of Thermal imaging is enhanced by Europe.
The key strategy used is to produce the best quality of devices by reducing errors & making a cost-efficient model.
Historical & Forecast Period
This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Research Methodology
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Thermal Imaging market are as follows:
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.
| ATTRIBUTE | DETAILS |
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| Research Period | 2022-2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Year | 2022 |
| Unit | USD Million |
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Key questions answered in this report
