Thermal Camera Market to Reach Valuation of USD 8.8 Billion by 2028 – Rising Adoption in the Automotive Testing Applications Drives the Market

In terms of revenue, the Global Thermal Camera Market is expected to reach USD 8.8 Billion by 2028, growing at a CAGR (Compound Annual Growth Rate) of 6.10% from 2022 to 2028.

The increased demand from all major industries is driving the rapid growth of the global Thermal Camera market. Additionally, the market is expanding due to the immediate improvements in thermal imaging and growing applications in defense, homeland security, healthcare, and business. Blind spots can be removed, blind spots can be detected that conventional cameras might miss, and assisted driving systems can perform better thanks to thermal imaging technology. These cameras are perfect for challenging working environments, including electric utilities, petrochemical industries, and metallurgy, because they provide high-quality, lightning-fast photos.

Key Highlights from the Report

• Based on Types, the handheld segment dominates the Thermal Camera market with the maximum market share. It will continue its dominance in the forecast period due to its greater variety of applications, such as thermal imaging, predictive maintenance, medical imaging, and others.
• Among Technology, the cooled segment accounted for the highest CAGR in the forecast period. Because of its quick capture rate and wide thermal isolation band, thermal imaging systems with cooled detectors are projected to achieve rapid acceptance during the forecast period.
• In terms of region, North America holds the significant market share within the Thermal Camera market owing to the increase in the demand for thermal imaging technology in the manufacturing plus commercial sectors.

Market Dynamics

The automotive testing industry has a wide range of uses for Thermal Cameras, including computer architecture, vehicle temperature control, monitoring of brakes, tires, and engines, as well as testing of next-generation internal combustion and electric propulsion systems. Additionally, as thermal imaging technology becomes more portable, accessible, and advanced, the use of these cameras will start to rise along with the industry's expanding demands. New thermal imaging technologies and specifications are being developed as the automobile industry develops and grows. Major players continue to create products and solutions to satisfy these expanding industry needs. The main advantage of a Thermal Camera device is its ability to measure thousands of temperatures simultaneously, as opposed to thermocouples, spot guns, or resistance temperature detectors (RTDs), which can only record one temperature measurement at a time. Because thermal imaging is entirely non-contact and does not require the installation of sensors or expensive tools, processing times are shortened, expenses are reduced, and product launches are accelerated.

The oil and gas industry has many maintenance issues, such as valve failures and turbine, generator, and generator breakdowns, which can result in fugitive emissions and hazardous gas leaks into the atmosphere. It is challenging and time-consuming to locate invisible oil and gas leakages using traditional inspection techniques, especially when several components need to be inspected. In the oil and gas sector, Thermal Cameras are frequently employed as tools for preventive maintenance to identify leaks in reservoirs, pipelines, and installations. As a result, there is a lower risk of interruption due to regulatory bodies' actions, and they improve protection, competitiveness, and pollution reduction. These cameras make it possible for inspection teams and maintenance crews to find leaks more quickly and pinpoint their source, which results in quicker repairs, lower industrial gas emissions, and higher regulatory compliance. Many significant market participants in the oil and gas sector are introducing a wide range of these devices. These variables are anticipated to impact the industry in the upcoming years significantly.

The thermal imaging cameras industry has a promising future since significant industry players invest more money in R&D and emphasize adopting cutting-edge technologies. As surveillance technology advances and the security & surveillance sector grows, revenue growth in the Thermal Camera market is projected. Furthermore, the market for thermal imaging cameras will expand as thermal imaging technology is employed more frequently for perimeter security and as the cost of thermal imaging equipment decreases. In addition, the need for Thermal Cameras is anticipated to increase due to the growing use of thermal imaging in the automotive industry and favorable government initiatives and regulations.

Geographically, it is predicted that North America would hold the largest market share due to the expanding need for thermal imaging technology in the manufacturing and commercial sectors. Additionally, it is projected that the military and defense sector's increasing demand for these cameras for security and surveillance applications will positively impact the market's growth in North America. IoT and enhanced thermal imaging solutions are being adopted more gradually than initially anticipated, and semiconductor companies are moving in to help create other new imaging technologies. Developers and industry leaders in the area are concentrating on the technical possibilities of thermal technology, especially its ability to gather and analyze vast amounts of industrial data.

The Global Thermal Camera Market is Segmented as follows

• Types
  • Handheld
  • Fixed/ Mounted
• Technology
  • Uncooled
  • Cooled
• Products
  • Thermal Modules
  • Thermal Scopes
  • Thermal Camera
• Wavelengths
  • Mid-wave Infrared
  • Short-wave Infrared
  • Long-wave Infrared
• Applications
  • Security & Surveillance
  • Monitoring & Inspection
  • Detection & Measurement
  • Other Applications
• End Users
  • Manufacturing
  • Residential Oil & Gas
  • Automotive
  • Healthcare
  • Law Enforcement
  • Aerospace & Defense
  • Other End Users
• Region
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

List of the Key Players of the Global Thermal Camera Market is

Axis Communications AB (Sweden), FLIR Systems Inc. (U.S.), InfraTec GmbH Infrarotsensorik und Messtechnik (Germany), InView Technology Corporation (U.S.), IRCameras LLC (U.S.), Leonardo S.P.A. (U.S.), Lynred (France), New Imaging Technologies (France), Princeton Infrared Technologies, Inc. (U.S.), SATIR (Ireland), Seek Thermal (U.S.), Sierra-Olympic Systems Inc. (U.S.)

The Global Thermal Camera Market Scope can be Tabulated as below