Global Thermal Camera Market Report and Forecast 2024-2032

Global Thermal Camera Market Outlook

The global thermal camera market size reached approximately USD 3.91 billion in 2023. The market is projected to grow at a CAGR of 7.8% between 2024 and 2032, reaching a value of around USD 7.70 billion by 2032.

Key Trends in the Market

Thermal cameras are a type of capturing device that can capture images using infrared radiation. The cameras are also known by different terms such as infrared or thermographic cameras. Unlike traditional cameras that capture visible light, thermal cameras detect the heat emitted by objects and convert it into a visible image that represents temperature variations.

• The increasing application of thermal imaging technology in the healthcare sector is one of the major global thermal camera market trends. This technology has proven to be effective in tracking physiological details such as skin temperature detection, and evaluation of human tumours.

• One of the predominant factors aiding in the global thermal camera market growth is the rising usage of the product in security applications. Its ability to capture an image solely from the heat radiating from a living being or an object makes it useful to provide a clear profile of the potential threat, regardless of the visibility.

• The increasing adoption of thermal imaging technology for the inspection and maintenance of three-phase electrical circuits is another significant factor aiding the global thermal camera market demand. Three-phase electrical circuits are connected through three wires and the current through each wire should be of equal magnitude. Thermal cameras are used to easily discern the temperature difference in three-phase circuits, which indicates irregularity.

Market Analysis

Based on type, the market is bifurcated into handheld and fixed/mounted. The global thermal camera market segmentation, on the basis of technology, includes cooled thermal cameras and uncooled thermal cameras. Based on application, the market can be categorised into building inspection, medical, defence military, and industrial process, among others. The major regional markets for thermal cameras are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

The comprehensive EMR report provides an in-depth assessment of the market based on Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global thermal camera market, covering their competitive landscape and the latest developments like mergers, acquisitions, investments, and expansion plans.

• Teledyne FLIR LLC 

• Axis Communications AB 

• InfraTec GmbH 

• Seek Thermal 

• Opgal Optronic Industries Ltd. 

• Jenoptik AG 

• Fluke Corporation 

• Mobotix AG 

• PCE Deutschland GmbH 

• Zhejiang ULIRVISION Technology Co., Ltd. (ULIRVISION)

• Others

Market Share by Type

According to the global thermal camera market analysis, handheld thermal cameras are expected to grow at a significant rate during the forecast period owing to their portability and their broad range of applications, including security, medical imaging, and predictive maintenance, among others. For security applications, compared to night vision cameras that need some light to work, thermal cameras can efficiently function regardless of lighting. This makes them useful for looking into crime scenes, carrying out rescue missions, and finding left-behind evidence. Moreover, these cameras give law enforcement an edge by helping them stay safe while surveying from a distance.

Market Share by Technology

Cooled thermal cameras are likely to account for a large portion of the global thermal camera market share in the coming years. Thermal imaging devices with cooled detectors can provide high image quality and a wide thermal isolation range. These cooled cameras are also sensitive to minor temperature changes. Additionally, they are more durable, allowing for the use of lenses with more elements without reducing image quality, which enhances magnification efficiency.

Competitive Landscape

Teledyne FLIR LLC is a company operating in the thermal imaging cameras and sensors sectors under its parent organisation, Teledyne Technologies Incorporated. It is one of the leading companies serving the government and defence, industrial, and commercial sectors, among others.

Axis Communications AB is a Swedish video surveillance device manufacturer operating under its parent organisation, Canon. Since its establishment in the year 1984, it has developed a wide portfolio of products, including dome cameras, thermal cameras, modular cameras, and panoramic cameras. In addition to network cameras, the company also provides other technologies such as body cameras, video management software, and video encoders, among others.

InfraTec GmbH is one of the major thermal imaging and sensor technology development companies in the world. The company was founded in the year 1991 and since then has developed a portfolio of a wide range of high-quality, innovative products and services in the field of infrared technology.

Other global thermal camera market players include Seek Thermal, Opgal Optronic Industries Ltd., Jenoptik AG, Fluke Corporation, Mobotix AG, PCE Deutschland GmbH, and Zhejiang ULIRVISION Technology Co., Ltd. (ULIRVISION), among others.

Key Highlights of the Report