The Global Thermal Imaging Market is forecast to reach USD 4.99 Billion by 2027, according to a new report by Reports and Data. The growth of thermal imaging in various end-use industries is driving market demand. An increase in terrorist activities has impacted both government and non-government revenue to a great extent. Increasing terrorism, instability, geopolitical tension, and cross border terrorism is driving market demand. The investment in the defense system for the modernization of military equipment is also encouraging the growth of the market. Thermal imaging helps armed forces to protect borders during nightfall and extreme weather.
The growth of the market also depends on the advancement of medical technologies. Several growth opportunities and adoption of the latest advanced technologies in the sector is providing ample growth opportunity for the market. Several areas, such as digital research and construction management, involve the usage of thermal imaging technologies. It is crucial for construction planners to study energy losses, moisture inspections, and building envelope inspection.
High level of investment in construction development coupled with the growing demand for professional surveillance and the rising need for security applications in public and private sectors are propelling the market demand. However, restrictions in export and additional details required for longwave infrared cameras are hampering the market demand.
The Asia Pacific’s market is growing due to the rise in the adoption of the automotive sector and the increase in population. The surge in population is creating a need for high-quality and enhanced transportation in the region. Automotive manufacturers are improving designs and integrating advanced technology such as Light Detection and Ranging (LiDAR) for better driving assistance.
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The COVID-19 Impact:
The Coronavirus pandemic has propelled the demand for the market from the transportation and healthcare sectors. Various market players of developing nations are integrating artificial intelligence to enhance their protection level. Governments across the globe are implementing stringent regulations to locate high-risk zones, or those asked to be in-home quarantine. Smartphone apps integrated with geotagging features have been launched by several governments to ensure physical distancing. The market will witness an increased demand as there more advanced technologies are being adopted.
Key participants include
FLIR Systems, Inc.
Axis Communications AB
L3HARRIS Technologies, Inc.
Axis Communications AB
For the purpose of this report, Reports and Data have segmented the Global Thermal Imaging Market on the basis of product type, application, industry vertical, and region:
Product Type Outlook (Revenue, USD Billion; 2017-2027)
Application Outlook (Revenue, USD Billion; 2017-2027)
Security and Surveillance
Unmanned Aerial Vehicle (UAV)
Monitoring and Inspection
Structural Health Monitoring
HVAC System Inspection
Machine Condition Monitoring
Detection and Measurement
Body Temperature Measurement
Industry Vertical Outlook (Revenue, USD Billion; 2017-2027)
Aerospace and Defense
Oil and Gas
Healthcare and Life science
Food and Beverage
Regional Outlook (Revenue, USD Billion; 2017-2027)
Rest of Europe
Rest of APAC
Rest of LATAM
Middle East & Africa
Rest of MEA
To identify the key trends in the industry, click on the link below:
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