Thermal Imaging Market To Reach USD 4.99 Billion By 2027

New York, NY -- (SBWire) -- 02/11/2021 --The increasing espousal of smart computing in the information and communication sector has brought forward astounding alterations in the way an image is captured and perceived. Thermal imaging is the technique to technique to convert radiation into visible pictures with the use of sensors. It is capable of producing high-quality images and videos in fog, smoke, and dust. A report published by Reports and Data in August 2020 revealed that the global thermal imaging market valued at USD 3.21 billion in 2019 and is projected to grow at an average annual rate of 6.0%. It will register a total of USD 4.99 Billion in 2027.

Companies considered and profiled in this market study:

Fluke Corporation, United Technologies, FLIR Systems, Inc., Leonardo S.p.A, Axis Communications AB, L3HARRIS Technologies, Inc., Axis Communications AB, Opgal, Xenics, and BAE Systems, among others.

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Market Drivers

The advancement in technology and the development of highly equipped smart thermal imaging systems is the main driving force to the market. With increasing research facilities, the market has seen immense changes and has certainly lowered the prices of thermal cameras, making it easy for consumers to invest in new devices. Thermal imaging is being widely adopted in smartphones, automotive, and CCTVs for surveillance purposes. The military in many nations has started using thermal imaging to record high-quality reels for defense on international borders creating new opportunities for the growth of thermal cameras. The non-invasive, low maintenance technology combined with the capability to record 24x7 at night in complete darkness makes it the best investment for high range applications.

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)

Thermal Cameras
Thermal Scopes
Thermal Modules

Application Outlook (Revenue, USD Billion; 2017-2027)

Security and Surveillance

Unmanned Aerial Vehicle (UAV)
Perimeter Security
Tracking

Monitoring and Inspection

Structural Health Monitoring
HVAC System Inspection
Machine Condition Monitoring
Quality Assessment
Detection and Measurement

Fire/Flare Detection
Level Measurement
Gas Detection
Body Temperature Measurement
Prototype Assessment

Industry Vertical Outlook (Revenue, USD Billion; 2017-2027)

Residential
Commercial
Industrial
Automotive
Aerospace and Defense
Oil and Gas
Healthcare and Life science
Food and Beverage

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Regional Analysis:

North America was the leader in the thermal imaging market and is expected to hold its position due to the rise in technological advancements and increasing investment towards better surveillance in the transportation and industrial sector. The increasing investment in military and defense in China and India will likely influence the growth in Asia Pacific. The development of self-driving cars aided with advanced driving assistance is also creating a need for advanced thermal imaging, further driving the demand.

Table of Content:

Chapter 1. Market Synopsis

1.1. Market Definition
1.2. Research Scope & Premise
1.3. Methodology
1.4. Market Estimation Technique

Chapter 2. Executive Summary

2.1. Summary Snapshot, 2019-2027

Chapter 3. Indicative Metrics

Chapter 4. Thermal Imaging Market Segmentation & Impact Analysis

4.1. Thermal Imaging Market Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers analysis
4.2.2.1. Availability of cost-effective devices
4.2.2.2. Diverse Applications
4.2.3. Market restraints analysis
4.2.3.1. Reduced defense budget in emerging nations
4.3. Technological Insights
4.4. Regulatory Framework
4.5. ETOP Analysis
4.6. Porter's Five Forces Analysis
4.7. Competitive Metric Space Analysis
4.8. Price trend Analysis
4.9. Customer Mapping
4.10. Covid-19 Impact Analysis
4.11. Global Recession Influence

Chapter 5. Thermal Imaging Market By Product Type Insights & Trends

5.1. Product Type Dynamics & Market Share, 2019 & 2027
5.2. Thermal Cameras
5.2.1. Market estimates and forecast, 2017 – 2027 (USD Billion)
5.2.2. Market estimates and forecast, By Region, 2017 – 2027 (USD Billion)
Continue…

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