Thu. Jul 9th, 2020

Global Thermal Imaging Market by Technology, Wavelength, Product, Application, Vertical & Region (2020 to 2025) – CAGR of 6.2% Expected During the Forecast Period – ResearchAndMarkets.com – Business Wire

Global Thermal Imaging Market by Technology, Wavelength, Product, Application, Vertical & Region (2020 to 2025) - CAGR of 6.2% Expected During the Forecast Period - ResearchAndMarkets.com  <font color="#6f6f6f">Business Wire</font>

DUBLIN–(BUSINESS WIRE)–The “Thermal Imaging Market by Technology (Uncooled, Cooled), Wavelength (LWIR, SWIR), Product (Cameras, Modules), Application (Security & Surveillance, Monitoring & Inspection), Vertical (Aerospace & Defense, Healthcare), Region – Global Forecast to 2025” report has been added to ResearchAndMarkets.com’s offering.

The global thermal imaging market is estimated to grow from USD 3.4 billion in 2020 to USD 4.6 billion by 2025; at a CAGR of 6.2%. Increasing adoption of thermal imaging in the automotive industry is one of the key factors fueling the growth of this market.

Among technology, the market for uncooled technology is expected to grow at the highest CAGR during the forecast period. Thermal products based on uncooled technology are widely used in different verticals such as aerospace & defense, industrial, commercial, residential, and others due to their ability to work in all weather conditions. Also, they cost low and are less subjected to restrictions compared to cooled thermal products. Moreover, they have long operation life as well as require less maintenance.

Market for SWIR wavelength is expected to grow at highest CAGR during forecast period.

Among wavelengths, the market for SWIR wavelength is expected to grow at the highest CAGR during the forecast period. The growth is attributed to its ability to serve numerous applications such as high-temperature thermography, moisture detection, spectroscopy, security and surveillance, semiconductor inspection, and scientific research.

Market for thermal modules is expected to grow at highest CAGR during forecast period.

Among thermal products, thermal modules are at the heart of systems used to deliver superior image quality. Moreover, they are available in small sizes, lightweight, and consume low power and produce the same image under different light conditions. Owing to this, the market for modules is expected to grow at the highest CAGR during the forecast period.

Monitoring and inspection application of thermal imaging is expected to grow at highest CAGR during forecast period.

Monitoring and inspection application of the thermal imaging is expected to grow at the highest CAGR during the forecast period. The growth is attributed to the rising adoption of thermal imaging cameras for a thermal audit of machines and equipment in the manufacturing industry. This helps to avoid operational shutdown and aid companies to save money by detecting the fault at the infancy stage. Moreover, the thermal audit does not cause any damage to the machines and equipment.

Healthcare and life sciences vertical is expected to grow at highest CAGR during forecast period.

The market for healthcare and life sciences vertical is expected to grow at the highest CAGR during the forecast period. The growth is attributed to the rising adoption of thermography due to their several benefits, such as instant detection of injuries or blockages with high definition image quality and low cost. Moreover, thermal imaging solutions are a reliable tool for medical assessment and diagnosis of various illnesses and diseases such as fever, headache, allergy, and different types of cancer in humans and animals.

Europe held second-largest share of thermal imaging market during 2019.

Europe is the second-largest market for thermal imaging, owing to the presence of lucrative automotive, healthcare, and industrial & manufacturing verticals in the region. Moreover, Europe is home to huge players in the thermal imaging market, such as Axis Communications AB (Lund, Sweden) and Thermoteknix Systems Ltd. (UK). They are considered as a trendsetter in this market as they develop innovative thermal imaging cameras and thermal scopes, used in security and surveillance, as well as monitoring and inspection application areas.

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights

4.1 Attractive Growth Opportunities in Thermal Imaging Market

4.2 Market, By Product Type and Application

4.3 Market, By Country

4.4 Market, By Region

5 Market Overview

5.1 Introduction

5.2 Market Dynamics

5.2.1 Drivers

5.2.1.1 Increasing Government Expenditure on Aerospace & Defense Sector is Boosting Growth of Market

5.2.1.2 Increasing Adoption of Thermal Imaging in Automotive Industry

5.2.1.3 Growing R&D Investments By Companies, Governments, and Capital Firms to Develop Innovative Thermal Imaging Solutions

5.2.2 Restraints

5.2.2.1 Export Restriction Imposed on Thermal Imaging Products

5.2.3 Opportunities

5.2.3.1 Increase in Adoption of Thermography for Infancy Stage Diagnosis in Healthcare Applications

5.2.3.2 Thermal Imaging use to Diagnose Defects in Building Structure Fueling Growth

5.2.4 Challenges

5.2.4.1 Thermal Cameras Do Not Work Through Glass and Water

5.2.4.2 Thermal Imaging Does Not Work for See-Through Wall Applications

5.3 Value Chain Analysis

6 Thermal Imaging Market, By Technology

6.1 Introduction

6.2 Cooled

6.3 Uncooled

7 Thermal Imaging Market, By Wavelength

7.1 Introduction

7.2 Short-Wave Infrared (SWIR)

7.3 Mid-Wave Infrared (MWIR)

7.4 Long-Wave Infrared (LWIR)

8 Thermal Imaging Market, By Product Type

8.1 Introduction

8.2 Thermal Cameras

8.3 Thermal Scopes

8.4 Thermal Modules

9 Thermal Imaging Market, By Application

9.1 Introduction

9.2 Security and Surveillance

9.2.1 Perimeter Security

9.2.2 Unmanned Aerial Vehicle (UAV)

9.2.3 Tracking

9.3 Monitoring and Inspection

9.3.1 Machine Condition Monitoring

9.3.2 Structural Health Monitoring

9.3.3 Quality Assessment

9.3.4 HVAC System Inspection

9.4 Detection and Measurement

9.4.1 Gas Detection

9.4.2 Fire/Flare Detection

9.4.3 Body Temperature Measurement

9.4.4 Level Measurement

9.4.5 Prototype Assessment

10 Thermal Imaging Market, By Vertical

10.1 Introduction

10.2 Industrial

10.3 Commercial

10.4 Residential

10.5 Aerospace & Defense

10.6 Automotive

10.7 Healthcare & Life Sciences

10.8 Oil & Gas

10.9 Food & Beverages

11 Geographic Analysis

11.1 Introduction

11.2 North America

11.3 Europe

11.4 APAC

11.5 RoW

12 Competitive Landscape

12.1 Introduction

12.2 Market Ranking Analysis of Players in Thermal Imaging Market, 2019

12.3 Competitive Scenario

12.3.1 Product Launches and Developments

12.3.2 Expansions

12.3.3 Partnerships, Agreements, and Contracts

12.3.4 Mergers & Acquisitions

12.4 Competitive Leadership Mapping

12.4.1 Visionary Leaders

12.4.2 Innovators

12.4.3 Dynamic Differentiators

12.4.4 Emerging Companies

13 Company Profiles

13.1 Introduction

13.2 Key Players

13.2.1 FLIR Systems, Inc.

13.2.2 Fluke Corporation

13.2.3 Leonardo S.p.A.

13.2.4 L3HARRIS TECHNOLOGIES, INC.

13.2.5 United Technologies

13.2.6 Axis Communications AB

13.2.7 BAE Systems

13.2.8 Opgal

13.2.9 Testo SE & Co. KGaA

13.2.10 Xenics

13.3 Right to Win

13.4 Other Key Players

13.4.1 Thermoteknix Systems Ltd.

13.4.2 Zhejiang Dali Technology Co., Ltd

13.4.3 Hgh Infrared Systems

13.4.4 Lynred

13.4.5 Zhejiang Ulirvision Technology Co., Ltd.

13.4.6 Tonbo Imaging

13.4.7 Seek Thermal

13.4.8 COX

13.4.9 Calumino

13.4.10 Terabee

13.4.11 C-Thermal

For more information about this report visit https://www.researchandmarkets.com/r/sh7o2

Source: businesswire.com