Home / Technology & Media / Thermal Imaging Market By Type (Hardware, Software, Service), By Application (Surveillance and Security, Monitoring and Maintenance, Automobile, Veterinary, Radiology, Other Applications), By End User (Defense and Military, Industrial Sector, Commercial Sector, Residential Sector) - Growth, Share, Opportunities & Competitive Analysis, 2016 - 2023

Thermal Imaging Market By Type (Hardware, Software, Service), By Application (Surveillance and Security, Monitoring and Maintenance, Automobile, Veterinary, Radiology, Other Applications), By End User (Defense and Military, Industrial Sector, Commercial Sector, Residential Sector) - Growth, Share, Opportunities & Competitive Analysis, 2016 - 2023

Published: Jan 2017 | Report Code: 57768-01-17

Day-night working capability of thermal imaging camera makes it popular device in defense and military sector for performing security and surveillance applications. This is increasing the uptake of thermal imaging technology in this sector. Also, increasing spending by defense and military on modernization of armed forces is boosting growth of the thermal imaging market. Fall in price of thermal imaging cameras and broadening application area of thermal imaging technology is expected to fuel growth of the market. However, budgetary cuts by defense and military especially in developed countries is posing challenge to growth of the market.

Thermal Imaging Market

Report Scope

This report analyzes the global thermal imaging market in terms of type, application, end user, and geography. The global thermal imaging market has been segmented based on type into hardware, software and service. By application, the market is bifurcated into surveillance and security, monitoring and maintenance, automobile, veterinary, radiology, and other applications. On the basis of end user, the global thermal imaging market is segmented into defense and military, industrial sector, commercial sector, and residential sector. The global thermal imaging market covers major geographies such as North America, Europe, Asia Pacific, and Rest of World.

Thermal Imaging Market

The thermal imaging market is consolidated in nature, with top 5 players constituting over 70% share of the overall market revenue. High capital requirement and technological expertise make it difficult for new players to enter the global thermal imaging market. Acquisition and strategic partnership are major strategies followed by key vendors operating in the market. This helps them to enhance their market share and customer base. Some of the prominent players identified in the thermal imaging market are FLIR System, BAE Systems Inc., Axis Communications AB, Danaher Corporation, DRS Technologies Inc., Raytheon Company, L-3 Communications Holdings, Inc., Testo AG, Honeywell International, Inc., and Fluke Corporation.

1.1    Report Description

Purpose of the Report

The purpose of this strategic research study titled “Global Thermal imaging Market - Growth, Share, Opportunities, and Competitive Analysis, 2016 – 2023” is to offer industry investors, company executives, and industry participants with in-depth insights to enable them make informed strategic decisions related to the opportunities in the global thermal imaging market.

Target Audience

  • Industry Investors
  • Thermal Imaging Camera Providers
  • Service Provider
  • Government Agencies

USP and Key Offerings

The report titled “Global Thermal Imaging Market- Growth, Share, Opportunities, and Competitive Analysis, 2016 – 2023” offers strategic insights into the global thermal imaging market along with the market size and estimates for the duration 2014 to 2023. The said research study covers in-depth analysis of multiple market segments based on type, application and cross-sectional study across different geographies. In order to help strategic decision makers, the report also includes competitive profiling of the leading thermal imaging vendors, their SCOT (Strength, Challenges, Opportunities, and Threats) analysis, market positioning, and key developments. Other in-depth analysis provided in the report includes:

  • Current and future market trends to justify the forthcoming attractive markets within the thermal imaging market
  • Market fuelers, market impediments, and their impact on the market growth
  • In-depth competitive environment analysis
  • Ecosystem Analysis
  • SRC (Segment-Region-Country) Analysis

Overall, the research study provides a holistic view of the global thermal imaging market, offering market size and estimates for the period from 2014 to 2023, keeping in mind the above mentioned factors.

1. Preface
1.1. Report Scope and Description
1.2. Research Methodology
1.2.1. Phase I-Secondary Research
1.2.2. Phase II-Primary Research
1.2.3. Phase II-Expert Panel Review
1.2.4. Assumptions
1.2.5. Approach Adopted

2. Executive Summary
2.1. Global Thermal Imaging Market Snapshot

3. Global Thermal Imaging Market Analysis
3.1. Global Thermal Imaging Market Overview
3.2. Market Inclination Insights
3.2.1. Recent Trends
3.2.2. Future Outlook
3.3. Market Dynamics
3.3.1. Market Drivers
3.3.2. Market Challenges
3.4. Attractive Investment Proposition
3.5. Market Positioning of Key Industry Participants
3.6. Major Strategies Adopted

4. Global Thermal Imaging Market Revenue, By Type, 2014 – 2023 (US$ Mn)
4.1. Comparative Analysis
4.1.1. Hardware
4.1.2. Solution
4.1.3. Service

5. Global Thermal Imaging Market Revenue, By Application, 2014 – 2023 (US$ Mn)
5.1. Comparative Analysis
5.1.1. Surveillance and Security
5.1.2. Monitoring and Maintenance
5.1.3. Automobile
5.1.4. Veterinary
5.1.5. Radiology
5.1.6. Other Applications (Firefighting, Personal Vision etc.)

6. Global Thermal Imaging Market Revenue, By End User, 2014 – 2023 (US$ Mn)
6.1. Comparative Analysis
6.1.1. Defense and Military
6.1.2. Industrial Sector
6.1.3. Commercial Sector
6.1.4. Residential Sector

7. Global Thermal Imaging Market Revenue, By Geography, 2014 – 2023 (US$ Mn)
7.1. Comparative Analysis
7.1.1. North America
7.1.2. Europe
7.1.3. Asia Pacific
7.1.4. Rest of the World

8. North America Thermal Imaging Market Analysis, 2014 – 2023 (US$ Mn)
8.1. North America Thermal Imaging Market Revenue, By Type, 2014 – 2023 (US$ Mn)
8.1.1. Hardware
8.1.2. Solution
8.1.3. Service
8.2. North America Thermal Imaging Market Revenue, By Application, 2014 – 2023 (US$ Mn)
8.2.1. Surveillance and Security
8.2.2. Monitoring and Maintenance
8.2.3. Automobile
8.2.4. Veterinary
8.2.5. Radiology
8.2.6. Other Applications (Firefighting, Personal Vision etc.)
8.3. North America Thermal Imaging Market Revenue, By End User, 2014 – 2023 (US$ Mn)
8.3.1. Defense and Military
8.3.2. Industrial Sector
8.3.3. Commercial Sector
8.3.4. Residential Sector
8.4. North America Thermal Imaging Market Revenue, By Country, 2014 – 2023 (US$ Mn)
8.4.1. U.S.
8.4.1.1. U.S. Thermal Imaging Market Revenue, By Type, 2014 – 2023 (US$ Mn)
8.4.1.2. U.S. Thermal Imaging Market Revenue, By Application, 2014 – 2023 (US$ Mn)
8.4.1.3. U.S. Thermal Imaging Market Revenue, By End User, 2014 – 2023 (US$ Mn)
8.4.2. Canada
8.4.2.1. Canada Thermal Imaging Market Revenue, By Type, 2014 – 2023 (US$ Mn)
8.4.2.2. Canada Thermal Imaging Market Revenue, By Application, 2014 – 2023 (US$ Mn)
8.4.2.3. Canada Thermal Imaging Market Revenue, By End User, 2014 – 2023 (US$ Mn)

9. Europe Thermal Imaging Market Analysis, 2014 – 2023 (US$ Mn)
9.1. Europe Thermal Imaging Market Revenue, By Type, 2014 – 2023 (US$ Mn)
9.1.1. Hardware
9.1.2. Solution
9.1.3. Service
9.2. Europe Thermal Imaging Market Revenue, By Application, 2014 – 2023 (US$ Mn)
9.2.1. Surveillance and Security
9.2.2. Monitoring and Maintenance
9.2.3. Automobile
9.2.4. Veterinary
9.2.5. Radiology
9.2.6. Other Applications (Firefighting, Personal Vision etc.)
9.3. Europe Thermal Imaging Market Revenue, By End User, 2014 – 2023 (US$ Mn)
9.3.1. Defense and Military
9.3.2. Industrial Sector
9.3.3. Commercial Sector
9.3.4. Residential Sector
9.4. Europe Thermal Imaging Market Revenue, By Country, 2014 – 2023 (US$ Mn)
9.4.1. United Kingdom
9.4.1.1. United Kingdom Thermal Imaging Market Revenue, By Type, 2014 – 2023 (US$ Mn)
9.4.1.2. United Kingdom Thermal Imaging Market Revenue, By Application, 2014 – 2023 (US$ Mn)
9.4.1.3. United Kingdom Thermal Imaging Market Revenue, By End User, 2014 – 2023 (US$ Mn)
9.4.2. France
9.4.2.1. France Thermal Imaging Market Revenue, By Type, 2014 – 2023 (US$ Mn)
9.4.2.2. France Thermal Imaging Market Revenue, By Application, 2014 – 2023 (US$ Mn)
9.4.2.3. France Thermal Imaging Market Revenue, By End User, 2014 – 2023 (US$ Mn)
9.4.3. Germany
9.4.3.1. Germany Thermal Imaging Market Revenue, By Type, 2014 – 2023 (US$ Mn)
9.4.3.2. Germany Thermal Imaging Market Revenue, By Application, 2014 – 2023 (US$ Mn)
9.4.3.3. Germany Thermal Imaging Market Revenue, By End User, 2014 – 2023 (US$ Mn)
9.4.4. Rest of Europe
9.4.4.1. Rest of Europe Thermal Imaging Market Revenue, By Type, 2014 – 2023 (US$ Mn)
9.4.4.2. Rest of Europe Thermal Imaging Market Revenue, By Application, 2014 – 2023 (US$ Mn)
9.4.4.3. Rest of Europe Thermal Imaging Market Revenue, By End User, 2014 – 2023 (US$ Mn)

10. Asia Pacific Thermal Imaging Market Analysis, 2014 – 2023 (US$ Mn)
10.1. Asia Pacific Thermal Imaging Market Revenue, By Type, 2014 – 2023 (US$ Mn)
10.1.1. Hardware
10.1.2. Solution
10.1.3. Service
10.2. Asia Pacific Thermal Imaging Market Revenue, By Application, 2014 – 2023 (US$ Mn)
10.2.1. Surveillance and Security
10.2.2. Monitoring and Maintenance
10.2.3. Automobile
10.2.4. Veterinary
10.2.5. Radiology
10.2.6. Other Applications (Firefighting, Personal Vision etc.)
10.3. Asia Pacific Thermal Imaging Market Revenue, By End User, 2014 – 2023 (US$ Mn)
10.3.1. Defense and Military
10.3.2. Industrial Sector
10.3.3. Commercial Sector
10.3.4. Residential Sector
10.4. Asia Pacific Thermal Imaging Market Revenue, By Country, 2014 – 2023 (US$ Mn)
10.4.1. Japan
10.4.1.1. Japan Thermal Imaging Market Revenue, By Type, 2014 – 2023 (US$ Mn)
10.4.1.2. Japan Thermal Imaging Market Revenue, By Application, 2014 – 2023 (US$ Mn)
10.4.1.3. Japan Thermal Imaging Market Revenue, By End User, 2014 – 2023 (US$ Mn)
10.4.2. China
10.4.2.1. China Thermal Imaging Market Revenue, By Type, 2014 – 2023 (US$ Mn)
10.4.2.2. China Thermal Imaging Market Revenue, By Application, 2014 – 2023 (US$ Mn)
10.4.2.3. China Thermal Imaging Market Revenue, By End User, 2014 – 2023 (US$ Mn)
10.4.3. India
10.4.3.1. India Thermal Imaging Market Revenue, By Type, 2014 – 2023 (US$ Mn)
10.4.3.2. India Thermal Imaging Market Revenue, By Application, 2014 – 2023 (US$ Mn)
10.4.3.3. India Thermal Imaging Market Revenue, By End User, 2014 – 2023 (US$ Mn)
10.4.4. Rest of Asia Pacific
10.4.4.1. Rest of Asia Pacific Thermal Imaging Market Revenue, By Type, 2014 – 2023 (US$ Mn)
10.4.4.2. Rest of Asia Pacific Thermal Imaging Market Revenue, By Application, 2014 – 2023 (US$ Mn)
10.4.4.3. Rest of Asia Pacific Thermal Imaging Market Revenue, By End User, 2014 – 2023 (US$ Mn)

11. Rest of World Thermal Imaging Market Analysis, 2014 – 2023 (US$ Mn)
11.1. Rest of World Thermal Imaging Market Revenue, By Type, 2014 – 2023 (US$ Mn)
11.1.1. Hardware
11.1.2. Solution
11.1.3. Service
11.2. Rest of World Thermal Imaging Market Revenue, By Application, 2014 – 2023 (US$ Mn)
11.2.1. Surveillance and Security
11.2.2. Monitoring and Maintenance
11.2.3. Automobile
11.2.4. Veterinary
11.2.5. Radiology
11.2.6. Other Applications (Firefighting, Personal Vision etc.)
11.3. Rest of World Thermal Imaging Market Revenue, By End User, 2014 – 2023 (US$ Mn)
11.3.1. Defense and Military
11.3.2. Industrial Sector
11.3.3. Commercial Sector
11.3.4. Residential Sector
11.4. Rest of World Thermal Imaging Market Revenue, By Country, 2014 – 2023 (US$ Mn)
11.4.1. Latin America
11.4.1.1. Latin America Thermal Imaging Market Revenue, By Type, 2014 – 2023 (US$ Mn)
11.4.1.2. Latin America Thermal Imaging Market Revenue, By Application, 2014 – 2023 (US$ Mn)
11.4.1.3. Latin America Thermal Imaging Market Revenue, By End User, 2014 – 2023 (US$ Mn)
11.4.2. Middle East & Africa
11.4.2.1. Middle East & Africa Thermal Imaging Market Revenue, By Type, 2014 – 2023 (US$ Mn)
11.4.2.2. Middle East & Africa Thermal Imaging Market Revenue, By Application, 2014 – 2023 (US$ Mn)
11.4.2.3. Middle East & Africa Thermal Imaging Market Revenue, By End User, 2014 – 2023 (US$ Mn)

12. Company Profile
12.1. FLIR System
12.2. BAE Systems Inc.
12.3. Axis Communications AB
12.4. Danaher Corporation
12.5. DRS Technologies Inc.
12.6. Raytheon Company
12.7. L-3 Communications Holdings, Inc.
12.8. Testo AG
12.9. Honeywell International, Inc.
12.10. Fluke Corporation

List Of Table :

TABLE 1 Market Snapshot: Global Thermal Imaging Market
TABLE 2 Evolution of Digital Healthcare
TABLE 3 Impact Indicators
TABLE 4 Impact Analysis of Drivers and Restraints
TABLE 5 North America Thermal Imaging Market Revenue, By Type, 2014 - 2023 (US$ Mn)
TABLE 6 North America Thermal Imaging Market Revenue, By Application, 2014 - 2023 (US$ Mn)
TABLE 7 North America Thermal Imaging Market Revenue, By End User, 2014 - 2023 (US$ Mn)
TABLE 8 U.S. Thermal Imaging Market Revenue, By Type, 2014 - 2023 (US$ Mn)
TABLE 9 U.S. Thermal Imaging Market Revenue, By Application, 2014 - 2023 (US$ Mn)
TABLE 10 U.S. Thermal Imaging Market Revenue, By End User, 2014 - 2023 (US$ Mn)
TABLE 11 Canada Thermal Imaging Market Revenue, By Type, 2014 - 2023 (US$ Mn)
TABLE 12 Canada Thermal Imaging Market Revenue, By Application, 2014 - 2023 (US$ Mn)
TABLE 13 Canada Thermal Imaging Market Revenue, By End User, 2014 - 2023 (US$ Mn)
TABLE 14 Europe Thermal Imaging Market Revenue, By Type, 2014 - 2023 (US$ Mn)
TABLE 15 Europe Thermal Imaging Market Revenue, By Application, 2014 - 2023 (US$ Mn)
TABLE 16 Europe Thermal Imaging Market Revenue, By End User, 2014 - 2023 (US$ Mn)
TABLE 17 United Kingdom Thermal Imaging Market Revenue, By Type, 2014 - 2023 (US$ Mn)
TABLE 18 United Kingdom Thermal Imaging Market Revenue, By Application, 2014 - 2023 (US$ Mn)
TABLE 19 United Kingdom Thermal Imaging Market Revenue, By End User, 2014 - 2023 (US$ Mn)
TABLE 20 France Thermal Imaging Market Revenue, By Type, 2014 - 2023 (US$ Mn)
TABLE 21 France Thermal Imaging Market Revenue, By Application, 2014 - 2023 (US$ Mn)
TABLE 22 France Thermal Imaging Market Revenue, By End User, 2014 - 2023 (US$ Mn)
TABLE 23 Germany Thermal Imaging Market Revenue, By Type, 2014 - 2023 (US$ Mn)
TABLE 24 Germany Thermal Imaging Market Revenue, By Application, 2014 - 2023 (US$ Mn)
TABLE 25 Germany Thermal Imaging Market Revenue, By End User, 2014 - 2023 (US$ Mn)
TABLE 26 Rest of Europe Thermal Imaging Market Revenue, By Type, 2014 - 2023 (US$ Mn)
TABLE 27 Rest of Europe Thermal Imaging Market Revenue, By Application, 2014 - 2023 (US$ Mn)
TABLE 28 Rest of Europe Thermal Imaging Market Revenue, By End User, 2014 - 2023 (US$ Mn)
TABLE 29 Asia Pacific Thermal Imaging Market Revenue, By Type, 2014 - 2023 (US$ Mn)
TABLE 30 Asia Pacific Thermal Imaging Market Revenue, By Application, 2014 - 2023 (US$ Mn)
TABLE 31 Asia Pacific Thermal Imaging Market Revenue, By End User, 2014 - 2023 (US$ Mn)
TABLE 32 Japan Thermal Imaging Market Revenue, By Type, 2014 - 2023 (US$ Mn)
TABLE 33 Canada Thermal Imaging Market Revenue, By Application, 2014 - 2023 (US$ Mn)
TABLE 34 Japan Thermal Imaging Market Revenue, By End User, 2014 - 2023 (US$ Mn)
TABLE 35 China Thermal Imaging Market Revenue, By Type, 2014 - 2023 (US$ Mn)
TABLE 36 China Thermal Imaging Market Revenue, By Application, 2014 - 2023 (US$ Mn)
TABLE 37 China Thermal Imaging Market Revenue, By End User, 2014 - 2023 (US$ Mn)
TABLE 38 India Thermal Imaging Market Revenue, By Type, 2014 - 2023 (US$ Mn)
TABLE 39 India Thermal Imaging Market Revenue, By Application, 2014 - 2023 (US$ Mn)
TABLE 40 India Thermal Imaging Market Revenue, By End User, 2014 - 2023 (US$ Mn)
TABLE 41 Rest of Asia Pacific Thermal Imaging Market Revenue, By Type, 2014 - 2023 (US$ Mn)
TABLE 42 Rest of Asia Pacific Thermal Imaging Market Revenue, By Application, 2014 - 2023 (US$ Mn)
TABLE 43 Rest of Asia Pacific Thermal Imaging Market Revenue, By End User, 2014 - 2023 (US$ Mn)
TABLE 44 Rest of World Thermal Imaging Market Revenue, By Type, 2014 - 2023 (US$ Mn)
TABLE 45 Rest of World Thermal Imaging Market Revenue, By Application, 2014 - 2023 (US$ Mn)
TABLE 46 Rest of World Thermal Imaging Market Revenue, By End User, 2014 - 2023 (US$ Mn)
TABLE 47 Latin America Thermal Imaging Market Revenue, By Type, 2014 - 2023 (US$ Mn)
TABLE 48 Latin America Thermal Imaging Market Revenue, By Application, 2014 - 2023 (US$ Mn)
TABLE 49 Latin America Thermal Imaging Market Revenue, By End User, 2014 - 2023 (US$ Mn)
TABLE 50 Middle East & Africa Thermal Imaging Market Revenue, By Type, 2014 - 2023 (US$ Mn)
TABLE 51 Middle East & Africa Thermal Imaging Market Revenue, By Application, 2014 - 2023 (US$ Mn)
TABLE 52 Middle East & Africa Thermal Imaging Market Revenue, By End User, 2014 - 2023 (US$ Mn) 

List Of Figure :

FIG. 1 Global Thermal Imaging: Market Segmentation
FIG. 2 Global Thermal Imaging Market: Research Methodology
FIG. 3 Top-Down and Bottom Up Approach
FIG. 4 Global Thermal Imaging Market, By Type, 2015 (US$ Mn)
FIG. 5 Global Thermal Imaging Market, By Application, 2015 (US$ Mn)
FIG. 6 Global Thermal Imaging Market, By End User, 2015 (US$ Mn)
FIG. 7 Global Thermal Imaging Market, By Geography, 2015 (US$ Mn)
FIG. 8 Global Thermal Imaging Market Revenue and Growth, 2014 - 2023, (US$ Mn and % Y-o-Y)
FIG. 9 Market Positioning of Key Industry Participants, 2015
FIG. 10 Global Thermal Imaging Market Revenue Contribution, By Type, 2015 & 20231(Value %)
FIG. 12 Global Thermal Imaging Market Revenue and Growth for Hardware, 2014 - 2023, (US$ Mn)
FIG. 13 Global Thermal Imaging Market Revenue and Growth for Software, 2014 - 2023, (US$ Mn)
FIG. 14 Global Thermal Imaging Market Revenue and Growth for Service, 2014 - 2023, (US$ Mn)
FIG. 15 Global Thermal Imaging Market Revenue Contribution, By Application, 2015 & 2023 (Value %)
FIG. 16 Global Thermal Imaging Market Revenue and Growth for Surveillance and Security, 2014 - 2023, (US$ Mn)
FIG. 17 Global Thermal Imaging Market Revenue and Growth for Monitoring and Maintenance, 2014 - 2023, (US$ Mn)
FIG. 18 Global Thermal Imaging Market Revenue and Growth for Automobile, 2014 - 2023, (US$ Mn)
FIG. 19 Global Thermal Imaging Market Revenue and Growth for Veterinary, 2014 - 2023, (US$ Mn)
FIG. 20 Global Thermal Imaging Market Revenue and Growth for Radiology, 2014 - 2023, (US$ Mn)
FIG. 21 Global Thermal Imaging Market Revenue and Growth for Other Tools, 2014 - 2023, (US$ Mn)
FIG. 22 Global Thermal Imaging Market Revenue Contribution, by End User, 2015 & 2023 (Value %)
FIG. 23 Global Thermal Imaging Market Revenue and Growth for Defense and Military, 2014 - 2023, (US$ Mn)
FIG. 24 Global Thermal Imaging Market Revenue and Growth for Industrial Sector, 2014 - 2023, (US$ Mn)
FIG. 25 Global Thermal Imaging Market Revenue and Growth for Commercial Sector, 2014 - 2023, (US$ Mn)
FIG. 26 Global Thermal Imaging Market Revenue and Growth for Residential Sector, 2014 - 2023, (US$ Mn)
FIG. 27 North America Thermal Imaging Market Revenue and Growth, 2014 - 2023, (US$ Mn) (Y-o-Y %)
FIG. 28 Europe Thermal Imaging Market Revenue and Growth, 2014 - 2023, (US$ Mn) (Y-o-Y %)
FIG. 29 Asia Pacific Thermal Imaging Market Revenue and Growth, 2014 - 2023, (US$ Mn) (Y-o-Y %)
FIG. 30 RoW Thermal Imaging Market Revenue and Growth, 2014– 2023, (US$ Mn) (Y-o-Y %)

On the basis of application, the global thermal imaging market is categorized into following sub-segments:

  • Surveillance and Security
  • Monitoring and Maintenance
  • Automobile
  • Veterinary
  • Radiology
  • Other Applications (Firefighting, Personal Vision etc.)

The contribution of aforementioned software sub-segments to the global thermal imaging market in 2015 and 2023 is as shown in the figure below

Thermal Imaging Market

As of 2015, surveillance and security was the dominant segment among all types of application in the global thermal imaging market, accounting for over 25% share of the overall market revenue. Additionally, the segment is expected to continue its dominance by 2023. This is mainly attributed to growing concern of governments of major countries to enhance homeland security and surveillance by deploying advanced thermal imaging devices. Monitoring and maintenance is the second largest segment, in terms of revenue, owing to growing usage of thermal imaging devices for installation purpose and process monitoring. Additionally, increasing adoption of thermal imaging technology in other emerging applications such as traffic monitoring, personal vision, firefighting and veterinary etc. is expected to boost the growth of the thermal imaging market worldwide.

On the basis of end user, the global thermal imaging market is categorized into following segments:

  • Defense and Military
  • Industrial Sector
  • Commercial Sector
  • Residential Sector

The contribution of these variants to the global thermal imaging market in 2015 is as shown below:

Thermal Imaging Market

As of 2015, the global thermal imaging market was dominated by defense and military end user segment. The segment accounted for over 40% of the global thermal imaging market revenue in the same year. With ongoing modernization of exiting weapons in the sector demand for enhanced thermal imaging devices is increasing, this, in turn, is driving the growth of the market in this sector. Commercial sector is the second-largest end user segment in terms of revenue generation. Additionally, the market in this sector is expected to expand at the highest CAGR of over 10% throughout the forecast period. Thermal imaging devices are increasingly finding their applications in major industry verticals commercial sectors such as automobile, healthcare, and commercial property inspections. Also, thermal imaging devices gaining traction in building diagnosis applications to avoid premature failure of commercial flat roofs. This, is expected to fuel growth of the thermal imaging market in commercial sector.

On the basis of geography, the global thermal imaging market is segmented into following regions and countries.

  • North America
    • U.S.
    • Canada
  • Europe
    • United Kingdom
    • France
    • Germany
    • Rest of Europe
  • Asia Pacific
    • Japan
    • China
    • India
    • Rest of Asia Pacific
  • Rest of the World
    • Latin America
    • Middle East and Africa

The contribution of these regions (North America, Europe, Asia Pacific, and RoW) to the global thermal imaging market in 2015 is as shown in the figure below

Thermal Imaging Market

By geography, North America dominated the global thermal imaging market, in terms of revenue contribution in 2015. The region accounted for more than 30% market share in the same year. Additionally, North America is expected to remain dominant regional market over the forecast period. This is mainly attributed to The increasing adoption of advanced thermal imaging cameras and scopes that are used to capture clear images in dark environment has led to the growth of thermal imaging market in the region. However, the thermal imaging market in Asia Pacific is projected to expand at a significant CAGR between 2016 and 2023. Major growth is coming from emerging Asian countries such as China and Japan, propelling market growth. Additionally, growing spending on homeland security and border surveillance is increasing the uptake of thermal imaging products in these coutries.

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