Thermal imaging is a technique which uses infrared radiation and thermal energy to collect information about different items and formulates their images, even in low visibility surroundings. It is a technology that has developed an extensive array of uses over the years. Particularly, it is a kind of night-vision technology, having the competency to function in the complete absence of any light (as it is not dependent on visible light), and can even work smoothly in smoky, foggy, smoggy, and hazy weather.
A thermal camera is a non-contact device that senses infrared energy and transforms it into a visual image. The mounting demand for cutting-edge thermal imaging solutions from several end-use industries such as military and defense, manufacturing, healthcare, and life science is propelling the revenue value of the global thermal camera market. Tracing the roots of thermal imaging, it is said to have its early development in the Korean War, and was used for army activities like field exploration and night battle operations. Ever since then, its applications have increased in various areas, across numerous industries and for different real-world applications. Initially used for surveillance and army jobs, thermal cameras are currently being used for fire fighting, building check-ups (moisture, roofing, insulation, etc.), autonomous vehicles & automatic braking, industrial scrutiny, skin temperature screening, scientific researches, and many others.
Newest Insights in the Thermal Camera Market
As per a report by Research Dive, the global thermal camera market is expected to grow from $6,200 million in 2021 to $11,332.2 million by 2030. The North America thermal camera market is expected to perceive dominant and speedy growth in the years to come. This is because the region has a gigantic demand for thermal cameras owing to government's growing investments in the military & defence activities. Numerous leading industry players in this region are concentrating their efforts on offering advanced thermal cameras to cater the bulging demand, which is projected to contribute to the regional market growth in the coming years.
How are Market Players Responding to the Rising Demand for Thermal Cameras?
Market players are greatly investing in innovative product launches to cater the rising demand for thermal cameras. Some of the leading players of the thermal camera market are L3HARRIS TECHNOLOGIES, FLIR Systems, Fluke Corporation, Leonardo, United Technologies, Axis Communications, Opgal, Testo, Thales group, and others. These players are focused on planning and devising tactics such as mergers and acquisitions, collaborations, novel advances, and partnerships to reach a foremost position in the global market.
- In March 2020, Staqu, a start-up based in Gurgaon, India, launched a novel AI-powered thermal camera under its video analytics platform - JARVIS, to detect and further inspect suspected carriers of the COVID-19 virus during the pandemic.
- In June 2022, FLIR Systems, a global frontrunner in the designing, manufacture, and marketing of thermal imaging infrared cameras, launched a new E52 Handheld Thermal Imaging Camera. The novel E52 is equipped with a professional quality thermal resolution and offers on-camera routing ability for more effective inspections.
- In January 2021, Infrared Cameras Incorporated (ICI), a leading company involved in designing and manufacturing infrared cameras and systems, launched APEX 200, a novel IoT Thermal Camera for aiding industrial and power generation services to safeguard against equipment failure.
COVID-19 Impact on the Thermal Camera Market
The abrupt rise of the coronavirus pandemic in 2020 has partially impacted the global thermal camera market. During the lockdown period, interruptions in the supply chains and shutdown of manufacturing units were witnessed by several thermal camera making companies, thus resulting in a delay in the production of thermal cameras. All these factors hindered the thermal camera market growth during the pandemic.
However, as thermal cameras can detect temperature from a distance, their demand surged significantly during the pandemic, which was a ray of hope for the market growth. In addition, with the relaxation of the pandemic since the end of 2021, many thermal camera making companies have resumed their normal functioning, which is expected to propel the growth of the thermal camera market in the upcoming years.