Thermal Camera Market is expected to be valued at USD 7,103.5 million in 2022 and is poised to grow at a significant CAGR of 6.9% over 2022–2028. A thermal camera is non-contact equipment that recognizes infrared energy (heat) and converts it into a photographic image. Thermal cameras collect IR energy and convert it to analog or digital video outputs to generate images. Thermal imagers use heat instead of visible light to produce images. Thermal cameras, which were formerly developed for surveillance and military operations, are now extensively used for building inspection (insulation, moisture, insulation, roofing, and others), firefighting, autonomous vehicles & automatic braking, skin temperature screening, industrial inspections, scientific research, and other applications. With an increasing demand for thermal cameras among various sectors is primarily driving the market for a thermal camera. Additionally, the automotive and healthcare sectors are also propelling the global thermal camera market demand. Furthermore, the growing demand for advanced thermal imaging solutions in military & defense sectors also supports market growth. The thermal camera market growth is constrained by export restrictions on thermal imaging cameras imposed by the U.S. Government. Under these restrictions, manufacturers of thermal cameras will be banned from selling their products to buyers in the U.S. or other regions out of the country. During the forecast period, increased R&D activities by prominent market players and technological advancements in thermal cameras are anticipated to drive revenue growth in the thermal camera market. As per the regional analysis of the market, the Asia-Pacific thermal camera market share is expected to grow during the forecasted period owing to increasing military expenditure to revolutionize the country’s military armaments. For instance, currently, China is also leading in making more advances to military sectors.
Recent Market Developments:
In April 2020, FLIR launched a smart thermal sensor solution for industrial monitoring and elevated skin temperature screening.