PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1606407
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1606407
The market for Infrared Thermography was projected to reach USD 451.5 million in 2023 and expand at a CAGR of 5.80% between 2024 - 2032.
Using thermal imaging techniques, infrared thermography is a technique that evaluates an object's heat emission and visualizes it as a temperature distribution curve. Since infrared radiation is emitted by everything warmer than absolute zero, thermography can easily detect and display infrared wavelengths even in ambient temperature conditions. Around the world, infrared thermography is used for a number of vital purposes, such as moisture inspection, non-destructive testing, machine monitoring, leak detection in construction, and imaging for airport security. The primary goal of infrared thermography is to locate anomalous heat patterns inside the apparatus.
Infrared Thermography Market- Market Dynamics
Rapid Use of Infrared Thermography Technology in Security and Border Surveillance
One of the major factors driving the market is the rate at which infrared thermography technology is being adopted for security and surveillance reasons in the defense and military sectors. As international tensions and safety concerns rise, there is a growing need for improved surveillance systems, which leads to a rise in the use of infrared thermography. This technology can take clear pictures in any weather condition and doesn't require light to function, even at night when the finest details are visible. As a result, it is ideal for tasks like search and rescue operations and border surveillance. The Indian Army intended to buy more than 22,000 thermal imaging sights and night infrared vision equipment for infantry assault rifles in January 2020. The goal of these purchases was to lower the number of casualties during cross-border shooting or anti-terror operations. Aside from that, the use of thermal imaging cameras and infrared thermography is being driven by the rise in cross-border smuggling and other illicit activities. The market will, therefore, develop as a result of the growing need for surveillance systems for border surveillance.
Infrared Thermography Market- Key Insights
According to our research analyst's analysis, the global market is projected to grow at a CAGR of approximately 5.80% during the forecast period of 2024-2032.
The thermal scope category was predicted to hold the largest share in 2023 based on type.
The industrial category was predicted to hold the largest market share in 2023 based on building type.
In 2023, the fire/flare detection category emerged as the top segment based on application.
North America held the largest revenue share by region in 2023.
The Global Infrared Thermography Market is segmented into Type, Solution type, Building type, Application, and Region.
Based on the type, the infrared thermography market is divided into segments for Thermal Cameras, Thermal Modules, and Thermal Scopes. The thermal scopes segment is expected to expand at a CAGR of more than 9.50% by 2032. For a variety of uses, including surveillance, security, and hunting, thermally outfitted scopes offer improved target detection capabilities. Thermal imaging scopes enhance situational awareness through the identification of heat signatures in poorly light or unfavorable conditions. The military and the defense sector are using thermal imaging scopes more and more for target identification, monitoring, and surveillance. These scopes are essential for enhancing operations in bad weather and at night. As a result of continuous technical improvements, thermal imaging scopes are now more affordable and perform better, which opens them to new sectors and applications.
In terms of application, the infrared thermography market is segmented into Energy Auditing, Fire/Flare Detection, Structural Analysis, Electrical & HVAC Systems Inspection, Insulation Inspection, and Others. The fire/flare detection segment led the global market in 2023 with a share of over 25%. With the aid of infrared thermography equipment, temperature anomalies, and hotspots-which are frequently precursors to fires or flare-ups in a range of industrial settings, such as refineries and petrochemical plants-can be quickly identified. The non-contact and real-time characteristics of this technology make it a valuable tool in key infrastructures, industrial sites, and the energy industry, where fire and flare occurrences can cause substantial damage and loss. The demand for reliable and accurate infrared thermography systems for fire and flare detection is rising due to security regulations and increased public awareness.
Infrared Thermography Market- Geographical Insights
The Infrared Thermography market is widely distributed geographically in North America, Latin America, Europe, Asia Pacific, the Middle East and Africa. These areas are further separated based on the countries that provide business.
North America leads the infrared thermography market due to the region's increasing demand for electrical appliances and smart building monitoring. Moreover, the primary driving force behind the market's growth is the manufacturers' increasing inclination towards research and development in the creation of infrared thermography. The region's growth has also been aided by manufacturers' greater emphasis on product integration and the DSLR-like image quality offered by a variety of imaging cameras.
Throughout the forecast period, APAC is anticipated to develop at the quickest rate in the infrared thermography market. The primary driver of the region's market expansion is the increasing use of IR monitoring systems for chemical facilities and machine conditioning throughout the region. Additionally, one of the main reasons influencing the growth of the APAC market is the region's expanding transportation capacity in the consumer goods and healthcare inventories sectors. Due to its high concentration of optical imaging device calibration factories throughout the area and its expanding manufacturing capabilities, China commands the greatest share of the market.
Major market players in the infrared thermography market, such as Allied Vision Technologies GmbH, Teledyne FLIR LLC, Fluke Corporation, JENOPTIK AG, SKF, and Raytheon Technologies Corporation, among others, concentrate on employing various expansion tactics in order to fortify their products and broaden their customer base. Customer retention, partnerships and collaborations, mergers and acquisitions, and new product development and launch are some of these methods. To bring novel and cutting-edge technology solutions to the market, these firms also make research and development investments.
May 2023: Xenics Nevada introduced the Lynx R and XSL R series and increased the range of their linear SWIR cameras. Demanding uses for the company's Linear SWIR cameras include spectroscopy, optical fiber monitoring, LiDAR sensing, machine vision, semiconductor inspection, food sorting, and spectral-domain optical coherence tomography.
February 2023: Launching the Lynx R and XSL R series, Xenics NV (Belgium) is growing the range of its linear SWIR cameras. Demanding applications like food sorting, machine vision, spectroscopy, optical fiber monitoring, semiconductor inspection, LIDAR sensing, and spectral-domain optical coherence tomography can all benefit from the availability of linear SWIR cameras.
November 2022: The wireless FLIR ONE Edge Pro thermal-visible camera for mobile devices was introduced by Teledyne FLIR. For maximum thermal inspection freedom, the redesigned FLIR ONE Edge Pro does not require a physical connection to its accompanying mobile device, unlike prior models.