Report Scope & Overview:

Thermal Imaging Market Size was valued at USD 3.74 billion in 2022, and is expected to reach USD 5.69 billion by 2030, and grow at a CAGR of 5.4% over the forecast period 2023-2030.

The process of improving the appearance and clarity of objects even in the dark by identifying an object or image using infrared light is called thermal imaging. The emergence of thermal images has helped companies reduce their downtime. Companies will no longer be required to close their applications even during thermal audit. By enabling the early detection of faulty products, thermal imaging helps businesses save a significant amount of money. In addition, there is no physical touch involved in the process, making it fully non-invasive. As a result, the electronics subjected to thermal assessments sustain no harm.

Thermal Imaging Market Revenue Graph

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  • Increasing spending on R&D by businesses, governments, and investment organizations to create innovative thermal imaging systems.

  • Government spending on aerospace and military is growing, which is driving the thermal imaging industry.


  • Export restriction obligatory on thermal imaging products.


  • Thermal imaging is used to identify structural flaws in buildings.

  • Increased use of thermography in healthcare applications for diagnosis of the infantile stage.


  • For applications involving see-through walls, thermal imaging is ineffective.

  • Glass and water do not impede the operation of thermal cameras.


The COVID-19 outbreak and subsequent expansion have slowed global economic growth. It has negatively affected a number of industries, including the thermal imaging industry. Companies plan and work to keep their businesses running. Production and distribution of products are important challenges that companies face. Several countries around the world have set up or expanded lockdown to contain the spread of the epidemic, which has led to disruptions in the supply of thermal imaging market.

Based on Type, the thermal imaging market is segmented into Thermal Modules, Thermal Cameras and Thermal Scopes. The thermal camera segment holds the largest share of the thermal imaginary market and is expected to continue this growth during the forecast period. A number of factors, such as the high-quality electronic imagery produced in a short period of time and the availability of different types (hand-held, mounted, and independent) and various small and nano sizes, contribute to this dominance.

Based on Application, the thermal imaging market is segmented into Monitoring & Inspection, Security & Surveillance and Detection & Measurement.

Based on applications, the hot imaging market is divided into security and surveillance, monitoring and evaluation, detection and evaluation. At the time of forecasting, the security and surveillance category had the biggest market share for thermal imaging. The need for cutting-edge thermal imaging systems for security and surveillance applications is fast rising as a result of urban migration. Growing conflicts and acts of terrorism between countries also increase the need for well-equipped systems to monitor the country's borders from invading enemies and to protect the country from them.



  • Handheld Thermal Cameras

  • Fixed Thermal Cameras


  • Thermal Modules

  • Thermal Cameras

  • Thermal Scopes


  • Cooled

  • Uncooled


  • Monitoring & Inspection

  • Security & Surveillance

  • Detection & Measurement 


  • Industrial

  • Residential

  • Automotive

  • Oil & Gas

  • Commercial

  • Aerospace & Defence

  • Healthcare & Life Sciences

  • Food & Beverages

Thermal Imaging Market Segment Pie Chart

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North America currently maintains the biggest market share for thermal imaging among all regions, and is anticipated to keep expanding over the projected period. Major producers of thermal imaging equipment, including thermal cameras, scopes, and modules, are based in the area. The US has played a major role in this region and accounted for about 90% of the total thermal imaging market in North America. The presence of more manufacturers and distributors, decreased thermal imaging component prices, and greater government investment in the aerospace and military industries are all contributing factors to the region's thermal imaging market growth.


  • North America

    • USA

    • Canada

    • Mexico

  • Europe

    • Germany

    • UK

    • France

    • Italy

    • Spain

    • The Netherlands

    • Rest of Europe

  • Asia-Pacific

    • Japan

    • south Korea

    • China

    • India

    • Australia

    • Rest of Asia-Pacific

  • The Middle East & Africa

    • Israel

    • UAE

    • South Africa

    • Rest of Middle East & Africa

  • Latin America

    • Brazil

    • Argentina

    • Rest of Latin America


The key players in the thermal imaging market are Fluke Corporation, L3HARRIS TECHNOLOGIES, Axis Communications, Opgal, FLIR Systems, Leonardo, United Technologies, BAE Systems, Xenics and Thermoteknix Systems & Other Players

Thermal Imaging Market Report Scope
Report Attributes Details
Market Size in 2022 US$ 3.74 Billion
Market Size by 2030 US$ 5.69 Billion
CAGR CAGR of 24.5% From 2023 to 2030
Base Year 2022
Forecast Period 2023-2030
Historical Data 2020-2021
Report Scope & Coverage Market Size, Segments Analysis, Competitive  Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook
Key Segments • By Product Type (Handheld Thermal Cameras, Fixed Thermal Cameras)
• By Type (Thermal Modules, Thermal Cameras, Thermal Scopes)
• By Technology (Cooled, Uncooled)
• By Application (Monitoring & Inspection, Security & Surveillance, Detection & Measurement)
• By Industry Vertical (Industrial, Residential, Automotive, Oil & Gas, Commercial, Aerospace & Defence, Healthcare & Life Sciences, Food & Beverages)
Regional Analysis/Coverage North America (USA, Canada, Mexico), Europe
(Germany, UK, France, Italy, Spain, Netherlands,
Rest of Europe), Asia-Pacific (Japan, South Korea,
China, India, Australia, Rest of Asia-Pacific), The
Middle East & Africa (Israel, UAE, South Africa,
Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America)
Company Profiles The key players in the thermal imaging market are Fluke Corporation, L3HARRIS TECHNOLOGIES, Axis Communications, Opgal, FLIR Systems, Leonardo, United Technologies, BAE Systems, Xenics and Thermoteknix Systems.
Key Drivers • Increasing spending on R&D by businesses, governments, and investment organizations to create innovative thermal imaging systems.
RESTRAINTS • Export restriction obligatory on thermal imaging products.

Frequently Asked Questions

The Thermal Imaging Market size was valued at 3.74 billion in 2022 at a CAGR of 5.4%.

The market value is expected to reach USD 5.69 billion by 2030.

The market has been segmented with respect to type, product type, technology, industry vertical and application.

Top-down research, bottom-up research, qualitative research, quantitative research, and Fundamental research.

Manufacturers, Consultants, Association, Research Institutes, private and university libraries, suppliers, and distributors of the product.

Table of Contents


1. Introduction

1.1 Market Definition

1.2 Scope

1.3 Research Assumptions


2. Research Methodology


3. Market Dynamics

3.1 Drivers

3.2 Restraints

3.3 Opportunities

3.4 Challenges


4. Impact Analysis

4.1 COVID-19 Impact Analysis

4.2 Impact of Ukraine- Russia war

4.3 Impact of ongoing Recession

4.3.1 Introduction

4.3.2 Impact on major economies US Canada Germany France United Kingdom China Japan South Korea Rest of the World


5. Value Chain Analysis


6. Porter’s 5 forces model


7.  PEST Analysis


8. Thermal Imaging Market Segmentation, by product type


8.2 Handheld Thermal Cameras

8.3Fixed Thermal Cameras


9. Thermal Imaging Market Segmentation, by type


9.2 Thermal Modules

9.3Thermal Cameras

9.4Thermal Scopes


10. Thermal Imaging Market Segmentation, by technology

10.1 Introduction

10.2 Cooled

10.3 Uncooled


11. Thermal Imaging Market Segmentation, by application

11.1 Introduction

11.2 Monitoring & Inspection

11.3 Security & Surveillance

11.4 Detection & Measurement


12. Thermal Imaging Market Segmentation, by industry vertical

12.1 Introduction

12.2 Industrial

12.3 Residential

12.4 Automotive

12.4 Oil & Gas

12.5 Commercial

12.6 Aerospace & Defence

12.7 Healthcare & Life Sciences

12.8 Food & Beverages


13. Regional Analysis

13.1 Introduction

13.2 North America

13.2.1 USA

13.2.2 Canada

13.2.3 Mexico

13.3 Europe

13.3.1 Germany

13.3.2 UK

13.3.3 France

13.3.4 Italy

13.3.5 Spain

13.3.6 The Netherlands

13.3.7 Rest of Europe

13.4 Asia-Pacific

13.4.1 Japan

13.4.2 South Korea

13.4.3 China

13.4.4 India

13.4.5 Australia

13.4.6 Rest of Asia-Pacific

13.5 The Middle East & Africa

13.5.1 Israel

13.5.2 UAE

13.5.3 South Africa

13.5.4 Rest

13.6 Latin America

13.6.1 Brazil

13.6.2 Argentina

13.6.3 Rest of Latin America



14.Company Profiles

14.1 Thermoteknix Systems

14.1.1 Financial

14.1.2 Products/ Services Offered

14.1.3 SWOT Analysis

14.1.4 The SNS view

14.2 Fluke Corporation


14.4 Axis Communications

14.5 Opgal

14.6 FLIR Systems

14.7 Leonardo

14.8 United Technologies

14.9 BAE Systems

14.10 Xenics


15.Competitive Landscape

15.1 Competitive Benchmark

15.2 Market Share analysis

15.3 Recent Developments




An accurate research report requires proper strategizing as well as implementation. There are multiple factors involved in the completion of good and accurate research report and selecting the best methodology to compete the research is the toughest part. Since the research reports we provide play a crucial role in any company’s decision-making process, therefore we at SNS Insider always believe that we should choose the best method which gives us results closer to reality. This allows us to reach at a stage wherein we can provide our clients best and accurate investment to output ratio.

Each report that we prepare takes a timeframe of 350-400 business hours for production. Starting from the selection of titles through a couple of in-depth brain storming session to the final QC process before uploading our titles on our website we dedicate around 350 working hours. The titles are selected based on their current market cap and the foreseen CAGR and growth.


The 5 steps process:

Step 1: Secondary Research:

Secondary Research or Desk Research is as the name suggests is a research process wherein, we collect data through the readily available information. In this process we use various paid and unpaid databases which our team has access to and gather data through the same. This includes examining of listed companies’ annual reports, Journals, SEC filling etc. Apart from this our team has access to various associations across the globe across different industries. Lastly, we have exchange relationships with various university as well as individual libraries.

Secondary Research

Step 2: Primary Research

When we talk about primary research, it is a type of study in which the researchers collect relevant data samples directly, rather than relying on previously collected data.  This type of research is focused on gaining content specific facts that can be sued to solve specific problems. Since the collected data is fresh and first hand therefore it makes the study more accurate and genuine.

We at SNS Insider have divided Primary Research into 2 parts.

Part 1 wherein we interview the KOLs of major players as well as the upcoming ones across various geographic regions. This allows us to have their view over the market scenario and acts as an important tool to come closer to the accurate market numbers. As many as 45 paid and unpaid primary interviews are taken from both the demand and supply side of the industry to make sure we land at an accurate judgement and analysis of the market.

This step involves the triangulation of data wherein our team analyses the interview transcripts, online survey responses and observation of on filed participants. The below mentioned chart should give a better understanding of the part 1 of the primary interview.

Primary Research

Part 2: In this part of primary research the data collected via secondary research and the part 1 of the primary research is validated with the interviews from individual consultants and subject matter experts.

Consultants are those set of people who have at least 12 years of experience and expertise within the industry whereas Subject Matter Experts are those with at least 15 years of experience behind their back within the same space. The data with the help of two main processes i.e., FGDs (Focused Group Discussions) and IDs (Individual Discussions). This gives us a 3rd party nonbiased primary view of the market scenario making it a more dependable one while collation of the data pointers.

Step 3: Data Bank Validation

Once all the information is collected via primary and secondary sources, we run that information for data validation. At our intelligence centre our research heads track a lot of information related to the market which includes the quarterly reports, the daily stock prices, and other relevant information. Our data bank server gets updated every fortnight and that is how the information which we collected using our primary and secondary information is revalidated in real time.

Data Bank Validation

Step 4: QA/QC Process

After all the data collection and validation our team does a final level of quality check and quality assurance to get rid of any unwanted or undesired mistakes. This might include but not limited to getting rid of the any typos, duplication of numbers or missing of any important information. The people involved in this process include technical content writers, research heads and graphics people. Once this process is completed the title gets uploader on our platform for our clients to read it.

Step 5: Final QC/QA Process:

This is the last process and comes when the client has ordered the study. In this process a final QA/QC is done before the study is emailed to the client. Since we believe in giving our clients a good experience of our research studies, therefore, to make sure that we do not lack at our end in any way humanly possible we do a final round of quality check and then dispatch the study to the client.

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