Table of Content

1 INTRODUCTION 27
1.1 STUDY OBJECTIVES 27
1.2 DEFINITION 27
1.3 INCLUSIONS & EXCLUSIONS 28
1.4 STUDY SCOPE 28
1.4.1 MARKETS COVERED 28
FIGURE 1 THERMAL IMAGING MARKET 28
1.4.2 YEARS CONSIDERED 29
1.5 CURRENCY 29
1.6 LIMITATIONS 29
1.7 STAKEHOLDERS 29
1.8 SUMMARY OF CHANGES 30
2 RESEARCH METHODOLOGY 31
2.1 RESEARCH DATA 31
FIGURE 2 THERMAL IMAGING MARKET: RESEARCH DESIGN 31
2.1.1 SECONDARY DATA 32
FIGURE 3 THERMAL IMAGING MARKET: RESEARCH APPROACH 32
2.1.1.1 Secondary sources 33
2.1.2 PRIMARY DATA 33
2.1.2.1 Primary sources 34
2.1.2.2 Breakdown of primary profiles 34
2.1.2.3 Primary sources 35
2.2 MARKET SIZE ESTIMATION 35
FIGURE 4 MARKET SIZE ESTIMATION METHODOLOGY: APPROACH 1 BOTTOM-UP (SUPPLY SIDE): REVENUE GENERATED BY COMPANIES FROM SALE OF THE THERMAL IMAGING MARKET 36
2.2.1 BOTTOM-UP APPROACH 36
2.2.1.1 Approach for capturing the market size by bottom-up analysis (demand side) 36
FIGURE 5 MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH 37
2.2.2 TOP-DOWN APPROACH 37
2.2.2.1 Approach for capturing the market share by top-down analysis (supply side) 37
FIGURE 6 MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH 38
2.3 MARKET BREAKDOWN AND DATA TRIANGULATION 38
FIGURE 7 DATA TRIANGULATION 38
2.4 RESEARCH ASSUMPTIONS 39
2.5 RISK ASSESSMENT 40
TABLE 1 ANALYSIS OF RISK FACTORS 40
3 EXECUTIVE SUMMARY 41
FIGURE 8 UNCOOLED TECHNOLOGY TO DOMINATE THE THERMAL IMAGING MARKET DURING THE FORECAST PERIOD 42
FIGURE 9 SHORT-WAVE INFRARED WAVELENGTH TO GROW AT THE HIGHEST CAGR DURING THE FORECAST PERIOD 42
FIGURE 10 THERMAL CAMERAS SEGMENT TO DOMINATE THE THERMAL IMAGING MARKET DURING THE FORECAST PERIOD 43
FIGURE 11 DETECTION AND MEASUREMENT APPLICATION TO GROW AT THE HIGHEST CAGR DURING THE FORECAST PERIOD 43
FIGURE 12 HEALTHCARE & LIFE SCIENCES VERTICAL TO WITNESS THE HIGHEST CAGR DURING 2021–2026 44
FIGURE 13 NORTH AMERICA TO DOMINATE THE THERMAL IMAGING MARKET DURING THE FORECAST PERIOD 45
4 PREMIUM INSIGHTS 46
4.1 ATTRACTIVE GROWTH OPPORTUNITIES IN THE THERMAL IMAGING MARKET 46
FIGURE 14 RISING DEMAND FOR ADVANCED THERMAL IMAGING COMPONENTS IN THE AEROSPACE & DEFENSE SECTOR TO SPUR THE THERMAL IMAGING MARKET GROWTH DURING THE FORECAST PERIOD 46
4.2 THERMAL IMAGING MARKET, BY PRODUCT TYPE 47
FIGURE 15 THERMAL CAMERAS SEGMENT TO RECORD THE HIGHEST CAGR IN THE OVERALL THERMAL IMAGING MARKET DURING THE FORECAST PERIOD 47
4.3 THERMAL IMAGING MARKET, BY APPLICATION 47
FIGURE 16 SECURITY AND SURVEILLANCE SEGMENT TO RECORD THE LARGEST SHARE IN THE OVERALL THERMAL IMAGING MARKET DURING THE FORECAST PERIOD 47
4.4 THERMAL IMAGING MARKET, BY TYPE 48
FIGURE 17 UNCOOLED SEGMENT EXPECTED TO ACCOUNT FOR A LARGER SHARE BY 2026 48
4.5 THERMAL IMAGING MARKET, BY COUNTRY 48
FIGURE 18 CHINA TO WITNESS THE HIGHEST GROWTH IN THE OVERALL THERMAL IMAGING MARKET DURING THE FORECAST PERIOD 48
5 MARKET OVERVIEW & INDUSTRY TRENDS 49
5.1 INTRODUCTION 49
5.2 MARKET DYNAMICS 49
FIGURE 19 MARKET DYNAMICS: THERMAL IMAGING MARKET 49
5.2.1 DRIVERS 50
5.2.1.1 Increasing government expenditure in the aerospace & defense sector boosting the thermal imaging market growth 50
FIGURE 20 MILITARY EXPENSES OF DIFFERENT COUNTRIES IN 2020 50
5.2.1.2 Increasing adoption of thermal imaging in the automotive industry 51
5.2.1.3 Growing R&D investments by companies, governments, and capital firms for developing innovative thermal imaging solutions 51
FIGURE 21 THERMAL IMAGING MARKET DRIVERS AND THEIR IMPACT 52
?
5.2.2 RESTRAINTS 52
5.2.2.1 Export restriction imposed on thermal imaging products 52
FIGURE 22 THERMAL IMAGING MARKET RESTRAINTS AND THEIR IMPACT 53
5.2.3 OPPORTUNITIES 53
5.2.3.1 Increase in the adoption of thermography for infancy stage diagnosis in healthcare applications 53
5.2.3.2 Thermal imaging diagnoses defects in building structures 54
FIGURE 23 THERMAL IMAGING MARKET OPPORTUNITIES AND THEIR IMPACT 54
5.2.4 CHALLENGES 54
5.2.4.1 Thermal cameras do not work through glass and water 54
5.2.4.2 Thermal imaging does not work for see-through wall applications 55
FIGURE 24 THERMAL IMAGING MARKET CHALLENGES AND THEIR IMPACT 55
5.3 VALUE CHAIN ANALYSIS 56
FIGURE 25 VALUE CHAIN OF THE THERMAL IMAGING MARKET 56
5.4 TRENDS AND DISRUPTIONS IMPACTING CUSTOMERS BUSINESS 57
FIGURE 26 ARTIFICIAL INTELLIGENCE TO PRESENT NEW GROWTH OPPORTUNITIES FOR THERMAL IMAGING COMPANIES 57
5.5 PORTER’S FIVE FORCES ANALYSIS 58
FIGURE 27 THERMAL IMAGING: PORTER’S FIVE FORCES ANALYSIS, 2020 58
TABLE 2 THERMAL IMAGING MARKET: PORTER’S FIVE FORCES ANALYSIS, 2020 59
TABLE 3 THERMAL IMAGING MARKET: PORTER’S FIVE FORCES ANALYSIS,
(2021–2026) 59
5.6 CASE STUDY ANALYSIS 59
5.6.1 USE CASE 1: FLIR SYSTEMS 59
5.6.2 USE CASE 2: FLIR SYSTEMS 60
5.7 TECHNOLOGY ANALYSIS 60
5.7.1 IR IMAGING AS A RAPID TOOL TO ANALYZE ORGANIC COMPOSTS 60
5.7.2 VIBRATIONAL SPECTROSCOPIC TECHNIQUES FOR TEA QUALITY
AND SAFETY ANALYSES 61
5.8 PATENT ANALYSIS 61
TABLE 4 THERMAL IMAGING MARKET: PORTER’S FIVE FORCES ANALYSIS 61
FIGURE 28 TOP TEN COMPANIES WITH THE HIGHEST NUMBER OF PATENT APPLICATIONS IN THE LAST TEN YEARS 63
TABLE 5 TOP TEN PATENT OWNERS IN THE LAST TEN YEARS 63
5.9 THERMAL IMAGING MARKET ECOSYSTEM ANALYSIS 64
TABLE 6 THERMAL IMAGING MARKET: SUPPLY CHAIN/ECOSYSTEM 65
5.10 PRICING ANALYSIS 66
5.10.1 THERMAL IMAGING CAMERAS 66
TABLE 7 PRICE RANGE OF THERMAL IMAGING CAMERAS 66
5.11 TRADE ANALYSIS 66
FIGURE 29 TOP FIVE COUNTRIES WITH THE HIGHEST IMPORTS IN THE LAST FIVE YEARS 66
TABLE 8 IMPORT FOR TOP FIVE COUNTRIES RELATED TO INSTRUMENTS AND APPARATUS, PHYSICAL OR CHEMICAL ANALYSIS, 2016?2020 (USD BILLION) 67
FIGURE 30 TOP FIVE COUNTRIES WITH THE HIGHEST EXPORTS IN THE LAST FIVE YEARS 67
TABLE 9 EXPORT BY TOP FIVE COUNTRIES RELATED TO INSTRUMENTS AND APPARATUS, PHYSICAL OR CHEMICAL ANALYSIS, 2016?2020, (USD MILLION) 67
5.11.1 TARIFF ANALYSIS 68
TABLE 10 TARIFF FOR INSTRUMENTS AND APPARATUS RELATED TO PHYSICAL OR CHEMICAL ANALYSIS EXPORTED BY UNITED STATES, 2020 68
TABLE 11 TARIFF FOR INSTRUMENTS AND APPARATUS RELATED TO PHYSICAL OR CHEMICAL ANALYSIS EXPORTED BY GERMANY, 2020 69
TABLE 12 TARIFF FOR INSTRUMENTS AND APPARATUS RELATED TO PHYSICAL OR CHEMICAL ANALYSIS EXPORTED BY SINGAPORE, 2020 69
5.12 REGULATORY STANDARDS 70
5.12.1 INTERNATIONAL TRAFFIC IN ARMS REGULATIONS (ITAR) 70
5.12.2 NATIONAL ELECTRONIC DISTRIBUTORS ASSOCIATION (NEDA) 70
5.12.3 INSTITUTE FOR PRINTED CIRCUITS (IPC) 70
5.12.4 WORKING-PARTY ON INSTRUMENT BEHAVIOR M-2784 (WIB M-2784) – PROCESS CONTROL DOMAIN: SECURITY REQUIREMENTS FOR VENDORS 70
6 THERMAL IMAGING MARKET, BY PRODUCT TYPE 71
6.1 INTRODUCTION 72
FIGURE 31 THERMAL CAMERAS SEGMENT OF THE THERMAL IMAGING MARKET TO GROW AT THE HIGHEST CAGR FROM 2021 TO 2026 72
TABLE 13 THERMAL IMAGING MARKET, BY PRODUCT TYPE, 2017–2020 (USD MILLION) 72
TABLE 14 THERMAL IMAGING MARKET, BY PRODUCT TYPE, 2021–2026 (USD MILLION) 72
TABLE 15 THERMAL IMAGING MARKET, BY PRODUCT TYPE,
2017–2020 (THOUSAND UNITS) 73
TABLE 16 THERMAL IMAGING MARKET, BY PRODUCT TYPE,
2021–2026 (THOUSAND UNITS) 73
6.2 THERMAL CAMERAS 73
6.2.1 INCREASE IN THE ADOPTION OF THERMAL CAMERAS IN APPLICATIONS SPURRING MARKET GROWTH 73
6.3 THERMAL SCOPES 74
6.3.1 HIGH ADOPTION OF THERMAL SCOPES IN THE AEROSPACE & DEFENSE VERTICAL ACCELERATING MARKET GROWTH 74
6.4 THERMAL MODULES 74
6.4.1 INCREASING DEMAND FOR THERMAL MODULES TO BOOST THE GROWTH OF THE THERMAL IMAGING MARKET 74
7 THERMAL IMAGING MARKET, BY TYPE 75
7.1 INTRODUCTION 76
FIGURE 32 HANDHELD SEGMENT EXPECTED TO GROW AT HIGHEST CAGR
FROM 2021 TO 2026 76
TABLE 17 THERMAL IMAGING MARKET, BY TYPE, 2017–2020 (USD MILLION) 76
TABLE 18 THERMAL IMAGING MARKET, BY TYPE, 2021–2026 (USD MILLION) 76
7.2 FIXED THERMAL CAMERAS 77
7.3 HANDHELD THERMAL CAMERAS 77
8 THERMAL IMAGING MARKET, BY TECHNOLOGY 78
8.1 INTRODUCTION 79
TABLE 19 THERMAL IMAGING MARKET, BY TECHNOLOGY, 2017–2020 (USD MILLION) 79
FIGURE 33 UNCOOLED SEGMENT EXPECTED TO GROW AT A HIGHER CAGR DURING THE FORECAST PERIOD 79
TABLE 20 THERMAL IMAGING MARKET, BY TECHNOLOGY,
2021–2026 (USD MILLION) 79
8.2 COOLED 80
8.2.1 USAGE OF HIGHLY SENSITIVE COOLED THERMAL CAMERAS TO MONITOR MINUTE TEMPERATURE DIFFERENCE (<20 MK) 80
TABLE 21 COOLED THERMAL IMAGING MARKET, BY APPLICATION,
2017–2020 (USD MILLION) 80
TABLE 22 COOLED THERMAL IMAGING MARKET, BY APPLICATION,
2021–2026 (USD MILLION) 81
8.3 UNCOOLED 81
8.3.1 UNCOOLED THERMAL CAMERAS SUITABLE FOR LOW-COST AND HIGH-VOLUME APPLICATIONS 81
TABLE 23 UNCOOLED THERMAL IMAGING MARKET, BY APPLICATION,
2017–2020 (USD MILLION) 81
TABLE 24 UNCOOLED THERMAL IMAGING MARKET, BY APPLICATION,
2021–2026 (USD MILLION) 82
9 THERMAL IMAGING MARKET, BY WAVELENGTH 83
9.1 INTRODUCTION 84
FIGURE 34 SWIR SEGMENT EXPECTED TO GROW AT THE HIGHEST CAGR
FROM 2021 TO 2026 84
TABLE 25 THERMAL IMAGING MARKET, BY WAVELENGTH, 2017–2020 (USD MILLION) 84
TABLE 26 THERMAL IMAGING MARKET, BY WAVELENGTH, 2021–2026 (USD MILLION) 85
9.2 SHORT-WAVE INFRARED (SWIR) 85
9.2.1 CAPABILITY OF SWIR THERMAL IMAGING PRODUCTS TO PRODUCE DETAILED IMAGES WITH HIGH-RESOLUTION 85
9.3 MID-WAVE INFRARED (MWIR) 86
9.3.1 MWIR THERMAL IMAGING PRODUCTS USED TO PROVIDE HIGH CONTRAST THERMAL IMAGES 86
9.4 LONG-WAVE INFRARED (LWIR) 86
9.4.1 LWIR THERMAL IMAGING PRODUCTS USED TO MONITOR HUMAN ACTIVITIES AND VEHICLES 86
10 THERMAL IMAGING MARKET, BY VERTICAL 87
10.1 INTRODUCTION 88
FIGURE 35 HEALTHCARE & LIFE SCIENCES SEGMENT EXPECTED TO GROW AT THE HIGHEST CAGR DURING THE FORECAST PERIOD 88
TABLE 27 THERMAL IMAGING MARKET, BY VERTICAL, 2017–2020 (USD MILLION) 88
TABLE 28 THERMAL IMAGING MARKET, BY VERTICAL, 2021–2026 (USD MILLION) 89
?
10.2 INDUSTRIAL 89
10.2.1 RISE IN DEPLOYMENT OF THERMAL CAMERAS IN THE INDUSTRIAL SEGMENT TO SAFEGUARD INDUSTRIAL ASSETS AND HUMAN LIVES 89
TABLE 29 INDUSTRIAL THERMAL IMAGING MARKET, BY APPLICATION,
2017–2020 (USD MILLION) 90
TABLE 30 INDUSTRIAL THERMAL IMAGING MARKET, BY APPLICATION,
2021–2026 (USD MILLION) 90
10.3 COMMERCIAL 90
10.3.1 GROWING DEMAND FOR THERMAL CAMERAS IN THE COMMERCIAL SEGMENT TO SUPPORT THE GROWTH OF THE MARKET 90
TABLE 31 COMMERCIAL THERMAL IMAGING MARKET, BY APPLICATION,
2017–2020 (USD MILLION) 91
TABLE 32 COMMERCIAL THERMAL IMAGING MARKET, BY APPLICATION,
2021–2026 (USD MILLION) 91
10.4 RESIDENTIAL 91
10.4.1 INCREASING ADOPTION OF THERMAL CAMERAS FOR BUILDING SAFETY AND INCREASING EFFICIENCY 91
TABLE 33 RESIDENTIAL THERMAL IMAGING MARKET, BY APPLICATION,
2017–2020 (USD MILLION) 92
FIGURE 36 MONITORING AND INSPECTION SEGMENT EXPECTED TO GROW AT THE HIGHEST CAGR DURING THE FORECAST PERIOD 92
TABLE 34 RESIDENTIAL THERMAL IMAGING MARKET, BY APPLICATION,
2021–2026 (USD MILLION) 92
10.5 AEROSPACE & DEFENSE 93
10.5.1 RISING ADOPTION OF ADVANCED THERMAL IMAGING SOLUTIONS ACROSS THE AEROSPACE & DEFENSE INDUSTRY TO FUEL THE MARKET GROWTH 93
TABLE 35 AEROSPACE & DEFENSE THERMAL IMAGING MARKET, BY APPLICATION, 2017–2020 (USD MILLION) 93
TABLE 36 AEROSPACE & DEFENSE THERMAL IMAGING MARKET, BY APPLICATION, 2021–2026 (USD MILLION) 94
10.6 AUTOMOTIVE 94
10.6.1 EVOLUTION OF ADVANCED THERMAL IMAGING SOLUTIONS FOR AUTOMOTIVE TO SPUR THE MARKET 94
TABLE 37 AUTOMOTIVE THERMAL IMAGING MARKET, BY APPLICATION,
2017–2020 (USD MILLION) 94
TABLE 38 AUTOMOTIVE THERMAL IMAGING MARKET, BY APPLICATION,
2021–2026 (USD MILLION) 95
10.7 HEALTHCARE & LIFE SCIENCES 95
10.7.1 SIMPLE, NON-INVASIVE, AND LESS EXPENSIVE THERMAL IMAGING TECHNIQUE TO INCREASE THE DEMAND FOR THERMAL CAMERAS IN THE HEALTHCARE & LIFE SCIENCES VERTICAL 95
TABLE 39 HEALTHCARE & LIFE SCIENCES THERMAL IMAGING MARKET,
BY APPLICATION, 2017–2020 (USD MILLION) 96
FIGURE 37 DETECTION AND MEASUREMENT SEGMENT EXPECTED TO GROW AT A HIGHER CAGR DURING THE FORECAST PERIOD 96
TABLE 40 HEALTHCARE & LIFE SCIENCES THERMAL IMAGING MARKET,
BY APPLICATION, 2021–2026 (USD MILLION) 96
?
10.8 OIL & GAS 97
10.8.1 INCREASING IMPORTANCE OF PREDICTIVE MAINTENANCE TO FUEL THE MARKET 97
TABLE 41 OIL & GAS THERMAL IMAGING MARKET, BY APPLICATION,
2017–2020 (USD MILLION) 97
TABLE 42 OIL & GAS THERMAL IMAGING MARKET, BY APPLICATION,
2021–2026 (USD MILLION) 97
10.9 FOOD & BEVERAGES 97
10.9.1 GROWING NEED FOR PRECISE TEMPERATURE MONITORING OF FOOD PROCESSING TO MAKE THERMAL IMAGING QUALITY CONTROL METHOD PREFERRED BY SEVERAL MANUFACTURERS 97
TABLE 43 FOOD & BEVERAGES THERMAL IMAGING MARKET, BY APPLICATION,
2017–2020 (USD MILLION) 98
TABLE 44 FOOD & BEVERAGES THERMAL IMAGING MARKET, BY APPLICATION,
2021–2026 (USD MILLION) 98
11 THERMAL IMAGING MARKET, BY APPLICATION 99
11.1 INTRODUCTION 100
FIGURE 38 DETECTION & MEASUREMENT SEGMENT EXPECTED TO GROW AT THE HIGHEST CAGR FROM 2021 TO 2026 100
TABLE 45 THERMAL IMAGING MARKET, BY APPLICATION, 2017–2020 (USD MILLION) 100
TABLE 46 THERMAL IMAGING MARKET, BY APPLICATION, 2021–2026 (USD MILLION) 101
11.2 SECURITY AND SURVEILLANCE 101
11.2.1 INCREASING ADOPTION OF SECURITY AND SURVEILLANCE SYSTEMS IN THE AEROSPACE & DEFENSE SECTOR TO BOOST MARKET GROWTH 101
TABLE 47 SECURITY AND SURVEILLANCE: THERMAL IMAGING MARKET SIZE,
BY APPLICATION TYPE, 2017–2020 (USD MILLION) 101
TABLE 48 SECURITY AND SURVEILLANCE: THERMAL IMAGING MARKET SIZE,
BY APPLICATION TYPE, 2021–2026 (USD MILLION) 102
TABLE 49 SECURITY AND SURVEILLANCE: THERMAL IMAGING MARKET SIZE,
BY VERTICAL, 2017–2020 (USD MILLION) 102
TABLE 50 SECURITY AND SURVEILLANCE: THERMAL IMAGING MARKET SIZE,
BY VERTICAL, 2021–2026 (USD MILLION) 102
TABLE 51 SECURITY AND SURVEILLANCE: THERMAL IMAGING MARKET SIZE,
BY REGION, 2017–2020 (USD MILLION) 103
TABLE 52 SECURITY AND SURVEILLANCE: THERMAL IMAGING MARKET, BY REGION, 2021–2026 (USD MILLION) 103
11.2.2 PERIMETER SECURITY 103
11.2.2.1 Rising deployment of thermal cameras in perimeter security 103
TABLE 53 PERIMETER SECURITY: SECURITY AND SURVEILLANCE MARKET SIZE,
BY VERTICAL, 2017–2020 (USD MILLION) 104
FIGURE 39 INDUSTRIAL VERTICAL EXPECTED TO GROW AT THE HIGHEST CAGR FROM 2021 TO 2026 104
TABLE 54 PERIMETER SECURITY: SECURITY AND SURVEILLANCE MARKET SIZE,
BY VERTICAL, 2021–2026 (USD MILLION) 104
TABLE 55 PERIMETER SECURITY: SECURITY AND SURVEILLANCE MARKET SIZE,
BY REGION, 2017–2020 (USD MILLION) 105
TABLE 56 PERIMETER SECURITY: SECURITY AND SURVEILLANCE MARKET, BY REGION, 2021–2026 (USD MILLION) 105
11.2.3 UNMANNED AERIAL VEHICLE 105
11.2.3.1 Advancement in technology will increase the requirement for advanced thermal UAVs to ensure complete protection 105
TABLE 57 UAV: SECURITY AND SURVEILLANCE MARKET SIZE, BY VERTICAL,
2017–2020 (USD MILLION) 106
TABLE 58 UAV: SECURITY AND SURVEILLANCE MARKET SIZE, BY VERTICAL,
2021–2026 (USD MILLION) 106
TABLE 59 UAV: SECURITY AND SURVEILLANCE MARKET, BY REGION,
2017–2020 (USD MILLION) 106
TABLE 60 UAV: SECURITY AND SURVEILLANCE MARKET, BY REGION,
2021–2026 (USD MILLION) 106
11.2.4 TRACKING 107
11.2.4.1 Panoramic thermal imaging system enables tracking in wide area spurring market growth 107
TABLE 61 TRACKING: SECURITY AND SURVEILLANCE MARKET SIZE, BY VERTICAL, 2017–2020 (USD MILLION) 107
TABLE 62 TRACKING: SECURITY AND SURVEILLANCE MARKET SIZE, BY VERTICAL, 2021–2026 (USD MILLION) 107
TABLE 63 TRACKING: SECURITY AND SURVEILLANCE MARKET SIZE, BY REGION,
2017–2020 (USD MILLION) 107
TABLE 64 TRACKING: SECURITY AND SURVEILLANCE MARKET SIZE, BY REGION,
2021–2026 (USD MILLION) 108
11.3 MONITORING AND INSPECTION 108
11.3.1 REQUIREMENT OF MONITORING AND INSPECTION TO ASSESS THE QUALITY OF MANUFACTURED DEVICES DRIVING THE ADOPTION OF THERMAL IMAGING PRODUCTS 108
TABLE 65 MONITORING AND INSPECTION: THERMAL IMAGING MARKET SIZE,
BY APPLICATION TYPE, 2017–2020 (USD MILLION) 108
TABLE 66 MONITORING AND INSPECTION: THERMAL IMAGING MARKET SIZE,
BY APPLICATION TYPE, 2021–2026 (USD MILLION) 109
TABLE 67 MONITORING AND INSPECTION: THERMAL IMAGING MARKET SIZE,
BY VERTICAL, 2017–2020 (USD MILLION) 109
TABLE 68 MONITORING AND INSPECTION: THERMAL IMAGING MARKET SIZE,
BY VERTICAL, 2021–2026 (USD MILLION) 109
TABLE 69 MONITORING AND INSPECTION: THERMAL IMAGING MARKET SIZE,
BY REGION, 2017–2020 (USD MILLION) 110
TABLE 70 MONITORING AND INSPECTION: THERMAL IMAGING MARKET SIZE,
BY REGION, 2021–2026 (USD MILLION) 110
11.3.2 MACHINE CONDITION MONITORING 110
11.3.2.1 Increasing awareness about the safety of machines used for the deployment of thermal cameras propelling the market growth 110
TABLE 71 MACHINE CONDITION MONITORING: MONITORING AND INSPECTION MARKET SIZE, BY VERTICAL, 2017–2020 (USD MILLION) 111
FIGURE 40 INDUSTRIAL VERTICAL EXPECTED TO GROW AT THE HIGHEST CAGR FROM 2021 TO 2026 111
TABLE 72 MACHINE CONDITION MONITORING: MONITORING AND INSPECTION MARKET SIZE, BY VERTICAL, 2021–2026 (USD MILLION) 112
TABLE 73 MACHINE CONDITION MONITORING: MONITORING AND INSPECTION MARKET SIZE, BY REGION, 2017–2020 (USD MILLION) 112
TABLE 74 MACHINE CONDITION MONITORING: MONITORING AND INSPECTION MARKET SIZE, BY REGION, 2021–2026 (USD MILLION) 112
11.3.3 STRUCTURAL HEALTH MONITORING 113
11.3.3.1 Rising adoption of thermal cameras to safeguard building structures 113
TABLE 75 STRUCTURAL HEALTH MONITORING: MONITORING AND INSPECTION MARKET SIZE, BY VERTICAL, 2017–2020 (USD MILLION) 113
TABLE 76 STRUCTURAL HEALTH MONITORING: MONITORING AND INSPECTION MARKET SIZE, BY VERTICAL, 2021–2026 (USD MILLION) 113
TABLE 77 STRUCTURAL HEALTH MONITORING: MONITORING AND INSPECTION MARKET SIZE, BY REGION, 2017–2020 (USD MILLION) 114
TABLE 78 STRUCTURAL HEALTH MONITORING: MONITORING AND INSPECTION MARKET SIZE, BY REGION, 2021–2026 (USD MILLION) 114
11.3.4 QUALITY ASSESSMENT 114
11.3.4.1 Human safety increases the demand for the thermal imaging technology 114
TABLE 79 QUALITY ASSESSMENT: MONITORING AND INSPECTION MARKET SIZE,
BY VERTICAL, 2017–2020 (USD MILLION) 115
TABLE 80 QUALITY ASSESSMENT: MONITORING AND INSPECTION MARKET SIZE,
BY VERTICAL, 2021–2026 (USD MILLION) 115
TABLE 81 QUALITY ASSESSMENT: MONITORING AND INSPECTION MARKET SIZE,
BY REGION, 2017–2020 (USD MILLION) 115
TABLE 82 QUALITY ASSESSMENT: MONITORING AND INSPECTION MARKET SIZE,
BY REGION, 2021–2026 (USD MILLION) 116
11.3.5 HVAC SYSTEM INSPECTION 116
11.3.5.1 Rise in the awareness of HVAC systems increasing the deployment of thermal imagers driving the market growth 116
TABLE 83 HVAC SYSTEM INSPECTION: MONITORING AND INSPECTION MARKET SIZE,
BY VERTICAL, 2017–2020 (USD MILLION) 116
TABLE 84 HVAC SYSTEM INSPECTION: MONITORING AND INSPECTION MARKET SIZE,
BY VERTICAL, 2021–2026 (USD MILLION) 117
TABLE 85 HVAC SYSTEM INSPECTION: MONITORING AND INSPECTION MARKET SIZE,
BY REGION, 2017–2020 (USD MILLION) 117
TABLE 86 HVAC SYSTEM INSPECTION: MONITORING AND INSPECTION MARKET,
BY REGION, 2021–2026 (USD MILLION) 117
11.4 DETECTION AND MEASUREMENT 118
11.4.1 INCREASING ADOPTION OF THERMAL IMAGING DEVICES TO DETECT, MEASURE, AND ENSURE VEHICLE & DRIVER SAFETY AS WELL AS EFFICIENCY 118
TABLE 87 DETECTION AND MEASUREMENT: THERMAL IMAGING MARKET SIZE,
BY APPLICATION TYPE, 2017–2020 (USD MILLION) 118
FIGURE 41 BODY TEMPERATURE SEGMENT EXPECTED TO GROW AT THE HIGHEST CAGR FROM 2021 TO 2026 118
TABLE 88 DETECTION AND MEASUREMENT: THERMAL IMAGING MARKET SIZE,
BY APPLICATION TYPE, 2021–2026 (USD MILLION) 119
TABLE 89 DETECTION AND MEASUREMENT: THERMAL IMAGING MARKET SIZE,
BY VERTICAL, 2017–2020 (USD MILLION) 119
TABLE 90 DETECTION AND MEASUREMENT: THERMAL IMAGING MARKET SIZE,
BY VERTICAL, 2021–2026 (USD MILLION) 120
TABLE 91 DETECTION AND MEASUREMENT: THERMAL IMAGING MARKET SIZE,
BY REGION, 2017–2020 (USD MILLION) 120
TABLE 92 DETECTION AND MEASUREMENT: THERMAL IMAGING MARKET SIZE,
BY REGION, 2021–2026 (USD MILLION) 120
11.4.2 GAS DETECTION 121
11.4.2.1 Strict regulations imposed on the oil & gas industry increasing the adoption of thermal imaging cameras 121
TABLE 93 GAS DETECTION: DETECTION AND MEASUREMENT MARKET SIZE,
BY VERTICAL, 2017–2020 (USD MILLION) 121
TABLE 94 GAS DETECTION: DETECTION AND MEASUREMENT MARKET SIZE,
BY VERTICAL, 2021–2026 (USD MILLION) 121
TABLE 95 GAS DETECTION: DETECTION AND MEASUREMENT MARKET SIZE, BY REGION, 2017–2020 (USD MILLION) 122
TABLE 96 GAS DETECTION: DETECTION AND MEASUREMENT MARKET SIZE, BY REGION, 2021–2026 (USD MILLION) 122
11.4.3 FIRE/FLARE DETECTION 122
11.4.3.1 Deployment of thermal cameras to reduce human, material, and property losses to boost market 122
TABLE 97 FIRE/FLARE DETECTION: DETECTION AND MEASUREMENT MARKET SIZE,
BY VERTICAL, 2017–2020 (USD MILLION) 122
TABLE 98 FIRE/FLARE DETECTION: DETECTION AND MEASUREMENT MARKET SIZE,
BY VERTICAL, 2021–2026 (USD MILLION) 123
TABLE 99 FIRE/FLARE DETECTION: DETECTION AND MEASUREMENT MARKET SIZE,
BY REGION, 2017–2020 (USD MILLION) 123
TABLE 100 FIRE/FLARE DETECTION: DETECTION AND MEASUREMENT MARKET SIZE,
BY REGION, 2021–2026 (USD MILLION) 123
11.4.4 BODY TEMPERATURE MEASUREMENT 124
11.4.4.1 Increasing use of thermal cameras propelling the market growth 124
TABLE 101 BODY TEMPERATURE MEASUREMENT: DETECTION AND MEASUREMENT MARKET SIZE, BY VERTICAL, 2017–2020 (USD MILLION) 124
FIGURE 42 HEALTHCARE & LIFE SCIENCES VERTICAL EXPECTED TO GROW AT A HIGHER CAGR FROM 2021 TO 2026 124
TABLE 102 BODY TEMPERATURE MEASUREMENT: DETECTION AND MEASUREMENT MARKET SIZE, BY VERTICAL, 2021–2026 (USD MILLION) 125
TABLE 103 BODY TEMPERATURE MEASUREMENT: DETECTION AND MEASUREMENT MARKET SIZE, BY REGION, 2017–2020 (USD MILLION) 125
TABLE 104 BODY TEMPERATURE MEASUREMENT: DETECTION AND MEASUREMENT MARKET SIZE, BY REGION, 2021–2026 (USD MILLION) 125
11.4.5 LEVEL MEASUREMENT 126
11.4.5.1 Use of thermal imaging cameras by technicians to maintain appropriate container or tank levels to boost the market growth 126
TABLE 105 LEVEL MEASUREMENT: DETECTION AND MEASUREMENT MARKET SIZE,
BY VERTICAL, 2017–2020 (USD MILLION) 126
TABLE 106 LEVEL MEASUREMENT: DETECTION AND MEASUREMENT MARKET SIZE,
BY VERTICAL, 2021–2026 (USD MILLION) 126
TABLE 107 LEVEL MEASUREMENT: DETECTION AND MEASUREMENT MARKET SIZE,
BY REGION, 2017–2020 (USD MILLION) 127
TABLE 108 LEVEL MEASUREMENT: DETECTION AND MEASUREMENT MARKET SIZE,
BY REGION, 2021–2026 (USD MILLION) 127
11.4.6 PROTOTYPE ASSESSMENT 127
11.4.6.1 Adoption of thermal imagers for prototype assessment increasing their demand 127
TABLE 109 PROTOTYPE ASSESSMENT: DETECTION AND MEASUREMENT MARKET SIZE, BY VERTICAL, 2017–2020 (USD MILLION) 128
TABLE 110 PROTOTYPE ASSESSMENT: DETECTION AND MEASUREMENT MARKET SIZE, BY VERTICAL, 2021–2026 (USD MILLION) 128
TABLE 111 PROTOTYPE ASSESSMENT: DETECTION AND MEASUREMENT MARKET SIZE, BY REGION, 2017–2020 (USD MILLION) 128
TABLE 112 PROTOTYPE ASSESSMENT: DETECTION AND MEASUREMENT MARKET SIZE, BY REGION, 2021–2026 (USD MILLION) 128
12 GEOGRAPHIC ANALYSIS 129
12.1 INTRODUCTION 130
TABLE 113 THERMAL IMAGING MARKET, BY REGION, 2017–2020 (USD MILLION) 130
TABLE 114 THERMAL IMAGING MARKET, BY REGION, 2021–2026 (USD MILLION) 130
FIGURE 43 THERMAL IMAGING MARKET SNAPSHOT 131
12.2 NORTH AMERICA 131
FIGURE 44 NORTH AMERICA: THERMAL IMAGING MARKET SNAPSHOT 132
TABLE 115 NORTH AMERICA: THERMAL IMAGING MARKET, BY APPLICATION,
2017–2020 (USD MILLION) 132
TABLE 116 NORTH AMERICA: THERMAL IMAGING MARKET, BY APPLICATION,
2021–2026 (USD MILLION) 133
TABLE 117 NORTH AMERICA THERMAL IMAGING MARKET, BY COUNTRY,
2017–2020 (USD MILLION) 133
TABLE 118 NORTH AMERICA: THERMAL IMAGING MARKET, BY COUNTRY,
2021–2026 (USD MILLION) 133
12.2.1 US 134
12.2.1.1 Presence of thermal imaging manufacturing companies to boost the market growth in the US 134
12.2.2 CANADA 134
12.2.2.1 Investment in R&D of thermal imaging by the government 134
12.2.3 MEXICO 134
12.2.3.1 Wide distribution network 134
12.3 EUROPE 135
FIGURE 45 EUROPE: THERMAL IMAGING MARKET SNAPSHOT 135
TABLE 119 THERMAL IMAGING MARKET IN EUROPE, BY APPLICATION,
2017–2020 (USD MILLION) 136
TABLE 120 EUROPE: THERMAL IMAGING MARKET, BY APPLICATION,
2021–2026 (USD MILLION) 136
TABLE 121 EUROPE: THERMAL IMAGING MARKET, BY COUNTRY,
2017–2020 (USD MILLION) 136
TABLE 122 EUROPE: THERMAL IMAGING MARKET, BY COUNTRY,
2021–2026 (USD MILLION) 136
12.3.1 UK 137
12.3.1.1 Increasing use of thermal cameras for monitoring and inspecting building structures in the residential and commercial sector 137
12.3.2 GERMANY 137
12.3.2.1 Market for thermal imaging expected to witness significant growth 137
12.3.3 FRANCE 137
12.3.3.1 Presence of automobile manufacturers spurring the market growth 137
12.3.4 REST OF EUROPE 138
12.4 APAC 138
FIGURE 46 APAC: THERMAL IMAGING MARKET SNAPSHOT 138
TABLE 123 APAC: THERMAL IMAGING MARKET, BY APPLICATION,
2017–2020 (USD MILLION) 139
TABLE 124 APAC: THERMAL IMAGING MARKET, BY APPLICATION,
2021–2026 (USD MILLION) 139
TABLE 125 APAC: THERMAL IMAGING MARKET, BY COUNTRY,
2017–2020 (USD MILLION) 139
TABLE 126 APAC: THERMAL IMAGING MARKET, BY COUNTRY,
2021–2026 (USD MILLION) 140
12.4.1 CHINA 140
12.4.1.1 Mass production of thermal imaging products 140
12.4.2 JAPAN 140
12.4.2.1 Increase in the use of thermal cameras in the healthcare industry and structural health monitoring applications 140
12.4.3 INDIA 141
12.4.3.1 Collaborations, government initiatives, and foreign direct investments spurring the market growth 141
12.4.4 REST OF APAC 141
12.5 ROW 141
TABLE 127 ROW: THERMAL IMAGING MARKET, BY APPLICATION,
2017–2020 (USD MILLION) 141
TABLE 128 ROW: THERMAL IMAGING MARKET, BY APPLICATION,
2021–2026 (USD MILLION) 142
TABLE 129 ROW: THERMAL IMAGING MARKET, BY REGION, 2017–2020 (USD MILLION) 142
TABLE 130 ROW: THERMAL IMAGING MARKET, BY REGION, 2021–2026 (USD MILLION) 142
12.5.1 MIDDLE EAST & AFRICA 142
12.5.1.1 Ongoing investments in the oil & gas and aerospace & defense industries supporting the market growth 142
12.5.2 SOUTH AMERICA 143
12.5.2.1 Increasing demand for monitoring and inspection in the healthcare and life sciences, industrial, and aerospace & defense sectors 143
13 COMPETITIVE LANDSCAPE 144
13.1 INTRODUCTION 144
13.2 KEY PLAYER STRATEGIES/RIGHT TO WIN 144
13.3 REVENUE ANALYSIS 145
FIGURE 47 FIVE-YEAR REVENUE ANALYSIS OF TOP PLAYERS IN THE THERMAL IMAGING MARKET 145
?
13.4 MARKET SHARE ANALYSIS, 2020 145
FIGURE 48 THERMAL IMAGING MARKET: MARKET SHARE ANALYSIS (2020) 145
TABLE 131 THERMAL IMAGING MARKET: DEGREE OF COMPETITION 146
13.5 COMPANY EVALUATION QUADRANT 148
13.5.1 STARS 148
13.5.2 PERVASIVE PLAYERS 148
13.5.3 EMERGING LEADERS 148
13.5.4 PARTICIPANTS 148
FIGURE 49 THERMAL IMAGING MARKET COMPANY EVALUATION QUADRANT, 2020 149
13.5.5 THERMAL IMAGING MARKET: COMPANY PRODUCT FOOTPRINT 150
TABLE 132 COMPANY PRODUCT FOOTPRINT 150
13.5.6 THERMAL IMAGING MARKET: PRODUCT TYPE FOOTPRINT 151
TABLE 133 COMPANY PRODUCT TYPE FOOTPRINT 151
13.5.7 THERMAL IMAGING MARKET: APPLICATION FOOTPRINT 152
TABLE 134 COMPANY APPLICATION FOOTPRINT 152
13.5.8 THERMAL IMAGING MARKET: REGIONAL FOOTPRINT 154
TABLE 135 COMPANY REGIONAL FOOTPRINT 154
13.6 START-UP/SME EVALUATION QUA