Thermal Scanner Market is expected to grow at a CAGR of Approximately Over 2022-2030

Thermal imaging cameras have mechanical applications across diverse sectors. They are incredible, non-intrusive instruments that can be utilized to screen and analyse issues in an assortment of frameworks.

Thermal imaging technology due to its various attributes finds application in defence and homeland security. According to FMI, the military sector will account for above ~30% of the market in 2020 in terms of value.

Besides strengthening their defence, upgrading technologies is one of the top priorities of most countries across the globe. As they focus on expanding their power in both peacetime and war, military budget will rise.

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A significant portion of this budget will be allotted to high-tech gears and devices. This would have a cascade effect on the thermal scanner market as well.

Innovations in thermal scanner technology especially in short-wave infrared (SWIR) along with the development of Indium Gallium Arsenide (InGaAs) sensors have ensured higher usage of thermal cameras in defence and in other industries.

Department of Defense (DoD) firefighters utilize thermal imaging cameras, which can see through smoke. These cameras additionally help firemen see what territories to keep away from as they navigate through places with less or no visibility brought about by smoke.

Nowadays, various organizations are using thermal cameras to monitor the health & safety of labour force. FMI in its latest study has forecast the thermal scanner market is expected to expand at a CAGR of ~10% between 2020 and 2030.

Key Takeaways from the Thermal Scanner Market Study

• High cost of thermal cooling technology has indirectly stoked sales in the uncooled technology thermal scanners segment. Uncooled systems make lesser noise as compared to cooled system, which is the key reason behind their demand uptick
• North America holds the dominant in the thermal scanner market.  Commercial and residential establishments in this region will exhibit high demand for thermal scanners
• East Asia is forecast to present attractive growth opportunities. The construction sector in China boasts high use of thermal scanners. Besides this, thermal scanners are used as a first line of defence against COVID-19. These factors will aid the expansion of East Asia market
• The ongoing pandemic has created an enormous demand for handheld/ portable thermal scanners to detect fever while maintaining physical  distance
• The world is at the stage of reopening its businesses, therefore, the demand for thermal scanners as a precautionary tool will rise across industries and commercial places

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Impact of COIVD-19 & 2020 Market Analysis

COVID-19 has affected the growth of numerous companies. However, there is a definite growth curve that has been noticed in the market for thermal scanner as it has become one of the most essential tools for detecting corona patients.

Companies are expected to resume operation as lockdown eases following the government guidelines. This would send them scrambling to purchase thermal scanners as a first line of defence against the novel coronavirus.

Among key regional markets, Asia Pacific is exhibiting a high demand for thermal scanner. Countries such as China and India are set to resume their businesses which will again fuel the demand for thermal scanners.

Who is winning?

Some of the key players operating in the thermal scanner market FLIR Systems, Inc., VUMII Imaging, Fluke Corporation, Leonardo S.p.A, Axis Communications AB, Optotherm, Inc., Seek Thermal, Testo SE & Co. KGaA, L3HARRIS TECHNOLOGIES, INC., Thermoteknix Systems Ltd., 3M (3M Scott), C-THERMAL, HGH Infrared Systems, Tonbo Imaging, Opgal (Israel), TERABEE, Xenics, Infratec GmbH, AMETEK Land, and among others.

Companies operating in the market are aiming at establishing a stronger foothold. As a part of the strategy, these companies often adopt strategies such as geography expansion, partnership/collaboration/ merger & acquisition to gain competitive edge. New product innovation and launches have remained the top priority of companies operating in this market.

• In March 2019, FLIR Systems acquired Endeavor Robotics Holdings, Inc., to hold market footprint on surveillance, examination, and unsafe materials to support industrial & defence customers.

Get Valuable Insights into Thermal Scanner Market

Future Market Insights, in its new offering, provides an unbiased analysis of the global thermal scanner market, presenting historical demand data (2015-2019) and forecast statistics for the period from 2020-2030. The study divulges compelling insights on the thermal scanner market based on the product (fixed/ mounted, and handheld/ portable), technology (cooled, uncooled), application (thermography, surveillance, firefighting, personal vision system, ruggedized smartphone, military, and others), wavelength (long-wave infrared (LWIR), mid-wave infrared (MWIR), short-wave infrared (SWIR)), price range (high/ premium, and mass/economy) across seven major regions.

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