Thermal Imaging Market Size, Share And Growth Analysis For 2021-2026

The global thermal imaging market in terms of revenue was estimated to be worth USD 3.6 billion in 2021 and is poised to reach USD 4.7 billion by 2026, growing at a CAGR of 5.5% from 2021 to 2026. The new research study consists of an industry trend analysis of the market.

FLIR Systems (US), Fluke Corporation (US), Leonardo (Italy), L3HARRIS TECHNOLOGIES (US), United Technologies (US), Axis Communications (Sweden), BAE Systems (UK), Opgal (Israel), Testo (Germany), Xenics (Belgium), Thermoteknix Systems (UK) are major key players in this market.

North America accounted for the largest share of the thermal imaging market and is expected to continue this growth during the forecast period.

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Restraint: Export restriction imposed on thermal imaging products

Export restrictions are imposed on thermal imaging cameras, thermal cameras, and thermal sensors by the US state government under International Traffic in Arms Regulations (ITAR) and Export Administration Regulations (EAR) laws. ITAR laws are governed by the US Department of State, while EAR laws are controlled by the US Department of Commerce. These restrictions are imposed on devices based on sensor size and pixel pitch.

Opportunity: Increase in the adoption of thermography for infancy stage diagnosis in healthcare applications

Clinical Thermography (CT) or thermal imaging is a non-invasive screening and diagnostic technique, which is combined with mammography or other scanning or diagnostic tool. Clinical thermography uses thermal cameras for infancy stage diagnose of cancer, infections, injuries, or vascular disease. It is one of the best preventive health assessment techniques, in which thermal cameras produce images based on the amount of heat dissipated by the human body. The images display heat patterns, thermal imbalances, and inflammation produced by blood circulation problems in the human body.