Infrared Imaging Market Forecasts to 2030 – Global Analysis By Component (IR Detectors, IR Lens Systems, IR Sensors and Other Components), Wavelength, Technology, Application, End User and By Geography

Infrared Imaging Market Forecasts to 2030 – Global Analysis By Component (IR Detectors, IR Lens Systems, IR Sensors and Other Components), Wavelength, Technology, Application, End User and By Geography


According to Stratistics MRC, the Global Infrared Imaging Market is accounted for $7.4 billion in 2023 and is expected to reach $12.8 billion by 2030 growing at a CAGR of 8.1% during the forecast period. The Infrared Imaging Market refers to the industry that deals with the development, production, and application of infrared imaging technology. Infrared imaging involves the capture and interpretation of thermal radiation emitted by objects to create visible images, enabling the detection of temperature variations and patterns. In the realm of healthcare, it plays a pivotal role in medical diagnostics by enabling non-invasive imaging for early disease detection, particularly in areas like cancer screening and vascular imaging.

According to the International Agency for Research on Cancer (IARC), by 2040, the prevalence of breast cancer is expected to increase by 40% to reach over 3 million new cases every year. The study predicts a 50% surge in breast cancer-related mortality with more than 1 million deaths per year.

Market Dynamics:

Driver:

Increasing awareness of energy efficiency

As industries and consumers alike strive to minimize energy consumption and reduce carbon footprints, infrared imaging technology has become a crucial tool for achieving these goals. Infrared cameras enable precise thermal analysis of buildings, electrical systems, and industrial equipment, facilitating energy audits and identifying areas of inefficiency. Additionally, the ability to visualize and quantify heat loss, insulation effectiveness, and equipment performance empowers businesses and individuals to implement targeted energy-saving measures.

Restraint:

High initial costs

The sophisticated nature of infrared cameras and associated equipment contributes to elevated upfront expenses, posing a challenge, particularly for small and medium-sized enterprises with constrained budgets. The cost of acquiring and installing infrared imaging systems, along with the necessary training for personnel, can deter potential users from investing in this technology. However, the expense of periodic maintenance and calibration further adds to the total cost of ownership. As industries seek cost-effective solutions, the initial financial barrier becomes a notable impediment, limiting the broader integration of infrared imaging across various sectors.

Opportunity:

Technological advancements

Continuous innovation in infrared imaging technologies has led to remarkable improvements in resolution, sensitivity, and overall performance, expanding the range of applications and enhancing the capabilities of infrared cameras. The development of advanced sensors and imaging systems has allowed for higher precision in detecting thermal anomalies, enabling more accurate diagnostics in medical applications, efficient industrial maintenance, and sophisticated defense and security solutions. Furthermore, ongoing strides in manufacturing processes have contributed to cost reductions, making infrared imaging more accessible to a broader market.

Threat:

Data privacy concerns

As the use of infrared imaging involves capturing and processing sensitive thermal data, there is a growing apprehension regarding the protection of individuals' privacy. In healthcare, where thermal imaging may be employed for patient diagnostics, concerns arise about the secure handling of medical information. Similarly, in surveillance and security applications, the potential for infringing on personal privacy raises ethical and legal questions. Striking a balance between leveraging the benefits of infrared imaging for enhanced safety and respecting individuals' privacy rights becomes crucial.

Covid-19 Impact:

The increased focus on public health and safety has driven demand for infrared thermography solutions in fever screening and temperature monitoring, especially at entry points to public spaces and healthcare facilities. This surge in demand for contactless temperature measurement has propelled the adoption of infrared imaging technology. The economic uncertainties and disruptions in various industries have led to budget constraints, affecting capital investments in new technologies. Delayed projects and financial constraints have somewhat restrained the growth of the Infrared Imaging Market, particularly in sectors like manufacturing and construction.

The cooled infrared imaging segment is expected to be the largest during the forecast period

Cooled infrared imaging segment is expected to be the largest during the forecast period. Cooled infrared cameras, equipped with sophisticated cooling mechanisms such as cryogenic coolers, offer superior sensitivity and higher image resolution compared to uncooled counterparts. This heightened performance makes them indispensable in critical applications like defense, surveillance, and scientific research. The defense sector, in particular, relies on cooled infrared imaging for advanced thermal detection, target identification, and night vision capabilities.

The security and surveillance segment is expected to have the highest CAGR during the forecast period

Security and surveillance segment is expected to have the highest CAGR during the forecast period due to its indispensable role in enhancing situational awareness and bolstering security measures. Infrared imaging technology, particularly in the form of thermal cameras, is instrumental in low-light and nighttime surveillance, providing clear visibility where traditional cameras may falter. Moreover, the ability to detect heat signatures enables efficient monitoring of areas regardless of ambient lighting conditions, making it crucial for critical infrastructure protection, border surveillance, and law enforcement applications.

Region with largest share:

Asia Pacific region is expected to hold largest share over the projected period. Countries in the region, such as China, Japan, and India, are witnessing a surge in demand for infrared imaging solutions across various sectors. The expanding industrial infrastructure in sectors like manufacturing, automotive, and healthcare is driving the adoption of infrared imaging for quality control, preventive maintenance, and medical diagnostics. Additionally, the heightened awareness of security concerns is boosting the deployment of infrared cameras in surveillance applications.

Region with highest CAGR:

Asia Pacific region is projected to hold profitable growth over the extrapolated period. Stringent regulations and standards related to safety, security, and public health, particularly in countries like China, Japan, and India, are driving the demand for infrared imaging technology. The emphasis on enhancing border security, critical infrastructure protection, and industrial safety has led to increased deployment of infrared cameras. Moreover, regulatory initiatives promoting energy efficiency and sustainability are boosting the adoption of infrared imaging for applications like building diagnostics and energy audits.

Key players in the market

Some of the key players in Infrared Imaging market include Allied Vision technologies GmbH, Axis Communications AB, BAE Systems Plc, Episensors Inc, Fluke Corporation, Hangzhou Hikvision Digital Technology Co., Ltd, L3 Harris Technologies, Inc, Leonardo DRS, Inc, OPGAL Optronics Industries Ltd, Princeton Infrared Technologies Inc, Raptor Photonics Ltd, Seek Thermal Inc, Teledyne Technologies Incorporated, Tonbo Imaging Pvt. Ltd, Wuhan Guide Infrared Co., Ltd and Zhejiang Dali Technology Co. Ltd.

Key Developments:

In May 2023, Leonardo DRS, Inc. revealed the application of its advanced high-precision radiometer technology to measure the Earth's surface temperature from space. The Multiband Uncooled SmallSat Imaging Radiometer (MUSIR) payload, equipped with the company's unique uncooled thermal imaging radiometer technology, is now being utilized for an innovative demonstration mission with NASA.

In November 2022, Teledyne FLIR, part of Teledyne Technologies Incorporated, collaborated with RealWear, a pioneer in wearable-assisted reality solutions, as its newest Thermal by FLIR partner, recently launching the world's first fully hands-free voice-controlled thermal imaging camera module. Additionally, Thermal by FLIR cohort Ulefone recently launched the Power Armor 18T 5G Android phone, the first mobile phone with a Lepton 3.5 thermal imaging camera module.

Components Covered:
• IR Detectors
• IR Lens Systems
• IR Sensors
• Other Components
Wavelengths Covered:
• Long-wave Infrared (LWIR)
• Mid-wave Infrared (MWIR)
• Near-Infrared
• Shortwave Infrared (SWIR)

Technologies Covered:
• Cooled Infrared Imaging
• Uncooled Infrared Imaging

Applications Covered:
• Monitoring and Inspection
• Security and Surveillance
• Other Applications

End Users Covered:
• Aerospace and Defense
• Automotive
• Electronics & Semiconductor
• Healthcare
• Industrial
• Oil & Gas
• Other End Users

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
JapanChinaIndiaAustralia
New Zealand
South Korea
Rest of Asia Pacific• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances


1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Technology Analysis
3.7 Application Analysis
3.8 End User Analysis
3.9 Emerging Markets
3.10 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Infrared Imaging Market, By Component
5.1 Introduction
5.2 IR Detectors
5.3 IR Lens Systems
5.4 IR Sensors
5.5 Other Components
6 Global Infrared Imaging Market, By Wavelength
6.1 Introduction
6.2 Long-wave Infrared (LWIR)
6.3 Mid-wave Infrared (MWIR)
6.4 Near-Infrared
6.5 Shortwave Infrared (SWIR)
7 Global Infrared Imaging Market, By Technology
7.1 Introduction
7.2 Cooled Infrared Imaging
7.3 Uncooled Infrared Imaging
8 Global Infrared Imaging Market, By Application
8.1 Introduction
8.2 Monitoring and Inspection
8.2.1 Quality Control
8.2.2 Structural Health Monitoring
8.2.3 Condition Monitoring
8.3 Security and Surveillance
8.4 Other Applications
9 Global Infrared Imaging Market, By End User
9.1 Introduction
9.2 Aerospace and Defense
9.3 Automotive
9.4 Electronics & Semiconductor
9.5 Healthcare
9.6 Industrial
9.7 Oil & Gas
9.8 Other End Users
10 Global Infrared Imaging Market, By Geography
10.1 Introduction
10.2 North America
10.2.1 US
10.2.2 Canada
10.2.3 Mexico
10.3 Europe
10.3.1 Germany
10.3.2 UK
10.3.3 Italy
10.3.4 France
10.3.5 Spain
10.3.6 Rest of Europe
10.4 Asia Pacific
10.4.1 Japan
10.4.2 China
10.4.3 India
10.4.4 Australia
10.4.5 New Zealand
10.4.6 South Korea
10.4.7 Rest of Asia Pacific
10.5 South America
10.5.1 Argentina
10.5.2 Brazil
10.5.3 Chile
10.5.4 Rest of South America
10.6 Middle East & Africa
10.6.1 Saudi Arabia
10.6.2 UAE
10.6.3 Qatar
10.6.4 South Africa
10.6.5 Rest of Middle East & Africa
11 Key Developments
11.1 Agreements, Partnerships, Collaborations and Joint Ventures
11.2 Acquisitions & Mergers
11.3 New Product Launch
11.4 Expansions
11.5 Other Key Strategies
12 Company Profiling
12.1 Allied Vision technologies GmbH
12.2 Axis Communications AB
12.3 BAE Systems Plc
12.4 Episensors Inc
12.5 Fluke Corporation
12.6 Hangzhou Hikvision Digital Technology Co., Ltd
12.7 L3 Harris Technologies, Inc
12.8 Leonardo DRS, Inc
12.9 OPGAL Optronics Industries Ltd
12.10 Princeton Infrared Technologies Inc
12.11 Raptor Photonics Ltd
12.12 Seek Thermal Inc
12.13 Teledyne Technologies Incorporated
12.14 Tonbo Imaging Pvt. Ltd
12.15 Wuhan Guide Infrared Co., Ltd
12.16 Zhejiang Dali Technology Co. Ltd
List of Tables
Table 1 Global Infrared Imaging Market Outlook, By Region (2021-2030) ($MN)
Table 2 Global Infrared Imaging Market Outlook, By Component (2021-2030) ($MN)
Table 3 Global Infrared Imaging Market Outlook, By IR Detectors (2021-2030) ($MN)
Table 4 Global Infrared Imaging Market Outlook, By IR Lens Systems (2021-2030) ($MN)
Table 5 Global Infrared Imaging Market Outlook, By IR Sensors (2021-2030) ($MN)
Table 6 Global Infrared Imaging Market Outlook, By Other Components (2021-2030) ($MN)
Table 7 Global Infrared Imaging Market Outlook, By Wavelength (2021-2030) ($MN)
Table 8 Global Infrared Imaging Market Outlook, By Long-wave Infrared (LWIR) (2021-2030) ($MN)
Table 9 Global Infrared Imaging Market Outlook, By Mid-wave Infrared (MWIR) (2021-2030) ($MN)
Table 10 Global Infrared Imaging Market Outlook, By Near-Infrared (2021-2030) ($MN)
Table 11 Global Infrared Imaging Market Outlook, By Shortwave Infrared (SWIR) (2021-2030) ($MN)
Table 12 Global Infrared Imaging Market Outlook, By Technology (2021-2030) ($MN)
Table 13 Global Infrared Imaging Market Outlook, By Cooled Infrared Imaging (2021-2030) ($MN)
Table 14 Global Infrared Imaging Market Outlook, By Uncooled Infrared Imaging (2021-2030) ($MN)
Table 15 Global Infrared Imaging Market Outlook, By Application (2021-2030) ($MN)
Table 16 Global Infrared Imaging Market Outlook, By Monitoring and Inspection (2021-2030) ($MN)
Table 17 Global Infrared Imaging Market Outlook, By Quality Control (2021-2030) ($MN)
Table 18 Global Infrared Imaging Market Outlook, By Structural Health Monitoring (2021-2030) ($MN)
Table 19 Global Infrared Imaging Market Outlook, By Condition Monitoring (2021-2030) ($MN)
Table 20 Global Infrared Imaging Market Outlook, By Security and Surveillance (2021-2030) ($MN)
Table 21 Global Infrared Imaging Market Outlook, By Other Applications (2021-2030) ($MN)
Table 22 Global Infrared Imaging Market Outlook, By End User (2021-2030) ($MN)
Table 23 Global Infrared Imaging Market Outlook, By Aerospace and Defense (2021-2030) ($MN)
Table 24 Global Infrared Imaging Market Outlook, By Automotive (2021-2030) ($MN)
Table 25 Global Infrared Imaging Market Outlook, By Electronics & Semiconductor (2021-2030) ($MN)
Table 26 Global Infrared Imaging Market Outlook, By Healthcare (2021-2030) ($MN)
Table 27 Global Infrared Imaging Market Outlook, By Industrial (2021-2030) ($MN)
Table 28 Global Infrared Imaging Market Outlook, By Oil & Gas (2021-2030) ($MN)
Table 29 Global Infrared Imaging Market Outlook, By Other End Users (2021-2030) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.

Download our eBook: How to Succeed Using Market Research

Learn how to effectively navigate the market research process to help guide your organization on the journey to success.

Download eBook
Cookie Settings