THERMAL IMAGING SYSTEMS MARKET SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS (2023 - 2028)


Thermal Imaging Systems Market Analysis:

The Thermal Imaging Systems market is anticipated to exhibit a Compound Annual Growth Rate (CAGR) of 7.78% during the forecast period. The defense and security sector is witnessing a surge in demand for handheld thermal imaging, which is the primary application. For instance, the US Army intends to equip its soldiers engaged in combat missions with thousands of new goggles.

Technological advancements have enabled companies to miniaturize Infrared (IR) and thermal imaging sensors, making them highly efficient and user-friendly. Handheld IR and thermal imaging systems are gaining popularity due to their portability and are being utilized in various industry verticals, such as hospitals, to reduce repair times and heating costs.

Furthermore, the automotive sector is expected to witness an increase in the use of thermal imaging systems, such as thermal cameras, over the next five years. This is primarily due to the need to reduce driving risks, especially at night. Recent developments in cooled mercury cadmium telluride (MCT or HgCdTe) infrared detector technology have made it possible to develop high-performance infrared cameras for various demanding thermal imaging applications.

The rising demand for surveillance across various verticals, decreasing cost of thermal cameras, and rapid development of high-speed infrared cameras are some of the factors driving the market growth for IR cameras. However, the market growth is being challenged by inaccurate measurements and image color issues associated with the cameras. The military, defense, and automotive industries are heavily reliant on IR cameras.

The COVID-19 pandemic has led to an increase in demand for thermal imaging solutions across various industries, including healthcare, life science, and transportation. Several firms have implemented thermal imaging solutions to reduce the transmission of illness at their locations. Authorities in countries such as China are using thermal cameras and eyewear to identify pedestrians with high temperatures. Additionally, police are utilizing AI-powered thermal smart helmets to scan and identify individuals with elevated body temperatures.

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